Group I solvent neutral grades in all viscosity ranges moved up this week, in some cases by as much as $90 per metric ton for the more popular oils, having an effect of narrowing the range of prices to $610 to $675/t for solvent neutrals. Bright stock is selling around $775 to $800/t, all basis FOB mainland European ports.
Get alerts when new Sustainability Blog articles are available.
Certain producers have hinted at increasing their Group I base oil capacity where there have been reductions in grade availability over the last year or so. This increase could take up the slack of any increase in demand which is being seen in the region, but the surge in demand being witnessed presently could also promote the arrival of Group II/II+ and Group III oils into the EMEA region.
Ray Masson is director of Pumacrown Ltd., a trader and broker of petroleum products in East Grinstead, U.K. Contact him directly at firstname.lastname@example.org.