Brent settled at $97.853 and WTI at $90.238, leaving the transatlantic spread at $7.615 — another $0.60 tighter than the $8.222 seen on 6 November. Two straight sessions of convergence point to slower Cushing drawdowns and a recovery in North Sea loadings, which is shrinking the WTI discount to Brent.

For the seven crude grades SNSUC handles in its transit trade — ESPO, Dubai, Oman, Urals, Basrah Light, Bonny Light and Lula — delivered cost is rebuilt each session from discount plus freight plus FX. Brent anchors most Middle East and West African cargoes; WTI leads the Americas. When the spread narrows, dollar delivered cost for Middle East and West African grades looks cheaper relative to US Gulf cargoes, so the transit window tilts toward Brent-priced grades such as ESPO, Oman and Basrah Light.

USD/CNY at 6.6763 has drifted slightly weaker over the week. The FX leg must be isolated when converting to RMB delivered cost. SNSUC keeps load port plus routing tier on every quotation sheet rather than a vague Middle East crude label — the narrowing spread does not change that rule.