COMMENTARY

Some stability crept into global petrochemical markets this week. Spot prices are mixed but the magnitude of the up and down changes has shrunk, sellers say. However, contract markets remain in turmoil, with sharp month-on-month changes and negotiations dragging out. Upstream West Texas Intermediate crude oil dipped $1.50/bbl to $62.41/bbl. Brent crude fell farther below the benchmark of $60/bbl, dropping $3.11/bbl to $56.08/bbl. Market watchers say that, with the $60/bbl support level breached, crude prices are likely to continue to move lower. Spot naphtha in...

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