LubriEdge Metal Working Fluid (Broaching Oil) in Bhiwadi

Base Oil (SN150) is priced at ₹68/kg in Delhi and ₹61.5/litre in Kandla. In Bhiwadi, hydraulic and specialty oils range from ₹87 to ₹135/litre. UK imposes anti-dumping duties on engine oil and hydraulic fluid imports from Lithuania and UAE, aiming to protect domestic manufacturers from price undercutting and margin erosion.

Crude oil prices saw modest gains, with WTI at $64.19/bbl and Brent at $67.89/bbl. The Indian Rupee weakened to ₹85.34/USD. Russia now supplies 36% of India’s crude, outpacing OPEC. Domestic bitumen, base oil, and fuel oil prices remain stable. Market sentiment is bullish amid tightened supply and rising geopolitical risks.

Petroleum product prices in India remain firm amid shifting global trends. Crude oil markets face pressure from rising U.S. inventories, trade war fears, and geopolitical tensions. India saw a modest bitumen price hike, while Iran's post-holiday supply may soon affect regional dynamics. The market outlook stays cautious and sensitive to global developments.

Oil & gas product prices remain mixed, with base oils, fuel oils, and lubricants showing grade and packaging-based variations. Global sanctions and trade shifts, particularly U.S. actions against Iranian crude, are creating supply-side uncertainty. OPEC+ production increases and stable inventory levels offer a buffer, but volatility risks remain high.

China’s crude oil imports fell 5% in early 2025 due to U.S. sanctions and port restrictions, raising freight costs and limiting supply. Refined product exports dropped 18%, while LNG imports declined 7.7%. However, imports are expected to rebound in March-April as refiners adapt, securing alternative crude and attracting more non-sanctioned tankers.

Base oil prices in Asia remained soft in April amid sluggish demand and geopolitical uncertainty. Select grades like Bright Stock and Group III remain tight due to supply constraints. However, Group II prices faced downward pressure from rising inventories. Market outlook stays cautious as crude benchmarks decline and trade risks persist.

Petroleum prices showed mixed movement this week, with Brent crude closing at $66.48 and bitumen prices increasing slightly in India due to strong local demand. While no immediate disruptions have been reported from Middle Eastern tensions, underlying geopolitical uncertainty continues to influence supplier sentiment and price volatility, especially in markets like Iran. U.S.–China tensions and ongoing Iran-U.S. negotiations are also shaping market forecasts and investor behaviour.

India’s average crude oil import price has fallen below $70 per barrel for the first time since August 2021, offering refiners a breather amid global volatility. Despite international supply fluctuations and geopolitical tensions, Indian fuel demand remains strong. With record-high import dependence and steady domestic consumption, refiners are likely to benefit from improved margins and better procurement terms.

Oil prices have dipped to a four-year low, benefiting oil-importing nations like India through lower import bills and reduced inflationary pressures. Despite global market volatility and geopolitical tensions, India's economy stands to gain. However, domestic fuel prices remain unchanged amid uncertainty, while experts forecast crude to stay below $75/barrel.