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Olefins Post Big Gains in U.S. and Europe
9:35 AM MST | February 9, 2012 | Lindsey Bewley
Major petrochemical markets continued to advance in aggregate, but without the pace or uniformity of previous weeks. Also of note, West Texas Intermediate crude oil, which had closed the gap on Brent late last year, has again fallen back, with WTI at $99.93/bbl and Brent at $116.50/bbl. Natural gas on the Henry Hub remains becalmed at $2.60/million Btu. North American ethane slid farther, to about 47 cts/gal, while butane added 2 cts/gal, to $1.90/gal. Propane was stable at $1.24/gal. Among U.S. olefins, spot ethylene posted gains of about 4 cts/lb, to 64...
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