Calumet confirmed its plans to lift all naphthenic oils prices by 10 cents per gallon effective August 13. The increase initiative followed other major naphthenic producers who had recently announced price hikes of between 10 and 15 cents/gal. Effective dates were staggered during the first half of August.
The situation driving prices higher was two-fold. Demand was certainly a key support factor, but rising operating costs and squeezed margins also had a significant impact, leading producers to take this price action.
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