As this week ends so does 2008, and all is quiet on the home front in the U.S. base oils market.
A few sources remarked that even though trade has been very slow since mid-fourth quarter, activity came to a grinding halt in the second half of December.
Even producers chopping posted prices a week earlier by approximately 60 cents per gallon for virtually all grades did not spawn any fresh spot business transactions, sources commented.
For now, players from both the buy and sell sides are looking forward to a new start and hoping that business does pick up to a more normal pace in the first quarter.
At the close of the Tuesday, Dec.30, NYMEX session, front-month light sweet crude futures settled at $39.03 per barrel, a marginal gain of 5 cents from the week earlier close at $38.98.
Carolyn L. Green, based in Houston, can be reached directly at carolynlgreen@gmail.com.
Historic U.S. posted base oil prices and WTI and Brent crude spot prices are available for purchase in Excel format.