The currency board moved together today: the yuan and the won both firmed. USD/CNY fell to 6.6821, the yuan up 479 pips against the dollar; USD/KRW eased to 1,331.0, the won up 25.85 pips. The yen held near 158.12 and EUR/USD bounced to 1.123.

For SNSUC's delivered model, the local-currency leg is the final line. Crude is priced in dollars, but refinery payments, bonded storage, and downstream invoicing all run in yuan. A roughly 0.7% yuan gain shaves the delivered yuan cost of the same dollar cargo directly — and a take settled in yuan looks better still.

A stronger won — USD/KRW down 25.85 pips — trims the won cost of Korean buyers' dollar cargoes, so procurement appetite in Busan and Ulsan is not currency-pressed near term. The yen held near 158.12; Japanese delivered prices barely moved. EUR/USD bounced to 1.123, lowering the dollar cost of euro-denominated North Sea supply, while Brazil's Lula, quoted in dollars, feels that move only indirectly.

Our routine is a full multicurrency delivered matrix recomputed at the open each day, feeding Brent and WTI absolute prices together with six exchange rates, then outputting net yuan, won, and yen prices per discharge port. The desk reads which line is cheapest that day instead of doing mental cross-rate math.