SOMO holds November Asia OSP at Basrah Medium -2.80 and Heavy -5.80 USD/bbl; with spot rebates, net-to-arrival discounts reach ~-37.30 (Medium) and ~-42.80 (Heavy) vs Oman/Dubai. Brent front-month eased to 113.88 (-1.7%) on 28 Oct as Hormuz diplomacy stalled and risk premium stayed elevated.

Oct 27 settle Brent 113.88 (-1.67%), WTI 99.90 (-1.83%, below $100); four-nation (Iran–Saudi–Turkey–Pakistan) security talks signal diplomatic easing, crude risk premium retreats. SOMO Nov Asia OSP Medium -2.80 / Heavy -5.80 (deeper than Oct), spot dark discount Medium -34.50 / Heavy -37.00 (FOB).

SOMO set November Asia OSP at Basrah Medium -2.80 and Heavy -5.80 USD/bbl (announced Oct 8, following Saudi's market-share defense). Spot FOB dark discounts: Medium -34.50, Heavy -37.00. Net delivered discounts ≈ -37.3 (Medium) / -42.8 (Heavy) USD/bbl. On Oct 27 Brent pulled back from a six-month high to 115.81 USD (-0.78%), yet Hormuz saw 12 attacks last week and war-risk premium hit 10% of cargo value.

SOMO set the November Asia OSP: Basrah Medium at -2.80/bbl and Heavy at -5.80/bbl to Oman/Dubai, deeper than October (0.00/-3.30), following Saudi's market-share defense. Recent loading cargoes show FOB spot dark discounts of ~-34.50 (Medium) and ~-37.00 (Heavy). Hormuz transit runs ~82% of pre-war (~11.7 mb/d) with attacks still elevated and war-risk hull premium held at 6%–10%.

SOMO set its December OSP to Asia sharply higher versus November (Medium -0.35, Heavy -3.10), reversing last month's Saudi-following cut. The same night IRGC reported 7 tankers struck or mined - the worst single-day toll since Feb 28 - sending Brent to 113.17, a five-month high. Buyers' net delivered cost is still dragged by freight plus war risk (~$21-26/bbl transit friction), so procurement should anchor on net delivered price, not OSP list.

On Oct 21, Brent front-month settled at $108.82/bbl (flat, +0.03%) and WTI at $97.15/bbl (-0.68%). SOMO set November Asia OSP for Basrah Medium at -2.80 and Heavy at -5.80 to Oman/Dubai, a sharp deepening from October. Recent-loading cargoes show FOB spot dark discounts of ~-34.50 (Medium) and ~-37.00 (Heavy). On Oct 21 two more tankers were struck near Hormuz; IEA says Gulf shipping costs have hit $37/bbl, 5x pre-war.

Iraq's SOMO set November Asia OSP: Basrah Medium at -2.80/bbl to Oman/Dubai (flat in Oct), Heavy widened to -5.80/bbl (Oct -3.30), following Saudi's market-share defense. Recent loading cargoes show FOB spot dark discounts of ~-34.50 (Medium) and ~-37.00 (Heavy). Hormuz transit remains ~70% below pre-war; war-risk hull premium 6%–10%, single-VLCC surcharge up to $20M. Chinese independents continue locking 12–20 mb of Basrah Medium/Heavy and Al-Shaheen for Oct–Nov to replace lost Iranian barrels.

Iraq's SOMO set November Asian OSP: Basrah Medium at -$2.80 and Heavy at -$5.80 vs benchmark, sharply deeper than October to defend share; with Hormuz war-risk premia (hull 6%–10%, up to $20M附加 per VLCC) and strait flows at 68%–76% of pre-conflict, Brent holds near last week's highs. Chinese independents have locked 12–15 mb of Basrah Medium/Heavy and Al-Shaheen for Oct–Nov to replace lost Iranian volumes.

SOMO's November Asia OSP turns Basrah Medium to a 2.80 discount and widens Heavy to 5.80 vs benchmark, tracking Saudi share defence; Brent/WTI eased on Oct 18 after the Oct 17 spike, yet Hormuz throughput stays ~68% of pre-conflict and war-risk premia hold at 6%–10% hull.

SOMO set November Basrah Medium/Heavy OSP to Asia at -2.80/-5.80 vs Oman/Dubai, a sharp cut from October's 0.00/-3.30, tracking Saudi's market-share defence; Brent settled 109.86 (+3.72%), WTI 101.41 (+3.51%), with an intraday 110 for the first time since May and +75% YTD; on 17 Oct IRGC confirmed a second VLCC struck a mine and caught fire in Hormuz, Kpler shows flows at 68% of pre-war, war-risk premia holding at 5-10% of hull.

SOMO set November Basrah Medium/Heavy OSP to Asia at -2.80/-5.80 vs Oman/Dubai, a sharp cut from October's 0.00/-3.30, tracking Saudi's market-share defence; Brent settled 106.65 (+1.84%), WTI 93.74 (+2.06%); Iran reaffirms Hormuz won't return to normal, at least 6 vessels struck, war-risk premia at 7.5-10% of hull.