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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 lower as crude tumbles: PCW index

HOUSTON, April 7, 2016 (PCW) -– Petchems companies’ stocks flagged this week as crude stumbled even as other economic indicators remained relatively stable.

The vinyls sector took the biggest hit with its average stock price down $1.45, or 4.12%, to $33.78/share. Armstrong World Industries led the pack in losses with its stock price 15.59% lower week-on-week amid unusually high trading volumes. Several institutional investors were said to have lowered their stake in the company this week. On Monday, its subsidiary Armstrong Flooring, North America’s largest producer of resilient and wood flooring products, completed its spinoff from AWI.

The midstream group was next with its average stock price falling 73 cents, or 2.93%, to $24.18/share. Sunoco Logistics took pole position in this group with its shares down 4.71% even as several analysts upgrade the company’s rating to a ‘Buy.’

The aromatics/refinery sector was next with its average stock price losing $1.40, or 2.31%, to $59.14/share. Tesoro saw the largest decline, falling 4.87% week-on-week as several large investors lowered their stake in the company. Additionally, gasoline cracks softened substantially during the week and Tesoro’s proposed oil terminal in Washington State faced opposition from the port authorities.

Finally, the olefins/polyolefins group’s average stock price shed $1.07, or 1.84%, to $57.23/share. Olefins prices continued to recover from recent multi-year lows, likely stemming further losses. Westlake’s stock price fall-off was in the lead, down 5.66% during the week. The company said this week it had upped its bid for Axiall Corporation, which was quickly spurned by the latter company. Westlake is now moving to a proxy fight in its bid to acquire Axiall.–- Samantha Hartke

*Index components:

Weekly Stock Price Index
  This Week Last Week Difference % Difference
Midstream Average 24.18 24.91 -0.73 -2.93
Olefins/Polyolefins Average 57.23 58.30 -1.07 -1.84
Aros/Refinery Average 59.14 60.54 -1.40 -2.31
Vinyls Average 33.78 35.23 -1.45 -4.12
Major Economic Indicators
  This Week Last Week Difference % Difference
EUR/USD 1.14 1.14 0.00 -0.04
Dow Jones Indices 17541.96 17685.09 -143.13 -0.81
S&P 500 2041.91 2059.74 -17.83 -0.87
WTI crude 37.26 38.34 -1.08 -2.82