The delivery of premium-grade base oils from the Mideast Gulf to key global outlets fell to a three-month low in October amid a sharp dip in supplies from the UAE and Bahrain.The US, Europe and Asia took delivery of more than 215,000t of base oils from UAE, Bahrain and Qatar combined in October, government and customs data showed.Several key Group III base oils plants are situated in the three countries.The October volume fell from around 240,000t the previous month and from more than 270,000t in August.Supplies fell because of a slump in shipments from the UAE to around 30,000t in October, from more than 60,000t the previous month.Supplies from Bahrain fell to around 30,000t in October, from close to 45,000t the previous month.The slowdown in shipments from those two markets mostly affected supplies bound for the US and especially for Asia.That region took delivery of less than 5,000t from Bahrain and UAE combined in October, down from more than 30,000t the previous month.Europe by contrast took delivery of more than 34,000t from the two countries in October, up from close to 25,000t the previous month.The diverging trade flows coincided with growing pressure on Group III base oils prices in Europe and easing pressure on Group III prices in Asia relative to other regions in the fourth quarter of the year, ICIS data showed..Oct base oils imports from Qatar rise
The delivery of premium-grade base oils from the Mideast Gulf to key global outlets fell to a three-month low in October amid a sharp dip in supplies from the UAE and Bahrain.The US, Europe and Asia took delivery of more than 215,000t of base oils from UAE, Bahrain and Qatar combined in October, government and customs data showed.Several key Group III base oils plants are situated in the three countries.The October volume fell from around 240,000t the previous month and from more than 270,000t in August.Supplies fell because of a slump in shipments from the UAE to around 30,000t in October, from more than 60,000t the previous month.Supplies from Bahrain fell to around 30,000t in October, from close to 45,000t the previous month.The slowdown in shipments from those two markets mostly affected supplies bound for the US and especially for Asia.That region took delivery of less than 5,000t from Bahrain and UAE combined in October, down from more than 30,000t the previous month.Europe by contrast took delivery of more than 34,000t from the two countries in October, up from close to 25,000t the previous month.The diverging trade flows coincided with growing pressure on Group III base oils prices in Europe and easing pressure on Group III prices in Asia relative to other regions in the fourth quarter of the year, ICIS data showed..Oct base oils imports from Qatar rise
