Lubricants Market Morning Report20260708

WTI: USD 72.15/bbl | Brent: USD 75.38/bbl

Crude Oil Surges Over 3% on July 7! Middle East Geopolitical Fears Fuel Oil Price Rebound

Section 1: Global Market Trends

Crude Jumps Over 3% on July 7; WTI Tops USD 72

Heightened tensions in the Middle East buoy market sentiment, with WTI at USD 72.15/bbl and Brent at USD 75.38/bbl

Jul 7, 2026

Israel strikes Hodeidah Port in Yemen; Houthi Militia Vows Retaliation

Sharp escalation of Middle East geopolitics underpins crude’s geopolitical risk premium

Jul 7, 2026

Russia Mulls Reinstatement of Diesel Export Ban

Global diesel supply may face further tightening

Jul 6, 2026

First Day After Domestic Fuel Price Cut: Price Wars Erupt at Gas Stations in Some Regions

Shandong local refineries take the lead in slashing prices, intensifying competition in retail fuel market

Jul 7, 2026

Shanghai crude futures rise 2.8% in night session, settling at CNY 450.6/bbl

The futures tracked strength in international crude prices amid stabilized RMB exchange rate

Jul 7, 2026

Section 2: Lubricant Industry News

Cautious Sentiment Prevails in Base Oil Market

Crude rebound lifts market sentiment, yet actual trading volume remains thin

Jul 7, 2026

New Breakthrough in Domestic Fully Synthetic Engine Oil Technology

Domestic production rate of low-viscosity PAO base oil climbs to 35%

Jul 6, 2026

Section 3: South American Market

Argentina’s Lubricant Imports Rise by 15%

Growing vehicle parc drives higher lubricant consumption demand

Section 4: African Market

Kenya’s Lubricant Market Logs 6% Annual Growth

Mining and transportation sectors act as core growth drivers

Section 5: Russian Market

Export Prices of Russian Lubricants Recover

Lukoil raises export quotations with robust purchasing interest from Asian buyers

Section 6: South Asian Market

India’s Lubricant Demand to Hit 3 Million Metric Tons

Driven by booming motorcycle lubricant demand, the market is projected to deliver a 3.7% CAGR during 2026–2030

Section 7: Marine Fuel Oil in Malaysia

Steady Growth in Malaysia’s Marine Fuel Demand

Over 100 methanol-powered vessels will be put into service starting from 2026

Section 8: Lubricant Fundamental Knowledge

Category A: Popular Science – Advantages of Fully Synthetic Engine Oil

• Superior low-temperature fluidity delivers enhanced cold-start protection

• Outstanding high-temperature stability with reliable viscosity retention

• Extended oil drain intervals lower comprehensive operating costs

• Excellent detergency and dispersancy reduce engine deposit buildup

Category B: Technical Brief – Functions of Viscosity Index Improvers

• Optimize oil viscosity performance across varying temperatures

• Core additive component for multi-grade engine oils (e.g. 5W-30)

• Polymer macromolecules expand and thicken oil under high temperatures

• Oxidative degradation causes excessive oil thickening and service failure