Rochester, NY 8/26/2009 3:13:47 PM
Exxon Mobil Corporation XOM, ExxonMobil hikes August Asian base oils by $30-45/tonne
Exxon Mobil Corporation XOM
SINGAPORE Oil major ExxonMobil announced a price increase of $30-45/tonne for group II and I base oils for Asian term buyers effective 6 August, market sources said on Tuesday.According to a Singapore based blender, the price increase for SN-150 and bright stock will be $30/tonne, while SN-500 values would be hiked by $45/tonne.
Information from buyers the price hikes will send prices of SN-150 and SN-500 as well as group II 150 and 500 neutrals for contract buyers close to $800/tonne levels ex-tank Singapore.The hikes reflect the tight supply from the seller and the recent rebound in crude and gas oil prices, said some regional buyers.
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