Americas top stories: weekly summary

HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 29 December:

US crude futures surge by $1.50/bbl on Libya pipeline blast
NYMEX WTI crude futures for February delivery hit fresh 2017 highs on Tuesday, settling at $59.97/bbl, up $1.50, in response to reports that a pipeline moving crude oilto the Libyan Es Sider terminal had been blown up in what appeared to be an act of sabotage.

OUTLOOK ’18: Chemical M&A drivers in place but players turn cautious
It’s been a roaring mergers and acquisitions (M&A) cycle in global chemicals, but the tide may be turning as players turn cautious as the economic cycle heads into the late stages and many commodity chemicals may be near peak profitability.

PotashCorp, Agrium get US nod for merger, deal to close 1 January
Canadian fertilizer majors Potash Corporation of Saskatchewan (PotashCorp) and Agrium have received clearance from the US Federal Trade Commission (FTC) for their planned merger, the companies said on Wednesday.

OUTLOOK ’18 US chemical industry experiencing renaissance
Despite disruptions from several major hurricanes three-quarters into the year, the US chemical industry grew in 2017, with similar growth expected for 2018 thanks to continued investments, as well as gains in a wide spectrum of industries.

OUTLOOK ’18: US acetone set to tighten on production cutback
The US acetone market is set to face tighter supply and pressure to increase import volumes in 2018 because of an impending production cutback in January.