COMMENTARY

Olefins prices in both the U.S. and Europe rose last week on strong demand. U.S. ethylene turned up a penny last week, and European ethylene firmed around €10/m.t. U.S. propylene contracts settled up another 4 cts/lb for May on tight supply, and additional demand from the gasoline sector. European propylene spot numbers gained €10/m.t., and butadiene $10/m.t., sources say. Extremely low water levels on the Rhine River have severely restricted olefins shipments in Europe, and are so far affecting largely butadiene and aromatics. Cracker operators could...

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