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 base oils demand could see earlier-than-usual seasonal slowdown in face of weak lube consumption and improving supply.</li><li>Asia’s lube demand falls at end-Q1 2025 from year-earlier levels.</li><li>Demand weakness shows signs of extending into Q2 2025 as uncertainty about US tariffs compounds signs of slowing economic growth.</li></ul>

Asia’s base oils demand could see earlier-than-usual seasonal slowdown in face of weak lube consumption and improving supply.Asia’s lube demand falls at end-Q1 2025 from year-earlier levels.Demand weakness shows signs of extending into Q2 2025 as uncertainty about US tariffs compounds signs of slowing economic growth.

Asia base oils demand outlook: Week of 19 May

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 May 16th. We estimate that they had an aggregated short interest worth USD2.1bn.</li>
<li>We tabulate league table 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 Tmbthanachart Bank, Scc, Advanced Info Service, CP ALL, Scb X.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of May 16th. We estimate that they had an aggregated short interest worth USD2.1bn.
We tabulate league table 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 Tmbthanachart Bank, Scc, Advanced Info Service, CP ALL, Scb X.


Thailand Short Interest Weekly (May 16th): Tmbthanachart Bank, Scc, Advanced Info Service, CP ALL

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>Technically, the SET Index is expected to move in a sideways-down pattern, with the support at 1,205/1,194 points (10-day EMA) and the resistance at 1,225/1,231 points.</li><li>In the short term, the market is still awaiting clarity on the peak of Wave 1 (from the 5-wave upward pattern in Elliott Wave theory) before entering a correction phase, where Wave 2 typically retraces about 50-61.8% of Wave 1’s length.</li><li>We recommend a Sell into Rallies strategy for short-term investments, while for the 1-3 month horizon, a Selective Buy approach is advised once prices enter a major correction phase.</li></ul>

Technically, the SET Index is expected to move in a sideways-down pattern, with the support at 1,205/1,194 points (10-day EMA) and the resistance at 1,225/1,231 points.In the short term, the market is still awaiting clarity on the peak of Wave 1 (from the 5-wave upward pattern in Elliott Wave theory) before entering a correction phase, where Wave 2 typically retraces about 50-61.8% of Wave 1’s length.We recommend a Sell into Rallies strategy for short-term investments, while for the 1-3 month horizon, a Selective Buy approach is advised once prices enter a major correction phase.

KTX Zoom: Earnings Results -  MAY 14, 2025

<ul><li>Global base oils prices mostly extend rise vs feedstock/competing fuel prices.</li><li>Sustained price-strength for most grades points to tight supply-demand fundamentals.</li><li>Price-strength incentivizes refiners to maintain or raise output.</li></ul>

Global base oils prices mostly extend rise vs feedstock/competing fuel prices.Sustained price-strength for most grades points to tight supply-demand fundamentals.Price-strength incentivizes refiners to maintain or raise output.

Global base oils margins outlook: Week of 12 May

<ul><li>Asia’s Group II base oils prices hold in relatively narrow range relative to US export prices, especially for heavy grades.</li><li>Steady price levels leave arbitrage from Asia to Americas hard to work, pointing to limited surplus supply.</li><li>US Group II light-grade export prices hold in narrow range or strengthen relative to CFR India prices since start of Q2 2025.</li></ul>

Asia’s Group II base oils prices hold in relatively narrow range relative to US export prices, especially for heavy grades.Steady price levels leave arbitrage from Asia to Americas hard to work, pointing to limited surplus supply.US Group II light-grade export prices hold in narrow range or strengthen relative to CFR India prices since start of Q2 2025.

Global base oils arb outlook: Week of 12 May

Thailand

PTT Public Company Limited operates as an oil and gas company. The Company produces, transports, and sells natural gas, crude oil, lubricants, aviation and marine, and petrochemical products. PTT offers fleet cards, storage, electronic bill presentment, and other related services. PTT serves customers in Thailand.

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PTT PCL (PTT TB)

Asia base oils demand outlook: Week of 19 May

Asia’s base oils demand could see earlier-than-usual seasonal slowdown in face of weak lube consumption and improving supply. Asia’s lube demand...

Base Oil News

Thailand Short Interest Weekly (May 16th): Tmbthanachart Bank, Scc, Advanced Info Service, CP ALL

We analyzed SET short interest report for the past week and highlighted short interest changes in Tmbthanachart Bank, Scc, Advanced Info Service,...

Ke Yan, CFA, FRM

KTX Zoom: Earnings Results - MAY 14, 2025

Technically, the SET Index is expected to move in a sideways-down pattern, with the support at 1,205/1,194 points (10-day EMA) and the resistance...

Krungthai XSpring

Global base oils margins outlook: Week of 12 May

Global base oils prices mostly extend rise vs feedstock/competing fuel prices. Sustained price-strength for most grades points to tight...

Base Oil News

Global base oils arb outlook: Week of 12 May

Asia’s Group II base oils prices hold in relatively narrow range relative to US export prices, especially for heavy grades. Steady price levels...

Base Oil News

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)