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Olefins Trading Thin Ahead of U.S. Holiday Weekend
11:07 AM MDT | June 29, 2011 | Lindsey Bewley
Trading was reported thin in North America as players in Canada and the United States wound down in advance of their national holidays this weekend. Among North American feedstocks, ethane and propane each lost about 2 cts/gal, while butane was lower by about 5 cts/gal. Following lower crude oil prices downward, naphtha eased lower by about 13 cts/gal, sources say. On the olefins side, spot ethylene gained about 4 cts/lb, to 64 cts-68 cts/lb, win a widening range. June contracts were heard to have settled at a loss of 3.5 cts/lb, to 55 cts/lb. Propylene was also...
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