Olefins Prices Make Gains in U.S. and Europe

Feedstock prices in North America are on an upswing. Ethane was stable at about 35 cts/gal, while butane was higher by 7 cts/gal, in a widening range. Both natural gasoline and propane each gained a penny. Among U.S. spot olefins, ethylene was unchanged while both grades of propylene were lower by about 2 cts/lb. Spot butadiene, however, gained a penny. In an unusual development, August's propylene contract price for Europe was agreed ahead of the ethylene contract. Sellers say strong derivative demand made buyers eager to lock in a monthly level ahead of...

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