Olefins Prices Climb Higher in U.S. and Europe

Petrochemcial traders say they welcomed the relative calm of the North American holiday week and the start of quieter summer business after a tumultuous first half of the year. The Canada Day and U.S. Independence Day celebrations kept Gulf Coast spot markets all but inactive, but contract settlements proceeded apace. North American feedstocks were on the rise. Ethane gained a penny while propane added 2 cts/gal. Butane was higher by about 5 cts/gal, while naphtha was higher by about 8 cts/gal. Among U.S. spot olefins, ethylene was down about a penny, while both...

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