Saudi Aramco and the Algerian National Oil Company have lowered oil prices for July.

Traders revealed on Wednesday that due to the impact of ample global market supply, Saudi Aramco, the state-owned oil company of Saudi Arabia, lowered its official selling price for liquefied petroleum gas (LPG) in July by 24% to 27%, while the National Oil Company of Algeria also reduced their prices by 2% to 10%. Saudi Aramco lowered the official selling price of propane in July by $180 per ton to $580 per ton, and butane by $220 per ton to $600 per ton. The National Oil Company of Algeria also lowered their prices in July, reducing propane by $57 per ton to $518 per ton and keeping butane prices at $600 per ton after a $10 reduction.