22 July 2013 18:22 [Source: ICIS news]
HOUSTON (ICIS)--US base oil producer ?xml:namespace>
The producer said continued tight supply of its naphthenic oils and escalating crude oil prices are the primary reasons for the increase initiative.
Other naphthenic base oil suppliers were mulling price increases because of similar reasons, but no other price announcements as yet have emerged.
Naphthenic oil, also called Pale oil, 60 grade viscosity spot prices were most recently assessed at $3.50-3.68/gal (€2.66-2.80/gal) FOB (free on board) plant.
Heavy Pale 2400 oil grade, extensively used in tyre production, was last assessed in spot prices at $3.35-3.82/gal FOB plant.
Naphthenic oil prices last increased in November 2012, market sources have said.
($1 = €0.76)
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.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections