With crude shooting over$70 per barrel, players apprehensive about base oil price hikes had their suspicions confirmed this week. All naphthenic producers announced increases of up to 25 cents per gallon, and Flint Hills Resources raised its paraffinic postings by 10 cents to 15 cents per gallon.
Effective yesterday, Aug. 4, Flint Hills Resources increased its postings for 70 and 75HC grades by 15 cents/gal; 100 and 230HC rose 10 cents/gal; and 600HC climbed 15 cents/gal. Flint Hills markets half of the output of the 21,900 barrel per day API Group II Excel Paralubes refinery in Westlake, La. ConocoPhillips markets the other half of the refinerys base oil production.
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