Europe’s base oils supply from the US and Netherlands combined fell sharply in May from the previous month, easing a build-up of premium-grade supplies in the region.Supply of less than 130,000t of base oils from the US and Netherlands combined fell from more than 215,000t the previous month, government data showed.The May volume was below typical levels of more than 145,000 t/month over the past year. The lower volume partially balanced out the higher-than-usual supplies in April.The US and Netherlands are key sources of Group II base oils for the European market.Europe’s Group II base oils prices maintained steep premiums to prices in US and Asia throughout the second quarter of the year.The firm prices boosted the attraction of moving more premium-grade supplies to the region.Europe’s supplies showed signs of rebounding strongly in June amid a pick-up in shipments from the US. .US’ May base oil exports to Europe rise
Europe’s base oils supply from the US and Netherlands combined fell sharply in May from the previous month, easing a build-up of premium-grade supplies in the region.Supply of less than 130,000t of base oils from the US and Netherlands combined fell from more than 215,000t the previous month, government data showed.The May volume was below typical levels of more than 145,000 t/month over the past year. The lower volume partially balanced out the higher-than-usual supplies in April.The US and Netherlands are key sources of Group II base oils for the European market.Europe’s Group II base oils prices maintained steep premiums to prices in US and Asia throughout the second quarter of the year.The firm prices boosted the attraction of moving more premium-grade supplies to the region.Europe’s supplies showed signs of rebounding strongly in June amid a pick-up in shipments from the US. .US’ May base oil exports to Europe rise