Olefins Stable in U.S., Mixed in Europe

U.S. olefins were mostly quiet this week. Spot ethylene moved higher by about 2 cts/lb, while both propylene and butadiene were quite. Petrochemical feedstocks were mostly down in North America. Ethane was lower by a penny, while both propane and butane fell about 2 cts/gal. Naphtha, however, managed to gain about 6 cts/gal. Meanwhile, spot naphtha in northwest Europe inched higher by $5/m.t. but that gave little direction to European olefins. Spot ethylene netted a gain of €10/m.t. in a narrowing range as buyers moved bids higher faster than sellers...

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