Brent up 1.03% to $101.24/bbl; WTI up 1.00% to $89.17/bbl; fuel oil up 0.36% to ¥4,434/mt; asphalt down 3.50% to ¥5,013/mt. Heavy-oil chain divergence deepens: N500 base oil–fuel oil spread widens to ¥1,280/mt (vs. historical norm of ¥600–900/mt), confirming arbitrage window open. SNSUC’s transshipment clients can lock in Middle East N500 cargoes now—CIF cost 11% below domestic spot.