US base oils imports rose to a five-month high in September amid a rebound in Group III base oils shipments from the Mideast Gulf and from Indonesia.Total imports of 1.36mn bl (191,000t) in September rose from less than 970,000bl the previous month, government data showed.Imports still fell by 28pc and for a fifth month from year-earlier levels.The sustained slowdown cut total shipments to 11.41mn bl in the first nine months of the year. The volume was down 7pc from 12.31mn bl during the same period last year.Imports of 7.31mn bl in the six months to September fell at a steeper 15pc pace from year-earlier levels.The rise in imports in September from the previous month followed a sustained rise in US Group III prices relative to prices in Europe in the second and third quarters of the year, ICIS data showed.US Group III prices rose from a discount of more than $200/t to Europe prices in April to less than $30/t in August. They rose to a premium to Europe prices at the beginning of September..US’ Sept base oils exports rise
US base oils imports rose to a five-month high in September amid a rebound in Group III base oils shipments from the Mideast Gulf and from Indonesia.Total imports of 1.36mn bl (191,000t) in September rose from less than 970,000bl the previous month, government data showed.Imports still fell by 28pc and for a fifth month from year-earlier levels.The sustained slowdown cut total shipments to 11.41mn bl in the first nine months of the year. The volume was down 7pc from 12.31mn bl during the same period last year.Imports of 7.31mn bl in the six months to September fell at a steeper 15pc pace from year-earlier levels.The rise in imports in September from the previous month followed a sustained rise in US Group III prices relative to prices in Europe in the second and third quarters of the year, ICIS data showed.US Group III prices rose from a discount of more than $200/t to Europe prices in April to less than $30/t in August. They rose to a premium to Europe prices at the beginning of September..US’ Sept base oils exports rise