The Brent–WTI spread has returned above $4/bbl, reopening US Gulf light-crude export arbitrage and prompting Asian buyers to re-price ESPO and Oman against medium-sour/sweet grades.

Geopolitics and sanctions keep Urals deeply discounted to Brent, but insurance and freight costs erode delivered advantage; monthly OSP tweaks on Dubai and Oman pass straight through to Asian refinery feedstock cost.

SNSUC's Crude Re-export Hall covers ESPO, Dubai, Oman, Urals, Basrah Light, Bonny Light and Lula — matching on listed price plus premium/discount, with blockchain attestation and digital warrants to help mid-size refiners lock deliverable grades and landed cost amid spread swings.