IHS Chemical Week

Olefins Mostly Lower in Europe and U.S.

10:47 AM MDT | May 25, 2011 | Lindsey Bewley

Feedstocks in North America were mostly down this week on falling crude oil prices. Ethane shed 2 cts/gal, propane fell 4 cts/gal and butane was lower by about 3 cts/gal. Naphtha, however, posted a gain of about 6 cts/gal. Olefins in North America were quiet this week. Spot ethylene was down about 2 cts/lb, to 70 cts-72 cts/lb, while propylene was unchanged. Spot butadiene, however, gained another 10 cts/lb amid tight market conditions. The boost edged butadiene to nearly $2.00/lb. European olefins were said to be mixed. Spot naphtha in northwest Europe rose...

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