Phillips 66, Motiva, Calumet, HollyFrontier, ExxonMobil and PBF (Paulsboro Refining) last week announced base oil price increases, their second or third such increase this year.
Phillips 66 increased its Group II+/III base oils, Ultra S2, Ultra S3, Ultra S4 and Ultra S8 all by 20 CPG, effective February 20, 2018. Late last month, Phillips 66 increased its Group II+/III base oils, Ultra S2 and Ultra S3 by 24 CPG and Ultra S4 and Ultra S8 by 22 CPG, effective January 25, 2018.
Motiva increased postings for its N105 (STAR 4), N220 (STAR 6) and N600 (STAR 12) Group II and its 4 cst (STAR HVI 4) and 6 cst (STAR HVI 6) Group III base stocks by 20 CPG, effective February 13, 2018. Motiva announced a couple weeks prior a price increase for its 4 cSt (Star HVI 4) and 6 cSt (Star HVI 6) Group III base oils by 10 CPG. In early January, Motiva increased prices of its Star 4, Star 6 and STAR 12 by 10 CPG, effective January 5, 2018.
Calumet increased prices on all paraffinic Group I and Group II base oils; Calpar 325 and lighter grades increased by 20 CPG, and heavier than 325-vis increased by 15 CPG effective February 16, 2018. A couple weeks ago Calumet increased the price of its CALPAR™ 4GIII (Group III 4 cSt) base oil by 22 CPG effective February 1, 2018 and earlier this year, Calumet increased all Group II Calpar grades (80, 100, 150, 325) by 15 CPG, effective January 19, 2018. Calpar 600 (Group I) also increase by 15 CPG at that time with no increase to Calpar 2500 (Paraffinic Bright Stock).
HollyFrontier Refining & Marketing announced a price increase on its SN 70 through SN 350 grades by 20 CPG and its SN 500 through SN 150 BS grades by 15 CPG effective February 16, 2018. Last month, HollyFrontier increased the price of its Group I base oils by 15 CPG on all grades except Brightstock, effective January 26, 2018.
Sources advised us that ExxonMobil’s CORE (Group I) and EHC (Group II/II+) prices increased by 20 CPG, with the exception of its Group I SN600 and bright stock, which increased by 15 CPG effective February 16, 2018. In January, ExxonMobil increased the price of its Group I base oils by 15 CPG, except bright stock, which remained unchanged. It also increased its Group II and II+ base oils by 22 CPG, all effective January 26, 2018.
PBF Holding announced it would be increasing posted prices on its VP 100 through VP 165 by 20 CPG and its VP 500 through VP 150BS by 15 CPG effective February 21, 2018. PBF also noted its base oil products blended with these oils are also increasing 15-19 CPG. Last month, Paulsboro Refining increased its Group I base oils by 15 CPG effective January 31, 2018.
On Friday, February 16, West Texas Intermediate futures closed on the CME/Nymex at $61.67 per barrel. Brent was trading at $64.84 per barrel on the CME on February 16.