Commentary

North American feedstocks slipped a bit last week on falling crude oil prices. ethane lost about 2 cts/gal and naphtha lost about 3 cts/gal. propane lost 5 cts/gal, while butane fell 2 cts/gal. U.S. spot olefins were mostly flat. Spot ethylene lost about a penny, while both grades of spot propylene were notional at a loss of 2 cts/lb. There is still no ethylene contract settlement, market players say. European spot naphtha declined $35/m.t. on lower feedstock and energy prices. This offset a tightening due to an outage at BP’s Gelsenkirchen, Germany cracker to...

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