Weekly Lubricant Report: Rising exports of lubricants

Crude oil prices remained around $82- $83, failed to break the resistance and remained in the same range.

There have been no particular economic events in the market during the last week, but only in Iran due to the high inflation, the exchange rate condition of the dollar against the rial and reaching the all time high about 570,000 rial, the export of oils and lubricants has strongly increased, and at the same time, the suppliers are concerned about their export status because of the fear of lack of raw materials and unknown dollar exchange conditions.

The FOB Bandar Abbas price of recycled base oil is 740-750 USD, paraffin wax is 900-950 USD and caustic soda is in the range 660-670 USD.

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