IHS Chemical Week

Olefins Prices Push Higher in U.S. and Europe

11:06 AM MDT | August 10, 2012 | Lindsey Bewley

With crude oil prices rising an average of $4/bbl week-on-week and a pickup in downstream demand that was stronger than anticipated, major commodity chemical prices pushed higher, players say. North American ethane and butane each gained 3 cts/gal, while propane added 5 cts/gal. Natural gasoline ticked higher by 18 cts/gal, following crude oil prices upward. Among U.S. spot olefins, ethylene gained 3 cts/lb and both grades of propylene were also higher by 3 cts/lb. Spot butadiene was relatively stable at 92 cts–93 cts/lb. Olefins contract prices are all in...

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