Americas top stories: weekly summary

Source: ICIS News

2018/07/02

HOUSTON (ICIS)--Here are the top stories from ICIS News from the week ended 29 June.

Court approves Petrobras's $2.95bn settlement in US class-action suit A US federal court approved a $2.95bn agreement that Petrobras reached earlier this year to settle a securities class-action lawsuit, the Brazilian state energy producer said on Monday.

Texas methanol start-up marks beginning of new era in US The commercial start-up of the OCI Natgasoline plant this week marks the beginning of a new era in the US methanol industry.

Initial US June propylene contracts settle at 8 cent/lb increase Initial June propylene contract price settlements are at an increase of 8 cents/lb ($176/tonne) from the prior month, although the settlement is not yet marketwide, sources said on Monday.

US accuses three of insider trading in Sherwin-Williams/Valspar deal The US Securities and Exchange Commission (SEC) accused three traders of profiting from insider information that they had about Sherwin-Williams's acquisition of Valspar.

US June epoxy resin contracts decrease as availability improves US June epoxy resin contracts were assessed at a decrease of 6 cents/lb ($132/tonne), the first decrease for epoxy contracts since September 2017, after the difficult situation seen over the previous two quarters.

US June propylene contracts settle up 8 cents/lb on snug supply US June propylene contracts settled for a majority of the market at an 8 cent/lb increase from the prior month amid snug supply.

US June PP contracts settle higher along with rising monomer costs US June polypropylene (PP) contracts were assessed 8 cents/lb ($176/tonne) higher from May, tracking an equivalent rise in June propylene contracts.

US June PE contracts roll over on higher oil, hurricane fears US June contracts for polyethylene (PE) were assessed at a rollover from May as higher crude-oil costs and supply concerns during the Atlantic hurricane season maintained a price floor.