The Base Oils Market-Hovering Between Tightness and Oversupply

摘要

U.S. base oil prices have been on a downward trajectory since May, when seasonal demand slowed and supplies started to build after the startup of ExxonMobil's Bay-town, Texas, base oil expansion this spring. But downward price pressure has been modest, and refiner postings have shown exceptional resilience to a falling crude oil market in July. The Argus domestic Group II N100 price fell by less than S0.10/USG to S2.03/USG between early June and early August, half the drop seen in the Light Louisiana Sweet (LLS) crude oil market that fell by $9/barrel ($0.20/USG) to$55/barrel($1.30/USG).