Olefins Prices Edge Higher

Crude oil ran higher this week, driving olefins prices up on both sides of the Atlantic. Spot propylene was higher by about 3 cts/lb, while spot butadiene rose about 10 cts/lb. Spot ethylene was stable. On the contract side, propylene contracts for the month of July have begun to settle at a decrease of 4 cts/lb, putting polymer-grade at 78 cts/lb and chemical-grade at 76.5 cts/lb. Feedstocks in North America rose in line with crude oil. Naphtha gained about 8 cts/gal and propane edged higher by 2 cts/gal. Butane was up about 7 cts/gal, while ethane rose 4...

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