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NGLs Week

NGLs Week Newsletter  

PetroChem Wire and Genscape have partnered to create NGLs Week, a comprehensive summary of price trends, upstream and downstream costs, operations news and supply/demand forecasts. The report contains everything you'll need to understand what's happening in the NGL markets.

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Petchems stocks crumble as crude falls below $30/bbl: PCW index

HOUSTON, February 12, 2016 (PCW) -– Petchems companies’ stocks took a beating during the week as WTI crude fell sharply, finishing Thursday below $30/bbl.

Adding further bearish support were softer performances by the Dow Jones Industrial Average and S&P 500.

The midstream sector took the hardest fall with its average stock price down $3.85, or 19.3%, to $16.10/share. Targa led the pack in losses with its stock price down 34.3% in the wake of the company’s release of its preliminary 4Q results, showing large writedowns and a near 50% drop in the value of its recent acquisition Atlas Energy.

The aromatics/refinery sector was next with its average stock price down $3.70, or 6.55%, to $52.75/share. The biggest loser was Marathon Petroleum, whose stock price set a 12-month low of $30.83/share Thursday. Several analysts this week downgraded their price target on Marathon’s stock.

The olefins/polyolefins sector saw its average stock price slide $3.24, or 5.93%, to $51.37/share with losses once again led by Williams. The Tulsa-based company’s stock price shed 29.12% during the week as concerns continued to plague its impending sale to Energy Transfer.

Finally, the vinyls sector’s average stock price declined $1.25, or 3.98%, to $30.10/share. Westlake Chemical took pole position with its stock price losing 8.5% on the week ahead of its 4Q earnings release next week as investors pressured the company to make another bid for Axiall Corporation. –- Samantha Hartke

*Index components:

Weekly Stock Price Index
  This Week Last Week Difference % Difference
Midstream Average 16.10 19.95 -3.85 -19.30
Olefins/Polyolefins Average 51.37 54.61 -3.24 -5.93
Aros/Refinery Average 52.75 56.45 -3.70 -6.55
Vinyls Average 30.10 31.35 -1.25 -3.98
Major Economic Indicators
  This Week Last Week Difference % Difference
EUR/USD 1.13 1.12 0.01 1.05
Dow Jones Indices 15660.18 16416.58 -756.40 -4.61
S&P 500 1829.08 1915.45 -86.37 -4.51
WTI crude 26.21 31.72 -5.51 -17.37