· Global base oils values stay high even as they edge lower vs feedstock/competing fuel prices.· US Group II price-premium falls faster than in other markets.· Any extension of that trend could point to more of a change in US supply-demand fundamentals compared with other markets.· FOB Asia Group I/II base oils price premium to Singapore gasoil price stays high even after falling over past week.· FOB Asia Group I/II heavy-neutrals premium to gasoil holds close to multi-year high..· Persistently-high base oils premium points to tight supply-demand fundamentals, incentivizes refiners to increase base oils output..· China’s domestic Group I/II light/heavy-neutrals price premium to Shandong diesel prices extends strong rise.· Domestic Group I SN 400 premium to diesel rises to highest in more than three years..· Domestic Group II N500 premium to diesel rises to highest in almost three years.· Rising premium points to tight supply-demand fundamentals, especially for Group I base oils and especially for heavy neutrals..· CFR India Group II N70 premium to Singapore gasoil price slides to lowest in more than a month, from highest since Nov 2023..· Premium remains high and at level that keep arbitrage open to move very-light grade base oils to India.· Premium remains at level that incentivizes refiners to maintain high base oils output and to keep very-light grade supplies in the base oils rather than diesel market..· Europe’s Group I/II base oils premium to VGO stays high even as it edges lower..· Firm premium points to strong supply-demand fundamentals, incentivizing regional refiners to boost output, and refiners outside the region to move more supplies to Europe..· Europe Group II light-grade premium to VGO stays firmer than US Group II premium to VGO..· Gap between Europe and US premium to VGO increases to widest in four months.· US Group II export N100 premium to VGO falls to lowest in more than two months..· N100 premium stays high even after fall.· Any extension of the fall in premium could point to signs of a more marked change in supply-demand fundamentals in US market..Asia base oils demand outlook: Week of 23 Sept.Asia base oils supply outlook: Week of 23 Sept
· Global base oils values stay high even as they edge lower vs feedstock/competing fuel prices.· US Group II price-premium falls faster than in other markets.· Any extension of that trend could point to more of a change in US supply-demand fundamentals compared with other markets.· FOB Asia Group I/II base oils price premium to Singapore gasoil price stays high even after falling over past week.· FOB Asia Group I/II heavy-neutrals premium to gasoil holds close to multi-year high..· Persistently-high base oils premium points to tight supply-demand fundamentals, incentivizes refiners to increase base oils output..· China’s domestic Group I/II light/heavy-neutrals price premium to Shandong diesel prices extends strong rise.· Domestic Group I SN 400 premium to diesel rises to highest in more than three years..· Domestic Group II N500 premium to diesel rises to highest in almost three years.· Rising premium points to tight supply-demand fundamentals, especially for Group I base oils and especially for heavy neutrals..· CFR India Group II N70 premium to Singapore gasoil price slides to lowest in more than a month, from highest since Nov 2023..· Premium remains high and at level that keep arbitrage open to move very-light grade base oils to India.· Premium remains at level that incentivizes refiners to maintain high base oils output and to keep very-light grade supplies in the base oils rather than diesel market..· Europe’s Group I/II base oils premium to VGO stays high even as it edges lower..· Firm premium points to strong supply-demand fundamentals, incentivizing regional refiners to boost output, and refiners outside the region to move more supplies to Europe..· Europe Group II light-grade premium to VGO stays firmer than US Group II premium to VGO..· Gap between Europe and US premium to VGO increases to widest in four months.· US Group II export N100 premium to VGO falls to lowest in more than two months..· N100 premium stays high even after fall.· Any extension of the fall in premium could point to signs of a more marked change in supply-demand fundamentals in US market..Asia base oils demand outlook: Week of 23 Sept.Asia base oils supply outlook: Week of 23 Sept
