This week, chemical market participants are still gathering in Texas, with the AFPM International Petrochemical Conference taking place in San Antonio. Following on from last week’s World Petrochemical Conference in Houston, key topics for discussion continue to be energy transition and profitability.

In refined products, Gulf Coast and Chicago gasoline prices are on the rise after transitioning to summer specifications. Gulf Coast regular gasoline has risen above Gulf Coast diesel for the first time in almost eight months as gasoline stocks have drawn down, and is expected to stay above diesel as a seasonal trend.

The Federal Reserve Bank of Dallas will release its survey of Texas manufacturing, service and retail sectors this week, which could give Texas power market participants insights into power demand and prices. Prices have been trending down, possibly reflecting the private sector’s efforts to slow spending in the face of higher interest rates.

Steel buyers will monitor whether a recent rise in hot-rolled coil prices shifts the direction of the market. The Platts hot-rolled steel coil index last week registered its first increase of the year, and higher domestic prices in the coming weeks could be supported by mill outages and the results of April’s scrap buy week.

I’m Mayara Baggio Bombana. Thanks for kicking off your Monday with S&P Global Commodity Insights.