INSIGHT
Samantha Wright, Senior Editor Manager
Base Oil Report
Europe European Group I domestic spot values were mixed in mid-January with renewed trading interest met by healthy supply. Group II spot prices remained unchanged with demand slow to restart after the festive period. Group III spot prices slipped down mid-January amid bearish sentiment in the market. European Group I export spot values were unchanged with limited activity seen at the start of 2025.
US
US activity was muted to open 2025, and prices remained stable amid a lack of buying interest. Temperatures fell below freezing along the US Gulf Coast refining hub, which caused some refiners to take precautionary measures and reduce rates. Downward pressure may persist, but sellers have less pressure to move inventory now that year-end tax considerations are over.
Asia
Asian spot prices were mixed in mid-January as market players restarted trading following the New
Year. Discussions in China were livelier amid improved buy-interest, while most import talks in India were hamstrung by a preference for competitively priced and readily available domestic supply. Nevertheless, import volumes remain necessary for buyers with volume requirements that cannot be fulfilled locally.
Middle East
Spot prices for Middle East base oils were mainly stable to firm in mid-January. Iranian export prices in particular saw a rise, buoyed by improved demand early in the new year. A recovery in crude oil prices combined with stronger consumption in the Iranian domestic market lent support to higher deals undertaken this week. The Group II imports’ market continued to see limited activity, with Asian material thinly discussed. Asian 500N/600N export offers stayed firm amid supply constraints, but regional importers turned to sourcing competitively priced US material on a need-to basis. The availability of 150N in the local market in adequate quantities at competitive prices largely steered UAE’s importers away from initiating fresh discussions for Asian product.
www.icis.com
LUBE MAGAZINE NO.185 FEBRUARY 2025
65
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68
