Argus Base Oils USGC Group III domestic price
Overview
Argus USGC Group III base oil price assessments capture the value of domestic trade for premium-grade base oils sold from tankage in the US gulf coast with a minimum of 50 tons. The price reflects the latest changes in demand-supply fundamentals in the US market on a weekly basis, where the majority of volumes sold are imported from South Korea and the Mideast Gulf.
Argus was the first price reporting agency to launch domestic Group III price assessments as stricter lubricant specifications boosted demand for the premium-grade base oil and led to a need for an independent price to benchmark the value of the product.
This price is published in the weekly Argus Base Oils and Argus Americas Base Oils services.
Price assessment details
What are the advantages of the Argus Base Oils USGC Group III domestic price assessment?
Demand for Group III base oils in the US continues to increase. More domestic production is creating a more competitive market, with a majority of supplies still coming from imports.
With a robust methodology for assessing the value of Group III base oils sold in the US Gulf that incorporates both products originally imported from global producers and produced domestically, Argus provides a dynamic price reference that is truly reflective of market fundamentals in the US.
How is this assessment used?
The prices are used by importers, distributors and blenders looking to purchase Group III base oils in the US. Some market participants prefer using Argus USGC domestic spot price assessments, instead of posted prices, in their contracts in the US market.
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