Cross Oil and Calumet lowered naphthenic base oil prices, following a downward adjustment by Ergon last week and a round of price cuts on the paraffinic side of the market.
Cross Oil communicated that it decreased the price of all of its products, with the exception of its CrossTrans series, by 15 cents per gallon, effective Dec. 22. The adjustments were “due to market conditions,” a company source said.
Calumet moved down prices for its naphthenic oils, effective Dec. 22, as well. The producer’s grades up to 500 vis will be marked down by 20 cents/gal, while 500-vis products and heavier will decrease by 15 cents/gallon.
Similarly, Ergon Refining had implemented a 20 cent/gal decrease on light naphthenic products and a 15 cent/gal reduction on heavier grades on Dec. 16.
On the paraffinic side of the business, a round of price decreases was wrapped up when several API Group I suppliers lowered their light and mid-viscosity grades by 10 cents/gal.
Decreases between 10 cents/gal and 20 cents/gal had also been implemented on Group II/II+/III grades during the previous three weeks.
Upstream, West Texas Intermediate closed on the CME/Nymex at $36.14 per barrel on Dec. 22, down $1.21 per bbl from its Dec. 15 settlement of $37.35.
Brent was trading at $36.11/bbl on the CME on Dec. 22, down $2.34/bbl from $38.45 a week earlier.
Historic U.S. posted base oil prices and WTI and Brent crude spot prices are available for purchase in Excel format.