Today's FX split ran sharper than crude. USD/JPY printed 157.83, down 0.18% on the day; USD/KRW stood at 1342.53, down 1.28% — both the yen and the won strengthened against the dollar. USD/CNY held flat at 6.705, EUR/CNY ticked up 0.07% to 7.5406, and EUR/USD rose 0.12% to 1.1253.

For SNSUC the read is clear: dollar-denominated Mideast crude keeps a near-constant landed RMB cost (the yuan held), but Northeast Asian resales settled in yen or won — Korean refinery swaps, Japanese terminal buys — get cheaper in local currency, with the won alone cutting about 1.3% off landed local cost in a single day. The flip side: sourcing from Europe (EUR-priced) costs slightly more as EUR/CNY climbs.

Our listing formula switches the FX term live: USD/CNY uses the direct pair, and non-dollar currencies convert back to dollars first, then multiply by 7.33 to anchor. That way the won's 1.28% discount flows straight into Northeast Asian quotes in real time, with no wait for a daily recompute.