The U.S. base oil arena maintained its steady course heading into mid-May, continuing a trend that has been in place since early April. Market fundamentals remained balanced, with no recent change to contract prices or supply/demand conditions.
The last posted price adjustments took place in late March to early April, wrapping up a regular series of decreases that had dominated the market since October. During this period, postings fell between $2.60 and $3.15 per gallon, or 45 percent to 66 percent, depending on grade. But now some players are anticipating that price stability could soon meet with interference.