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U.S. Olefins Prices Mostly Lower

12:27 PM MDT | June 22, 2011 | Lindsey Bewley

Olefins prices in the U.S. eased this week on lower crude oil prices. Spot ethylene was lower by about 3 cts/lb, while both grades of propylene also fell about 3 cts/lb. Butadiene, meanwhile, kept its momentum and gained about 5 cts/lb, pushing it to a spot average high of about $2.10/lb, players say. On the contract side, a butadiene producers has nominated a contract increase of 10 cts/lb for July, market sources say. On the feedstocks side, gains were most notable for naphtha, which tracked crude oil lower and lost about 13 cts/gal. Butane fell about 5...

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