HollyFrontier lifted all of its Group I prices by 10 cents/gal – including bright stock – but did not move its 500 vis posting, with an effective date of March 26 as well.

Sources reported that ExxonMobil would be increasing postings for all of its API Group I grades by 10 cents per gallon, with the exception of the Group I 600 vis cut, which will not be adjusted. The producers EHC45 and EHC65 cuts will go up by 18 cents/gal, all effective March 27.

Calumet will increase pricing on all of its Group II oils by 20 cents/gallon; this includes grades 325 vis and lighter. There were no changes mentioned for the companys Group I cuts at this time.

Paulsboro Refining Co. will increase all its Group I grades by 10 cents/gal, with the exception of the heavy-vis cuts, with an effective date of April 1.

SK Americas is also raising the price of its Group II bright stock by 10 cents/gal as of April 1.

On the naphthenics side of the business, Calumet will increase pricing on all its naphthenic grades by 15 cents/gallon, effective March 27.

San Joaquin Refining Co. will also be increasing prices by 15 cents/gal to all customers, effective March 29, due to rising feedstock costs.

Along similar lines, Ergon had announced a 15-cent increase for its pale oils last week. Cross Oil implemented a 15-cent hike on its low viscosity naphthenic base oils (ranging in viscosity from 30 SUS to 300 SUS), while its high viscosity base oils (ranging in viscosity from 500 SUS to 3500 SUS) increased by 10 cents/gal on March 22.

Aside from the price revisions, activity was slightly subdued this week as many participants were away at the International Petrochemical Conference of the American Fuel and Petrochemical Manufacturers in San Antonio, Texas.

In related market news, a four-day closing of the Houston Ship Channel following a tank fire and subsequent chemical spill was expected to disrupt transportation and deliveries. Flooding in the Midwest has also forced suppliers to switch from rail to truck transportation as railway tracks were under water, although the flooding was said to be receding. (For more details, see Record Floods Force Distributors to Plan B in this weeks issue of Lube Report).

Upstream, oil futures continued on a firming streak as disruptions to refiners along the Houston Ship Channel kept futures on track for the best first quarter since 2002.

Prices were also supported by news that Russia appeared to be adhering to its pledge to cut output and help offset a global supply glut.

Crude futures have rallied 32 percent this year as OPEC and its allies implement production cuts to stave off a global surplus. American sanctions on Iran and Venezuela have further squeezed supplies, making for a tighter market more susceptible to disruptions like those in Houston, Bloomberg reported.

On March 26, West Texas Intermediate April futures settled at $59.94 per barrel on the CME/Nymex, up 91 cents/bbl from $59.03/bbl on March 19.

Brent futures for May delivery closed at $67.97/bbl on the CME on March 26, and had settled at $67.61/bbl on March 19.

Light Louisiana Sweet crude wholesale spot prices settled at $64.46/bbl on March 25, compared to $67.09/bbl on March 18, according to the Energy Information Administration.

Low sulfur vacuum gas oil closed at May WTI plus $15/bbl ($73.82/bbl); high sulfur VGO was at crude plus $14.00/bbl ($72.82/bbl) on March 25. By comparison, low sulfur and high sulfur vacuum gas oil were both hovering at $74.09/bbl on March 18, according to data published by PetroChemWire.

Historic U.S. posted base oil prices and WTI and Brent crude spot prices are available for purchase inExcel format.