COMMENTARY

Wide margin differentials have cracker operators using all the light feed they can find, market sources say. Spot polymer-grade propylene prices gained a penny, and two producers have nominated increases of 9 cts/gal and 15 cts/gal for June butadiene contracts, sources say. Spot ethylene prices were quiet as April contract negotiations continued as of CW presstime. In Europe, rising crude prices have pushed spot naphtha past the $1,000/gal mark. Market watchers were agitated, but cracker operators were more concerned with sharply lower spot olefins prices...

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