The US Base Oil prices remained relatively stable during the first week of December xxxx on the back of countervailing factors. While the prices were unchanged, the overall market sentiments were bearish due to a decline in demand from the downstream lubricants sector and a cautious stance from the suppliers due to the seasonal destocking activities. Despite the subdued market activity due to the Thanksgiving holiday in late November, the suppliers were reluctant to decline the Base Oil prices further due to the sudden tightening of supply which offset any mounting pressure and resulted in unchanged prices for Base Oil.
As December xxxx begins, the Base Oil prices in the USA remained unchanged with Group II Hxxx prices holding steady at USD x,xxx per metric ton. The market sentiments were lulled due to the seasonal destocking activities. Many Base Oil buyers adopted a cautious approach, opting to...
