Weekly Lubricant Report: 4.5% Increase in the Price of Lube-Cut

On Monday, the price of  crude oil opened negative, and it is expected that the price of crude oil will decrease due to the increase of Covid in China and the continuation of zero-Covid policies.

Singapore fuel also opened negative and it seems that the market cannot tolerate these high prices yet. Generally, the conditions are different in different parts of the world.

In Iran, within the last two days, the price of crude oil products such as bitumen have increased by 8.9% and lube cut by 4.5%. Altogether,  the conditions in Iran are not in line with the price of oil and are increasing.

Considering that these days should be the best time to export, compared to the same period in previous years, exports have decreased.

The price of caustic soda in Bandar Abbas is $790, recycled base oil is $800 to $810, and paraffin wax is $1,000 to $1,050.

This article was prepared by Mozhdeh Darbandizadeh, the account manager of Infinity Galaxy (www.infinitygalaxy.org).