Olefins Prices Fall in Both Europe and U.S.

Prices for primary hydrocarbons declined this week, with crude oil retreating from the recent peak and natural gas tumbling to new yearly lows. But petrochemical producers report steady if unspectacular demand, and limited supply in some markets. That situation was most notable in France, where all 13 of the country’s refineries were closed by workers walking off the job to protest pension reform. On the olefins side, two producers, Ineos and BP were in force majeure situations with steam cracker outages. As a result, spot ethylene was reported to be higher...

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