U.S. Base Oils Market Firms in Q1

摘要

U.S. base oil prices rose in the first quarter of the year on the back of tightening supplies. Availability of virgin and re-refined supplies tightened, even amid a weaker than usual pickup in seasonal demand in March. A wave of exports and a heavy round of refinery maintenance during the first three months of the year added to the tightness. Domestic and export spot prices gradually increased from January to March. Argus domestic U.S. spot prices for paraffinic light grades rose by 30 to 36 cents per gallon during the period.