Base oil markets are quiet, with European holidays extending into the middle of this week and many individuals away from their desks.
Sources reported only a few cargoes being loaded, and these were arranged some time back. Few if any new shipments have been transacted the past few days. There also have been no major changes to underlying fundamentals, such as crude oil costs. Dated deliveries of Brent crude stand at around $64.70 per barrel – $1 higher than last week but with no apparent pressure to rise or fall. West Texas Intermediate is at $58/bbl, up some 50 cents from a week ago.
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