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.

Cross Asset Strategy

<ul><li>Crude oil prices rebounded more than 2% this morning after Iran rejected direct talks with the US over reopening the Strait of Hormuz, supporting energy stocks (PTTEP, PTTGC, TOP).</li><li>A strong investment ecosystem, supported by solid infrastructure and government investment incentives, should drive growth in the industrial estate sector (AMATA, EASTW).</li><li>The Finance Ministry expects to soon finalize the "solar rooftop" installation subsidy scheme, preliminarily covering 0.5-1.0mn households with subsidies of Bt50,000 per household (GUNKUL, HMPRO).</li></ul>

Crude oil prices rebounded more than 2% this morning after Iran rejected direct talks with the US over reopening the Strait of Hormuz, supporting energy stocks (PTTEP, PTTGC, TOP).A strong investment ecosystem, supported by solid infrastructure and government investment incentives, should drive growth in the industrial estate sector (AMATA, EASTW).The Finance Ministry expects to soon finalize the "solar rooftop" installation subsidy scheme, preliminarily covering 0.5-1.0mn households with subsidies of Bt50,000 per household (GUNKUL, HMPRO).

Krungthai XSpring Zoom Eng. August 10, 2026

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>Surge in Group II cargo loadings from Taiwan at end-July extended into early August, with a wave of shipments moving mostly to Southeast Asian markets, including the Philippines and Indonesia.</li><li>Cargo loaded from South Korea in early-July before heading to the US Gulf coast, arrived in recent days.</li><li>Singapore took delivery in the past week of its largest cargo from the UAE since last September, despite ongoing disruption to Middle East shipping.</li></ul>

Surge in Group II cargo loadings from Taiwan at end-July extended into early August, with a wave of shipments moving mostly to Southeast Asian markets, including the Philippines and Indonesia.Cargo loaded from South Korea in early-July before heading to the US Gulf coast, arrived in recent days.Singapore took delivery in the past week of its largest cargo from the UAE since last September, despite ongoing disruption to Middle East shipping.

Global Base Oils Cargo Flows: Week To 7 August

<ul><li>Global base oils markets grew more divided by region as Asia's broad supply softened Middle East disruptions, Europe's premium-grade supply drew on non-Middle East routes, though not enough to ease Group III tightness, and the US stayed structurally tighter.</li></ul><ul><li>Asia's broader supply base limited the impact of Middle East Group III disruptions, while the US stayed structurally tighter.</li><li>Singapore's prolonged production constraints kept imports elevated and exports subdued, giving rival Asian suppliers more time to strengthen relationships with buyers traditionally reliant on Singapore.</li></ul>

Global base oils markets grew more divided by region as Asia's broad supply softened Middle East disruptions, Europe's premium-grade supply drew on non-Middle East routes, though not enough to ease Group III tightness, and the US stayed structurally tighter.Asia's broader supply base limited the impact of Middle East Group III disruptions, while the US stayed structurally tighter.Singapore's prolonged production constraints kept imports elevated and exports subdued, giving rival Asian suppliers more time to strengthen relationships with buyers traditionally reliant on Singapore.

Base Oils and Lubricants: Weekly Global Market Review - 07 Aug '26

<ul><li>Cargo-loadings from Taiwan extended their rebound, with a surge in shipments in the last 10 days of July.</li><li>Cargo carrying a combination of Group II light and heavy grades loaded from Taiwan in the past week before heading to South Korea.</li><li>Shipments from Taiwan to South Korea often then move on to other markets like the Americas.</li></ul>

Cargo-loadings from Taiwan extended their rebound, with a surge in shipments in the last 10 days of July.Cargo carrying a combination of Group II light and heavy grades loaded from Taiwan in the past week before heading to South Korea.Shipments from Taiwan to South Korea often then move on to other markets like the Americas.

Global Base Oils Cargo Flows: Week To 31 July

Middle East Group III disruptions entered a sixth month, keeping exports at multi-year lows, while maintenance among other Group III producers threatened to tighten supply further. South Korea and India continued filling part of the shortfall, Singapore became a net base oils importer for the first time in five years, and slower replacement cargoes from Europe and the US pointed to limited spare supply ahead of August.

Middle East Group III disruptions entered a sixth month, keeping exports at multi-year lows, while maintenance among other Group III producers threatened to tighten supply further. South Korea and India continued filling part of the shortfall, Singapore became a net base oils importer for the first time in five years, and slower replacement cargoes from Europe and the US pointed to limited spare supply ahead of August.

Base Oils and Lubricants: Weekly Global Market Review - 31 Jul '26

Saudi Arabia

Saudi Arabian Oil Co., doing business as Saudi Aramco, operates as an oil exploration company. The Company focuses on hydrocarbons exploration, production, refining, distribution, and shipping, as well as provides crude oil marketing services. Saudi Aramco serves customers worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Saudi Aramco (ARAMCO AB)

Krungthai XSpring Zoom Eng. August 10, 2026

Crude oil prices rebounded more than 2% this morning after Iran rejected direct talks with the US over reopening the Strait of Hormuz, supporting...

Krungthai XSpring

Global Base Oils Cargo Flows: Week To 7 August

Surge in Group II cargo loadings from Taiwan at end-July extended into early August, with a wave of shipments moving mostly to Southeast Asian...

Base Oil News

Base Oils and Lubricants: Weekly Global Market Review - 07 Aug '26

Global base oils markets grew more divided by region as Asia's broad supply softened Middle East disruptions, Europe's premium-grade supply drew...

Base Oil News

Global Base Oils Cargo Flows: Week To 31 July

Cargo-loadings from Taiwan extended their rebound, with a surge in shipments in the last 10 days of July. Cargo carrying a combination of Group II...

Base Oil News

Base Oils and Lubricants: Weekly Global Market Review - 31 Jul '26

Middle East Group III disruptions entered a sixth month, keeping exports at multi-year lows, while maintenance among other Group III producers...

Base Oil News

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)