19 July 2012 17:45 [Source: ICIS news]
HOUSTON (ICIS)--US naphthenic base oil prices are moving down in July on declining demand, sources said on Thursday.
Ergon announced price reductions ranging from 21 cents/gal down on its Pale 60 base oil grade to 26 cents/gal on all other of its naphthenic base oils effective 18 July.
Calumet verified it will decrease its Pale 60 and lighter viscosity grades by 20 cents/gal effective 24 July, with prices on heavier grades to move down by 25 cents/gal on the same effective date.
Cross Oil confirmed it would decrease naphthenic base oil prices by 25 cents/gal on all grades effective 20 July.
Other naphthenic base oil suppliers, including San Joaquin Refinery and Nynas, were considering market conditions and did not announce price changes.
Naphthenic Pale 60 grade is primarily used in transformer oils for a variety of electric carrier applications, as well as some other end-uses. Other naphthenic oils are used in a wide number of applications including metal working fluids and lubricant blending components.
Pale 60 base oil prices were most recently assessed at $3.85-4.05/gal in the US spot market.
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