US base oil domestic market prices up

HOUSTON (ICIS)–Group I and Group II domestic market prices were assessed up this week, according to the ICIS Americas Base Oil report on Wednesday.

January posted increases are reflecting in the early February domestic market, fostering the higher market price assessments.

Market participants’ input underpinned the upward adjustments. Sources said premiums between certain viscosity grades narrowed, mostly because of excess supply in some grades.

Market participants said heavy-duty applications are utilising more Group II oils, changing the needs for certain grades alongside the increasing switch to more overall use of Group II in the US.

In Group II domestic market spreads, light and mid viscosity grade ranges are assessed up on the push from higher posted prices. The heavy grade 600 spread is unchanged and considered representative for domestic business.

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