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 sideways, with the resistance at 1,177 points (10-day EMA) and 1,185 points, and the support at 1,160 and 1,155 points.</li><li>In the medium term, the index remains in a downward trend in a zig-zag pattern, aiming to find the bottom within the range of 1,100 to 1,506 points.</li><li>In the short term, the trend is still downward, returning to a new low followed by a rebound pattern. </li></ul>

Technically, the SET Index is expected to move sideways, with the resistance at 1,177 points (10-day EMA) and 1,185 points, and the support at 1,160 and 1,155 points.In the medium term, the index remains in a downward trend in a zig-zag pattern, aiming to find the bottom within the range of 1,100 to 1,506 points.In the short term, the trend is still downward, returning to a new low followed by a rebound pattern. 

KTX Zoom - US Reciprocal Tariffs: APRIL 2, 2025

<ul><li>Technically, the SET Index is expected to move in a sideways-down trend, with the support levels at 1,150/1,140 points and the resistance are at 1,169/1,174 points.</li><li>In the medium term, the index remains in a downtrend in a zig-zag down pattern, aiming to find a bottom within the 1,100-1,506-point range.</li><li>In the short term, the index has resumed its downtrend after forming a new low yesterday at 1,155.05 points, the lowest level since March 4, 2020 (five years and one month), compared to the previous low of 1,157.96 points.</li></ul>

Technically, the SET Index is expected to move in a sideways-down trend, with the support levels at 1,150/1,140 points and the resistance are at 1,169/1,174 points.In the medium term, the index remains in a downtrend in a zig-zag down pattern, aiming to find a bottom within the 1,100-1,506-point range.In the short term, the index has resumed its downtrend after forming a new low yesterday at 1,155.05 points, the lowest level since March 4, 2020 (five years and one month), compared to the previous low of 1,157.96 points.

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 export price-discount to US domestic prices stays narrower in Q1 2025 vs year-earlier.</li><li>Narrower export price-discount points to more manageable supply surplus at end-2024 and early this year, when domestic demand faced seasonal slowdown.</li><li>More manageable supply surplus follows firm export volumes through H2 2024 and early this year.</li></ul>

US base oils export price-discount to US domestic prices stays narrower in Q1 2025 vs year-earlier.Narrower export price-discount points to more manageable supply surplus at end-2024 and early this year, when domestic demand faced seasonal slowdown.More manageable supply surplus follows firm export volumes through H2 2024 and early this year.

Global base oils arb outlook: Week of 31 March

<ul><li>Global base oils prices slip relative to firmer feedstock/competing fuel prices.</li><li>Base oils margins in most markets remain at levels that point to balanced-to-tight supply-demand fundamentals, incentivizing refiners to maintain higher output.</li><li>FOB Asia base oils prices fall vs gasoil prices.</li></ul>

Global base oils prices slip relative to firmer feedstock/competing fuel prices.Base oils margins in most markets remain at levels that point to balanced-to-tight supply-demand fundamentals, incentivizing refiners to maintain higher output.FOB Asia base oils prices fall vs gasoil prices.

Global base oils margins outlook: Week of 31 March

<ul><li>Asia’s base oils prices extend dip versus feedstock/gasoil prices.</li><li>Margins hold firm for heavy grades, pointing to still-strong supply-demand fundamentals.</li><li>Firm margins partially cushion impact of weaker light-grade margins.</li></ul>

Asia’s base oils prices extend dip versus feedstock/gasoil prices.Margins hold firm for heavy grades, pointing to still-strong supply-demand fundamentals.Firm margins partially cushion impact of weaker light-grade margins.

Asia base oils supply outlook: Week of 31 March

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)

KTX Zoom - US Reciprocal Tariffs: APRIL 2, 2025

Technically, the SET Index is expected to move sideways, with the resistance at 1,177 points (10-day EMA) and 1,185 points, and the support at...

Krungthai XSpring

KTX Zoom - APRIL 1, 2025

Technically, the SET Index is expected to move in a sideways-down trend, with the support levels at 1,150/1,140 points and the resistance are at...

Krungthai XSpring

Global base oils arb outlook: Week of 31 March

US base oils export price-discount to US domestic prices stays narrower in Q1 2025 vs year-earlier. Narrower export price-discount points to more...

Base Oil News

Global base oils margins outlook: Week of 31 March

Global base oils prices slip relative to firmer feedstock/competing fuel prices. Base oils margins in most markets remain at levels that point to...

Base Oil News

Asia base oils supply outlook: Week of 31 March

Asia’s base oils prices extend dip versus feedstock/gasoil prices. Margins hold firm for heavy grades, pointing to still-strong supply-demand...

Base Oil News

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