Flint Hills Resources increased four API Group II postings by 25 cents per gallon. On the pale oil side, San Joaquin Refining is preparing for a scheduled maintenance turnaround set to begin March 1.
Flint Hills Resources informed customers it raised postings for its Group II 70, 75, 100 and 230 vis grades by 25 cents/gal, effective Monday, Feb. 18. The company did not adjust the 600 posting, which remained unchanged at $4.47/gal.
No other posted price moves were reported this week.
According to San Joaquin Refining, its recent price increase, between 10 cents/gal and 30 cents/gal on naphthenic oils effective Feb. 11, applied primarily to export accounts. The company is preparing for a scheduled maintenance turnaround set to begin March 1 at its 8,100 b/d plant in Bakersfield, Calif. San Joaquin notified customers of the turnaround in early February.
We are preparing for a March 1 shutdown, which we expect to last two weeks or possibly three, the West Coast producer said. Thats part of the reason for the increase – putting people on the same level, and just making sure we dont sell valuable products to the export market and shorten our domestic market.
While inventory is expected to last throughout the scheduled turnaround, San Joaquin noted that if the downtime is extended, an allocation plan may be necessary.
At the close of the Tuesday, Feb.19, CME/Nymex session, front month light sweet crude oil futures ended the day at $96.66 per barrel, down 85 cents/bbl from last weeks settlement at $97.51.
Brent Crude was trading at $117.35/bbl at the end of the day yesterday, down $1.17/bbl from its week-ago level of $118.52.
LLS (Light Louisiana Sweet) crude was trading at a premium of $21.80/bbl to WTI on Tuesday.
Historic U.S. posted base oil prices and WTI and Brent crude spot prices are available for purchase in Excel format.