Black Sea Group I base oil export prices fall amid limited demand

16 April 2013 23:59  [Source: ICIS news]

LONDON (ICIS)--Black Sea Group I base oil export prices have declined $25-30/tonne (€19-23/tonne) this week because of low demand, sources said on Tuesday.

Traders talked of few opportunities to complete deals amid flat demand.

The recent decline of upstream crude oil values was contributing to buyer cautiousness.

“All of a sudden people are stepping on the brake,” said a trader.

Latest business to Turkey indicates lower values, with softer Black Sea offers also in the market this week.

Black Sea solvent neutral (SN) 150 export values were assessed down $25-30/tonne at $930-970/tonne FOB (free on board) Black Sea this week, by ICIS.

 ($1 = €0.77)

 


By: Carl Roache
+44 20 8652 3214



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