Shortage causes further rise in bright stock prices

Shortage of bright stock worldwide has caused prices to rise further in all regions, according to Base Oil Market Weekly’s report on May 23. The US$100 per metric ton price difference between Western Europe domestic prices (US$1,635-1,675) and FOB export prices (US$1,530-1,570) reflected tight supply and strong demand. Meanwhile, CFR North East Asia prices were reported at US$1,630-1,680 per metric ton; FOB South East Asia at US$1,600-1,630; ex-tank South East Asia at US$1,650-1,695; and, CFR India at US$1,620-1,670. (May 23,2011)