Americas top stories: weekly summary

Source: ICIS News


HOUSTON (ICIS)--Here are the top stories from ICIS News from the week ended 20 April:

Tight supply, import prices pressure up US epoxy after bullish Q1
US epoxy resins continue to be pressured up by tight supply and high import prices, much like in the first quarter.

US crude futures surge $1.95/bbl on declining inventories
NYMEX WTI crude futures for May delivery hit the highest level for 2018 as well as a three-year high, settling at $68.47/bbl, up $1.95 on Wednesday, in response to the weekly supply statistics from the Energy Information Administration (EIA) showing a drawdown in crude oil, gasoline and distillate inventories.

US spot ethylene falls to 16-year low on soft sentiment, ample supply
US spot ethylene on Thursday fell below the 14.25 cent/lb floor that it had been trading at for nearly two weeks, as supply remains long and sentiment remains soft. Front-month April ethylene traded at 14.00 cents/lb on Thursday, matching lows set 16 years ago in March 2002.

Largest US methanol plant closer to start-up with mechanical completion
This year’s big event in US methanol drew a little closer on Friday as OCI announced that its new Texas plant is mechanically complete.