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 prices extend rise vs feedstock/gasoil prices.</li><li>Rising margins point to increasingly tight supply-demand fundamentals, incentivizing refiners to maximise output.</li><li>Incentive to maximise output coincides with closed arbitrage from Asia to other markets, and signs of steady flows from other regions to Asia.</li></ul>

Asia’s base oils prices extend rise vs feedstock/gasoil prices.Rising margins point to increasingly tight supply-demand fundamentals, incentivizing refiners to maximise output.Incentive to maximise output coincides with closed arbitrage from Asia to other markets, and signs of steady flows from other regions to Asia.

Asia base oils supply outlook: Week of 10 March

<ul><li>Asia’s base oils demand could be steadier, with blenders likely to have already secured supplies required to cover seasonal pick-up in demand over coming weeks.</li><li>Recent moves to replenish stocks added to demand and tightened supply.</li><li>Demand could ease following completion of those moves.</li></ul>

Asia’s base oils demand could be steadier, with blenders likely to have already secured supplies required to cover seasonal pick-up in demand over coming weeks.Recent moves to replenish stocks added to demand and tightened supply.Demand could ease following completion of those moves.

Asia base oils demand outlook: Week of 10 March

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 weaken, with the support at 1,167/1,150 points and the resistance at 1,185/1,193 points.</li><li>The medium-term trend remains in a zig-zag down pattern, seeking the bottom within the 1,130-1,506 point range.</li><li>In the short term, the index continues to form new lows with limited rebounds, having recently hit a new low for the year at 1,173.13 points, the lowest in four years and 11 months, compared to 1,130.54 points on April 3, 2020. </li></ul>

Technically, the SET Index is expected to weaken, with the support at 1,167/1,150 points and the resistance at 1,185/1,193 points.The medium-term trend remains in a zig-zag down pattern, seeking the bottom within the 1,130-1,506 point range.In the short term, the index continues to form new lows with limited rebounds, having recently hit a new low for the year at 1,173.13 points, the lowest in four years and 11 months, compared to 1,130.54 points on April 3, 2020. 

KTX Zoom - China's NPC Meeting and US ISM Services PMI for February

<ul><li>Technically, the SET Index is expected to weaken, with the support at 1,180/1,167 points and the resistance at 1,193/1,200 points.</li><li>The medium-term outlook remains in a downtrend, with the index forming a zig-zag down pattern to find the bottom within the range of 1,130-1,506 points.</li><li>In the short term, the index has resumed its decline, testing the previous new low of 1,186.36 points (recorded on February 28) to determine whether this is the cycle's bottom or if it will continue downward to establish a new low. </li></ul>

Technically, the SET Index is expected to weaken, with the support at 1,180/1,167 points and the resistance at 1,193/1,200 points.The medium-term outlook remains in a downtrend, with the index forming a zig-zag down pattern to find the bottom within the range of 1,130-1,506 points.In the short term, the index has resumed its decline, testing the previous new low of 1,186.36 points (recorded on February 28) to determine whether this is the cycle's bottom or if it will continue downward to establish a new low. 

KTX Zoom - Keep an Eye on Trump's Speech and US Retail Sector Earnings

<ul><li>Thai inflation continues to recover, keeping real interest rates the lowest in Asia, increasing the chance of maintaining interest rates.</li><li>Thai inflation rate for January (to be announced on February 5) is expected to continue accelerating.</li><li>The consensus forecasts a 1.4% YoY increase (vs. 1.2% YoY in the previous month), remaining within the target range of 1-3%. </li></ul>

Thai inflation continues to recover, keeping real interest rates the lowest in Asia, increasing the chance of maintaining interest rates.Thai inflation rate for January (to be announced on February 5) is expected to continue accelerating.The consensus forecasts a 1.4% YoY increase (vs. 1.2% YoY in the previous month), remaining within the target range of 1-3%. 

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 supply outlook: Week of 10 March

Asia’s base oils prices extend rise vs feedstock/gasoil prices. Rising margins point to increasingly tight supply-demand fundamentals,...

Base Oil News

Asia base oils demand outlook: Week of 10 March

Asia’s base oils demand could be steadier, with blenders likely to have already secured supplies required to cover seasonal pick-up in demand over...

Base Oil News

KTX Zoom - China's NPC Meeting and US ISM Services PMI for February

Technically, the SET Index is expected to weaken, with the support at 1,167/1,150 points and the resistance at 1,185/1,193 points.

Krungthai XSpring

KTX Zoom - Keep an Eye on Trump's Speech and US Retail Sector Earnings

Technically, the SET Index is expected to weaken, with the support at 1,180/1,167 points and the resistance at 1,193/1,200 points.

Krungthai XSpring

KTX AHEAD - February 3, 2025

Thai inflation continues to recover, keeping real interest rates the lowest in Asia, increasing the chance of maintaining interest rates.

Krungthai XSpring

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