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Olefins Prices Slip Lower in U.S. and Europe
10:02 AM MDT | May 23, 2012 | Lindsey Bewley
Continued weakness in crude oil and the growing financial crisis in Europe caused petrochemical markets to plunge for another week. North American butane was unchanged, while ethane lost a penny. Propane fell about 4 cts/gal. Among spot olefins, spot ethylene was down by about 1.75 cts/lb, while both grades of spot propylene eased lower by about 10 cts/lb. Spot butadiene continued to slide, losing about 1 ct/lb, week-on-week. Spot naphtha in northwest Europe was off $20/m.t. setting the tone for spot olefins. Ethylene and polymer-grade propylene tumbled...
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