· Global base oil prices mostly extend rise vs feedstock/competing fuel prices, ICIS data shows.· Weaker diesel premium to crude could boost attraction of base oils production even with relatively-lower base oils premium.· FOB NE Asia Group II base oil premium to Singapore gasoil holds at highest in months, with N500 at highest since June 2023..· Firm Group II premiums incentivize refiners to maintain or raise output.· FOB Asia Group I heavy-grade base oils premiums to Singapore gasoil hold close to highest since Q2 2023.· Firm Group I premium should incentivize rise in production; tight capacity could curb any such moves..· Domestic China Group II light-grade base oil premium to Shandong diesel holds steady for past month at levels that remain well below year-earlier levels..· Lower premium could curb prospect of large build-up of domestic supplies in China..· CFR India Group II N70 premium to Asia gasoil edges down from last week, holds close to highest since Nov 2023..· Higher premium boosts incentive for regional refiners to produce more very-light grades for base oils market..· Europe Group I export prices extend strong rebound vs VGO since early March 2024.· Europe Group I export brightstock premium to VGO rises to highest since Dec 2023, outpaces rise in SN 150 and SN 500 premium..· Europe Group I domestic prices rise vs VGO since early March 2024 but much less strongly than export prices.· Europe Group I domestic brightstock premium to VGO rises less than SN 150 and SN 500.· Europe Group II N150 premium to VGO rises from lowest in more than six months, stays low vs past year..· US Group II export prices hold close to five-month high vs heating oil; heavy-grade premium to heating oil stays unusually low even after recent rebound.· US Group II export prices similarly extend gains vs VGO, with heavy-grade premium still unusually low.· US Group II domestic N100/120 premium to VGO extends gradual recovery; N600 premium to VGO extends fall to lowest since Q1 2022..· US Group II light-grade posted price premium to VGO extends rebound to highest this year.· US Group III 4cSt premium to VGO edges up, holds close to lowest since Q1 2021..Asia base oils demand outlook: Week of 29 April.Asia base oils supply outlook: Week of 29 April
· Global base oil prices mostly extend rise vs feedstock/competing fuel prices, ICIS data shows.· Weaker diesel premium to crude could boost attraction of base oils production even with relatively-lower base oils premium.· FOB NE Asia Group II base oil premium to Singapore gasoil holds at highest in months, with N500 at highest since June 2023..· Firm Group II premiums incentivize refiners to maintain or raise output.· FOB Asia Group I heavy-grade base oils premiums to Singapore gasoil hold close to highest since Q2 2023.· Firm Group I premium should incentivize rise in production; tight capacity could curb any such moves..· Domestic China Group II light-grade base oil premium to Shandong diesel holds steady for past month at levels that remain well below year-earlier levels..· Lower premium could curb prospect of large build-up of domestic supplies in China..· CFR India Group II N70 premium to Asia gasoil edges down from last week, holds close to highest since Nov 2023..· Higher premium boosts incentive for regional refiners to produce more very-light grades for base oils market..· Europe Group I export prices extend strong rebound vs VGO since early March 2024.· Europe Group I export brightstock premium to VGO rises to highest since Dec 2023, outpaces rise in SN 150 and SN 500 premium..· Europe Group I domestic prices rise vs VGO since early March 2024 but much less strongly than export prices.· Europe Group I domestic brightstock premium to VGO rises less than SN 150 and SN 500.· Europe Group II N150 premium to VGO rises from lowest in more than six months, stays low vs past year..· US Group II export prices hold close to five-month high vs heating oil; heavy-grade premium to heating oil stays unusually low even after recent rebound.· US Group II export prices similarly extend gains vs VGO, with heavy-grade premium still unusually low.· US Group II domestic N100/120 premium to VGO extends gradual recovery; N600 premium to VGO extends fall to lowest since Q1 2022..· US Group II light-grade posted price premium to VGO extends rebound to highest this year.· US Group III 4cSt premium to VGO edges up, holds close to lowest since Q1 2021..Asia base oils demand outlook: Week of 29 April.Asia base oils supply outlook: Week of 29 April
