FX split three ways today: the RMB firmed to 6.6704 and the won strengthened to 1,323.2, while the euro weakened to 7.469 vs RMB and 1.1202 vs USD. The same dollar-priced barrel costs Asian (CNY/KRW) buyers less than European (EUR) buyers, tilting the bidding for ESPO and Lula cargoes toward Northeast Asia.

China issued the Trial Guidelines for Petroleum Product Carbon Footprint Accounting, pushing Scope 3 accounting from wellhead to ex-works to the production side. SNSUC's DCS+ platform has already been adapted to the guideline; refiners' carbon cost shifts from a year-end line item to a metered, disclosable, tradeable burden.