IHS Chemical Week

Mideast tension weighs on olefin prices

12:33 PM MDT | September 3, 2013 | Lindsay Frost

Rapidly rising tensions in the Mideast over possible strikes against Syria had global energy and chemical markets edgy this week. Prices for Brent crude rose against US benchmarks, and spot naphtha in northwest Europe were up sharply, $55/m.t. September olefins contract talks in Europe were just beginning, with sellers seeking an increase of as much as €100/m.t. ($132) because of feedstock increases, but buyers pressing for a much smaller increase, if any. Spot ethylene was said to be higher by €30/m.t., while spot propylene gained €20/m.t...

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