Base Oil Group II H 100 FOB Texas surged during mid-March 2026, up +7.12% from the prior week. The rise reflects continued bullish momentum driven by escalating crude oil prices amid the Strait of Hormuz closure, tightening global supply and raising feedstock costs. U.S. producers, including ExxonMobil, Calumet, SK Enmove, HF Sinclair, Chevron, Excel Paralubes, and Avista Oil, implemented back-to-back hikes, while spot export offers were largely suspended. Rising freight rates and seasonal spring lubricant demand further reinforced upward pressure. Downstream, lubricant manufacturers responded with price increases: Martin Lubricants (+15%), Amalie (+48 cents/gal; grease +7 cents/lb), Highline Warren (+16%), and Omni Specialty Packaging (+50 cents/gal). Diesel price spikes threaten base oil margins, as refinery economics may favor gasoil over base oils. Mid-March pre-buying, inventory accumulation, and automotive demand for API CK-4/FA-4 oils supported the rally.
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.
