COMMENTARY

Naphtha jumped $40/m.t. in Europe to a record high last week, mirroring soaring crude oil prices. Spot olefins were quiet, as the market is caught between rising feedstock costs and an easing supply situation at BASF’s Antwerp cracker, sources say. U.S. ethylene spot prices eased as outages were resolved. The November benzene contract on the U.S. Gulf Coast lost a penny. Styrene gained a penny, following a 4 cts/lb increase in October. Spot benzene rose on higher gasoline prices. In Europe, the November benzene contract settled with an increase of €9/m.t....

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