The base oil market was quiet this week, due largely to today’s U.S. Independence Day holiday. To date, no other producers have announced price moves following last week’s increases by Flint Hills Resources.
However, some producers continue to report pressure on values from fuels, a notion bolstered by the ongoing significant premium for vacuum gas oil over crude oil, as crude oil has rebounded to even higher ground this week. That pressure is reported to be moving some spot values upward. However, some producers opine that further crude oil increases may impact the base oil market more broadly.