The Italian LPG (Liquefied Petroleum Gas) market experienced a sharp upturn in early August, after witnessing a prolonged downtrend precipitated by low crude oil feedstock values. While a supply-side constraint ignited the price surge, major players including Saudi Aramco announced a price revision in August xxxx which influenced the LPG market in Italy as well. Factors such as production setbacks, hurricane disruptions, declining US exports, and increased freight costs coalesced to create a market characterized by scarcity. As a result, LPG prices surged during early August as buyers competed for limited available supply.
A critical contributor to the price escalation was the disruption of LPG supply from the United States, a key exporter to Europe. Production setbacks within the Gulf Coast, a pivotal manufacturing hub, were exacerbated by the impact of Hurricane Beryl. The storm&#xx;s disruption of transportation infrastructure inflated freight costs, further compounding the...
