Olefins Rise in Europe

Sentiment was generally positive at the annual global petrochemical meetings in Houston and San Antonio last week and this week. The price of feedstocks and energy, although significantly higher than at this time last year, were not a concern. Players were much more focused on the current strength in downstream markets and assessing how long that would last. Spot naphtha in northwest Europe rose $10/m.t. which put some pressure on spot olefins prices because they were generally lower. Ethylene pulled back from recent peaks by €50/m.t. Buyers of...

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