Cosmetic-grade white oil prices in the United States increased *.*** during the week ending March *, ****, as escalating crude oil feedstock costs and sustained demand from personal care sectors supported firmer CFR Texas quotations. The advance reflected supply-side cost pressures from Middle East conflict-driven logistics disruptions and robust procurement fundamentals.
Crude oil prices surged dramatically during the first week of March, with Brent crude futures advancing approximately *** week-over-week following the escalation of conflict in the Middle East and closure of the Strait of Hormuz. This unprecedented crude oil rally resulted in higher production costs for global white oil refiners, prompting suppliers in Asia, Europe, and the Middle East to quote significantly higher prices for cosmetic-grade mineral oil exports to US buyers. Compounding the feedstock-driven pressures, ocean shipment disruptions intensified as carriers implemented war-risk premiums and emergency surcharges on container vessels forced to...
Leave a Comment
Comments (0)