SK Enmove – formerly SK Lubricants Americas – communicated a posted price decrease for its API Group III base oils this week, with softer crude oil values and lengthening supply thought to be driving the initiative. Base oil demand showed an uptick as the lubricant spring production season gets underway, although activity was still somewhat subdued. Orders were expected to gain impetus as manufacturers build product inventories to cover increased consumption ahead of the summer driving season, which was expected to be stronger than in the previous three years.
Severe winter weather continued to threaten transportation and power supply in many parts of the United States.
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