Supply remained tighter than expected as lower exports from Singapore and Taiwan offset the seasonal slowdown in demand.

Singapore's imports climbed to a five-year high while exports stayed unusually weak, pointing to subdued domestic production.

South Korea expanded exports to both Southeast Asia and the US, cementing its role as the market's key swing supplier.

US base oils prices outperformed crude and diesel as tight supply kept refiners focused on core term customers.

Importers adjusted supply chains, with Pakistan broadening its supplier base and Brazil increasing US imports to cover maintenance.

Trade flows became more unconventional, with Singapore drawing cargoes from Europe and the US, while India shipped Group III to the US.

The loss of Middle East Group III supply continued reshaping global trade flows, increasing reliance on alternative suppliers.