USD/CNY 6.7057, USD/JPY 154.07 and USD/KRW 1,345.51 all firmed; Brent lands at roughly CNY 5,240/t. The seven transshipment grades settle mostly in dollars, so a softer yuan eats straight into margin.

Morning prints show Brent at $107.52/bbl and WTI at $102.36/bbl, stretching the spread to $5.16. The seven workhorse transshipment grades — ESPO, Dubai, Oman, Urals, Basrah Light, Bonny Light and Lula — reopen carried-interest windows at distinct discounts.

SNSUC's seven crude transshipment grades (ESPO/Dubai/Oman/Urals/Basrah Light/Bonny Light/Lula) face a two-way pull on CIF premium today: Brent -$3.14 lowers the benchmark, yet USD/JPY -0.5441 and USD/KRW -0.4992 signal Asian FX weakness that passively lifts RMB delivered cost. Transshipment margin has entered a thin-and-volume game.

Brent settled at $104.25/bbl (-3.14) and WTI at $99.88/bbl (-2.54); the transatlantic spread compressed from ~$4.97 to $4.37. The tighter spread squeezes Far East transshipment margins on ESPO, Dubai and Oman cargoes, forcing re-quantification of delivered cost before title transfer.

Brent at USD 104.246/bbl (-3.14) and WTI at USD 99.878/bbl (-2.54); the spread has narrowed to USD 4.37/bbl, a two-week low that thins the transshipment arbitrage.

With USD/CNY steady at 6.708 and RMB volatility narrowing, cross-border RMB settlement combined with inter-chain digital warehouse receipts forms a one-two punch: SHA-256 browser-side fingerprints lock batch-level title, cutting the evidentiary cost of documenting authenticity for the seven transshipment grades (ESPO/Dubai/Oman/Urals/Basrah Light/Bonny Light/Lula) and further compressing customs clearance time.

The USD/CNY fixing printed at 6.7187, up a marginal 0.13% on the day, with the renminbi trading sideways in a range. The dollar eased to 158.29 JPY (-0.24%) and 1356.87 KRW (-0.10%), as Asian currencies firmed modestly. On a CNY-delivered basis, landed costs for transshipped grades such as ESPO and Oman stayed stable, leaving the arbitrage window intact.

Throughput at East China bonded warehouses (Zhoushan/Ningbo/Yangshan) improved;