Base oil prices in Europe, the Middle East and Africa seem stable this week, with demand undergoing a seasonal slowdown. Producers sounded content about current values, raising the possibility that current levels could last at least through the end of August.
Crude oil costs have stabilized as dated deliveries of Brent posted yesterday at $77.95 per barrel for September front month. West Texas Intermediate crude was also little changed from last week, trading at $73.85 for August settlement. ICE LS gas oil was static at around $672 per metric ton, still for July settlement. All these prices are based on ICE trade in London late yesterday.