Singapore producer raises all its base oil prices
A Singapore-based base oil producer is raising its ex-tank Singapore prices for all its grades. The price increase is the fourth since early December.
The producer is raising by $20/t its price for Group I SN 150 and by $50/t its price for SN 500 and bright stock. It is raising by $30/t its price for Group II N150 and by $50/t its price for N500. The new prices are effective from 8 February.
The producer's bright stock premium to SN 150 will rise to $380/t following the price adjustments, the widest since July 2016. The producer's SN 500 premium to SN 150 will rise to $255/t, the widest level on record.
Its Group II N150 premium to Group I SN 150 will rise to $105/t. Its Group II N500 will remain at a $35/t discount to Group I SN 500. The producer's Group II N500 premium to N150 will rise to $125/t, the widest since December 2017.
Base oil prices in the region have risen unusually fast with demand far outpacing tight supply.
Related news posts
Business intelligence reports
Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.
Learn more