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 Group III 4cSt base oils price rises in June to highest level in almost nine months.</li><li>US Group III 4cSt price rises relative to Group II base oils, relative to feedstock prices and relative to other regions.</li><li>US Group III price-strength coincides with tighter global Group III supply-demand fundamentals and growing number of signals reflecting those tighter fundamentals.</li></ul>

US Group III 4cSt base oils price rises in June to highest level in almost nine months.US Group III 4cSt price rises relative to Group II base oils, relative to feedstock prices and relative to other regions.US Group III price-strength coincides with tighter global Group III supply-demand fundamentals and growing number of signals reflecting those tighter fundamentals.

Global base oils arb outlook: Week of 16 June

<ul><li>US base oils margins fall as crude and heating oil prices surge.</li><li>Margins had previously been trending lower slowly.</li><li>Steady-to-lower margins coincided with muted domestic demand and improving supply fundamentals following completion of most plant maintenance work.</li></ul>

US base oils margins fall as crude and heating oil prices surge.Margins had previously been trending lower slowly.Steady-to-lower margins coincided with muted domestic demand and improving supply fundamentals following completion of most plant maintenance work.

Americas/EMEA base oils supply outlook: Week of 16 June

<ul><li>US base oils demand could get support from expectations of steady-to-higher prices following surge in crude oil prices.</li><li>Weakening supply-demand fundamentals previously put pressure on adjustment in base oils prices to reflect that dynamic.</li><li>Concern about exposure to lower prices incentivized buyers to limit their procurement plans.</li></ul>

US base oils demand could get support from expectations of steady-to-higher prices following surge in crude oil prices.Weakening supply-demand fundamentals previously put pressure on adjustment in base oils prices to reflect that dynamic.Concern about exposure to lower prices incentivized buyers to limit their procurement plans.

Americas/EMEA base oils demand outlook: Week of 16 June

Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

<ul>
<li>For the week ending 06/Jun, U.S. crude inventories fell by 3.6m barrels (vs. expectations of a 2.4m barrel decline). Meanwhile, gasoline and distillate stockpiles rose more than expected.</li>
<li>The EIA reported a 109 Bcf storage build, while analysts forecasted a 108 Bcf increase. Storage levels are 5.4% above the five-year average but 8.6% below year-ago levels.</li>
<li>Shell targets 12 MMT of new LNG capacity by 2030, while TotalEnergies partners with Mistral AI to enhance its low-carbon, multi-energy strategy using artificial intelligence.</li>
</ul>


For the week ending 06/Jun, U.S. crude inventories fell by 3.6m barrels (vs. expectations of a 2.4m barrel decline). Meanwhile, gasoline and distillate stockpiles rose more than expected.
The EIA reported a 109 Bcf storage build, while analysts forecasted a 108 Bcf increase. Storage levels are 5.4% above the five-year average but 8.6% below year-ago levels.
Shell targets 12 MMT of new LNG capacity by 2030, while TotalEnergies partners with Mistral AI to enhance its low-carbon, multi-energy strategy using artificial intelligence.


[ETP 2025/24] WTI Rises on Trade Hopes, Geopolitics; Henry Hub Slips on Weak Near-Term Outlook

Equity Capital Markets and Advisory Business, Auctus Advisors

Auctus Advisors

Equity Capital Markets and Advisory Business

Auctus Advisors is a specialist Equity Capital Markets and Advisory business with a focus in the Energy Sector. The partners have complementary skill sets, with decades of experience across Equity Capital Markets, Investment Banking and the Energy industry. We have worked at Société Générale, Canaccord Capital, BMO Capital Markets and Schlumberger. Most recently we have worked together for many years at GMP FirstEnergy. Auctus has been set up at the beginning of a new decade in which we see significant opportunities in the Energy space. Globally, demand for energy is at record levels and continues to grow. Conversely, investment in traditional energy sources has been severely constrained. We believe this imbalance creates opportunities for both companies and investors. Auctus provides Corporate Broking, Equity Research and Investment Banking services.

Thematic (Sector/Industry)

<ul><li>Criterium Energy (CEQ CN)C; Target price of C$0.35 per share: On track for first gas in 1Q26 – 1Q25 production of 988 boe/d had been previously reported.</li><li>Criterium held ~C$1.6 mm in cash at the end of 1Q25.</li><li>The company has reduced its accounts payable by ~C$3.5 mm while inventory + amounts receivable were flat vs. YE24.</li></ul>

Criterium Energy (CEQ CN)C; Target price of C$0.35 per share: On track for first gas in 1Q26 – 1Q25 production of 988 boe/d had been previously reported.Criterium held ~C$1.6 mm in cash at the end of 1Q25.The company has reduced its accounts payable by ~C$3.5 mm while inventory + amounts receivable were flat vs. YE24.

France

TOTAL S.A. explores for, produces, refines, transports, and markets oil and natural gas. The Company also operates a chemical division which produces polypropylene, polyethylene, polystyrene, rubber, paint, ink, adhesives, and resins. TOTAL operates gasoline filling stations in Europe, the United States, and Africa.

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TotalEnergies (TTE FP)

Global base oils arb outlook: Week of 16 June

US Group III 4cSt base oils price rises in June to highest level in almost nine months. US Group III 4cSt price rises relative to Group II base...

Base Oil News

Americas/EMEA base oils supply outlook: Week of 16 June

US base oils margins fall as crude and heating oil prices surge. Margins had previously been trending lower slowly. Steady-to-lower margins...

Base Oil News

Americas/EMEA base oils demand outlook: Week of 16 June

US base oils demand could get support from expectations of steady-to-higher prices following surge in crude oil prices. Weakening supply-demand...

Base Oil News

[ETP 2025/24] WTI Rises on Trade Hopes, Geopolitics; Henry Hub Slips on Weak Near-Term Outlook

US crude inventories fell more than expected, while gasoline and distillate stockpiles rose. Nat-gas storage levels are above 5-year average....

Mint Finance

AUCTUS ON FRIDAY - 06/06/2025

Criterium Energy (CEQ CN)C; Target price of C$0.35 per share: On track for first gas in 1Q26 – 1Q25 production of 988 boe/d had been previously...

Auctus Advisors

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Global base oils arb outlook: Week of 16 June

US Group III 4cSt base oils price rises in June to highest level in almost nine months. US Group III 4cSt price rises relative to Group II base...

Base Oil News

Americas/EMEA base oils supply outlook: Week of 16 June

US base oils margins fall as crude and heating oil prices surge. Margins had previously been trending lower slowly. Steady-to-lower margins...

Base Oil News

Americas/EMEA base oils demand outlook: Week of 16 June

US base oils demand could get support from expectations of steady-to-higher prices following surge in crude oil prices. Weakening supply-demand...

Base Oil News

[ETP 2025/24] WTI Rises on Trade Hopes, Geopolitics; Henry Hub Slips on Weak Near-Term Outlook

​US crude inventories fell more than expected, while gasoline and distillate stockpiles rose. Nat-gas storage levels are above 5-year average....

Mint Finance

AUCTUS ON FRIDAY - 06/06/2025

Criterium Energy (CEQ CN)C; Target price of C$0.35 per share: On track for first gas in 1Q26 – 1Q25 production of 988 boe/d had been previously...

Auctus Advisors

US crude inventories fell more than expected, while gasoline and distillate stockpiles rose. Nat-gas storage levels are above 5-year average....