COMMENTARY

U.S. naphtha prices pushed 5 cts/gal higher last week due to higher gasoline prices. Spot ethylene fell almost 3 cts/lb on softening derivative demand. U.S. propylene contracts gained a half a cent for December, to reach 60.5 cts/lb for chemical grade and 62 cts/lb for polymer grade. Producers had nominated increases ranging from 3 cts-9 cts/lb for December, but fell short due to easing supply conditions and soft demand, sources say. In Europe spot naphtha climbed $25/m.t. Olefins producers say this put greater pressure on their margins, which they say have been...

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