Fourth-quarter base oil posted prices have been steadier than earlier in 2016 and certainly have seen more stability than in the fourth quarter of 2015. Less volatility in the upstream crude oil markets has been the underlying platform for steadier base oil posted prices. Posted prices set a top mark on the price spectrum while contract and market pricing have seen wide discounting. This has also taken place during the fourth quarter, driven partly by the typical seasonal slowdown in demand and partially by a few pockets of supply length.
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