COMMENTARY

Global crude-oil prices soared past $81/bbl last week, pitching North American olefins markets into some confusion. With feedstock prices soaring and weather-related production limits in the Gulf Coast, ethylene producers are pushing for a 2 cts/lb increase in the September contract price. U.S. spot olefins shed a penny or two from last week’s storm-surge highs, but buyers say the market is tight and anticipate spot prices will rise again. European spot olefins were higher as well due to operating problems and rising naphtha prices. Rising oil prices do not...

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