16 November 2012 17:14 [Source: ICIS news]
HOUSTON (ICIS)--US naphthenic base oil producers confirmed price decreases on Friday.
Ergon announced price reductions ranging from 21 cents/gal down on its naphthenic, also called Pale oil, grades effective 16 November, the company confirmed.
Calumet verified it will decrease its pale oil grades also by 21 cents/gal, effective 21 November.
Cross Oil confirmed it would decrease naphthenic base oil prices by 21 cents/gal, effective 19 November.
Other naphthenic base oil suppliers, including San Joaquin Refinery (SJR) and Nynas, did not confirm price changes.
SJR previously confirmed it did not follow the market in the last round of increases.
Nynas participates primarily in exporting naphthenic base oils, while other of the pale oil suppliers focus in both the US domestic market as well as various degrees of export opportunities.
Spot prices for naphthenic Pale 60 oils, a benchmark light viscosity oil, were most recently assessed at $3.57-3.80/gal, with that spread now pressured down because of the announced reductions.
In heavy grades, spot prices for Pale 2400 were most recently assessed at $3.50-4.00/gal, and are similarly pressured down by the decrease announcements.
Recent price drops in the paraffinic base oil segment also added support to decreases in the naphthenic side.
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