US White Oil Prices Increase Amid Higher Crude and Supply Constraints

U.S. cosmetic-grade White Oil prices increased 0.61% during the first week of September 2026, reflecting a mildly firmer market as stable beauty-sector demand coincided with higher upstream replacement costs. WTI crude prices rose strengthening import-parity values, while refinery maintenance and lower availability of selected intermediates added supply uncertainty. White Oil demand remained stable, particularly across skincare, fragrance and personal-care formulations.

On the supply side, White Oil availability faced moderate cost pressure from the upstream petroleum chain. WTI crude increased approximately 3.59% during the assessment period, raising replacement costs for imported finished material and strengthening supplier pricing leverage. U.S. distillate inventories had also declined from 110.6 million barrels in late July to 103.4 million barrels on 21 August, although they recovered modestly to 104.2 million barrels by 28 August. Refinery utilization subsequently reached 98% in the week ending 28 August, while U.S. crude inventories fell 4.5 million barrels, indicating strong refinery activity. Planned maintenance, including the reported Motiva Port Arthur shutdown, together with maintenance at several Asian plants, nevertheless reduced short-term flexibility. These conditions kept White Oil supply adequately available but increased sellers’ cost exposure.

Demand for cosmetic-grade White Oil remained stable, supported by continued consumption across skincare, fragrance, creams and other personal-care formulations. U.S. beauty-market growth provided a constructive underlying demand signal, with Circana identifying fragrance and skincare as leading categories during the first half of 2026. Broader industry data also indicated that U.S. beauty sales rose 7%, reflecting continued consumer spending on self-care and wellness products. This environment helped maintain regular purchasing by cosmetic formulators despite cautious inventory management. However, White Oil demand was not sufficiently strong to generate aggressive stock-building, meaning the price increase was driven more by rising replacement costs and supply-side uncertainty than by a significant consumption surge. Thus, White Oil buyers remained active enough to absorb firmer offers without creating a pronounced shortage.

Looking ahead, White Oil prices are expected to increase through September as producers and converters resume normal procurement after the summer lull. Cosmetic manufacturers are likely to increase purchases for autumn and winter product launches, while buyers may build precautionary inventories ahead of potential Golden Week-related supply and logistics disruptions affecting Asian imports. Continued hurricane risks along the U.S. Gulf Coast could further encourage safety-stock accumulation because storms can disrupt refinery operations, ports and inland transportation.

However, White Oil prices are anticipated to soften during November and December as Golden Week-related disruptions fade, import availability improves and earlier stockpiling reduces fresh purchasing. Normalizing refinery operations and year-end destocking should further weaken procurement, shifting the market toward a softer trend after the September–firmness.