Brent at 113.498 and WTI at 102.908 push the spread 1.88 dollars wider than October 30; the two legs of delivered cost desynchronize.

Brent settles at $109.94 and WTI at $100.92, pushing the transatlantic spread back above $9. The delivered-and-dutied cost of the seven transshipment grades — ESPO, Dubai, Oman, Urals, Basrah Light, Bonny Light, Lula — edges higher in lockstep, and the window to lock forward FX tightens.

Brent settled at USD 112.10/bbl, +3.17%, and WTI at 103.49, +4.04%, but the onshore RMB rate firmed to 6.6704 (roughly +0.6%), shaving most of the dollar gain. Under SNSUC's pricing formula (Brent x FX x 7.33 x grade), the RMB-denominated landed cost of Brent rose only about 2.5%, so the import window stays open.

Across SNSUC's 13 tracked categories the petrochemical complex rallied broadly today but in clear tiers: Brent/WTI around +3%, fuel oil at 5,349 RMB/t leading with +6.38%, bitumen 4,766 +3.61%, and natural rubber just +0.43%. The tiering reflects distinct fundamentals, not noise.

WTI gained 4.04% against Brent's 3.17%, pulling the transatlantic spread back to $8.61. US Gulf export discounts and ESPO/Lula delivered costs into China shift, forcing a repricing of transshipment hedges.

Brent-WTI spread reached $13.54/bbl today, forcing a repricing of the seven transshipment grades' delivered quotes while downstream cracks still hold.

NR and BR both fall, yet the spread widens; channel inventory stalls price transmission.