Another week passed with two major U.S. players continuing to hold out on the latest round of price hikes for paraffinic base oils. Group II suppliers Motiva and Flint Hills Resources have not followed other suppliers that raised posted prices earlier this month.
Both companies declined to saywhether they are considering increases or have decided to stand pat.
Group III importer SK Corp. also has not joined the latest round of increases but has attracted less attention since it sometimes lags price movements by several weeks.
The cost of crude oil on the New York Mercantile Exchange closed yesterday at $69.93 per barrel, according to Bloomberg. That was$3 lower than the price a week earlier.
Historic U.S. posted base oil prices and WTI and Brent crude spot prices are available for purchase in Excel format.