Petchem prices flat as October contracts discussed

Little movement was reported as US petrochemical market participants focused on October contract discussions. Crude oil was reported lower by about $5/bbl for both Brent and West Texas Intermediate, and spot naphtha in northwest Europe was said to be flat, giving traders no upstream direction. European spot olefins were described as listless. At present, the difference between spot and contract prices is only freight, so buyers say sellers cannot claim strong demand as leverage for increasing prices. Sellers counter that they need to recover eroded...

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