· Crude oil prices hold close to highest level in more than five months amid rising geopolitical tensions, tighter-than-expected supply fundamentals.· Diesel premium to crude oil holds close to lowest in nine months.· Seasonal rise in lube demand in US and Europe contrasts with slowdown in consumption in Asia at start of second quarter of the year.· Asia’s base oils demand likely to be more muted as healthy availability of supply curbs urgency to replenish stocks.· China’s base oils demand stays cautious, and at levels that free up regular base oils volumes for export.· India’s base oils demand could ease as wave of shipments from US, Saudi Arabia and South Korea reach the country.· Europe’s regional base oils demand likely to get boost from seasonal pick-up in regional lube consumption.· Narrower Europe Group II premium to Group I base oils and prospect of tighter availability of Group I supplies could boost demand for the premium-grade base oils.· Overseas demand for European supplies could ease in response to higher prices and signs of more plentiful availability from other markets.· US base oils demand could get support from signs of more balanced supply fundamentals.· Widening gap between US posted prices and US domestic spot prices suggests that buying interest remains cautious and supply readily available.· Those fundamentals give buyers the flexibility to continue to procure smaller volumes and maintain lower stocks..Global base oils margins outlook: Week of 15 April.Global base oils arb outlook: Week of 15 April.Asia base oils demand outlook: Week of 15 April
· Crude oil prices hold close to highest level in more than five months amid rising geopolitical tensions, tighter-than-expected supply fundamentals.· Diesel premium to crude oil holds close to lowest in nine months.· Seasonal rise in lube demand in US and Europe contrasts with slowdown in consumption in Asia at start of second quarter of the year.· Asia’s base oils demand likely to be more muted as healthy availability of supply curbs urgency to replenish stocks.· China’s base oils demand stays cautious, and at levels that free up regular base oils volumes for export.· India’s base oils demand could ease as wave of shipments from US, Saudi Arabia and South Korea reach the country.· Europe’s regional base oils demand likely to get boost from seasonal pick-up in regional lube consumption.· Narrower Europe Group II premium to Group I base oils and prospect of tighter availability of Group I supplies could boost demand for the premium-grade base oils.· Overseas demand for European supplies could ease in response to higher prices and signs of more plentiful availability from other markets.· US base oils demand could get support from signs of more balanced supply fundamentals.· Widening gap between US posted prices and US domestic spot prices suggests that buying interest remains cautious and supply readily available.· Those fundamentals give buyers the flexibility to continue to procure smaller volumes and maintain lower stocks..Global base oils margins outlook: Week of 15 April.Global base oils arb outlook: Week of 15 April.Asia base oils demand outlook: Week of 15 April
