White Oil Price Trend and Forecast

North America

White Oil prices have remained on the upper edge in the US market throughout the fourth quarter 0f 2022. Elevated inflationary pressures across the globe coupled with tight monetary policies have accelerated the pricing dynamics of White Oil in the US market. The cost support from upstream raw materials was limited, as reported by market participants. In November, the prices of natural gas escalated and pressured the production costs of White Oil in the domestic region. Furthermore, the procurement from the downstream personal care sector was average, and the competitive offers from other countries have weighed on the market fundamentals of White Oil. The ChemAnalyst database has shown that White Oil cosmetic grade CFR Texas was settled at USD 2359 per ton in Q4-end. 

APAC

In the Indian domestic market, the prices of White Oil have retained their downward trajectory in the entire Q4. The prices fell amid abundant supplies and a slowdown in demand from the overseas market. The demand from the downstream personal care sector was not sufficient to cause a rise in the market value of White Oil. The market has operated at low levels, and the shipment has been lowered. On the upstream front, the cost support from upstream Crude Oil has also weakened and supported the decline in the price realizations of White Oil in the fourth quarter. In addition, the freight rates have also remained on the lower end. Consequently, White Oil WT 150 FOB JNPT prices were settled at USD 1038 per ton in December.

Europe

In the fourth quarter of 2022, the prices of White Oil have demonstrated mixed market sentiments. The high inflation, coupled with limited supplies of natural gas, has hampered the market growth of White Oil in the domestic region. The procurement of White Oil from the end-use industries was limited, prompting the traders to reduce their offers and increase the shipments amid the destocking season in December. The Crude Oil Prices have remained in the negative territory throughout the fourth quarter and weakened the market sentiments. Furthermore, high natural gas prices have impacted production costs and culminated in lower operating rates. However, at the end of Q4, the inflationary pressures have been eased, and manufacturing activities been improved in the German market.

ChemAnalyst addresses the key problematic areas and risks associated with chemical and petrochemical business globally and enables the decision-maker to make smart choices. It identifies and analyses factors such as geopolitical risks, environmental risks, raw material availability, supply chain functionality, disruption in technology and so on. It targets market volatility and ensures clients navigate through challenges and pitfalls in an efficient and agile manner. Timeliness and accuracy of data has been the core competency of ChemAnalyst, benefitting domestic as well as global industry in tuning in to the real-time data points to execute multi-billion-dollar projects globally.

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