Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Commodities

<ul>
<li>For the week ending 02/May, U.S. crude inventories fell by 2m barrels (vs. expectations of a 1.7m barrel fall). Gasoline stockpiles unexpectedly rose; distillate inventories fell less than anticipated.</li>
<li>The EIA reported a 104 Bcf storage build, slightly exceeding the 103 Bcf forecast. Storage levels are 1.4% above the five-year average.</li>
<li>Analysts cut price targets on Exxon, Chevron, Shell, Halliburton, and Schlumberger. Occidental exceeded Q1 EPS estimates but narrowly missed revenue forecasts.</li>
</ul>


For the week ending 02/May, U.S. crude inventories fell by 2m barrels (vs. expectations of a 1.7m barrel fall). Gasoline stockpiles unexpectedly rose; distillate inventories fell less than anticipated.
The EIA reported a 104 Bcf storage build, slightly exceeding the 103 Bcf forecast. Storage levels are 1.4% above the five-year average.
Analysts cut price targets on Exxon, Chevron, Shell, Halliburton, and Schlumberger. Occidental exceeded Q1 EPS estimates but narrowly missed revenue forecasts.


[ETP 2025/19] WTI Wavers on Trade Talk Hopes, Henry Hub Pressured by Uncertain Demand Outlook

Global Editor, Base Oil News

Iain Pocock

Global Editor

Global Base Oils and Lubricants Markets

Base Oil News

Base Oil News focuses on the interplay between fundamentals and prices in the global base oils and lubricants markets.

Baseoilnews.com combines daily, weekly and monthly base oils and lubes fundamentals data from every region of the world to build the most comprehensive and up-to-date global picture of the state of the market.

The data and analysis provide key tools to understand current market developments and opportunities and to anticipate how the market is likely to behave in the coming months.

Base oils producers, lube blenders and consumers can then better plan accordingly.

Baseoilnews.com analyses and publishes market news and data every day as it breaks.

<ul><li>Global base oils prices extend rise vs feedstock/competing fuel prices.</li><li>Outright prices mostly hold firm or rise even in face of ongoing dip in crude oil/diesel prices.</li><li>Contrasting trends point to stronger base oils fundamentals relative to crude/diesel.</li></ul>

Global base oils prices extend rise vs feedstock/competing fuel prices.Outright prices mostly hold firm or rise even in face of ongoing dip in crude oil/diesel prices.Contrasting trends point to stronger base oils fundamentals relative to crude/diesel.

Global base oils margins outlook: Week of 5 May

<ul><li>Europe Group III base oils price trends higher vs prices in US and Asia over past two months.</li><li>Europe Group III price trends higher vs domestic Group I price and VGO, holds firm vs domestic Group II price.</li><li>Europe’s firmer Group III price differentials could reflect correction following sustained weakness.</li></ul>

Europe Group III base oils price trends higher vs prices in US and Asia over past two months.Europe Group III price trends higher vs domestic Group I price and VGO, holds firm vs domestic Group II price.Europe’s firmer Group III price differentials could reflect correction following sustained weakness.

Global base oils arb outlook: Week of 5 May

<ul><li>US base oils prices extend rise vs feedstock/competing fuel prices.</li><li>Rising base oils margins point to supply-demand fundamentals that are firm enough to support the higher price differentials.</li><li>Supply fundamentals likely to be tighter in early Q2 2025 amid heavy round of plant maintenance work in North America.</li></ul>

US base oils prices extend rise vs feedstock/competing fuel prices.Rising base oils margins point to supply-demand fundamentals that are firm enough to support the higher price differentials.Supply fundamentals likely to be tighter in early Q2 2025 amid heavy round of plant maintenance work in North America.

Americas/EMEA base oils supply outlook: Week of 5 May

<ul><li>US base oils demand likely to stay muted in face of slowing economic growth/manufacturing activity, combined with sufficient availability of supply.</li><li>Sliding crude oil prices add to reluctance to buy.</li><li>Supply shows signs of staying sufficient to meet demand even with heavy round of plant maintenance work that follows slump in domestic output in Feb 2025.</li></ul>

US base oils demand likely to stay muted in face of slowing economic growth/manufacturing activity, combined with sufficient availability of supply.Sliding crude oil prices add to reluctance to buy.Supply shows signs of staying sufficient to meet demand even with heavy round of plant maintenance work that follows slump in domestic output in Feb 2025.

Americas/EMEA base oils demand outlook: Week of 5 May

France

TotalEnergies SE operates as an energy company. The Company produces, transports, and supplies crude oil, natural gas, and low carbon electricity, as well as refines petrochemical products. TotalEnergies owns and manages gasoline filling stations worldwide.

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TotalEnergies (TTE US)

[ETP 2025/19] WTI Wavers on Trade Talk Hopes, Henry Hub Pressured by Uncertain Demand Outlook

US crude inventories fell, gasoline stockpiles rose, and analysts cut price targets on major oil companies while Occidental exceeded Q1 EPS...

Mint Finance

Global base oils margins outlook: Week of 5 May

Global base oils prices extend rise vs feedstock/competing fuel prices. Outright prices mostly hold firm or rise even in face of ongoing dip in...

Base Oil News

Global base oils arb outlook: Week of 5 May

Europe Group III base oils price trends higher vs prices in US and Asia over past two months. Europe Group III price trends higher vs domestic...

Base Oil News

Americas/EMEA base oils supply outlook: Week of 5 May

US base oils prices extend rise vs feedstock/competing fuel prices. Rising base oils margins point to supply-demand fundamentals that are firm...

Base Oil News

Americas/EMEA base oils demand outlook: Week of 5 May

US base oils demand likely to stay muted in face of slowing economic growth/manufacturing activity, combined with sufficient availability of...

Base Oil News

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[ETP 2025/19] WTI Wavers on Trade Talk Hopes, Henry Hub Pressured by Uncertain Demand Outlook

​US crude inventories fell, gasoline stockpiles rose, and analysts cut price targets on major oil companies while Occidental exceeded Q1 EPS...

Mint Finance

Global base oils margins outlook: Week of 5 May

Global base oils prices extend rise vs feedstock/competing fuel prices. Outright prices mostly hold firm or rise even in face of ongoing dip in...

Base Oil News

Global base oils arb outlook: Week of 5 May

Europe Group III base oils price trends higher vs prices in US and Asia over past two months. Europe Group III price trends higher vs domestic...

Base Oil News

Americas/EMEA base oils supply outlook: Week of 5 May

US base oils prices extend rise vs feedstock/competing fuel prices. Rising base oils margins point to supply-demand fundamentals that are firm...

Base Oil News

Americas/EMEA base oils demand outlook: Week of 5 May

US base oils demand likely to stay muted in face of slowing economic growth/manufacturing activity, combined with sufficient availability of...

Base Oil News

US crude inventories fell, gasoline stockpiles rose, and analysts cut price targets on major oil companies while Occidental exceeded Q1 EPS...