Commentary

Gulf Coast Hurricane Gustav only minimally damaged oil and chemical infrastructure last week, and crude and chemical prices continued to drop. Spot ethylene prices were flat, despite the shut down of most crackers in Louisiana and around Port Arthur, TX ahead of the storm, market sources say. A softer export market is also contributing to falling prices, they say. Producers have nominated 5 cts-6 cts/lb for September propylene contracts, market sources say. September contracts for butadiene, which remains tight, are beginning to settle up 8 cts/lb, sources say...

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