The US base oil market has currently experienced a significant price surge, with prices rebounding by x.xx at the beginning of February xxxx. This upswing comes after a period of relative stability in January xxxx, and it signals a potential shift in market dynamics. Several major producers, including Calumet, ExxonMobil, HollyFrontier Sinclair, Paulsboro, and Safety-Kleen, have announced price hikes amid tight supply and demand imbalances.
Key Takeaways:
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Major producers announced price hikes due to tight supply and monthly rising crude oil costs.
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The threat of tariffs is creating artificial demand.
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High prices are expected to continue in the near term, impacting lubricant costs and potentially consumer prices.
As per ChemAnalyst, the base oil prices are expected to surge in the coming weeks due to upcoming maintenance turnarounds. In March xxxx, Chevron is scheduled to begin a three-week turnaround at its...
