In the latest market update, it was heard that Motiva will be decreasing the postings of its API Group II 110 and 220 cuts 10 cents per gallon, effective Aug. 7. The price of the producer’s Group II 600 grade will remain unchanged. There are no price revisions from other U.S. producers at this time.
WTI settled on the CME/Nymex at $45.74 per barrel on Aug. 4, down $2.24 per barrel from its July 28 settlement of $47.98 per barrel.
Brent crude was trading around $49.99 per barrel on the CME on Aug. 4, down $3.31 per barrel from $53.30 per barrel a week ago.
Gabriela Wheeler is away.
Historic U.S. posted base oil prices and WTI and Brent crude spot prices are available for purchase in Excel format.