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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 stumble as crude crumbles, settles below $50: PCW index

HOUSTON, June 17, 2016 (PCW) –- Petchems companies’ stocks stumbled during the week as crude saw steep declines and ultimately settled below $50/bbl.

The midstream sector followed crude’s lead most closely with its average stock price down $1.29/share, or 4.06%, to $30.46/share. Sunoco Logistics’ bore the brunt of losses, falling 6.96% week on week amid extremely light trading volumes.

The aromatics/refinery group was next with its average stock price down $2.06/share, or 3.51%, to $56.80/share. Alon saw the steepest tumble with its stock price losing 12.38% during the week as trading volumes appeared to be unusually high. Several analysts have put out cautionary notes about the company’s stock price performance during the week, likely leading to a selloff.

The olefins/polyolefins sector’s average stock price fell 96 cents/share, or 1.59%, to $59.60/share. Williams’ stock price was the hardest hit, declining 4.94% during the week, as its embattled sale to Energy Transfer still remained in limbo. Some analysts urged investors to sell Williams stock, expecting the Tulsa-based firm to reduce its third-quarter dividend should the buyout to ETP fail.

The vinyls group’s average stock price shed 4 cents/share, or 0.09%, to $37.79/share. The losses of most of the companies in this sector was stemmed by Axiall’s 26.15% stock price surge, thanks to news of its purchase by Westlake Chemical of $3.8 billion, $0.7 billion above Westlake’s initial asking price. –- Samantha Hartke

*Index components:

Weekly Stock Price Index
  This Week Last Week Difference % Difference
Midstream Average 30.46 31.75 -1.29 -4.06
Olefins/Polyolefins Average 59.60 60.57 -0.96 -1.59
Aros/Refinery Average 56.80 58.86 -2.06 -3.51
Vinyls Average 37.79 37.83 -0.04 -0.09
Major Economic Indicators
  This Week Last Week Difference % Difference
EUR/USD 1.12 1.13 -0.01 -0.73
Dow Jones Indices 17733.10 17985.19 -252.09 -1.40
S&P 500 2077.99 2115.48 -37.49 -1.77
WTI crude 46.21 50.56 -4.35 -8.60