The market is quiet with many players at the Independent Lubricant Manufacturers Associations 2012 annual meeting held Oct. 13-16 in Scottsdale, Ariz.
Posted prices in the United States rested unchanged this week. Despite the ILMA meeting being under way, sources indicated demand for October is building steadily.
A few sources indicated to Lube Report that the price increases for API Group I that took place some weeks ago may be unsteady, though that has yet to be determined.
At the close of the Tuesday, Oct. 16, CME/Nymex session, front month light sweet crude oil futures ended the day at $92.09/barrel, a drop of 30 cents/bbl from last weeks settlement at $92.39, and remaining a very narrow range all week.
Brent Crude was trading at $113.74/bbl at the end of the day yesterday, a loss of 68 cents/bbl from its week-ago level of $114.42. LLS (Light Louisiana Sweet) crude was trading at a premium of about $21.70/bbl to WTI on Tuesday.
Historic U.S. posted base oil prices and WTI and Brent crude spot prices are available for purchase in Excel format.