Europe Group I base oil export prices hold amid slow trade, demand

19 March 2013 23:59  [Source: ICIS news]

LONDON (ICIS)--European Group I base oil export prices held steady this week amid thin trading and flat demand, sources said on Tuesday.

European export prices are range-bound this week, having risen steadily since early February.

Outside of a few markets like West Africa and North Africa, demand is limited, traders said.

In Asia, firmer regional demand saw Group I prices rise recently, but European traders do not see open arbitrage opportunities there.

“It [demand] is not great,” said a European trader.

“There are some big missing markets this year, like Turkey and Latin America,” it added.

European SN150 export values were assessed steady at $995-1,025/tonne (€766-789/tonne) FOB (free on board), by ICIS.

 ($1 = €0.77)

By: Carl Roache
+44 20 8652 3214

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