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>Asia heavy-grade base oils price-premium to Singapore gasoil holds at elevated levels even as it slips from recent highs.</li><li>High heavy-grade margins point to firm supply-demand fundamentals, incentivize refiners to maintain or raise output of the grades.</li><li>Besides firm margins, outperformance of regional Group I SN 500 price relative to other grades and other regions points to even stronger fundamentals for that product.</li></ul>

Asia heavy-grade base oils price-premium to Singapore gasoil holds at elevated levels even as it slips from recent highs.High heavy-grade margins point to firm supply-demand fundamentals, incentivize refiners to maintain or raise output of the grades.Besides firm margins, outperformance of regional Group I SN 500 price relative to other grades and other regions points to even stronger fundamentals for that product.

Asia base oils supply outlook: Week of 14 July

<ul><li>Asia’s base oils demand shows signs of facing weaker-than-usual pressure from expected seasonal slowdown in consumption coming weeks.</li><li>Firmer prices for light grades relative to heavy grades, for Group I SN 500, and for prices in India point to ongoing pockets of buying interest even with seasonal slowdown in demand.</li><li>Prices for Group II heavy grades by contrast weaken vs light grades and vs Group I base oils.</li></ul>

Asia’s base oils demand shows signs of facing weaker-than-usual pressure from expected seasonal slowdown in consumption coming weeks.Firmer prices for light grades relative to heavy grades, for Group I SN 500, and for prices in India point to ongoing pockets of buying interest even with seasonal slowdown in demand.Prices for Group II heavy grades by contrast weaken vs light grades and vs Group I base oils.

Asia base oils demand outlook: Week of 14 July

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Jul 11th. We estimate that they had an aggregated short interest worth USD1.9bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Central Retail (CRC TB).</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Jul 11th. We estimate that they had an aggregated short interest worth USD1.9bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Central Retail (CRC TB).


Thailand Short Interest Weekly (Jul 11th): Central Retail

<ul><li>Global base oils values mostly hold firm versus feedstock/competing fuel prices, even as they remain down from recent highs in Q2 2025.</li><li>Firm base oils margins coincide with strong diesel premium to crude oil that incentivizes refiners to boost output of the motor fuel.</li><li>Any such move would likely impact light-grade base oils more than heavy grades, whose firm margins incentivize refiners to maintain high output of the product.</li></ul>

Global base oils values mostly hold firm versus feedstock/competing fuel prices, even as they remain down from recent highs in Q2 2025.Firm base oils margins coincide with strong diesel premium to crude oil that incentivizes refiners to boost output of the motor fuel.Any such move would likely impact light-grade base oils more than heavy grades, whose firm margins incentivize refiners to maintain high output of the product.

Global base oils margins outlook: Week of 7 July

<ul><li>US Group II export base oils price-premium to vacuum gasoil starts Q3 2025 at slightly lower levels than at start of Q3 2024.</li><li>In Q3 2024, US base oils price premium to VGO extends rise after surging from end-Q1 2024.</li><li>US base oils price-premium to VGO extends surge in Q3 2024 even with less feasible arbitrage to outlets like Europe, Middle East and India.</li></ul>

US Group II export base oils price-premium to vacuum gasoil starts Q3 2025 at slightly lower levels than at start of Q3 2024.In Q3 2024, US base oils price premium to VGO extends rise after surging from end-Q1 2024.US base oils price-premium to VGO extends surge in Q3 2024 even with less feasible arbitrage to outlets like Europe, Middle East and India.

Global base oils arb outlook: Week of 7 July

Thailand

IRPC PCL produces a variety of petrochemical products including polypropylene, high density polyethylene and expandable polystyrene primarily used in packaging materials. Through its subsidiaries, the Company produces and distributes gasoline, liquefied petroleumgas (LPG), asphalt, as well as electricity and construction materials.

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IRPC PCL (IRPC TB)

Asia base oils supply outlook: Week of 14 July

Asia heavy-grade base oils price-premium to Singapore gasoil holds at elevated levels even as it slips from recent highs. High heavy-grade margins...

Base Oil News

Asia base oils demand outlook: Week of 14 July

Asia’s base oils demand shows signs of facing weaker-than-usual pressure from expected seasonal slowdown in consumption coming weeks. Firmer...

Base Oil News

Thailand Short Interest Weekly (Jul 11th): Central Retail

We analyzed SET short interest report for the past week and highlighted short interest changes in Central Retail (CRC TB).

Ke Yan, CFA, FRM

Global base oils margins outlook: Week of 7 July

Global base oils values mostly hold firm versus feedstock/competing fuel prices, even as they remain down from recent highs in Q2 2025. Firm base...

Base Oil News

Global base oils arb outlook: Week of 7 July

US Group II export base oils price-premium to vacuum gasoil starts Q3 2025 at slightly lower levels than at start of Q3 2024. In Q3 2024, US base...

Base Oil News

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Market Cap (USDm)

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