Base Oil
Base oil is a refined form of crude oil, primarily used in the production of lubricants, greases, motor oil, and metalworking fluids. Different types of base oi...
Base Oil Bytes
Daily Market Report
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Tariff Turbulence Hits Oil Trade: Indian Refiners Navigate Pressure from U.S. and EU Sanctions
India's oil market remains tight as refiners rush to replace Russian crude amid geopolitical tensions and Western scrutiny. Brent and WTI prices remain steady, but Indian bitumen prices vary across grades and locations. Urgent tenders and sourcing shifts point to rising procurement costs and heightened volatility in global energy markets.
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Oil Market Gains Amid US Crude Draw and Russian Export Cuts
Bitumen and base oil prices showed mixed regional trends, with sharp drops in VG40 and firm furnace oil rates. Crude oil markets strengthened on falling U.S. inventories and Russian export cuts. Despite temporary supply easing from Venezuela, global prices are expected to remain firm, supported by supply constraints and geopolitical developments.
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Base Oil Prices Steady in Asia Despite Monsoon-Led Demand Slowdown
Base oil prices across Asia remained stable to firm in mid-July, supported by constrained supply and rising crude benchmarks. Group I and III grades saw the most pressure. Demand stayed weak due to monsoon impact and soft industrial activity, while refinery turnarounds kept supply tight. Outlook remains firm for key grades.
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Tight Bitumen Supply and Firm Demand Keep Indian Market Supported
Brent crude has softened to $82.34/barrel on recession fears, but disciplined OPEC+ output keeps the downside in check. In India, bitumen prices continue to rise, especially at Kandla, amid tight import supply and strong restocking demand. Market sentiment remains bullish due to ongoing monsoon disruption and limited PSU allocations.
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Petrochemicals Set to Dominate Oil Demand Growth by 2030, Says IEA
Crude oil prices dipped marginally as global sentiment remains cautious. However, demand from petrochemicals is poised to become the largest growth segment for oil through 2030, driven by rising use of plastics and synthetic materials. China and the US lead in feedstock capacity, shaping trade flows and refining economics.
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Impact of Israel-Iran Conflict on Bitumen and Oil Prices
Bitumen prices across global markets show mixed trends as early monsoon weakens Indian demand while geopolitical instability, especially the Israel-Iran conflict, tightens supply. Crude volatility and force majeure conditions in Iran are disrupting export flows, with Europe and China facing upward pressure. Market participants must brace for heightened price and supply risks.
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Crude Oil Price Drop and Its Ripple Effect on Indian Oil Companies
Oil prices fell nearly 5% to $65.72/bbl following the Iran-Israel ceasefire, relieving pressure on Indian refiners but straining upstream firms like ONGC and Oil India. Domestic petroleum prices remained steady. Refining margins improved due to lower input costs, but global demand hesitancy and high inventories continue to weigh on market sentiment.
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India Weighs Export Cuts Amid Hormuz Blockade Threat
Petroleum product prices in India remain steady amid geopolitical tensions in the Middle East. While supply is currently uninterrupted, the threat of a Strait of Hormuz blockade is prompting India to prepare contingency plans, including export curbs. Strategic reserves and sourcing diversification may shield domestic markets from immediate disruption, but global pricing remains volatile.
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Iran-Isreal Tensions Push Crude Prices Higher Amid Hormuz Risk
Petroleum product prices in India remain steady, but rising geopolitical tensions between Israel and Iran have pushed crude oil prices to a two-month high. While India’s strategic reserves and advance procurement offer short-term protection, elevated freight costs and risks to the Strait of Hormuz may impact pricing and supply chains.
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