Singapore base oil producer raises prices

Market: Oil products
01/04/21

A base oil producer based in Singapore has raised its ex-tank Singapore prices for all of its grades. The price increase is its sixth this year and third in March.

The producer has raised its ex-tank Singapore price for Group I SN 150 by $100/t. It raised its price for SN 500 by $150/t and its bright stock price by $220/t. The producer also raised its Group II N150 by $120/t and its price for N500 by $180/t. The new prices took effect on 30 March.

Following the increased, the producer's bright stock premium to SN 500 has risen to $285/t, the widest since June 2016. Its bright stock premium to SN 150 rose to $870/t, the widest in more than a decade.

The producer's SN 500 premium to SN 150 has risen to $585/t, also its largest in over a decade.

Its Group II N500 discount to Group I SN 500 increased to $205. The producer's Group II N500 premium to N150 rose to $295/t, also the biggest in more than a decade.

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