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Olefins Prices Continue to Ease
10:20 AM MDT | May 18, 2012 | Lindsey Bewley
Continued weakness in crude oil and the growing financial crisis in Europe caused petrochemical markets to plunge this week. Ethane and propane were both lower by 6 cts/gal, while butane fell 9 cts/gal. Among U.S. spot olefins, ethylene was steady at about 55 cts/lb, while both grades of propylene lost a penny. Spot butadiene slid 3 cts/lb. Spot naphtha in northwest Europe was off $40/m.t. setting the tone for spot olefins. Ethylene tumbled €100/m.t. amid reports of weak demand in all key markets. Spot propylene fell €120/m.t., players say, while...
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