The evening euro prints 7.4889 against the yuan, up 0.3228, and 1.1192 against the dollar, up 0.3407 — stronger on both crosses. On SNSUC's Europe trade ledger, euro-settled imports of equipment and technical services get cheaper, while dollar-priced crude delivered costs edge up; one book pulls in two opposite currency directions.

Across northeast Asia, the dollar buys 158.25 yen, down 0.2207 (yen stronger), and 1,340.0 won, up 0.4272 (won weaker). For the same barrel of Brent-priced crude, a Japanese refiner paying with a stronger yen sees a cheaper bill, a Korean refiner paying with a weaker won sees a dearer one. The two refiners' cost competitiveness re-ranks, and delivered discounts on import cargoes shift with it.

For SNSUC's seven transfer grades — ESPO, Dubai, Oman, Urals, Basrah Light, Bonny Light and Lula — currency divergence says delivered pricing cannot watch the dollar alone. Selling the same cargo to Japanese and Korean buyers, the realized gap in local-currency settlement can eat half a dollar per barrel of margin, so all three currencies must be pinned into the pricing model together.