US paraffinic base oil price increases complete

20 August 2013 19:22  [Source: ICIS news]

HOUSTON (ICIS)--US paraffinic base oil posted increases completed today, as each of the participating suppliers have confirmed price moves by Tuesday.

In the Group I tier, HollyFrontier confirmed it will increase its posted prices by 7 cents/gal on light and medium grades and by 15 cents/gal on its heavy grade and brightstock, all effective 23 August.

Calumet said it is moving up its Group I 700 and brightstock oils by 15 cents/gal effective on 21 August.

Group II producer Flint Hills Resources confirmed it will increase its light and mid viscosity base stocks by 10 cents/gal and its heavy grade 600 stock by 5 cents/gal effective on 20 August.

Group II, II+ and III producer Phillips66 earlier confirmed it is moving up all tier grades of base oils by 10 cents/gal effective 16 August.

Group II+ and III producer SK Lubricants also earlier confirmed it is increasing all base oil grades by 10 cents/gal effective 19 August.

The round of announcements began late July as Chevron announced 25 cents/gal increases on its base oils.

Base oil price increases were said to be driven by narrow margins exacerbated by crude oil costs topping $100/bbl during the past two months.

In Group I brightstock prices, HollyFrontier was at $4.60/gal ahead of the increase.

US base oil posted prices vary between grade and producer.

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By: Judith Taylor
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