Weekly Lubricant Report: Absence of a Clear Trend in Lubricant Market

Today we have the 100th weekly lubricant market report. We are happy that you were with us for 100 weeks.

As mentioned in last week’s reports, the price of Brent crude oil could not break the price limit of 85 dollars and reach higher than this price. But, in the current situation, the price is around 79 dollars. 

These market fluctuations, which include Singapore fuel fluctuations, alternatively record a decrease and an increase, do not show a specific trend to the market players, and different signals are received from the market. 

In the last week, the Singapore fuel price decreased by 32 dollars, and it increased by 10 dollars on the first day of this week.

Considering the reduction of restrictions related to zero covid in China, in addition to causing concern for the spread of Corona in different countries, which has caused limitations for Chinese travelers for some countries, it also seems to have improved the economic conditions for China and other countries.

Despite the change of management at the Central Bank of Iran, the dollar rate initially decreased and then returned to its previous level.

And it made the price of exported commodities from Iran feasible for many countries, but customers are still looking for lower prices.

In India, it seems that there are many discounts given by traders and the government has not finalized the necessary budget for some projects. We should wait for another reduction in the price of oil products in India for the middle of January.

Currently, Bandar Abbas FOB price of recycled base oil is 720 dollars, caustic soda is 800 dollars, and paraffin wax is trading at 1000 to 1020 dollars.

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