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Spot Olefins Fall in the U.S. and Europe
October 19, 2011 | Lindsey Bewley
Crude oil prices rose this week, but could not lift petrochemcials as those markets reacted to continuing bleak economic news in both the U.S. and Europe. Spot ethylene in the U.S. was down a penny, while both grades of propylene fell about 4 cts/lb. Butadiene continued to post losses on the week, falling 13 cts/lb. However, North American feedstocks followed crude oil higher. Propane gained 3 cts/gal while naphtha was higher by 6 cts/gal. Butane added 10 cts/gal, while ethane was the clear winner, rising 13 cts/gal. Spot naphtha rose $30/m.t. in northwest...
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