As May got under way, U.S. base oil suppliers reveled in the fact that customer orders were showing much improvement over a somewhat disappointing April. Volumes are projected to be very healthy by many accounts, and a few sources speculated that this more positive trend could easily last through June. April's slowdown had been somewhat surprising, as March was considered a decent month and a good kick-off to the "spring fling" buying season. However, some players now suspect the market was just taking a breather or waiting for dispatches from the economic front. That pause appeared to have paid off, as several positive signs emerged to inject a big boost of optimism in late April/early May. Encouragingly, U.S. stock market activity climbed to historic levels in the first week of May. The Dow Jones Industrial Average shot over the 15,000 point level, and the Standard and Poor's 500 also struck a new high.
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