24 March 2011 21:30 [Source: ICIS news]
HOUSTON (ICIS)--Shell has declared force majeure (FM) on ethylene and will restrict US deliveries to 90% in April, market sources said on Thursday.
A Shell spokesperson could not immediately confirm the information.
Market sources cited some difficulties Shell was having to access storage wells in Mont Belvieu, Texas, following the fire at the Enterprise Products facility in early February.
Ethylene for March traded on Thursday at 59.50 cents/lb ($1,312/tonne, €932/tonne), up from 58.50 cents/lb the previous day.
($1 = €0.71)
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