LyondellBasell spikes higher, levels to watch The Houston Biz Journal noted that the CEO of LyondellBasell (LYB) is studying the possibility of converting an ethylene cracker to a Master Limited Partnership, or MLP, structure. The stock spiked higher on that news, but has come in a bit from the highs of the session at $60.64, which is now resistance. Support is at $58.94.
Nomura taking a bullish long-term view on ethylene Nomura believes the market is overestimating the potential decline in ethylene/polyethylene margins. The sees the current global tightness as a bullish sign for 2016-2017 and recommends positioning Dow Chemical (DOW) over LyondellBasell (LYB) due to lower reliance on an upside ethylene margin story.