Lubricants Market Morning Report 20260609

一、Global Market Trends

Israeli Airstrikes on Iran, Middle East Flames Reignite

In the early hours of June 8, the Israeli Air Force launched precision airstrikes on military targets in western and central Iran, triggering consecutive explosions in Tehran, Tabriz, and Isfahan. The Islamic Revolutionary Guard Corps (IRGC) subsequently launched Operation Nasr, firing ballistic missiles at Israeli Air Force bases. After hours of exchanges, both sides announced a suspension of military operations. U.S. mediation efforts ended in failure, and the reopening of the Strait of Hormuz was further delayed。

Iran’s Missile Strikes on Israel Resume, First Since April Ceasefire

On the evening of June 7, Iran fired four rounds of missiles at Israel, retaliating for Israeli airstrikes on southern Beirut. This marked the first Iranian attack on Israel since the April 8 ceasefire took effect. Air raid sirens sounded in Haifa and other northern Israeli cities, while Yemen’s Houthi rebels also fired missiles at Israel the same day. China expressed grave concern, noting that renewed conflict benefits no side.

Oil Prices Plunge and Surge: Intraday Gain of 5.5% Eases to +0.84%

Amid escalating Israel-Iran tensions, WTI crude posted an intraday gain of 5.5% to above $95 on June 8, with Brent touching $98. However, prices retreated sharply after both sides announced a military pause. WTI closed at $91.30 (+0.84%), Brent at $94.25 (+1.25%). The market swung violently between safe-haven demand and ceasefire expectations, with volatility rising significantly.

EU Mulls Freezing Russian Oil Price Cap to Curb Profits

Multiple Western media outlets report the EU is considering freezing its price cap on Russian oil, keeping it at current levels instead of adjusting to market conditions — aimed at preventing Russia from reaping windfalls from soaring global oil prices. A full ban on Russian oil is unlikely, but possible changes to the price cap add new policy uncertainties for Russian oil exports.

Domestic Fuel Price Cut Expected on June 18: CNY 130 per Tonne

The 12th refined oil pricing cycle has entered its second working day. Driven by falling international crude prices, the rate of change of crude oil prices remains negative, signaling an expected cut of CNY 130 per tonne (approximately CNY 0.10–0.12 per liter). The next pricing window closes at 24:00 on June 18. A price cut of CNY 525/505 per tonne for different oil products took effect on June 4; another reduction would mark the first consecutive cuts this year.

Ukrainian Forces Strike Russia’s St. Petersburg, Energy Facilities Hit

Overnight June 6–7, Ukraine launched large-scale drone attacks on Russia. Drones flew approximately 1,000 km to target St. Petersburg’s naval arsenals and Kronstadt base, alongside energy facilities in Krasnodar. Drones pose a growing threat to Russia’s energy infrastructure, potentially disrupting oil production and exports.

二、Lubricant Industry News

Kunlun Lubricants Makes History with Dual International OEM Approvals, Breaking Marine Lubricant Monopoly

Kunlun Lubricants’ independently developed Kunlun 5040P marine cylinder oil and Kunlun M3536 additive package obtained Cat II dual certification from Enerlyte (formerly MAN ES) — a first for Chinese manufacturers. Enerlyte holds around 70% of the global marine low-speed engine market. This certification represents the highest technical barrier for marine lubricants, signifying full domestic autonomy in high-end marine lubricant materials.

2026: Lubricant OEM Model Undergoes 'Hidden Shuffle'

Rising hybrid vehicle penetration challenges traditional formulations. Frequent start-stop, low-temperature running and high risk of moisture emulsification put heavy strain on conventional products. Amid triple pressures: new energy adoption, raw material volatility, and formulation upgrades, the lubricant OEM model faces structural shifts. Demand for high-quality synthetic oils and custom formulations grows, squeezing profit margins for low-end OEM products.

三、South American Market

Brazil Power & Energy Show Kicks Off in August; SA Lubricant Market Gears Up

The 2026 TSEA Brazil Power & Energy Show, South America’s premier energy event, will take place in São Paulo in August. Brazilian base oil output continues recovering, creating a supply glut that pressures regional base oil prices. Local blenders see lower raw material costs, intensifying export competition.

四、African Market

Angola’s Crude Exports Shift East; China-Angola Energy Cooperation Deepens

Angola’s June crude export plan shows light crude flowing heavily to Chinese and Indian buyers. Angola advances domestic refinery upgrades to boost value addition. China-Angola energy cooperation strengthens, with Angola emerging as a key Chinese crude supplier — supporting stable lubricant feedstock supply.

五、Russian Market

Ukrainian Drones Strike Russian Mainland; Energy Infrastructure at Risk

On June 6–7, Ukrainian drones flew approximately 1,000 km to target military and energy sites in St. Petersburg and Krasnodar. Russia’s energy infrastructure faces persistent threats. Coupled with Western sanctions and EU price cap adjustments, long-term risks of Russian oil supply contraction have increased.

六、South Asian Market

Hormuz Blockade Batters India; 3 Million Barrels per Day at Risk

India imports 85% of its fuel, at around 5.5 million barrels daily. Before the conflict, roughly 50% of crude oil transited the Strait of Hormuz. Currently, approximately 3 million barrels per day are at risk of disruption. India is struggling to secure alternative routes and accelerating supply diversification with sources including Venezuela, Brazil and Angola, yet short-term supply security remains tight.

七、Malaysian Market (Marine Lubricants)

Kunlun’s Marine Oil Certification Reshapes Asia-Pacific Bunker Landscape

Kunlun’s Cat II certification triggers a potential realignment of the Asia-Pacific marine lubricant market. Singapore and Malaysia’s Port Klang, global bunkering hubs, maintain steady near-term demand. However, Middle East tensions raise shipping risks in the Red Sea, diverting some vessels via the Cape of Good Hope and impacting transit bunkering volumes at Port Klang.

八、Lubricant Basics

Shelf Life & Storage of Lubricants

Unopened lubricants typically last 3–5 years; once opened, they should be used within 12 months. Key storage rules: seal tightly to block moisture, avoid exposure to light and heat. Opened oil oxidizes faster when exposed to air, and moisture will cause emulsification and product degradation. Store containers upright with caps securely fastened and keep away from heat sources to maximize service life.

Decoding SAE J300 Viscosity Grades: What the Numbers Mean

SAE J300 is the engine oil viscosity classification standard. Take 5W-30 as an example:

九、Technical Highlights

Extreme Pressure (EP) Anti-Wear Additives: Nano & Eco-Friendly Future

A research review by Shenyang University of Technology confirms that sulfur-phosphorus-chlorine-based EP additives remain dominant, and compound additive development is still a major research focus. Future trends fall into three categories:

1. Multifunctional compounds that deliver multiple effects from a single additive.

2. Nano-additives such as fullerene and graphene for friction reduction.

3. Eco-friendly EP additives free of sulfur, phosphorus and chlorine, represented by borates. Borates form durable boride films, featuring low toxicity, non-corrosiveness and excellent thermal stability.

Detergent-Dispersants: 50% of Additive Volume, Accelerated Tech Upgrades

Detergent-dispersants make up the largest category of lubricant additives, accounting for around 50% of total volume. Their core functions are to neutralize acids, solubilize and disperse sludge to keep engines clean. The product evolution has gone from phenates and sulfonates to salicylates, and the industry now moves toward low-ash, high-efficiency formulations. China’s National VI emission standards have tightened ash content limits, driving the shift to low-SAPS (Sulfated Ash, Phosphorus, Sulfur) detergent systems.