Rumors swirled last week about hefty price increases, but industry sources now say that the market has tempered, crude and VGO prices have dipped, and they expect no immediate movement – up or down – in posted base oil prices.
Theres still pressure, said one base oil supplier, but the market has tempered. The crude price fall-off has everyone watching.
VGO prices are back to their level before the second August price hike, noted another base oil supplier, and the fuels market has come down, reducing pressure on base oil pricing.
A base oil buyer agreed: We dont expect to hear anything right now.
Posted paraffinic base oil prices are unchanged from last week. The price of crude on the New York Mercantile Exchange closed yesterday at$63.10 per barrel,down $2.48 from a week earlier.
Historic U.S. posted base oil prices and WTI and Brent crude spot prices are available for purchase in Excel format.