CFR North Asia Propane Trend & Japan LPG

Asian LPG Daily Commentary / Asian LPG prices fall on Iran transit news / Propane falls $118/mt, butane down $108/mt / Japan prioritizes domestic LPG supply needs

Jun 02, 2026

Asian LPG prices declined further at the March 25 market close, tracking the $22.32/mt fall in front-month Brent crude futures, following reports that “non-hostile vessels” could transit the Strait of Hormuz in coordination with the Iranian authorities. Iran has told the UN that “non-hostile vessels” may transit the Strait of Hormuz in coordination with Iranian authorities, Iran’s Ministry of Foreign Affairs said in a communique issued March 22. “Non-hostile vessels, including those belonging to or associated with other States, may — provided that they neither participate in nor support acts of aggression against Iran and fully comply with the declared safety and security regulations — benefit from safe passage through the Strait of Hormuz in coordination with the competent Iranian authorities,” according to the communique sent to UN Secretary General...

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