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’s Group II base oils prices stay unusually firm vs US export prices so far this year.</li><li>Strength of Asia Group II prices curbs arbitrage flows from Asia to Americas so far this year.</li><li>Strength of Asia prices facilitates flows of base oils shipments from US to markets like UAE and India so far this year.</li></ul>

Asia’s Group II base oils prices stay unusually firm vs US export prices so far this year.Strength of Asia Group II prices curbs arbitrage flows from Asia to Americas so far this year.Strength of Asia prices facilitates flows of base oils shipments from US to markets like UAE and India so far this year.

Global base oils arb outlook: Week of 29 September

<ul><li>Asia’s base oils prices slip versus gasoil prices amid recent rise in crude oil prices.</li><li>Heavy-grade base oils margins stay relatively firm even with recent downward pressure.</li><li>Recent squeeze on margins could prompt refiners to resist price-adjustments to reflect any change in supply-demand fundamentals.</li></ul>

Asia’s base oils prices slip versus gasoil prices amid recent rise in crude oil prices.Heavy-grade base oils margins stay relatively firm even with recent downward pressure.Recent squeeze on margins could prompt refiners to resist price-adjustments to reflect any change in supply-demand fundamentals.

Asia base oils supply outlook: Week of 29 September

<ul><li>Asia’s base oils demand could turn more cautious amid improving availability of supply.</li><li>Rising supply gives buyers more flexibility to procure smaller volumes more frequently.</li><li>Rising supply raises concern about exposure to price-volatility, adding to attraction of managing stocks carefully.</li></ul>

Asia’s base oils demand could turn more cautious amid improving availability of supply.Rising supply gives buyers more flexibility to procure smaller volumes more frequently.Rising supply raises concern about exposure to price-volatility, adding to attraction of managing stocks carefully.

Asia base oils demand outlook: Week of 29 September

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

Thematic (Sector/Industry)

<ul><li>The SET came under profit-taking pressure amid a lack of new catalysts, while a sharp drop in DELTA added to the drag.</li><li>Fund outflows were a key factor weighing on the index, in addition to DELTA’s sharp decline.</li><li>We do not anticipate a deep correction in the index and believe it will eventually rebound.</li></ul>

The SET came under profit-taking pressure amid a lack of new catalysts, while a sharp drop in DELTA added to the drag.Fund outflows were a key factor weighing on the index, in addition to DELTA’s sharp decline.We do not anticipate a deep correction in the index and believe it will eventually rebound.

Krungthai XSpring Technical Eng. SEPTEMBER 29, 2025

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 Sep 26th. We estimate that they had an aggregated short interest worth USD2.5bn.</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 Intouch, VGI, Thai Union, True, Gulf Energy Development, True, Gulf Energy Development, Thai Union.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Sep 26th. We estimate that they had an aggregated short interest worth USD2.5bn.
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 Intouch, VGI, Thai Union, True, Gulf Energy Development, True, Gulf Energy Development, Thai Union.


Thailand Short Interest Weekly (Sep 26th): Intouch, VGI, Thai Union, True, Gulf Energy Development

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)

Global base oils arb outlook: Week of 29 September

Asia’s Group II base oils prices stay unusually firm vs US export prices so far this year. Strength of Asia Group II prices curbs arbitrage flows...

Base Oil News

Asia base oils supply outlook: Week of 29 September

Asia’s base oils prices slip versus gasoil prices amid recent rise in crude oil prices. Heavy-grade base oils margins stay relatively firm even...

Base Oil News

Asia base oils demand outlook: Week of 29 September

Asia’s base oils demand could turn more cautious amid improving availability of supply. Rising supply gives buyers more flexibility to procure...

Base Oil News

Krungthai XSpring Technical Eng. SEPTEMBER 29, 2025

Fund outflows were a key factor weighing on the index, in addition to DELTA’s sharp decline. We do not anticipate a deep correction in the index...

Krungthai XSpring

Thailand Short Interest Weekly (Sep 26th): Intouch, VGI, Thai Union, True, Gulf Energy Development

We analyzed SET short interest report for the past week and highlighted short interest changes in Intouch, VGI, Thai Union, True, Gulf Energy...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)