COMMENTARY

Naphtha followed crude prices higher this week, gaining 15 cts/gal on the U.S. Gulf Coast and $50/m.t. in northwest Europe. U.S. spot ethane prices pushed higher to 96 cts/gal, while propane surged 13 cts/gal. U.S. spot ethylene gained 3 cts/lb last week on higher feedstock costs. Spot propylene prices added 3 cts/lb to sell above current contract prices, while suppliers nominated an increase of 5 cts/lb for May contracts, sources say. European olefins producers were pinched by the sharp run up in cracker feeds and a sudden tumble in spot prices. Market watchers...

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