Weekly Americas

• Motiva, SK Enmove, and Avista Oil have announced increases in posted base oil prices. • The price hikes are driven by recent spikes in crude oil costs and tight global availability of Group II+ and Group III base oils. • In a strategic shift, SK and Chevron have entered into new supply agreements with HF Sinclair.

• Escalating hostilities between the United States and Iran, alongside the renewed closure of the Strait of Hormuz, have disrupted the flow of crude oil and refined products from the Persian Gulf. • These geopolitical tensions have pushed base oil and energy prices to steeper levels due to supply chain instability. • The situation is expected to worsen as Iran-backed Houthi rebels in Yemen threaten to attack shipping companies loading cargoes at Saudi ports on the Red Sea.

• Costa Rica signed a pact on March 27, 2026, to accept 25 migrants deported from the US each week, as part of President Trump's third-country deportation initiative overseen by special envoy Christine Noim. • The agreement advances the Shield of the Americas policy amid broader US immigration enforcement tied to geopolitical pressures. • This development supports US efforts to manage migration flows during escalating Middle East conflicts.