CW Price Report

Spot naphtha in Europe declined $45/m.t., in line with falling oil prices. The feedstock decline, coupled with plunging demand and prices for derivatives, drove spot olefins prices lower despite several production units being taken out of service. Spot ethylene shed €40/m.t., while propylene retreated €100/m.t. and butadiene surrendered $200/m.t. Production cuts include an outage at BASF’s Ludwigshafen complex and sales controls on butadiene at Shell’s Moerdijk, Netherlands plant. Brent crude slipped below $50/bbl, a decline of $6.12/bbl...

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