COMMENTARY

Price spikes rippled through oil and petrochemical markets last week, as feedstock prices continued to push higher in the U.S. Ethane reached 119 cts/gal, while propane and butane hit 183 cts-184 cts/gal and 222-223 cts/gal, respectively. Ethylene prices were quiet after several weeks of steady gains, and one major producer decided not to announce a specific contract increase nomination but rather said that the price would be linked to the cost of crude. June propylene contracts had begun to settle at increases of 6 cts/lb, although several suppliers are holding...

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