Olefins Prices Mixed in U.S., Lower in Europe

Crude oil prices rose sharply this week, with Brent jumping $4.27/bbl to $97.15/bbl and West Texas Intermediate gaining $2.60/bbl to $91.53/bbl. Despite that strong move, and despite persistent cold weather across the entire U.S., natural gas prices deflated by 20 cts/million Btu to $4.41/million Btu. In North America, feedstocks were mixed, despite rising crude oil prices. Ethane was down about a penny, while butane was lower by 2 cts/gal. Naphtha gained 2 cts/gal, while propane was the big winne of the week, up about 4 cts/gal. The gain in propane pricing is...

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