The Brent–WTI spread closed at $12.00 a barrel, about a dollar wider than a week ago. The wider gap adds per-barrel headroom inside back-to-back LCs, but war-risk premium is still baked in.

Cross-border RMB settlement for bonded bunker and aviation turbine fuel moves from pilot to routine, giving resale chains a local-currency clearing lane and partial RMB back-to-back LCs.