US paraffinic posted prices continue rise

12 March 2008 17:21  [Source: ICIS news]

HOUSTON (ICIS news)--Another string of paraffinic base oil price hikes hit the Americas as ConocoPhillips, SK E&P, Chevron and PDVSA announced plans to lift posted prices by 7 to 15 cents/gal, buyers confirmed on Tuesday.

The hikes followed initiatives by other sellers including ExxonMobil, Sunoco, Citgo, Valero, Calumet, Motiva and Flint Hills last week.

Chevron increased its Group II paraffinic base oil prices for 220 and 600 grades by 15 cents/gal, effective 11 March. The company said it planned to keep its 100 grade price unchanged.

Chevron’s posted price for 100 grade has been holding at $3.30/gal since 5 December, according to global chemical market intelligence service ICIS pricing.

Effective 7 March, ConocoPhillips issued hikes on 80, 110 and 600 grades by 10 cents/gal, 225 grade by 11 cents, and 70 grade by 7 cents. On its Group III oils, Conoco increased prices by 15 cents/gal across the board, effective on 7 March.

SK E&P raised its Group III base stocks by 15 cents/gal, effective 10 March.

PDVSA increased prices from Venezuela effective 5 March. Prices for grades 85, 100, 150, and 300 were lifted by 15 cents/gal, and prices for 600 grade and brightstock increased by 20 cents/gal.

 

By: Heather McGuire Doyle
+1 713 525 2653

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