Tung oil Tung oil Tung oil or China wood oil is a drying oil obtained by pressing the seed from the nut of the tung tree ("Vernicia fordii"). Tung oil hardens upon exposure to air, and the resulting coating is transparent and has a deep, almost wet look. Used mostly for finishing / protecting wood, after numerous coats the finish can even look plastic-like. Related drying oils include linseed, safflower, poppy and soybean oils. The oil and its use are believed to have originated in ancient China and appear in the writings of Confucius from about 400 B.C. Raw tung oil tends
World oil market chronology from 2003 two major oil suppliers reducing supply generated fears of a repeat of the 1973 oil crisis. The mid-July decision of Saudi Arabia to increase oil output caused little significant influence on prices. According to the oil minister of the Islamic Republic of Iran, Gholam-Hossein Nozari, the world markets were saturated and a Saudi promise of increased production would not lower prices. Several Asian refineries were refusing Saudi petroleum in late June because they were over priced grade. On July 3, "the Brent North Sea crude contract for August delivery rose to $US145.01 a barrel" in Asian trade. London Brent crude