Americas top stories - weekly summary

05 September 2011 09:00  [Source: ICIS news]

HOUSTON (ICIS)--Here are some of the top stories from ICIS Americas for the week ended 02 September 2011.

(Please click on the link to read the full text.)

Tropical Storm Lee forms off the US Gulf coast
Tropical Storm Lee has formed in the Gulf of Mexico, the National Hurricane Center (NHC) said on Friday.
Maximum sustained winds for the storm have increased to 40 miles/hour (64 km/hour), with higher gusts. Rain from the storm has already reached portions of south Louisiana.

US ethylene for August begins to settle down 2.2%
Initial US ethylene settlements for August were agreed at 55.50 cents/lb ($1,224/tonne, €857/tonne), down by 1.25 cents/lb from July, market sources said on Thursday.

US September BD to shed 3.3% in first drop in 2011
US butadiene (BD) prices are expected to fall on average by 3.3% in September, market sources said on Wednesday, predicting the first drop for the monthly contract in 2011.

Katia to become major hurricane, may hit Atlantic coast
Tropical Storm Katia will likely strengthen into a major hurricane, with wind speeds of at least 111 miles/hour (179km/hour), US forecasters said on Wednesday.

US ethylene margins rise 2.7% on higher spot prices
US ethylene margins rose by 2.7% in the fourth week of August, lifted by higher ethylene spot prices and softer production costs, the ICIS margin report showed on Tuesday.

US gasoline futures fall on lack of Hurricane Irene damage
Gasoline futures closed lower on Monday after east-coast refineries reported few disruptions caused by Hurricane Irene. 

One US east coast refinery shuts down, 2 cut rates on Irene
At least one refinery remains shut down and two refineries remain at reduced rates following Hurricane Irene's sweep up the US east coast, company spokesmen said on Monday.

Irene begins to fade out over US/Canada border - NHC
Irene was downgraded to a post-tropical storm on Sunday night as it weakened over the US/Canada border, the National Hurricane Center said in its final advisory on the weather system.


By: Bobbie Clark
+1 713 525 2653



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