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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 falter as crude weakens, US dollar strengthens: PCW index

HOUSTON, March 24, 2016 (PCW) -– Petchems companies’ stocks slid during the holiday-shortened week as crude slipped below the $40/bbl mark and the US dollar softened against the Euro.

The midstream sector, which usually follows crude’s lead, was the week’s biggest loser. Its average stock price fell $1.36/share, or 5.42%, to $23.66/share. Targa saw the largest increase with its stock price up 7.18% on increased buying from institutional investors and upgraded ratings from several analysts.

The olefins/polyolefins sector’s average stock price shed $1.48/share, or 2.48%, to $58.35/share. Williams continued to drag the entire group down as its share price fell 8.45% week-on-week. Not only did several large funds reduce their stakes in the Tulsa-based company this week, but several analysts only revised downward their estimates of Williams’ 2Q earnings.

The vinyls group was next with its average stock price 60 cents/share, or 1.72%, lower at $34.31/share. Occidental Petroleum led the pack in losses with its stock down 3.35% during the week. The late sell-off largely came on the back of news that the company’s CEO, Stephen Chazen sold a sizeable number of his shares last week, according to an SEC filing.

Finally, the aromatics/refinery sector saw its average stock price soften $1.03/share, or 1.68%, to $60.21/share. Phillips 66 saw the largest tumble as its shares fell 7.08% as heavy options activity on the refiner’s stocks and increased short calls were seen.– Samantha Hartke

*Index components:

Weekly Stock Price Index
  This Week Last Week Difference % Difference
Midstream Average 23.66 25.02 -1.36 -5.42
Olefins/Polyolefins Average 58.35 59.83 -1.48 -2.48
Aros/Refinery Average 60.21 61.23 -1.03 -1.68
Vinyls Average 34.31 34.91 -0.60 -1.72
Major Economic Indicators
  This Week Last Week Difference % Difference
EUR/USD 1.12 1.13 -0.01 -1.22
Dow Jones Indices 17502.59 17481.49 21.10 0.12
S&P 500 2036.71 2040.59 -3.88 -0.19
WTI crude 39.79 40.20 -0.41 -1.02