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

Senior Credit Analyst - Emerging Markets, EM Spreads

Leandro Gubler

Senior Credit Analyst - Emerging Markets

EM Spreads

Credit

<ul>
<li>Initiating Coverage on CSN: Overweight on Risk-Reward. We are initiating coverage on CSN with an Overweight recommendation</li>
<li>YPF and Eni Advance Argentina LNG Project with New Agreement Signed in Rome</li>
<li>The LatAm Aggregate Index contracted by 3 bps to 303 bps in the week ending Friday, June 13, 2025, and is now trading 35 bps below its 3-month average.</li>
</ul>


Initiating Coverage on CSN: Overweight on Risk-Reward. We are initiating coverage on CSN with an Overweight recommendation
YPF and Eni Advance Argentina LNG Project with New Agreement Signed in Rome
The LatAm Aggregate Index contracted by 3 bps to 303 bps in the week ending Friday, June 13, 2025, and is now trading 35 bps below its 3-month average.


<ul><li>Global base oils prices mostly hold firm vs feedstock/competing fuel prices, especially in Europe and Asia.</li><li>Firm price differentials point to strong supply-demand fundamentals, incentivize refiners to supply more volumes for those markets.</li><li>Demand would need to hold firm to absorb any such pick-up in supplies.</li></ul>

Global base oils prices mostly hold firm vs feedstock/competing fuel prices, especially in Europe and Asia.Firm price differentials point to strong supply-demand fundamentals, incentivize refiners to supply more volumes for those markets.Demand would need to hold firm to absorb any such pick-up in supplies.

Global base oils margins outlook: Week of 2 June

Argentina

YPF Sociedad Anonima is involved in the exploration, development and production of crude oil, natural gas and liquefied petroleum gas. The Company also refines, markets, and distributes oil alongside its derivatives YPF generates nearly all of its revenue inside Argentina, and has headquarters in Buenos Aires, Argentina.

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YPF SA (YPF US)

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

EM Spreads - Weekly News & Views

Initiating coverage on CSN with an Overweight recommendation. YPF and Eni advance Argentina LNG project with new agreement. LatAm Aggregate Index...

Leandro Gubler

Global base oils margins outlook: Week of 2 June

Global base oils prices mostly hold firm vs feedstock/competing fuel prices, especially in Europe and Asia. Firm price differentials point to...

Base Oil News

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

EM Spreads - Weekly News & Views

​Initiating coverage on CSN with an Overweight recommendation. YPF and Eni advance Argentina LNG project with new agreement. LatAm Aggregate Index...

Leandro Gubler

Global base oils margins outlook: Week of 2 June

Global base oils prices mostly hold firm vs feedstock/competing fuel prices, especially in Europe and Asia. Firm price differentials point to...

Base Oil News

Initiating coverage on CSN with an Overweight recommendation. YPF and Eni advance Argentina LNG project with new agreement. LatAm Aggregate Index...