U.S. Base Oil Price Report

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Valero has joined the latest round of paraffinic price hikes, raising its postings 17 cents to 20 cents per gallon, and San Joaquin Refining announced that its naphthenic oils will go up 15 cents per gallon across the board.

Valero Marketing and Supply increased its API Group I postings effective Friday, March 19. SN 100 and bright stock rose by 20 cents per gallon; SN 165 went up 17 cents/gal; and SN 500 and 700 climbed 18 cents/gal.

Every paraffinic supplier that posts prices has now joined this March round of paraffinic price moves except SK, which had no changes to report as of the close of business yesterday.

On the pale oil side, San Joaquin Refining stepped out with an across the board increase of 15 cents/gal, effective March 30. This is the first San Joaquin price change since early November, the company noted, and is demand driven. The company plans to bring production up to 100 percent of capacity to meet the uptick in demand.

Naphthenic sources agreed that demand is stronger, particularly for higher viscosity products. While some producers said they were considering price changes, no further price moves were announced by the end of the day yesterday.

At the close of the Tuesday, March 23 NYMEX session, light sweet crude futures ended at $81.91 per barrel, a 21 cent increase compared to the March 16 settlement at $81.70.

Historic U.S. posted base oil prices and WTI and Brent crude spot prices are available for purchase in Excel format.

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