US base oil prices eased by 2.4% in the third week of January 2026 as oversupply weighed on the market amidst temporary supply disruptions. Trading activity was light as it was further dampened by the Martin Luther King Jr. federal holiday. Although weather disruption and a refinery maintenance reduced supplies locally, enough base oil stocks were available to keep the supply in check. The value of feedstock crude oil had turned around in recent weeks, but refiners could not increase prices to match higher costs because of weak lubricant sales and buyers who were cautious. The opening of a new US Lubricants distribution depot in the Philadelphia area highlighted longer-term confidence in the lubricants sector, but had minimal short-term impact. In general, the fall in base oil prices represented a demand-driven weakness rather than a tightness in supply.
Selenis has effectively manufactured recycled PET chips using terephthalic acid sourced from Circ®, a textile-to-textile recycler based in Virginia. The chip production took place through a series of batches at Selenis' pilot plant in San-Giorgio, Italy. By utilizing inputs recovered from polycotton textile waste, Selenis has created high-quality PET chip, which has been further processed into DTY yarn. This yarn will play a crucial role in product development as Circ prepares for additional capsule launches. Selenis is leveraging the success of this initial collaboration phase and is committed to advancing towards an offtake partnership to support Circ's inaugural industrial facility.
Eduardo Santos, Head of Corporate Strategy at Selenis, remarked that the monomer synthesis showed a performance comparable to virgin terephthalic acid. He expressed optimism about the consistent quality of Circ's monomer output and anticipated future commercial success. Santos pointed out that the Circ partnership complements Selenis's existing mission and goals for a more sustainable textile industry. He further stated their anticipation of expanding upon this collaboration and providing support for Circ's forthcoming commercial production trials.
