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NGLs Week

NGLs Week Newsletter  

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Petchems stocks move up as crude jumps: PCW index

HOUSTON, August 19, 2016 (PCW) –- Petchems companies’ stocks made gains as crude rose nearly 11% during the week amid chatter of possible production freezes.

The midstream sector saw the biggest gains as its average stock price rose $1.39/share, or 4.34%, to $33.44/share. Kinder Morgan was in the lead with its shares up 8.76% week on week, largely on the bank of Morgan’s Stanley’s upgrade of the stock.

The olefins/polyolefins group was next as its average stock price was up $0.91/share, or 1.53%, to $60.47/share. Williams’ 6.8% jump pulled the basket higher, thanks to news breaking on Thursday that Enterprise Product Partners had approached the Tulsa-based company for a buyout. Reports stated Williams had turned down the deal.

The aromatics/refinery sector was next as its average stock price gained 81 cents/share, or 1.41%, to $58.42/share. Shell led the pack with its shares picking up 2.82% as Raymond James and Stifel Nicolaus upgraded the supermajor to a ‘Buy.’

The vinyls group’s average stock price moved up 20 cents/share, or 0.51%, to $38.77/share. Ply Gem’s 10.87% decline was tempered by gains in other companies’ shares. -– Samantha Hartke

*Index components:

Weekly Stock Price Index
  This Week Last Week Difference % Difference
Midstream Average 33.44 32.05 1.39 4.34
Olefins/Polyolefins Average 60.47 59.56 0.91 1.53
Aros/Refinery Average 58.42 57.61 0.81 1.41
Vinyls Average 38.77 38.58 0.20 0.51
Major Economic Indicators
  This Week Last Week Difference % Difference
EUR/USD 1.13 1.11 0.02 1.88
Dow Jones Indices 18597.70 18613.52 -15.82 -0.08
S&P 500 2187.02 2185.79 1.23 0.06
WTI crude 48.22 43.49 4.73 10.88