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.

Commodities

<ul><li>US base oils export price-premium to feedstock/competing fuel prices extends fall at end-July 2025.</li><li>Weaker base oils export margins and signs of rising surplus supply could incentivize refiners to adjust output.</li><li>Steadier domestic base oils margins, and steady removal of surplus supplies in overseas markets, could instead curb any such moves.</li></ul>

US base oils export price-premium to feedstock/competing fuel prices extends fall at end-July 2025.Weaker base oils export margins and signs of rising surplus supply could incentivize refiners to adjust output.Steadier domestic base oils margins, and steady removal of surplus supplies in overseas markets, could instead curb any such moves.

Americas/EMEA base oils supply outlook: Week of 4 August

<ul><li>Group II heavy-grade base oils premium to light grades is almost the same in US, Europe and Asia markets at same time and for first time in more than five years.</li><li>Similar price-spreads in all those markets contrast with diverging fundamentals driving those similar price-spreads, especially in Europe.</li><li>Similar price-spreads in US vs other markets follow sustained weakness of US heavy-grade prices because of persistent surplus supply.</li></ul>

Group II heavy-grade base oils premium to light grades is almost the same in US, Europe and Asia markets at same time and for first time in more than five years.Similar price-spreads in all those markets contrast with diverging fundamentals driving those similar price-spreads, especially in Europe.Similar price-spreads in US vs other markets follow sustained weakness of US heavy-grade prices because of persistent surplus supply.

Global base oils arb outlook: Week of 4 August

<ul><li>Asia’s Group II heavy-grade base oils price-premium to gasoil holds steady at lower level, close to levels in Q4 2024.</li><li>Lower heavy-grade base oils margins and falling regional cargo price point to weaker supply-demand fundamentals.</li><li>Even at lower level, price-premium remains at level that incentivizes refiners to maintain steady output of the product.</li></ul>

Asia’s Group II heavy-grade base oils price-premium to gasoil holds steady at lower level, close to levels in Q4 2024.Lower heavy-grade base oils margins and falling regional cargo price point to weaker supply-demand fundamentals.Even at lower level, price-premium remains at level that incentivizes refiners to maintain steady output of the product.

Asia base oils supply outlook: Week of 4 August

<ul><li>Global base oils prices mostly fall relative to feedstock/competing fuel prices, with export values under more pressure.</li><li>Even at lower levels, price-differentials mostly hold at levels that sustain incentive for refiners to maintain output of most base oils grades.</li><li>FOB Asia base oils cargo prices hold steady versus Singapore gasoil.</li></ul>

Global base oils prices mostly fall relative to feedstock/competing fuel prices, with export values under more pressure.Even at lower levels, price-differentials mostly hold at levels that sustain incentive for refiners to maintain output of most base oils grades.FOB Asia base oils cargo prices hold steady versus Singapore gasoil.

Global base oils margins outlook: Week of 4 August

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.

<ul>
<li>WTI crude prices are on the way to close the week higher, supported by trade optimism, better economic data from the U.S., and ongoing geopolitical tensions.  </li>
<li>U.S. natural gas slips as mild weather, strong production, and unclear short-term demand weigh on prices.</li>
<li>Chevron adds John Hess to its board after merger approval; Shell tops Q2 estimates; Aramco partners with Cloudera to bring AI to energy.</li>
</ul>


WTI crude prices are on the way to close the week higher, supported by trade optimism, better economic data from the U.S., and ongoing geopolitical tensions.  
U.S. natural gas slips as mild weather, strong production, and unclear short-term demand weigh on prices.
Chevron adds John Hess to its board after merger approval; Shell tops Q2 estimates; Aramco partners with Cloudera to bring AI to energy.


[ETP 2025/31] WTI Climbs While Henry Hub Swings; Shell Beat Estimates; Aramco Bets on AI

United Kingdom

BP P.L.C is an energy company. The Company explores and produces oil and natural gas, refines, markets, and supplies petroleum products, as well as generates solar energy, and manufactures and markets chemicals such as terephthalic acid, acetic acid, acrylonitrile, ethylene, and polyethylene. BP serves customers worldwide.

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BP (BP US)

Americas/EMEA base oils supply outlook: Week of 4 August

US base oils export price-premium to feedstock/competing fuel prices extends fall at end-July 2025. Weaker base oils export margins and signs of...

Base Oil News

Global base oils arb outlook: Week of 4 August

Group II heavy-grade base oils premium to light grades is almost the same in US, Europe and Asia markets at same time and for first time in more...

Base Oil News

Asia base oils supply outlook: Week of 4 August

Asia’s Group II heavy-grade base oils price-premium to gasoil holds steady at lower level, close to levels in Q4 2024. Lower heavy-grade base oils...

Base Oil News

Global base oils margins outlook: Week of 4 August

Global base oils prices mostly fall relative to feedstock/competing fuel prices, with export values under more pressure. Even at lower levels,...

Base Oil News

[ETP 2025/31] WTI Climbs While Henry Hub Swings; Shell Beat Estimates; Aramco Bets on AI

WTI crude prices rise on trade optimism and geopolitical tensions, while U.S. natural gas prices fall due to mild weather and strong production....

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Americas/EMEA base oils supply outlook: Week of 4 August

US base oils export price-premium to feedstock/competing fuel prices extends fall at end-July 2025. Weaker base oils export margins and signs of...

Base Oil News

Global base oils arb outlook: Week of 4 August

Group II heavy-grade base oils premium to light grades is almost the same in US, Europe and Asia markets at same time and for first time in more...

Base Oil News

Asia base oils supply outlook: Week of 4 August

Asia’s Group II heavy-grade base oils price-premium to gasoil holds steady at lower level, close to levels in Q4 2024. Lower heavy-grade base oils...

Base Oil News

Global base oils margins outlook: Week of 4 August

Global base oils prices mostly fall relative to feedstock/competing fuel prices, with export values under more pressure. Even at lower levels,...

Base Oil News

[ETP 2025/31] WTI Climbs While Henry Hub Swings; Shell Beat Estimates; Aramco Bets on AI

​WTI crude prices rise on trade optimism and geopolitical tensions, while U.S. natural gas prices fall due to mild weather and strong production....

Mint Finance

WTI crude prices rise on trade optimism and geopolitical tensions, while U.S. natural gas prices fall due to mild weather and strong production....