ICIS Base Oil Report 11th May 2010

Base Oils (Europe)

DOMESTIC NWE SPOT PRICES

Click for Price History SN 150 FOB NWE SN 500 FOB NWE B/STOC& FOB NWE USD/MT /! USD/MT /!

Price Ra !e "#$%"&$ "'$%"($ /! /!

O e year a!o 5"0#5$5 5%0#$15 '$0#(05

USD/MT /! #$'$%#$($ /!

E)ROPE*N E+PORT PRICES

Click for Price History SN 150 FOB EUR SN 500 FOB EUR B/STOC& FOB EUR USD/MT /! USD/MT /!

Price Ra !e ,'$%,($ ,($%,"$ /! /! /!

O e year a!o "%0#505 505#515 $00#$10

USD/MT /! "&$%#$$$

R)SSI* *ND NIS E+PORT PRICES

Click for Price History SN150 FOB B)*TIC SE) USD/MT /! SN500 FOB B)*TIC SE) USD/MT /! SN150 FOB B*)C& SE) USD/MT /! SN500 FOB B*)C& SE) USD/MT /!

Price Ra !e ,-$%,&$ ,-$%,&$ ,&$%,,$ ,-$%,&$ /! /! /! /!

O e year a!o ""0#"$0 ""0#"$0 "50#"$0 "50#"$0

.EEDSTOC/ PRICES (SPOT)

Click for Price History +)CUUM ,)SOI* FOB RD)M USD/MT#-% -.5/ FUE* OI* FOB RD)M USD/MT#20

Price Ra !e 5"(%5(2 "50%"5#-#21

NOTE: For full details on the criteria ICIS pricing uses in making these price assessments visit www.icispricing.com and click on methodolog!". Su#scri#er note: ICIS pricing will add new price assessments for $roup III #ase oils to the European report on %& 'a!. Individual truck prices for (cSt and )cSt will #e *uoted on an FC+ +msterdam,-otterdam,+ntwerp #asis in ./tonne. 0lease send an! comments to the editor 1ames 'ills 23ames.mills4icis.com5 Traders continued their search for spot availability of Group I base oils but they found little on offer. They said buyers in Turkey, Africa, South America and the Middle East were prepared to pay still hi her prices for European e!ports, but a lack of availability prevented new business. "roducers said they were mostly sold out for May and few could commit material for #une liftin . The ti hter market resulted from better demand, they added. $i h operatin rates were reported at many locations, with no production problems or unscheduled outa es. %uyers a reed that the market for spot material had ti htened, but they said that term suppliers were deliverin contractual &uantities accordin to schedule. %uyers and sellers in domestic European markets said that proposed May price increases were being accepted. A ma'or supplier announced price increases last week of ()*+tonne across all rades to take effect ,- May, the third sharp increase since mid.April. /ther suppliers were attemptin to raise prices by similar amounts. A seller noted buyin resistance to bri htstock offers at levels around (,,***+tonne 0/% northwest Europe, and confirmed published price ran es for S1,)* and S1)** in domestic European markets. Traders su ested that the recent improvement in domestic demand may reflect buyers2 efforts to forestall further price increases by buildin inventory. Some buyers a reed, but said that downstream demand was improvin . /ther buyers complained that prices for finished lubricants were stable and that hi her prices for base oils and additives were s&uee3in blenders2 mar ins.

May price increases for Group III base oils were also takin effect. %uyers and sellers reported individual truckloads of 4cSt and 5cSt material imported from Asia bein sold from stora e in Amsterdam or 6otterdam at prices in the ran e 789*.9**+tonne 0:A. Traders reported low Group I export availability from most European sources. There were si ns that recent price increases were pushin buyers in some e!port markets to the sidelines, but traders said others were willin to pay hi her prices. European S1,)* car oes of 4,*** and ),*** tonnes sold recently to Turkey were reported at prices in the ran e (-;*.-)*+tonne :06, at least one of them loadin in late May in northwest Europe. 6eports that domestic prices in Turkey had increased to levels hi her than (,,***+tonne 0:A Turkish coast were disputed, and some buyers said they would draw down inventories before makin new purchases at hi her price levels. Two production sites in 6ussia were down for scheduled maintenance and a third is e!pected to under o maintenance in late May and early #une. In addition to these limits on supply, 6ussian sellers said that domestic demand was stron er than e!pected. E!port availability from Russia and the newly independent states <1IS= remained thin. Brent crude oil futures for June were tradin 'ust below (9,+bbl late Tuesday after fluctuatin between (89 and (9;+bbl in the previous week. European asoil prices were &uoted at (59>.>). 594.>)+ton 0/% 6otterdam at the end of business on Tuesday, down by almost ()*+tonne from a week earlier. <(, ? 7*.89= S I!!I"G #I$%&R'S('")&IRI'S #I$%&R'S* 1+A '")&IRI'S* 9,*** tonnes @ubes Stanlow+6otterdam ,8.,- May >,-)* tonnes @ubes 0awley+1ynashamn ,*.>* May >,***.;,*** tonnes ;.4 r %ase /il 6otterdam+$amina ppt ;,*** tonnes @ubes @ivorno+%rownsville ,;.,9 May ;,*** tonnes @ubes Al eciras+Guaya&uil A :allao May dates 4,))* tonnes @ubes 6otterdam+"unta :ardon ,.) #une ;,***.4,)** tonnes ; r %ase /il Best Med+6io or %ahia ,$ #une ;,9** tonnes %ase /il Au usta+#ebel Ali ).;, May 4,)** tonnes ; r %ase /il 6otterdam+Mombasa ,.,* #une ;,***.;,;** tonnes %ri htstock Carachi+Antwerp 9.,) May ;,)**.),*** tonnes %ase /il Al eciras+Apapa ,.,* #une >,)** tonnes @ubes 6otterdam+Mohammedia >8.;, May ,,)**.>,*** tonnes > r %ase /il Best Med+Dar es Salaam or Durban >* May.,) #une

,,*** tonnes $eavy Bhite /il Al #ubail+Mumbai or Candla ,).>* May ,,*** tonnes $eavy Bhite /il Al #ubail+Mumbai ppt