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Olefins Prices Make Moves in New Year
8:43 AM MST | January 4, 2012 | Lindsey Bewley
With faint but multiple indications of economic recovery, petrochemcials roared out of the gate this year, with significantly higher contract settlements reported for January. Higher oil prices also gave some impetus, with both Brent crude and West Texas Intermediate higher by $4/bbl, Brent to $111.54/bbl and WTI to $102.96/bbl. Only natural gas sat out the dance, with Henry Hub spot prices flatlined at $2.98/million Btu. Among North American feedstocks, ethane rose 4 cts/gal, while propane gained a penny. Butane, however, lost about 8 cts/gal, while naphtha...
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