Olefins Prices Fall on Both Sides of the Atlantic

After several weeks of steady gains, petrochemcial prices turned sharply weaker this week as a result of ample supplies, lower oil prices, and renewed signs of economic uncertainty in Europe. Crude prices tumbled about $4.50/bbl for both West Texas Intermediate and for Brent putting them in the $82-84/bbl range. Spot natural gas on the Henry Hub rose 20 cts/million Btu to $3.68/million Btu. U.S. feedstocks were mostly down. Ethane was down about 1.5 cts/gal, while naphtha fell about 3 cts/gal and propane was lower by about 6 cts/gal. However, butane rose by...

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