Brent settled at $104.61/bbl on Sep 11, retreating 2.8% from the Sep 10 peak of $107.63 (+8.7% on the week). SOMO's September Asia OSP held at Basrah Medium -$4.00 and Heavy -$7.30 to Oman/Dubai. Hormuz transits dropped to ~7 vessels/day; Houthis now control both Bab al-Mandeb lanes and Saudi suspended its East-West bypass, keeping war-risk premiums elevated.

Brent eased to about $103.5 on Friday after an intraday high of $108 on Thursday, up over 7% on the week. SOMO set September Asia OSP at -$4.00 (Medium) and -$7.30 (Heavy) to Oman/Dubai, tighter than August. Both Hormuz and Bab el-Mandeb are stressed, keeping delivered net cost deeply discounted but logistics premiums surging.

SOMO set September Asia OSP for Basrah Medium at −$4.00 (was −$6.50) and Heavy at −$7.30 (was −$8.80) vs Oman/Dubai; Hormuz transits fell to ~10 vessels/day (lowest since May) while Brent settled $107.63 and WTI $102.48 on a widening geopolitical risk premium.

Escalating US-Iran conflict and Hormuz disruptions drove Brent +3.36% to $101.21/bbl on Sep 9 — its first triple-digit close since July — with WTI at $96.05. Iraq's SOMO set September Asia OSP at Basrah Medium -$4.00 and Heavy -$7.30 (sharply higher vs August). Beyond OSP, SOMO's rare spot tender plus Gulf of Oman STS premiums are reshaping the net-to-arrive differential.

Crude surged on Sep 8: Brent briefly topped $98/bbl (Saudi facilities hit, Houthi deep-strike threats) and WTI rose >2% above $93. SOMO lifted Sep Asia OSP differentials — Basrah Medium -$4.00, Heavy -$7.30 vs Oman/Dubai. We break down the net-back in three layers.

Debunks the '18/bbl' rumor (July heavy legacy); Sept Asia OSP Medium -4.00, Heavy -7.30; with spot discount and load premium, net FOB lands ~-29 to -35/bbl. Quote in three layers.