Likewise, it was heard that postings for the producer’s Group II EHC 65 (230 vis) and Group II+ EHC 45 (130 vis) moved down 10 cents/gal on the same date.

In a similar fashion, HollyFrontier adjusted down its light and mid-vis Group I grades by 10 cents/gal on Dec. 14. The supplier’s heavy-vis cut and bright stock remained unchanged.

Paulsboro communicated that it would also be decreasing its two light-vis grades 10 cents/gal as of Dec. 17.

There were no price changes for Calumet’s heavy-vis and bright stock cuts.

Another decrease emerged in the Group II+ category as well. Kleen Performance Products reduced its Group II+ postings (120 and 240 vis) by 10 cents/gal, effective Dec. 14.

On the naphthenics front, Ergon Refining announced that it would be implementing a 20 cent/gal decrease on light naphthenic products and a 15 cent/gal drop on heavier grades for the North American market on Dec. 16.

Tepid demand and plummeting crude oil and feedstock prices were said to be behind the fresh round of price cuts, which were initiated by Motiva on Group II base oils on Dec. 1. The remainder of Group II, II+ and III producers stepped out with decreases between 10 cents/gal and 20 cents/gal over the last couple of weeks.

Crude oil prices rebounded by nearly 3 percent on Tuesday on short covering, reversing a downward trend that had sent futures to 11-year lows. However, analysts expected crude oil prices to remain under pressure as the market is oversupplied.

West Texas Intermediate closed on the CME/Nymex at $37.35 per barrel on Dec. 15, down 16 cents per bbl from its Dec. 9 settlement of $37.51.

Light Louisiana crude was trading at $37.74/bbl on Dec. 14, according to data from the U.S. Energy Information Administration.

Brent was trading at $38.45/bbl on the CME on Dec. 15, down $1.81/bbl from $40.26 a week earlier.

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