Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 14 August.

Europe PE sellers request hikes for extra volume on strong demand
Polyethylene (PE) demand has been stronger then expected for producers in August and some are now approaching the market with hikes for extra volumes, sources said on Friday.

EU to take close look at DowDuPont, fears ag impact
The European Commission has opened an in-depth probe into the proposed $130bn combination of US-based majors Dow Chemical and DuPont, it said on Thursday.

Europe polymer-grade propylene to remain tight into September
The European polymer grade propylene (PGP) market remains tight in August and into September, despite the summer holidays, on healthy downstream demand and because of a spate of output constraints, said market players on Thursday.    

Crude demand may slow as gasoline cracks worsen – OPEC
The decline in crude oil prices during past weeks may continue into September and the fourth quarter due to “lingering concerns” European and US refiners could cut their runs in the face of falling spreads between gasoline and crude oil, the Organization of the Petroleum Exporting Countries (OPEC) said on Wednesday. 

Potential BP China petchems JV sale could buoy capital – analyst
The potential sale of UK energy major BP’s 50% stake in China petrochemical business Secco could buoy capital reserves during a period of low oil prices and heavy quarterly losses, an energy analyst at London-based Canaccord Genuity said on Tuesday.

Europe spot styrene eases lower so far in August
European spot styrene numbers have eased lower this month amid healthy regional availability, sources said on Tuesday.

Europe MX market waits for August direction, spot activity muted
Weak gasoline blending demand so far this month has seen spot activity muted in the European mixed xylenes (MX) market, sources said on Monday.

Europe spot PE prices up as monthly prices slip
European polyethylene (PE) players are seeing an upturn in spot prices in August, even as monthly prices slip, and producers are witnessing strong demand in spite of the holiday season, sources said on Monday.

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