EMEA Base Oil Price Report 27.07.21
Prices for certain grades of base oils have fallen sharply over the past few weeks, particularly API Group l grades – some of which have fallen by more than $100 per metric ton. Some say that this was inevitable given the speed of the preceding run-up and the heights that prices reached during May and June.
Although solvent neutral prices have been slashed, bright stock appears to be holding up and has dropped only slightly from its peak. API Group II and Group III base stocks appear to be riding out any pressure from buyers trying to negotiate lower numbers for August deliveries. Lighter viscosity grades of Group II have seen some downward adjustments over the past week or two, but Group III remains short and hence firm, with the upper boundary of price ranges remaining steady.