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Olefins Prices Reverse Declines
8:02 AM MDT | July 19, 2012 | Lindsey Bewley
Strong firming was reported in primary hydrocarbon markets, with crude oil higher by an average of $6/bbl and natural gas on the Henry Hub stabilizing at around $2.85/million Btu. Among North American feedstocks, ethane rose 4 cts/gal, butane added 11 cts/gal, and propane was higher by 10 cts/gal. Natural gasoline tacked on 14 cts/gal. U.S. spot olefins were mostly higher. Spot ethylene rose 1.5 cts/lb, while butadiene added a penny. Both grades of propylene, however, were lower by about 1.5 cts/lb. In northwest Europe spot naphtha rose sharply, say traders, by...
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