27 June 2013 20:16 [Source: ICIS news]
HOUSTON (ICIS)--US Group I base oil spot prices are moving down, driven primarily by the advent of the summer lull in lubricant demand, buyer sources said on Thursday.
Group I solvent neutral (SN) 100 grade viscosity base oil spot prices were assessed at $3.16-3.33/gal, down 5 cents/gal from the previous range, with the low end of the spread indicative of larger volume purchases.
SN 150 base stock grade also ranged lower, losing the same 5 cents/gal and currently assessed at $3.21-3.36/gal.
Base oil suppliers acknowledged that spot prices are edging lower, also attributing this to a seasonal lull in demand.
Other sources pointed out that ongoing drab demand in Europe and ?xml:namespace>
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