US Group I base oil spot prices down on demand lull

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 Asia were contributing factors as US producers seek to mitigate arbitrage opportunities.

 

 


By: Judith Taylor
+1 713 525 2653



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly