European carbon fell 1.8% over the week amid slow summer trading, while European gas futures rose 11% on low storage levels and continuing tension around the Strait of Hormuz, per Carbon Pulse's Euro Markets coverage (August 14). EUAs then held steady on Monday in thin trade, failing to recover the previous week's losses as sources cited a weak macroeconomic outlook and easing weather-related fundamentals. On the standards side, the Climate Action Reserve published criteria for insuring carbon credits for use under CORSIA, advancing its framework for the UN aviation offsetting scheme, and a Colombia-based standard recently approved by the ICVCM opened public consultation on new methodologies covering methane from solid waste and fuel substitution in industrial thermal processes. In Australia, the Clean Energy Regulator issued some 1.9 million ACCUs last month amid renewed buying activity, and EY research published Monday urged the government to cap ACCU use at scheme level rather than per facility.
US base oil supply stayed exceptionally tight. Lubes'N'Greases' Weekly Americas report (August 12) records ExxonMobil raising Group I postings 24 cents/gal on SN100, SN150 and SN330 and 36 cents/gal on SN600 and bright stock, plus 48 cents/gal on Group II EHC65 and Group II+ EHC45, effective August 12; HF Sinclair/Petro-Canada lifted Group II+ by 40 cents/gal and Group III by 50 cents/gal on August 14. Group III remains constrained by facility damage and shipping obstruction at ADNOC, BAPCO and Shell Qatar Pearl GTL, with Penthol's force majeure on ADNOC material unchanged. Re-refined barrels continue to bridge the gap left by virgin producers, and re-refiners report their available volumes fully committed. WTI September settled at $83.20/bbl on August 11; Brent at $89.48/bbl on August 12.
Takeaway: re-refiners retain leverage while virgin Group III stays short — lock term offtake rather than pricing off spot. Buyers should plan Q4 volumes now: a five-week Paulsboro Group I outage and a 30-day Petro-Canada Group II turnaround will tighten availability further.
Our indicative CXF US Gulf assessment stands at $21.20/t and CXF re-refining credits at $19.90/t — both held unchanged in this week's Monday re-mark (August 17, 2026). Week-over-week: flat.
Indicative desk marks — not financial advice. Current levels: CXF Price Index.