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NGLs Week

NGLs Week Newsletter  

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Petchems stocks advance alongside crude: PCW index

HOUSTON, September 23, 2016 (PCW) – Petchems companies’ stocks were higher during the week that crude oil increased 5.49%.

The midstream sector once again moved in lockstep with crude with its average stock price up $1.62/share, or 5.12%, to $33.27/share. Enterprise Product Partners was in the lead with its shares gaining 6.55% during the week, thanks largely to Credit Suisse upgrading the firm’s rating to an ‘Outperform.’

The vinyls group’s average stock price inched up 22 cents/share, or 0.59%, to $38.11/share. Strong gains from Ply Gem were negated by Occidental Petroleum’s 1.94% decline on the week amid news of corporate executives selling their stock.

The olefins/polyolefins sector rose 25 cents/share, or 0.42%, to $59.59/share. Similar to the vinyls sector, a strong rebound from Williams was washed out by losses from ExxonMobil and Dupont. Dupont’s softening comes on the heels of news that the European Union is halting its review of the company’s potential merger with Dow Chemical, pending more information from the firms. The US Senate is also conducting hearings on the merger amid anti-trust concerns.

Finally, the aromatics/refinery group’s average stock price went practically unchanged at $58.27/share due to mixed stock performances from the companies – gains from Tesoro vs losses at ExxonMobil and Marathon Petroleum. – Samantha Hartke

*Index components:

Weekly Stock Price Index
  This Week Last Week Difference % Difference
Midstream Average 33.27 31.65 1.62 5.12
Olefins/Polyolefins Average 59.59 59.34 0.25 0.42
Aros/Refinery Average 58.27 58.27 0.00 0.00
Vinyls Average 38.11 37.89 0.22 0.59
Major Economic Indicators
  This Week Last Week Difference % Difference
EUR/USD 1.12 1.13 0.00 -0.39
Dow Jones Indices 18392.46 18242.28 150.18 0.82
S&P 500 2177.18 2147.26 29.92 1.39
WTI crude 46.32 43.91 2.41 5.49