COMMENTARY

Crude oil stabilized last week, leading to mixed movement for petrochemical prices. Olefins were quiet, as continued tightness in Europe limited activity to swaps. Spot olefins prices slid on the U.S. Gulf Coast last week. Lower natural gas prices and ample supply stifled a modest rally fueled by solid demand. Cracker feedstocks fell 2-3 cts/gal. Spot ethylene dropped 4 cts/lb, while propylene shed a penny or two. February ethylene contracts had not been settled, but February propylene rose from a split settlement in January, to add about 2.5 cts/lb. March...

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