U.S. Base Oil Price Report – July

It has been another active week in the U.S. base oils market, with no signs of the “dog days of summer” so typical of years past. Demand held at steady levels, making it difficult for suppliers to catch up on orders and build inventories. Spot prices continued to be exposed to upward pressure due to the tight market conditions, but slightly improved availability in certain segments has allowed for values to stabilize. One of the categories that has suffered from the tightest conditions was the API Group I sector. Following several planned and unplanned outages at Group I plants in the first and second quarter of the year, most suppliers were focusing on fulfilling backorders as inventories have been depleted and demand has not let up. READ MORE

 

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