Due to the increasing feedstock prices, Mineral Turpentine Oil Pricing rose in North America throughout the second quarter of 2022. Petroleum’s market worth as a raw material increased during the quarter due to supply issues, which increased upstream costs to produce Mineral Turpentine Oil and raised its price. Mineral Turpentine Oil’s cost has also increased due to demand from numerous downstream sectors like paints and varnishes. The cost of Mineral Turpentine Oil increased in the domestic market because of rising energy prices, freight expenses, and backed-up ports brought on by the tensions surrounding the Russia-Ukraine war.
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