Brent settled at $113.15 and WTI at $104.011, each up close to 2% on the day. The spread rebounded from $8.71 to $9.14. With the yuan at 6.6531, Brent's landed cost in yuan is about 752.9 yuan per barrel, roughly 0.25% lower than last week.

Butadiene rubber added 2.77% to ¥17,245/t while natural rubber eased 0.52% to ¥19,170/t; the spread between the two compressed to ¥1,925/t, reopening the compound-substitution window.

Brent at $111.58 and WTI at $102.88 put the spread at $8.71, down from the prior session; the seven-grade book reprices delivered cost off Brent plus premium and freight.

Brent eased 0.87% to $110.67 and WTI 0.73%, yet fuel oil and bitumen rose 2.13% and 3.34%. The crude-versus-products gap widened and lifted margins on heavy-end refining routes.

East China tankage tightness and elevated demurrage rates indicate that storage constraints have transmitted to spot premiums; fuel oil and asphalt prices rose in tandem, reflecting broad-based increases in regional holding costs. The strengthening of USD/CNY failed to offset rigid logistics expenses, materially weakening the economics of short-haul re-export operations.

SNSUC prices crude off a fixed formula; with Brent at $110.04 and USD/CNY 6.6613 the benchmark landed cost is about RMB 5,373/t, nearly 2% below a week ago.

Brent $110.23 and WTI $101.40 this morning leave the spread at $8.83, down from $9.60; seven transshipment grades repriced per voyage.

SOMO’s November Asia OSP for Basrah Medium and Heavy remains at -2.80 and -5.80 USD/bbl respectively; net delivered discounts have deepened notably, with Heavy offering stronger relative value. Brent front-month settled at 110.122 USD/bbl on 2026-10-29 (-1.36%), while Hormuz Strait passage data has been unavailable since 2026-03-01 per IMF PortWatch.

Brent settled at USD 111.56/bbl and WTI at 102.20, both back at multi-session highs. The yuan's move to 6.6661 against the dollar trimmed the landed duty-paid cost to a roughly 2.5% gain, leaving the import window open. Short-haul light-sweet grades — ESPO, Dubai, Oman — regained their edge over long-haul US Gulf cargoes on combined freight and discount terms.

Paraffin futures at ¥3,650/t (-1.62%), petcoke inventory elevated, East China tankage utilization tight constraining export loading efficiency. Brent–WTI spread narrowed to $9.43; RMB appreciation failed to offset weak domestic demand.

Fuel oil front-month at CNY 5,485/t gains 3.39%, beating bitumen; FO-BIT spread flips to +CNY 406/t as residue yield shifts to bonded VLSFO bunker.

Brent at 111.301 and WTI at 101.706 push the spread from 9.022 to 9.595. Brent-linked Oman and Dubai delivered quotes need a refresh.

As of Oct 29, public market data shows Brent at USD 110.12/bbl (-1.36%) and WTI at USD 101.51/bbl (-1.24%); the Iran–Saudi–Turkey–Pakistan high-level security talks eased diplomatic risk premium. SOMO’s November Asia OSP for Basrah Medium is -2.80 USD/bbl and for Basrah Heavy is -5.80 USD/bbl (OSP is official pricing published by SOMO; JODI does not cover OSP, but SOMO’s OSP is policy-based and publicly issued).

Fuel oil -1.79% and bitumen -0.88% break the daytime premium divergence; refiners tilt residue back to coking.

Both benchmarks slipped and the spread pulled back to $8.97; a firmer yuan drove Brent's RMB landed cost to about ¥731/bbl, reopening the short-haul light-sweet feedstock window.

Fuel oil at ¥5,262/t holds a ¥393/t premium to bitumen at ¥4,869/t as refiners tilt residue yield to VLSFO bunker; bonded-bunker demand is steadier than coking feed.

Brent settles at $109.94 and WTI at $100.92, pushing the transatlantic spread back above $9. The delivered-and-dutied cost of the seven transshipment grades — ESPO, Dubai, Oman, Urals, Basrah Light, Bonny Light, Lula — edges higher in lockstep, and the window to lock forward FX tightens.

SOMO set November Asia OSP at Basrah Medium -2.80 and Heavy -5.80 USD/bbl (announced Oct 8, following Saudi's market-share defense). Spot FOB dark discounts: Medium -34.50, Heavy -37.00. Net delivered discounts ≈ -37.3 (Medium) / -42.8 (Heavy) USD/bbl. On Oct 27 Brent pulled back from a six-month high to 115.81 USD (-0.78%), yet Hormuz saw 12 attacks last week and war-risk premium hit 10% of cargo value.

Brent eased to $109.742 and WTI to $100.915, pulling the spread down to $8.83. Shanghai fuel oil and bitumen barely moved, while a stronger yuan trimmed import parity cost and pushed refinery cracks wider.

Natural rubber settled at Y19,580/t (-0.53%) while butadiene rubber rose to Y16,455/t (+0.58%). The gap between the two shrank from Y3,800-4,450 to Y3,125. A tighter gap trims the cost penalty of using natural rubber, nudging tire recipes back toward the natural leg.

Brent at $109.67 and WTI at $100.89 push the spread from $8.61 to $8.78; Middle East and West African delivered cost must anchor to Brent.

SOMO set the November Asia OSP: Basrah Medium at -2.80/bbl and Heavy at -5.80/bbl to Oman/Dubai, deeper than October (0.00/-3.30), following Saudi's market-share defense. Recent loading cargoes show FOB spot dark discounts of ~-34.50 (Medium) and ~-37.00 (Heavy). Hormuz transit runs ~82% of pre-war (~11.7 mb/d) with attacks still elevated and war-risk hull premium held at 6%–10%.

Brent settled at USD 112.10/bbl, +3.17%, and WTI at 103.49, +4.04%, but the onshore RMB rate firmed to 6.6704 (roughly +0.6%), shaving most of the dollar gain. Under SNSUC's pricing formula (Brent x FX x 7.33 x grade), the RMB-denominated landed cost of Brent rose only about 2.5%, so the import window stays open.

Across SNSUC's 13 tracked categories the petrochemical complex rallied broadly today but in clear tiers: Brent/WTI around +3%, fuel oil at 5,349 RMB/t leading with +6.38%, bitumen 4,766 +3.61%, and natural rubber just +0.43%. The tiering reflects distinct fundamentals, not noise.

The Brent–WTI premium compressed from $13.54 on Oct 23 to $8.61. CIF costs on the seven transshipment grades — ESPO, Dubai, Oman, Urals, Basrah Light, Bonny Light, Lula — must be recalculated on the new spread.

WTI gained 4.04% against Brent's 3.17%, pulling the transatlantic spread back to $8.61. US Gulf export discounts and ESPO/Lula delivered costs into China shift, forcing a repricing of transshipment hedges.

Brent-WTI spread reached $13.54/bbl today, forcing a repricing of the seven transshipment grades' delivered quotes while downstream cracks still hold.

SOMO set its December OSP to Asia sharply higher versus November (Medium -0.35, Heavy -3.10), reversing last month's Saudi-following cut. The same night IRGC reported 7 tankers struck or mined - the worst single-day toll since Feb 28 - sending Brent to 113.17, a five-month high. Buyers' net delivered cost is still dragged by freight plus war risk (~$21-26/bbl transit friction), so procurement should anchor on net delivered price, not OSP list.

Brent closed at $112.07 and WTI at $99.50, lifting feedstock cost nearly 3% on the day, while fuel oil rose just 2.4% and bitumen 0.53%; simple crack spreads narrowed and unhedged independents cut runs.

Fuel oil settled at CNY 4,911/t, up 2.40% on the day — about 4.5x bitumen's 0.53% gain — flipping the FO/BIT spread positive as residue yield tilts toward bunkers.

The Brent–WTI spread printed $12.11 a barrel, widening about $1.13 from the prior $10.98 and reopening arbitrage windows across seven transshipment grades.

On Oct 21, Brent front-month settled at $108.82/bbl (flat, +0.03%) and WTI at $97.15/bbl (-0.68%). SOMO set November Asia OSP for Basrah Medium at -2.80 and Heavy at -5.80 to Oman/Dubai, a sharp deepening from October. Recent-loading cargoes show FOB spot dark discounts of ~-34.50 (Medium) and ~-37.00 (Heavy). On Oct 21 two more tankers were struck near Hormuz; IEA says Gulf shipping costs have hit $37/bbl, 5x pre-war.

The 23:04 snapshot shows fuel oil at 4,775 yuan (-0.44%) and bitumen at 4,485 yuan (-0.53%) both pulling back, unwinding the earlier intraday premium of fuel oil over bitumen. Refiners are shifting vacuum residue between delayed coking and bonded bunkering, reshuffling yields and crack spreads.

Brent settled at $108.32 and WTI at $97.17, both lower. The yuan firmed past 6.68 against the dollar. Under SNSUC's listing formula (Brent x FX x 7.33 x grade), the crude benchmark landed cost has retreated about 162/t CNY from its early-month peak, easing the working-capital load on transfer trades.

Brent crude stands at USD 110.122/bbl and USD/CNY at 6.6781, lifting landed base oil cost; the N350–fuel oil futures spread has widened to a recent high. Refinery outages have intensified import substitution pressure.

Both crudes firmed and the transatlantic spread tightened about $0.18 from the prior session; the landed and duty-paid model for all seven transshipment grades needs a refresh.

Iraq's SOMO set November Asia OSP: Basrah Medium at -2.80/bbl to Oman/Dubai (flat in Oct), Heavy widened to -5.80/bbl (Oct -3.30), following Saudi's market-share defense. Recent loading cargoes show FOB spot dark discounts of ~-34.50 (Medium) and ~-37.00 (Heavy). Hormuz transit remains ~70% below pre-war; war-risk hull premium 6%–10%, single-VLCC surcharge up to $20M. Chinese independents continue locking 12–20 mb of Basrah Medium/Heavy and Al-Shaheen for Oct–Nov to replace lost Iranian barrels.

Both benchmarks rose but at different speeds; WTI +2.33% beat Brent +1.73%, pulling the spread from $11.10 to $10.61 and restoring USGC light crude's arbitrage edge into Asia.

Brent settled at $109.801 and WTI at $98.706, with both benchmarks gaining less than $0.30 on the day, yet the spread reopened to $11.10 after sitting near $8. The yuan firmed to 6.679 against the dollar, so the landed duty-paid cost — Brent times FX times 7.33 times grade — actually eased, reshuffling the feed economics of short-haul light-sweet grades like ESPO, Dubai and Oman.

Fuel oil closed at ¥4,976/t, a ¥477 premium over bitumen at ¥4,499/t, flipping the earlier bitumen premium. Independents push residue yields toward low-sulphur bunker as IMO2020 compliance and the bonded bunker spread do the work.

Brent closed at $109.95 and WTI at $98.79, leaving an $11.16 spread. Delivered costs for the seven transshipped grades (ESPO, Dubai, Oman, Urals, Basrah Light, Bonny Light, Lula) are rebuilt against the discount structure.

Iraq's SOMO set November Asian OSP: Basrah Medium at -$2.80 and Heavy at -$5.80 vs benchmark, sharply deeper than October to defend share; with Hormuz war-risk premia (hull 6%–10%, up to $20M附加 per VLCC) and strait flows at 68%–76% of pre-conflict, Brent holds near last week's highs. Chinese independents have locked 12–15 mb of Basrah Medium/Heavy and Al-Shaheen for Oct–Nov to replace lost Iranian volumes.

Brent settled at $108.50 and WTI at $97.67, both lower. Under the Brent×FX×7.33×grade formula the landed base falls back to ¥5,313/t, pulling all seven transfer grades lower.

Brent at $107.774 and WTI at $97.412 push the spread from $8.08 to $10.36. Two market logics diverge, forcing a reset of delivered floors across SNSUC's seven transshipment lines.

SOMO's November Asia OSP turns Basrah Medium to a 2.80 discount and widens Heavy to 5.80 vs benchmark, tracking Saudi share defence; Brent/WTI eased on Oct 18 after the Oct 17 spike, yet Hormuz throughput stays ~68% of pre-conflict and war-risk premia hold at 6%–10% hull.

Brent at 109.928 and WTI at 101.846; USD/CNY 6.687 with yuan ~0.7% stronger leaves the RMB landed cost up only ~3.0%, so the import window stays open.

On a day crude rallied, the heavy-product chain diverged on its own. Fuel oil reached 4,947 yuan/t while bitumen eased 0.36% to 4,454; refiners shunt residue toward bonded bunker and coking, reshuffling crack spreads and margins.

Brent prints $109.93/bbl (+3.78%) and WTI $101.85/bbl (+3.96%); the synchronized move widens the Brent–WTI spread back to $8.08. Applying SNSUC's listing formula Brent × FX × 7.33 × grade (grade 1.0) lifts the delivered basis to ¥5,388/t, forcing a repricing of the seven-grade transshipment quotes.

Brent at $109.93 and WTI at $101.85 leave an $8.08 spread, about $4 tighter than a week ago. The narrowing compress the appeal of Brent-discount cargoes to Asian refiners.

SOMO set November Basrah Medium/Heavy OSP to Asia at -2.80/-5.80 vs Oman/Dubai, a sharp cut from October's 0.00/-3.30, tracking Saudi's market-share defence; Brent settled 110.122 (+?%), WTI 101.51 (+?%), with an intraday 110 for the first time since May and significant YTD gains; Hormuz Strait has experienced AIS visibility interruption since March 2026, transit status remains constrained, and IMF PortWatch reports 'data unavailable' for daily passage.

Brent at $109.928 and WTI at $101.846 keep the spread above $8. SNSUC's transshipment list prices off Brent x FX x 7.33 x grade, so the absolute move rewrites every bill of lading.

On Oct 16 fuel oil closed at ¥4,743/t (-1.92%) against bitumen at ¥4,500/t (+0.11%). The spread reversed from a discount to a 243 yuan premium for fuel oil. Refiners are steering residue yield toward VLSFO bunker blending under the IMO2020 0.5% sulfur cap, which keeps the structure bid.

Paraffin: ¥8,210/t (-1.32%); petroleum coke: ¥2,965/t (+0.47%); port stocks at 423kt (+1.8% w/w). FOB Busan paraffin quotes fell below landed cost; power plant procurement slowdown accelerated coke accumulation.

Brent at $105.70 and WTI at $95.55 leave a $10.14 spread, some $2.50 below the $12.64 of October 13, reopening the arrival-cost gap across the transfer book.

Bitumen closes up 2.81%, beating fuel oil's 0.77%; independents re-split residue between coking and bunkers.

Both benchmarks fell; the Brent–WTI spread widened to USD 12.85 while a softer RMB lifted landed duty-paid cost, reshuffling short-haul light-sweet feedstock economics.

Both natural and butadiene rubber fell, but BR dropped further, pushing the spread back to a year-high and reopening the tire-formulation swap window.

Brent and WTI both slipped $2.10, holding the spread near $12.6. SNSUC's seven-grade offshore resale (ESPO, Dubai, Oman, Urals, Basrah Light, Bonny Light, Lula) is priced off Brent, and the wide spread opens an arbitrage lane for US grades into Asia.

SOMO set November Basrah Medium/Heavy OSP to Asia at -2.80/-5.80 vs Oman/Dubai, a sharp cut from October's 0.00/-3.30, tracking Saudi's market-share defence; Brent settled 106.65 (+1.84%), WTI 93.74 (+2.06%); Iran reaffirms Hormuz won't return to normal, at least 6 vessels struck, war-risk premia at 7.5-10% of hull.

NR front-month settled at ¥20,980/t, up 3.76% on the day to a multi-month high; butadiene rubber followed with a 2.6% gain to ¥16,795. Tire makers that left fixed-price coverage short took larger mark-to-market losses, and bonded warehouse receipts became the tool of choice to lock stock.