Group I domestic base oil prices slide on weak demand

10 July 2012 23:59  [Source: ICIS news]

LONDON (ICIS)--European Group I domestic base oil prices have fallen $45/tonne (€36/tonne) this week because of sluggish demand, market sources said on Tuesday.

Base oil prices have taken a step down this week, as sellers reduce offers amid dwindling buying interest.

Expectations of lower prices, the onset of the European holiday season and the ongoing economic crisis are hindering base oil sales.

“It is almost dead,” said a west European supplier. “It is really, really slow.”

Solvent neutral (SN)150 domestic prices were assessed down $45/tonne to $1,265-1,305/tonne FOB (free on board) northwest Europe (NWE) by ICIS.

SN500 prices were assessed down $45/tonne to $1,285-1,320/tonne FOB NWE.

($1 = €0.81)


By: Carl Roache
+44 20 8652 3214



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