COMMENTARY

Global petrochemical prices fell last week with the sharp decline in crude oil. U.S. ethylene spot prices softened by a half penny, and European spot ethylene numbers dropped €20/m.t. despite thin supply. Spot propylene in Europe slipped by €10/m.t. but U.S. spot propylene hung on, supported by healthy downstream demand. European butadiene prices eased by $20/m.t. Aromatics were hardest hit by the tumbling energy prices. U.S. benzene caved 15 cts-20 cts/gal, pulling down U.S. toluene prices by around 15 cts/gal. U.S. mixed xylenes were steady, however...

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