ExxonMobil raises term prices of all base oils grades by $30/tonne

20 March 2013 06:32  [Source: ICIS news]

SINGAPORE (ICIS)--Energy major ExxonMobil will raise term prices for all grades of Group I and II base oils by $30/tonne (€23/tonne) from 4 April this year, buyers said on Wednesday.

“We have received a notification that term prices will be further raised by $30/tonne across all grades of base oils,” a Singapore buyer said.

This follows ExxonMobil’s recent announcement in early March to raise the prices of heavier grades of base oils such as SN500 and brightstock by $30/tonne from 19 March.

Following ExxonMobil’s latest announcement, SN150 term prices rose by $30/tonne, SN500 term prices were up by $60/tonne and brightstock prices climbed by $60/tonne for the March-April period.

ExxonMobil could not be immediately reached for comment.

($1 = €0.78)

By: Serena Seng

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