Brent settled at $111.01/bbl and WTI at $100.03/bbl, both printing gains. The transatlantic spread closed at $10.975, roughly $0.18 tighter than the prior session's $11.16. For SNSUC's seven transshipment grades — ESPO, Dubai, Oman, Urals, Basrah Light, Bonny Light and Lula — every $0.10 move in that spread shifts the landed and duty-paid quote by one notch.

Discount grades are quoted as Dated Brent minus a discount, so a tighter spread compresses the landed advantage of West African and US Gulf cargoes. Urals stays pinned at the $60 cap, and the gap to Brent remains wide, which actually fattens the transshipment window. On the desk, refresh the seven-grade landed model before opening any letter of credit today, and reprice STS deliveries at Sohar and Fujairah against the new spread so quotes do not lag the screen.