Supply and demand remained the key drivers for base oil prices in Asia, while crude oil futures, moving within a narrow range, played more of a supporting role. Most base oil plants that had recently completed maintenance were operating at full capacity, but demand softened due to seasonal slowdowns, severe weather in some regions, and ongoing market uncertainties. As a result, certain grades faced downward pressure from growing availability, leading prices to ease compared to the previous week.
Crude oil futures, however, edged higher on Friday, supported by stronger-than-expected summer demand. This capped off an otherwise quiet week, with ICE Brent holding in a tight band between $65.80 and $67.90 per barrel, despite sharp U.S. stock market losses and minor refinery disruptions in the United States.
Editor-at-Large
A passionate writer in the lubricant industry, Awais Iqbal has been covering oils, greases, and industrial fluids since the start of his career. At 25, he’s already written for blogs, catalogs, and brand guides across the UAE. Awais’s insights help companies connect with their audience, and his clear, helpful writing style is trusted by brands in the region.
