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 prices fall relative to feedstock/competing fuel prices following recent surge in crude oil prices.</li><li>Dip in US export price-premium to vacuum gasoil in June 2025 contrasts with sustained surge of price-premium in Q2-Q3 2024.</li><li>Weaker price-premium points to softer supply-demand fundamentals at end-Q2 2025 compared with year earlier.</li></ul>

US base oils prices fall relative to feedstock/competing fuel prices following recent surge in crude oil prices.Dip in US export price-premium to vacuum gasoil in June 2025 contrasts with sustained surge of price-premium in Q2-Q3 2024.Weaker price-premium points to softer supply-demand fundamentals at end-Q2 2025 compared with year earlier.

Americas/EMEA base oils supply outlook: Week of 23 June

<ul><li>US base oils demand could get support from higher crude oil prices that curb prospect of fall in base oils prices.</li><li>Even so, expectations of ready availability of supplies, combined with seasonal slowdown in lube consumption in coming weeks, likely to incentivize buyers to maintain low stocks.</li><li>Buyers face ongoing challenge of balancing expectations of weak fundamentals with repercussions of higher crude oil prices and risk of weather-related supply disruptions during Atlantic hurricane season.</li></ul>

US base oils demand could get support from higher crude oil prices that curb prospect of fall in base oils prices.Even so, expectations of ready availability of supplies, combined with seasonal slowdown in lube consumption in coming weeks, likely to incentivize buyers to maintain low stocks.Buyers face ongoing challenge of balancing expectations of weak fundamentals with repercussions of higher crude oil prices and risk of weather-related supply disruptions during Atlantic hurricane season.

Americas/EMEA base oils demand outlook: Week of 23 June

Equity Capital Markets and Advisory Business, Auctus Advisors

Auctus Advisors

Equity Capital Markets and Advisory Business

Auctus Advisors is a specialist Equity Capital Markets and Advisory business with a focus in the Energy Sector. The partners have complementary skill sets, with decades of experience across Equity Capital Markets, Investment Banking and the Energy industry. We have worked at Société Générale, Canaccord Capital, BMO Capital Markets and Schlumberger. Most recently we have worked together for many years at GMP FirstEnergy. Auctus has been set up at the beginning of a new decade in which we see significant opportunities in the Energy space. Globally, demand for energy is at record levels and continues to grow. Conversely, investment in traditional energy sources has been severely constrained. We believe this imbalance creates opportunities for both companies and investors. Auctus provides Corporate Broking, Equity Research and Investment Banking services.

Thematic (Sector/Industry)

<ul><li>AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.30 per share: Focus on the shallow gas prospects – ADX has initiated the farm-out process for the GOLD cluster of shallow gas prospects in ADX-AT-II.</li><li>This cluster includes the GOLD (A&C), GOLD (B), GRAB, and ZAUN prospects, with a combined P50 prospective resource estimate of 12.1 bcf (13.3 bcf on a mean basis).</li><li>GOLD accounts for 7.5 bcf, while ZAUN and GRAB hold 2.7 bcf and 1.9 bcf, respectively.</li></ul>

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.30 per share: Focus on the shallow gas prospects – ADX has initiated the farm-out process for the GOLD cluster of shallow gas prospects in ADX-AT-II.This cluster includes the GOLD (A&C), GOLD (B), GRAB, and ZAUN prospects, with a combined P50 prospective resource estimate of 12.1 bcf (13.3 bcf on a mean basis).GOLD accounts for 7.5 bcf, while ZAUN and GRAB hold 2.7 bcf and 1.9 bcf, respectively.

<ul><li>Global base oils margins fall as feedstock/competing fuel prices surge.</li><li>Sharp fall in base oils margins reflect impact of higher crude/diesel prices rather than any sudden change in base oils supply-demand fundamentals.</li><li>Fall in base oils margins comes at a time of year when supply-demand fundamentals are already starting to face downward pressure.</li></ul>

Global base oils margins fall as feedstock/competing fuel prices surge.Sharp fall in base oils margins reflect impact of higher crude/diesel prices rather than any sudden change in base oils supply-demand fundamentals.Fall in base oils margins comes at a time of year when supply-demand fundamentals are already starting to face downward pressure.

Global base oils margins outlook: Week of 16 June

<ul><li>US Group III 4cSt base oils price rises in June to highest level in almost nine months.</li><li>US Group III 4cSt price rises relative to Group II base oils, relative to feedstock prices and relative to other regions.</li><li>US Group III price-strength coincides with tighter global Group III supply-demand fundamentals and growing number of signals reflecting those tighter fundamentals.</li></ul>

US Group III 4cSt base oils price rises in June to highest level in almost nine months.US Group III 4cSt price rises relative to Group II base oils, relative to feedstock prices and relative to other regions.US Group III price-strength coincides with tighter global Group III supply-demand fundamentals and growing number of signals reflecting those tighter fundamentals.

Global base oils arb outlook: Week of 16 June

Italy

Eni SpA explores for and produces hydrocarbons in Italy, Africa, the North Sea, the Gulf of Mexico, Kazakhstan, and Australia. The Company both produces natural gas and imports it for sale in Italy and elsewhere in Europe. Eni transports natural gas in pipelines. The Company generates and trades electricity, refines oil, and operates gasoline service stations.

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Eni SpA (ENI IM)

Americas/EMEA base oils supply outlook: Week of 23 June

US base oils prices fall relative to feedstock/competing fuel prices following recent surge in crude oil prices. Dip in US export price-premium to...

Base Oil News

Americas/EMEA base oils demand outlook: Week of 23 June

US base oils demand could get support from higher crude oil prices that curb prospect of fall in base oils prices. Even so, expectations of ready...

Base Oil News

AUCTUS ON FRIDAY - 20/06/2025

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.30 per share: Focus on the shallow gas...

Auctus Advisors

Global base oils margins outlook: Week of 16 June

Global base oils margins fall as feedstock/competing fuel prices surge. Sharp fall in base oils margins reflect impact of higher crude/diesel...

Base Oil News

Global base oils arb outlook: Week of 16 June

US Group III 4cSt base oils price rises in June to highest level in almost nine months. US Group III 4cSt price rises relative to Group II base...

Base Oil News

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