Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Our global near-term outlook remains neutral on MSCI ACWI (in place since our 3/17/26 Int'l Macro Vision); we downgraded our outlook after ACWI-US broke below $141.50 support.</li>
<li>We downgraded our outlook to bearish on U.S. equities (S&amp;P 500) on March 31. Global equities have held up a bit better, and crucial support held at $134 on ACWI-US.</li>
<li>While we remain defensive and are concerned that ACWI-US will break down, we would only turn bearish on global equities if ACWI-US breaks below $134.</li>
</ul>


Our global near-term outlook remains neutral on MSCI ACWI (in place since our 3/17/26 Int'l Macro Vision); we downgraded our outlook after ACWI-US broke below $141.50 support.
We downgraded our outlook to bearish on U.S. equities (S&amp;P 500) on March 31. Global equities have held up a bit better, and crucial support held at $134 on ACWI-US.
While we remain defensive and are concerned that ACWI-US will break down, we would only turn bearish on global equities if ACWI-US breaks below $134.


Upgrading Norway to Overweight; Stay Defensive. Buys in Utilities, Energy, and Materials

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>The Middle East conflict is driving structural disruption to the global base oils market, with lubricants prices rising up to 30% in a six-to-nine month scenario and more than 50% in a worst case, Rosefield Energy Tech said</li><li>Blenders faced simultaneous pressure from feedstock shortages, additives constraints, freight costs and currency depreciation, with local and regional blenders most exposed</li><li>Rosefield recommended diversifying feedstock sources, shifting to regional hubs and adopting more dynamic pricing to reduce risk</li></ul>

The Middle East conflict is driving structural disruption to the global base oils market, with lubricants prices rising up to 30% in a six-to-nine month scenario and more than 50% in a worst case, Rosefield Energy Tech saidBlenders faced simultaneous pressure from feedstock shortages, additives constraints, freight costs and currency depreciation, with local and regional blenders most exposedRosefield recommended diversifying feedstock sources, shifting to regional hubs and adopting more dynamic pricing to reduce risk

Middle East War Triggers Structural Disruption In Base Oils Market

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>ONGC has floated $18-20 billion global tender for deepwater drilling rigs under the Samudra Manthan, targeting  3x jump in India's exploratory drilling rate from 30 to 100 wells by FY2027.</li>
<li>India imports 88% of its crude oil; the Hormuz closure has exposed this as a live fiscal and inflation emergency, with Brent near $120/bbl, the rupee breaching 95.</li>
<li>India's past exploration drives have stalled on policy inconsistency and under-investment; the real test is whether a crisis-induced spending surge can survive diplomacy and falling crude prices.</li>
</ul>


ONGC has floated $18-20 billion global tender for deepwater drilling rigs under the Samudra Manthan, targeting  3x jump in India's exploratory drilling rate from 30 to 100 wells by FY2027.
India imports 88% of its crude oil; the Hormuz closure has exposed this as a live fiscal and inflation emergency, with Brent near $120/bbl, the rupee breaching 95.
India's past exploration drives have stalled on policy inconsistency and under-investment; the real test is whether a crisis-induced spending surge can survive diplomacy and falling crude prices.


India's Samdura Manthan: How the Hormuz Crisis Launched India's Great Oil Expedition?

<ul><li>Several more Group II cargoes loaded from Taiwan before heading to Southeast Asia.</li><li>The pick-up in shipments in second-half March lifted total exports above typical monthly levels.</li><li>The rise contrasted with a slump in Singapore’s exports in the past week.</li></ul>

Several more Group II cargoes loaded from Taiwan before heading to Southeast Asia.The pick-up in shipments in second-half March lifted total exports above typical monthly levels.The rise contrasted with a slump in Singapore’s exports in the past week.

Global Base Oils Cargo Flows: Week To 27 March

Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/yokogawa-electric-corp" target="_blank" data-smartkarma-citation="entities:12795:1" rel="noopener">Yokogawa Electric (6841 JP) </a>management has launched several initiatives that have improved operating results and increased the share price. </li>
<li>It counts <a href="https://www.smartkarma.com/entities/saudi-aramco" target="_blank" data-smartkarma-citation="entities:27317:1" rel="noopener">Saudi Aramco (ARAMCO AB)</a> , <a href="https://www.smartkarma.com/entities/shell-plc" target="_blank" data-smartkarma-citation="entities:22108:1" rel="noopener">Shell (SHEL LN)</a> and <a href="https://www.smartkarma.com/entities/bp-plc-sponsored-adr" target="_blank" data-smartkarma-citation="entities:27921:1" rel="noopener">BP (BP US)</a> as customers, among others. </li>
<li>As the company ramps up its digital business, its margin will improve even more and will trade closer to parity with its counterparts such as <a href="https://www.smartkarma.com/entities/honeywell-international-inc" target="_blank" data-smartkarma-citation="entities:16765:1" rel="noopener">Honeywell International (HON US)</a> .</li>
</ul>



Yokogawa Electric (6841 JP) management has launched several initiatives that have improved operating results and increased the share price. 
It counts Saudi Aramco (ARAMCO AB) , Shell (SHEL LN) and BP (BP US) as customers, among others. 
As the company ramps up its digital business, its margin will improve even more and will trade closer to parity with its counterparts such as Honeywell International (HON US) .


United Kingdom

BP is a British multinational energy company engaged in the exploration, production, refining, transportation, and marketing of oil and natural gas. It also invests in low-carbon energy solutions such as wind, solar, and hydrogen, and offers products like fuels, lubricants, and petrochemicals. The company is headquartered in London, England, and was founded in 1909.

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BP (BP/ LN)

Upgrading Norway to Overweight; Stay Defensive. Buys in Utilities, Energy, and Materials

Upgrading Norway to Overweight; Stay Defensive. Buys in global Utilities, Energy, and Materials. $ACWI support at $134 holding for now, but still...

Vermilion Research

Middle East War Triggers Structural Disruption In Base Oils Market

Blenders faced simultaneous pressure from feedstock shortages, additives constraints, freight costs and currency depreciation, with local and...

Base Oil News

India's Samdura Manthan: How the Hormuz Crisis Launched India's Great Oil Expedition?

ONGC aims to boost India's exploratory drilling rate with $18-20 billion global tender for deepwater rigs under Samudra Manthan, as country faces...

Sudarshan Bhandari

Global Base Oils Cargo Flows: Week To 27 March

Several more Group II cargoes loaded from Taiwan before heading to Southeast Asia. The pick-up in shipments in second-half March lifted total...

Base Oil News

Yokogawa Electric (6841): Catch Up

Yokogawa Electric's management has ramped up its digitalization initiatives that should improve OPM closer to 15% and therefore should see its...

Henry Soediarko

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Upgrading Norway to Overweight; Stay Defensive. Buys in Utilities, Energy, and Materials

Upgrading Norway to Overweight; Stay Defensive. Buys in global Utilities, Energy, and Materials. $ACWI support at $134 holding for now, but still...

Vermilion Research

Middle East War Triggers Structural Disruption In Base Oils Market

Blenders faced simultaneous pressure from feedstock shortages, additives constraints, freight costs and currency depreciation, with local and...

Base Oil News

India's Samdura Manthan: How the Hormuz Crisis Launched India's Great Oil Expedition?

​ONGC aims to boost India's exploratory drilling rate with $18-20 billion global tender for deepwater rigs under Samudra Manthan, as country faces...

Sudarshan Bhandari

Global Base Oils Cargo Flows: Week To 27 March

Several more Group II cargoes loaded from Taiwan before heading to Southeast Asia. The pick-up in shipments in second-half March lifted total...

Base Oil News

Yokogawa Electric (6841): Catch Up

Yokogawa Electric's management has ramped up its digitalization initiatives that should improve OPM closer to 15% and therefore should see its...

Henry Soediarko

ONGC aims to boost India's exploratory drilling rate with $18-20 billion global tender for deepwater rigs under Samudra Manthan, as country faces...