A few more price increases trickled through the U.S. base oil market the past week, as several suppliers remained preoccupied with disruptions caused by Hurricane Rita. Chevron raised posted prices on the paraffinic side of the market, while Ergon and Cross imposed markups for naphthenics.
Chevron added 9 cents per gallon to its postings on Friday, sources said, becoming just the second Group II supplier to join a round of hikes begun two weeks ago. Calumet raised prices previously, as did ExxonMobil, Citgo, Valero, Sunoco and SK. Three Group II producers – Motiva, ConocoPhillips and Flint Hills Resources – have not moved, apparently because they are still coping with plant shutdowns caused by Rita.
This is the seventh round of hikes for paraffinic oils since late February.
Ergon said Monday that it will increase naphthenic prices by 10 cents Oct. 10, and Cross announced yesterday that it will do the same a day later. Nynas led the current round for pale oils, announcing a dime-sized hike last week. There was no word yet of changes from other naphthenic producers.
Crude oil prices eased a bit the past week. The price on the New York Mercantile Exchange closed yesterday at $63.93 per barrel, Bloomberg reported, down $1.08 from Sept. 28.
Historic U.S. posted base oil prices and WTI and Brent crude spot prices are available for purchase in Excel format.