With crude oil coming off highs around $82 per barrel for WTI on Monday, it could be that the downward spiral is starting again. However, this time the starting point was somewhat greater than the $80 barrier which has applied over the past six months or so, while crude was vacillating between $70 and $80/bbl. Some players have advocated that the spread is now between $80 and $90, so the market is seeing the bottom end of the possible range.
Interesting though this argument might be, the overall effect of the general increase in crude oil values will be to place pressure on feedstock values, and ultimately on base oil prices.
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