Polyethylene is a plastic used in many products, from food packaging and containers to automotive components. Ethane, a natural gas liquid, is the U.S. chemical industry's main feedstock.
During the Obama years, NGL prices recovered from the Great Recession.
The U.S. Pipeline and Hazardous Materials Safety Administration (PHMSA) said on Jan. 13 it has passed a rule to boost safety requirements on the country's oil and refined products pipelines.
China's crude oil imports jumped to a record high in December as refiners stepped up purchases ahead of a possible OPEC deal to cut supply and bolster prices, and as more independent refiners won import permits, Reuters reported.
Mizuho expects rising demand from petrochemical plants to bolster ethane.
Crude inventories rose 4.1 MMbbl in the week to Jan. 6, the EIA said, higher than analyst expectations for a 1.2-MMbbl build.
2016 NGL prices, led by butane, soar in December to match the previous year’s averages.
An expanded Panama Canal opens up opportunities for U.S. exporters, especially in LNG and ethane markets.
The deal was one of five authorized by Brazil's audit court, which asked Petrobras to temporarily suspend its asset sale program on Dec. 7, Reuters reported.
MOL has certain management control at INA under an agreement with the Croatian state, which holds 45% of INA, Reuters reported.
Freeze in the Northeast heats up prices for natural gas and NGL.
NGL ‘barrel’ hits its highest level since December 2014, driven by soaring prices of the butanes.