Americas top stories: weekly summary
ICIS Editorial
23-Apr-2018
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.
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