In a surprising turn of events, after the announcements of price increases from major players like ExxonMobil and Paulsboro, the Base Oil prices had increased last week. However, during the first half March xxxx, the US Base Oil market stabilized as the negotiations were still ongoing and this wait-and-see approach due to uncertainty about demand and a desire to get a clearer picture of the market kept the Base Oil prices stable. Previously, rising feedstock crude oil prices and supply constraints due to plant turnarounds had put upward pressure on Base Oil prices. Additionally, disruptions in the Panama Canal and increased shipping costs from alternative routes like the Cape of Good Hope contributed to the price rise. However, even though spring is approaching, demand hasn&#xx;t picked up as much as expected. This has led some to question the proposed price hikes, especially since demand for finished lubricants hasn&#xx;t...
