FINWIRES · TerminalLIVE
FINWIRES

Global Chemical Spot Markets Drift Lower as US Methanol Gains, TPH Energy Says

By

Global chemical spot indicators were flat to lower over the week, with US methanol the sole outperformer amid tightening supply conditions, TPH Energy strategists said in a Wednesday note.

Matthew Blair, analyst at TPH Energy, said that US methanol rose $3 to $541 per metric ton, supported by supply constraints from planned and unplanned outages in key producing regions, including China and Malaysia.

The increase lifted the quarter-to-date average by $194/mt. Methanex Corporation (MEOH) is seen as the primary beneficiary of firmer methanol pricing.

Elsewhere, China vinyl acetate monomer prices posted the sharpest weekly decline, falling 5 cents to 49 cents, as improved global supply weighed on prices following the completion of Dow's Texas City VAM plant turnaround in mid-May.

Despite the weekly weakness, the quarter-to-date average remains higher, up 26 cents. Celanese (CE) is viewed as most exposed to VAM dynamics within coverage.

Elsewhere, TPH said that US polyethylene fell 4 cents to 66 cents per pound, US polypropylene dropped 3 cents to -71 cents/lb, and US polyvinyl chloride declined 1 cent to 39 cents/lb. Southeast Asia caustic soda was down $20 to $435/mt, while US methyl tertiary-butyl ether slipped 9 cents to $3.40/gal and US styrene eased 1 cent to 63 cents/lb.

On the other hand, US ethylene dichloride and China acetic acid were broadly unchanged over the week at 11 cents/lb and 20 cents/lb, respectively.

Price: $59.97, Change: $-0.17, Percent Change: -0.28%

Related Articles

Commodities

Update: Ex-BP Chair Reportedly Says He Was Dismissed Without Explanation

(Updated with BP's comments in paragraphs 3, 4 and 7)Former BP (BP) Chairman Albert Manifold said on Wednesday that he was dismissed without warning or explanation and intends to challenge the energy firm's version of events, according to multiple media reports.BP ousted Manifold on Tuesday after eight months, citing "serious concerns" regarding "governance standards, oversight and conduct.""Albert has helped bring a welcome focus and pace to BP's transformation. However, the Board has been surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action," said Amanda Blanc, Senior Independent Director at BP.BP appointed Ian Tyler as interim chair with immediate effect.Though the British energy major provided no further details, the decision reportedly followed complaints concerning Manifold's behavior toward employees, the mishandling of sensitive information, and attempts to bypass the board."I was removed without warning and without explanation," Manifold reportedly said. "I dispute entirely the characterization of my conduct, and I will not allow a false narrative to go unchallenged."BP directed requests for comment on Manifold's departure to its previously issued press release.Manifold's dismissal marks the latest chapter in a prolonged period of leadership upheaval at BP, which has cycled through three CEOs in as many years. The move raises fresh questions about internal processes as the company attempts to reverse years of poor performance.Manifold, who joined BP in October after leading building-materials giant CRH, was viewed as a driving force behind the energy firm's strategic reboot.His departure consolidates the authority of CEO Meg O'Neill, whom Manifold hired last year. O'Neill, the first female CEO of a major integrated oil company, began reshaping the firm with a restructuring plan announced within weeks of taking the role last month.Prior to his departure, investors had welcomed several of Manifold's initiatives, including his push to prioritize core oil and gas investments, improve operational efficiency and divest non-core assets.BP signaled on Tuesday that it intends to maintain the strategy initiated under Manifold.Price: $41.41, Change: $-1.25, Percent Change: -2.92%

$BP
Commodities

US Energy Exports Hit Record High in 2025, EIA Says

US energy exports climbed to a record high in 2025 while imports declined, pushing the country's net energy exports to an all-time high, the US Energy Information Administration said on Wednesday.Total US energy exports reached 31 quadrillion British thermal units in 2025, up 2% from the previous record set in 2024, the EIA said. Energy imports fell 5% to 21 quads.As a result, the US posted net energy exports of 11 quads in 2025, a 20% increase from the prior record set a year earlier.Petroleum remained the dominant component of US energy trade, accounting for 63% of total energy exports and 83% of imports in 2025. Petroleum exports stayed near record levels, with shipments primarily destined for markets in North America, Europe, and Asia.The EIA said the growth in petroleum exports over the past decade was driven by the lifting of US crude oil export restrictions in 2016, expanded domestic production and export infrastructure, and stronger global demand. European demand for US crude and petroleum products also increased following bans on Russian seaborne crude oil imports in 2022 and petroleum product imports in 2023.The US Gulf Coast remained the nation's only net petroleum-exporting region. Its export surplus offset net petroleum imports across all other US regions, leaving the country as a net petroleum exporter overall.Total petroleum imports into the US fell 6% in 2025 to 17 quads, the EIA said.Natural gas ranked as the second-largest source of US energy exports for the ninth consecutive year. US natural gas exports rose to a record 9 quads in 2025, representing 29% of total energy exports.The EIA said US natural gas exports have quadrupled since 2015 as domestic production and LNG export capacity expanded to meet rising global demand. Europe's efforts to replace Russian energy supplies after Moscow's 2022 invasion of Ukraine also boosted demand for US LNG exports.Natural gas accounted for 16% of total US energy imports in 2025. Imports from Canada continued to play a key role in balancing seasonal supply and demand fluctuations, particularly during winter periods of heightened heating demand.

Commodities

Ex-BP Chair Reportedly Says He Was Dismissed Without Explanation

Former BP (BP) Chairman Albert Manifold said on Wednesday that he was dismissed without warning or explanation and intends to challenge the energy firm's version of events, according to multiple media reports.BP ousted Manifold on Tuesday after eight months, citing "serious concerns" regarding "governance standards, oversight and conduct."Though the British energy major provided no further details, the decision reportedly followed complaints concerning Manifold's behavior toward employees, the mishandling of sensitive information, and attempts to bypass the board."I was removed without warning and without explanation," Manifold reportedly said. "I dispute entirely the characterization of my conduct, and I will not allow a false narrative to go unchallenged."BP did not immediately respond to' request for comment.Manifold's dismissal marks the latest chapter in a prolonged period of leadership upheaval at BP, which has cycled through three CEOs in as many years. The move raises fresh questions about internal processes as the company attempts to reverse years of poor performance.Manifold, who joined BP in October after leading building-materials giant CRH, was viewed as a driving force behind the energy firm's strategic reboot.His departure consolidates the authority of CEO Meg O'Neill, whom Manifold hired last year. O'Neill, the first female CEO of a major integrated oil company, began reshaping the firm with a restructuring plan announced within weeks of taking the role last month.Prior to his departure, investors had welcomed several of Manifold's initiatives, including his push to prioritize core oil and gas investments, improve operational efficiency and divest non-core assets.BP signaled on Tuesday that it intends to maintain the strategy initiated under Manifold.Price: $41.44, Change: $-1.21, Percent Change: -2.84%

$BP