Climbing crude oil prices and the return to business of participants following various local holidays offered support to base oil prices, with values said to be unchanged from the previous week's levels. –by Gabriela Wheeler
LNG Publishing Company
Editor, Base Oils
Gabriela Wheeler graduated with an MA in English from California Polytechnic State University in San Luis Obispo. She joined LNG in May 2013 as the editor of the U.S. and Asia base oil price reports, after holding editorial positions at Bobbin Blenheim, Burson Marsteller, and ICIS, where she was responsible for price reporting on several petrochemical markets, as well as base oils.
Wheeler has previously resided in Japan, Argentina, Poland and the Dominican Republic.
While base oil market conditions were deemed generally stable, participants were keeping an eye on production outages and transportation issues caused by severe weather in the Midwest. –by Gabriela Wheeler
Asian base oil prices were weighed down by ample supply, weakening feedstock values and a lack of strong buying interest, but sellers appeared reluctant to adjust pricing due to the prevailing thin margins. –by Gabriela Wheeler
A number of planned and unplanned plant shutdowns and steady demand have resulted in snug supply of certain base oil grades, and while availability was still deemed ample to cover requirements, extra spot barrels were harder to come by. –by Gabriela Wheeler
The approach of the summer holiday period and the long Memorial Day weekend led to a more sedate trading pace, although a majority of participants appeared satisfied with the level of business seen over the last two weeks. –by Gabriela Wheeler
The Asian base oil market was afflicted by a lack of clear price direction due to economic uncertainties, volatile crude oil prices and bulging supply levels. –by Gabriela Wheeler
Gabriela Wheeler says it’s better late than never for the spring uptick in base oil trading.
A cloud of uncertainty seems to hang over the Asian base oils market, resulting in muted trade and largely unchanged price levels. –by Gabriela Wheeler
A majority of base oil suppliers reported steady business and balanced-to-tight conditions, although there were some variations, depending on the grade and whether the seller was more focused on domestic or export sales. –by Gabriela Wheeler
The Asian base oils sector has failed to regain its tempo following recent holidays, and buyers did not appear hurried to enter a market with plentiful availability of most grades and more than adequate inventories. –by Gabriela Wheeler
The dust appears to have settled after the latest round of posted price increases, and a more stable price scenario has emerged, which producers hope will encourage buyers to place orders. –by Gabriela Wheeler
Sliding crude oil and feedstock prices provided a respite to base oil producers, who had been dealing with escalating production costs and lean margins against a backdrop of oversupply conditions. –by Gabriela Wheeler
SK Lubricants Americas and Petro-Canada rounded off the latest string of posted price adjustments with increases for their API Group II+ and III base oils, while on the naphthenic side, San Joaquin Refining joined other pale oil producers, communicating a hike as well. –by Gabriela Wheeler
No significant price fluctuations were reported in the Asian base oils market this week, with activity slowing down slightly on account of Labor Day and other holidays observed in the region. –by Gabriela Wheeler
Trailing earlier price initiatives, Phillips 66 announced an increase for its API Group II+/III grades, while on the naphthenic side, Ergon and Calumet also each communicated an upward adjustment for its pale oils. –by Gabriela Wheeler