All is quiet in the U.S. base oil market these days. Buyers and sellers alike say there is little activity beyond regular orders – typical for the first few weeks in January. Some buyers added, though, that business has picked up a bit from last month, which was unusually slow for December.
Base oil sales usually tail off during December as motor oil blending enters its winter lull and as lubricant companies seek to reduce end-of-year inventories. Base oil demand usually does not revive until spring.
Observers said they sense neither upward nor downward pressure on prices, which were unchanged again this week. The price of crude on the New York Mercantile Exchange closed yesterday at $45.79, per barrel, up $2.02 from a week earlier.
Historic U.S. posted base oil prices and WTI and Brent crude spot prices are available for purchase in Excel format.