Spot Ethylene, Propylene Move Lower in U.S. and Europe

After languishing for several weeks primary hydrocarbon prices rose sharply this week, with West Texas Intermediate gaining $5.15/bbl to $77.15/bbl and Brent crude rising $3.95/bbl to $76.03/bbl. Natural gas on the Henry Hub in Louisiana lost 37 cts/million Btu to $4.48/million Btu. U.S. olefins saw two contract settlements. Propylene contracts for July have rolled over, market sources say. Polymer-grade propylene (PGP) last settled at a decrease of 8 cts/lb, to 55.5 cts/lb for June, while chemical-grade propylene (CGP) also saw an 8 cts/lb decrease for June...

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