AG & GULF PLATTS 11 April 2024 FULL

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Asia-Pacific/Arab Gulf Marketscan

Volume 43 / Issue 70 / April 11, 2024
Asia products
Code Mid Change Code Mid Change Code Mid Change
Singapore (PGA page 2002)
FOB Singapore ($/barrel) MOPS strip Premium/Discount
Naphtha PAAAP00 75.37–75.41 75.390 +0.270 AAPKA00 74.41–74.45 74.430 +0.260
Gasoline 97 unleaded PGAMS00 108.39–108.43 108.410 +1.350 AAPKE00* 33.96/34.00 33.980 +1.090
Gasoline 95 unleaded PGAEZ00 107.77–107.81 107.790 +1.360 AAPKF00* 33.34/33.38 33.360 +1.100
Gasoline 95 unleaded AGUMS00 107.040 +1.370 AGUMA00**** 0.750 -0.010
Gasoline 92 unleaded PGAEY00 103.36–103.40 103.380 +1.410 AAPKG00* 28.93/28.97 28.950 +1.150
Gasoline 92 unleaded AAXEQ00 102.50–102.54 102.520 +1.370 AAXER00 0.84/0.88 0.860 +0.040
Gasoline 91 unleaded AAYNA00 105.620 +1.470 AAYNB00 3.100 +0.100
Gasoline 92 unleaded 500 ppm PGAFY00*** 1.089 +0.043
CFR Naphtha AAOVF00 77.630 +0.510 AAOVG00 3.200 +0.250
Kerosene PJABF00 105.88–105.92 105.900 -0.570 AAPJZ00 106.10–106.14 106.120 -0.470 PJACU00 -0.24/-0.20 -0.220 -0.100
Gasoil 10 ppm AAOVC00 108.12–108.16 108.140 -0.240 AAOVD00** -0.11/-0.07 -0.090 +0.040
Gasoil 50 ppm AAPPF00 107.74–107.78 107.760 -0.240 AAPPH00** -0.49/-0.45 -0.470 +0.040
Gasoil 0.05% sulfur AAFEX00 107.02–107.06 107.040 -0.340 AAFFB00** -1.21/-1.17 -1.190 -0.060
Gasoil 0.25% sulfur AACUE00 104.89–104.93 104.910 -0.330 AACQI00** -3.34/-3.30 -3.320 -0.050
Gasoil POABC00 108.12–108.16 108.140 -0.240 AAPJY00 108.21–108.25 108.230 -0.280 POAIC00** -0.11/-0.07 -0.090 +0.040
FO 180 CST 2% ($/mt) PUAXS00 516.60–516.64 516.620 -1.650
HSFO 180 CST ($/mt) PUADV00 505.23–505.27 505.250 -1.620 AAPJX00 509.23–509.27 509.250 -1.370 AAGZF00 -4.02/-3.98 -4.000 -0.250
HSFO 380 CST ($/mt) PPXDK00 489.79–489.83 489.810 -2.090 AAPJW00 491.79–491.83 491.810 -2.090 PPXDL00 -2.02/-1.98 -2.000 0.000
Marine Fuel 0.5% ($/mt) AMFSA00 631.850 -1.040 FOFSA00 632.990 -0.270 FOFSB00 -1.140 -0.770
Ex-Wharf 380 CST ($/mt) AAFER00 492.50–493.50 493.000 -2.000
Ex-Wharf 500 CST ($/mt) AAVUP00 487.50–488.50 488.000 -2.000
Bitumen Pen 60-70 ($/mt) BTSGA00 410.000 0.000 BTSGB00***** -81.810 +2.090
*Differential to FOB Singapore naphtha. **Differential to FOB Singapore gasoil. The “Gasoil” assessment reflects 10 ppm sulfur from January 2, 2018. ***Indicates relationship between premium/discount and MOPS gasoline 92 strip.
****Differential to FOB Singapore gasoline 95 unleaded. *****Indicates relationship between premium/discount and HSFO 380 CST MOPS Strip.
Middle East physical oil assessments (PGA pages 2004 and 2018)
FOB Arab Gulf ($/barrel) Premium/Discount
Market Commentary
Naphtha ($/mt) PAAAA00 653.84–657.59 655.715 +5.550 AAPKH00 31.25/31.75 31.500 -2.000
Naphtha LR2 ($/mt) 664.29–668.04 666.165 +3.420
Platts US Renewable Distillates Monthly
AAIDA00
Gasoline 95 unleaded AAICY00 103.65–103.69 103.670 +1.680 AAWUJ00 8.28/8.32 8.300 0.000
Gasoline 95 unleaded CFR AAWUK00 9.98/10.02 10.000 Commentary
Gasoline 92 unleaded AAGJA00 99.260 +1.730 AAGZA00 8.100 0.000
Kerosene PJAAA00 102.07–102.11 102.090 -0.390 PJACV00 3.58/3.62 3.600 +0.200
Gasoil 10 ppm AAIDT00 104.08–104.12 104.100 -0.050 AAIDU00* 2.57/2.61 2.590 +0.100
US renewable distillate markets fall in March
Gasoil 0.005% sulfur 103.61–103.65 103.630 -0.050 2.10/2.14 2.120 +0.100
AASGJ00 AASGK00*
Biofuel groups adapt to SAF expected growth on
Gasoil 0.05% sulfur AAFEZ00 103.28–103.32 103.300 +0.160 AAFFD00* 1.77/1.81 1.790 +0.310
Gasoil 0.25% sulfur AACUA00 101.24–101.28 101.260 +0.050 AACUC00* -0.27/-0.23 -0.250 +0.200 demand and supply
Gasoil POAAT00 104.08–104.12 104.100 -0.050 POAID00* 2.57/2.61 2.590 +0.100
HSFO 180 CST ($/mt) PUABE00 479.07–479.11 479.090 -1.550 AAXJA00 11.98/12.02 12.000 0.000 GREET model updates experience delays
HSFO 380 CST ($/mt) AAIDC00 463.63–463.67 463.650 -2.020 AAXJB00 13.98/14.02 14.000 0.000
HSFO 380/180 spread ($/mt) PPXDM00 -15.46/-15.42 -15.440 -0.470
Marine Fuel 0.5% Fujairah ($/mt) FOFFB00*** 0.000 0.000 US renewable distillate markets weakened in March
Ex-Wharf Fujairah 380 CST** ($/mt) AAYBG00 4.800 -4.200 amid thin demand and lower feedstock prices.
*Premium to MOPAG gasoil during loading. **Ex-Wharf differential represents premium/discount to the MOPAG 180 CST strip. ***MF 0.5% differential The cost of production for US West Coast
represents premium/discount to the MOPFUJ MF 0.5% strip.
Sustainable Aviation Fuel with credits fell 24.07 cents/
www.spglobal.com/commodityinsights
Asia-Pacific/Arab Gulf Marketscan April 11, 2024
Asia products gal, or 5.2%, to $4.3832/gal from March 11 to April

Code Mid Change Code Mid Change
10. Meanwhile, prices for packer-grade beef tallow
Middle East physical oil assessments (PGA pages 2004 and 2018) delivered in Chicago fell 0.50-cent to 42 cents/lb.
FOB Fujairah ($/barrel) MOPAG Strip US West Coast renewable diesel with credits fell
Naphtha ($/mt) NFJSA00 676.480 -4.390 NFJTA00 644.980 -2.390 17.16 cents/lb, or 3.8%, to $4.3990/gal, closely following
Gasoline 95 unleaded AFUJA00 110.920 +1.680 AFUJB00 102.620 +1.680
Gasoline 92 unleaded RFJFS00 106.150 +1.680 RAGTA00 98.050 +1.680 the downward movement in the cost of production
Kerosene AFUJF00 105.400 -0.580 AFUJG00 101.800 -0.780 for US West Coast sustainable aviation fuel, driven
Gasoil 10 ppm AFUJP00 106.010 -0.640
Gasoil 500 ppm AFUJN00 105.210 -0.430 primarily by lower feedstock markets.
Gasoil AFUJK00 106.010 -0.640 AFUJL00 103.420 -0.740 Renewable distillate markets have remained under
HSFO 380 CST ($/mt) AFUJQ00 483.170 -3.090 AFUJR00 469.170 -3.090
Ex-Wharf 380 CST ($/mt) AAYBF00 488.000 -3.000 AAYBD00 483.200 +1.200 pressure to start the year, as the US economic outlook
MOPFUJ Strip remains uncertain amid stubborn interest rates and
Marine Fuel 0.5% ($/mt)** AMFFA00 633.360 -5.390 FOFFA00 633.360 -5.390 plans of production expansion.
*FOB Fujairah outright prices are derived by adding the MOPAG strips and the FOB Arab Gulf premiums/discounts.
**FOB Fujairah Marine Fuel 0.5% outright prices are derived by adding the MOPFUJ strip and the MF 0.5% Fujairah premiums/discounts.
Gasoline components (PBF page 2410) Weekly Fujairah oil product stocks
FOB Singapore ($/mt) Code (‘000 barrels) Change
MTBE PHALF00 1011.50–1013.50 1012.500 +13.500
Apr 08 (PGA page 2022)
Singapore demurrage (PGT pages 2910 and 2960) Light distillates FUJLD04 7814 +250
$/day Middle distillates FUJMD04 4019 +660
Demurrage Clean AALPY00 40000.000 0.000 Heavy distillates and residues FUJHD04 8717 -629
Demurrage Dirty AALQA00 44000.000 0.000 Source: FEDCom, S&P Global Commodity Insights
Singapore paper (PGA page 2655)
Balance April ($/barrel) May ($/barrel) June ($/barrel)

Naphtha Japan ($/mt) RAXFM00 711.250 +4.500 AAXFE00 705.50–706.00 705.750 +4.500 AAXFF00 700.00–700.50 700.250 +4.500
Naphtha AAPLD00 74.73–74.77 74.750 +0.300 PAAAQ00 74.13–74.17 74.150 +0.300 PAAAR00 73.53–73.57 73.550 +0.300
Gasoline 95 unleaded AGUMB00 107.620 +1.450 AGUMM01 106.530 +1.410 AGUMM02 105.110 +1.220
Gasoline 92 unleaded AAXEK00 103.15–103.19 103.170 +1.450 AAXEL00 101.93–101.97 101.950 +1.430 AAXEM00 100.45–100.49 100.470 +1.230
Reforming Spread AAXEN00 28.40/28.44 28.420 +1.150 AAXEO00 27.78/27.82 27.800 +1.130 AAXEP00 26.90/26.94 26.920 +0.930
Kerosene AAPLE00 105.86–105.90 105.880 -0.570 PJABS00 106.31–106.35 106.330 -0.420 PJABT00 106.31–106.35 106.330 -0.300
Gasoil AAPLF00 108.26–108.30 108.280 -0.240 POAFC00 108.16–108.20 108.180 -0.320 POAFG00 107.82–107.86 107.840 -0.340
HSFO 180 CST ($/mt) AAPML00 506.72–506.76 506.740 -2.210 PUAXZ00 511.47–511.51 511.490 -1.010 PUAYF00 510.62–510.66 510.640 -1.310
HSFO 380 CST ($/mt) AAPKB00 490.47–490.51 490.490 -2.210 AAPKC00 492.97–493.01 492.990 -2.260 AAPKD00 493.42–493.46 493.440 -2.010
Gasoil EFS ($/mt) AAQTX00 -29.310 +16.220 AAQTY00 -29.060 +4.120 AAQTZ00 -27.840 +1.220
Arab Gulf Front Month Swaps (PGA page 2638)
Balance April* ($/barrel) May ($/barrel) June ($/barrel)

Naphtha ($/mt) NAGFM00 658.570 +5.030 NAGFM01 644.520 -0.840 NAGFM02 641.420 +0.220
Gasoline 95 unleaded AFUIM00 103.500 +1.770 AFUIM01 102.410 +1.730 AFUIM02 100.990 +1.540
Gasoline 92 unleaded RAGFM00 99.050 +1.770 RAGFM01 97.830 +1.750 RAGFM02 96.350 +1.550
Kerosene AFUAM00 101.960 -0.540 AFUAM01 101.820 -0.790 AFUAM02 101.990 -0.590
Gasoil AFUJM00 104.130 -0.200 AFUJM01 103.400 -0.710 AFUJM02 103.230 -0.660
HSFO 180 CST** AADZB00 479.750 -2.250 AADZM01 484.000 -1.000 AADZM02 485.000 -1.250
HSFO 380 CST AFURM00 467.500 -3.250 AFURM01 469.500 -3.250 AFURM02 471.750 -3.000
*Balance month swaps are assessed from the 1st to 10th of the month. **At 1730 Singapore time.
© 2024 by S&P Global Inc. All rights reserved. 2

Asia products In market news, New Rise Renewables announced

April 9 that the Nevada renewable diesel plant will
Japan physical oil assessments (PGA page 2006) convert into a SAF facility with a capacity of 3,200 b/d
C+F Japan ($/mt) Premium/Discount to start summer 2024.
Naphtha (min 70%) NCJCA00 709.125 +2.750 NCJCB00 8.000 -2.000
According to forecasts from S&P Global Commodity
Naphtha PAAAD00 707.25–711.00 709.125 +2.750 PAADI00 7.75/8.25 8.000 -2.000
Nph 2nd 1/2 May PAAAE00 714.25–714.75 714.500 +2.000 Insights, both SAF supply and demand are expected
Nph 1st 1/2 Jun PAAAF00 710.50–711.00 710.750 +2.500 to grow in 2024 and 2025, and demand is expected to
Nph 2nd 1/2 Jun PAAAG00 707.25–707.75 707.500 +3.000
Naphtha MOPJ Strip AAXFH00 700.00–700.50 700.250 +4.500 AAXFI00 8.63/9.13 8.880 -1.750 outpace supply as obstacles surrounding production
C+F Japan ($/barrel) Premium/Discount scalability continue to be a concern.
Gasoline 91-92 unleaded PGACW00 107.54–107.58 107.560 +1.360 Elsewhere, Japan’s JX Nippon Oil & Gas Exploration
Gasoline 95 unleaded PGAQQ00 111.95–111.99 111.970 +1.310
Kerosene PJAAN00 107.93–107.97 107.950 -0.370 PAADK00 1.81/1.85 1.830 +0.100 agreed to team up with Sumitomo at the Louisiana
FOB Japan ($/barrel) Premium/Discount Green Fuels project slated to start commercial
Gasoil POJAP00 106.630 -0.280 POJBP00 -1.600 0.000 production in 2029 to produce 32 million gallon/year of
South Korea physical oil assessments (PGA page 2008) SAF and renewable naphtha, the company announced
C+F Korea ($/mt) Premium/Discount April 9.
Naphtha PAADE00 713.88–714.38 714.130 -0.250 PAADG00 4.75/5.25 5.000 -3.000 US Energy Information Administration data released
C+F East Asia ($/mt) Premium/Discount March 29, showed 99% of renewable diesel transported
Naphtha** CFRCT00 712.125 +0.750 CFRCD00 3.000 -2.000
by rail in January was destined for the west coast. This
FOB Korea ($/barrel) Premium/Discount
Gasoline 95 unleaded PGAQO00 106.81–106.85 106.830 +1.350
distribution pattern has mainly been driven by the fact
Jet PJADG00 105.10–105.14 105.120 -0.370 PJADI00 -1.02/-0.98 -1.000 +0.100 that California, Oregon and Washington are the only
Gasoil POAIE00 106.71–106.75 106.730 -0.280 POAIG00 -1.52/-1.48 -1.500 0.000
Bitumen Pen 60-80 ($/mt) BTKRA00 400.000 0.000 BTKRB00* -91.810 +2.090
states with active clean fuel programs that incentivize
*Indicates relationship between premium/discount and HSFO 380 CST MOPS Strip. **All-origin naphtha from commercial tanks.
the consumption of renewable diesel.
Official guidance on the use of the GREET model for
Mean of Platts West India netbacks (PGA page 2012)
SAF feedstocks has yet to be announced, but a final
FOB India ($/mt) FOB India ($/barrel)
Naphtha AAQWK00 667.090 +6.900 AAQWJ00 74.120 +0.770
word is expected sooner rather than later after weeks
Gasoline (92 RON) AARBQ00 851.790 +14.200 AARBP00 100.210 +1.670 of delays. Farm and biofuels groups have joined forces
Gasoline (95 RON) AAQWI00 889.280 +13.780 AAQWH00 104.620 +1.620
urging the Biden administration to quickly resolve
Jet kero AAQWM00 809.670 -2.280 AAQWL00 102.490 -0.290
Gasoil 10 ppm AAQWO00 778.700 +0.430 AAQWN00 104.520 +0.050 questions around ethanol’s eligibility as a feedstock for
Gasoil 500 ppm AAQWQ00 770.510 -0.310 AAQWP00 103.420 -0.050 SAF tax credits.
Gasoil 2500 ppm AAQWS00 754.640 -0.240 AAQWR00 101.290 -0.040
“We are working expeditiously to release an
Australia (PGA page 2014)
updated GREET model that reflects the latest data
C+F Australia ($/barrel) and science, including new model runs specific to key
Gasoline 92 AACZF00 109.98–110.02 110.000 +1.350
Gasoline 95 AACZH00 114.39–114.43 114.410 +1.300 feedstocks and processes for use in aviation fuel,” the
Jet AAFIY00 113.00–113.04 113.020 -0.630 White House spokesperson said March 1.
Gasoil 10 ppm AAQUD00 115.67–115.71 115.690 -0.310
During the California Low Carbon Fuel public
South Africa (PGA pages 2342 and 2412) workshop held April 10, the California Air Resources
CFR South Africa ($/barrel) Board discussed possible changes to regulation, which
Gasoline 95 unleaded AAQWW00 116.581 +1.146
Jet kero AAQWT00 111.491 -1.155
included talk of less stringent and more stringent
Gasoil 10 ppm AAQWU00 112.469 -1.249 carbon intensity levels in the state.
Gasoil 500 ppm AAQWV00 111.669 -1.039

Asia products Renewable fuels (PGA pages 1414, 483 and 2414)
Code Mid Change Code Mid Change Change
Freight netbacks (PGA pages PGT2910 and PGT2960) Northwest Europe ($/mt)
SAF Cost of Production BJNWA00 2082.916 +5.553
AG-Spore Spore-Japan AG-Japan Spore-Australia SAF CIF ARA MIRWD00 2870.500 +2.250
Naphtha AAPOF00 35.57* AAPOG00 53.41* SAF CIF ARA Premium MIRWF00 2000.000 0.000
Naphtha-LR2 AAPOH00 42.96* HVO HVNWA00 1913.389 +4.291
Gasoline AAPOC00 4.12 AAPOD00 4.18 AAPOE00 6.62
USWC ($/mt)
Kerosene AAPOI00 3.81 AAPOJ00 7.12
SAF Cost of Production w/ credits ASAFA00 1493.236 +2.948
Gasoil AAPOL00 4.04 AAPOM00 7.55
SAF Cost of Production w/o credits ASAFB00 605.003 +15.610
HSFO 180 CST AAPOO00 26.16* AAPOP00 20.65*
RD w/ credits ARDFA00 1455.205 +1.702
HSFO 380 CST AAPOQ00 26.16*
RD w/o credits ARDFB00 687.445 +15.513
All values in $/barrel, except * values in $/mt.
USWC ($/b)
South China/Hong Kong physical oil assessments (PGA page 2010) SAF Cost of Production w/ credits ASAFE00 184.459 +0.365

South China ($/mt)
Premium/Discount to MOPS ($/barrel) SAF Cost of Production w/o credits ASAFF00 74.736 +1.929
RD w/ credits ARDFE00 180.291 +0.211
Gasoline 92 unleaded AAICW00 881.00–885.00 883.000 +12.500
RD w/o credits ARDFF00 85.170 +1.922
Jet/kero PJABQ00 852.50–856.50 854.500 -2.750 AAWTW00 2.02/2.06 2.040 +0.100
USWC (¢/gal)
Gasoil POAFA00 811.25–815.25 813.250 -2.000 AABJZ00 0.90/0.94 0.920 0.000
SAF Cost of Production w/ credits ASAFI00 439.187 +0.867

Hong Kong bunker grades ($/mt) SAF Cost of Production w/o credits ASAFJ00 177.942 +4.591
HSFO 380 CST PUAER00 512.00–513.00 512.500 +2.500 RD w/ credits ARDFI00 429.264 +0.502
RD w/o credits ARDFJ00 202.786 +4.576
*C+F Hong Kong, $/barrel premium/discount to Mean of Platts Singapore.
Southeast Asia ($/mt)
SAF Cost of Production (PFAD) ASFAA00 1519.600 +1.080
HVO (PFAD) HVSAB00 1409.770 +0.950
Marine Fuel (PGA page 30) North Asia ($/mt)
$/mt Change vs FO 380 MOPS strip Change SAF Cost of Production (UCO) ASFAC00 1672.650 +2.100
0.5% FOB Singapore cargo AMFSA00 631.850 -1.040 AMOPA00 140.040 +1.050 HVO (UCO) HVNAA00 1550.380 +1.620
0.5% FOB Fujairah cargo AMFFA00 633.360 -5.390
0.5% FOB Rotterdam barge PUMFD00 602.000 +5.000
0.5% FOB US Gulf Coast barge AUGMB00 607.250 -6.750 Jet Index (PGA page 115)
0.5% Dlvd US Atlantic Coast barge AUAMB00 638.500 -6.000
Index $/barrel
0.5% FOB Mediterranean cargo MFFMM00 604.500 +6.250
Asia & Oceania PJASO00 304.80 PJASO08 106.68
0.5% CIF Mediterranean cargo MFCMM00 615.250 +6.250
Mid East & Africa PJMEA00 316.24 PJMEA08 105.90
$/barrel Change
Global PJGLO00 301.00 PJGLO08 110.11
0.5% FOB US Gulf Coast barge AUGMA00 95.630 -1.060
0.5% Dlvd US Atlantic Coast barge AUAMA00 100.550 -0.950
Marine Fuel 0.5% Derivatives, Apr 11 Foreign exchange rates (PGA page 2160)
Balance* Change Month 1 Change Month 2 Change USD/JPY AAWFX00 153.215 +1.310
Eur/USD AAWFU00 1.0746 -0.0109
Apr May Jun
USD/SGD AAWFZ00 1.3535 +0.0063
$/mt $/mt $/mt USD/MYR AAWGA00 4.7480 -0.0035
0.5% FOB Singapore cargo FOFS000 633.250 -0.250 FOFS001 632.750 -0.250 FOFS002 630.050 -0.200 USD/HKD AAWFY00 7.8353 +0.0039
0.5% FOB Fujairah cargo FOFF000 634.250 -5.250 FOFF001 633.250 -5.250 FOFF002 632.500 -5.000 AUD/USD AAWFT00 0.6526 -0.0080
0.5% FOB Rotterdam barge AMRAB00 598.250 +6.500 AMRAM01 592.750 +6.750 AMRAM02 586.500 +6.500 USD/INR AAFGW00 83.3930 +0.1563
0.5% vs. 3.5% FOB Rotterdam barge AMRBB00 124.250 +0.500 AMRBM01 113.250 +0.750 AMRBM02 102.500 +1.250 USD/CNY* AAWFW00 7.0968 +0.0012
$/barrel $/barrel $/barrel *Source: Bank of China
0.5% FOB US Gulf Coast barge AMARB00 95.800 -1.000 AMARM01 95.400 -0.450 AMARM02 94.500 -0.500
0.5% vs US Gulf Coast HSFO barge AUSBB00 24.550 -0.350 AUSBM01 22.650 0.000 AUSBM02 20.850 -0.050
*Balance month swaps are assessed from the 1st through the 20th of the month; Asia swaps are assessed through the 14th of February.

Platts Asia and Middle Eastern Gasoline Carbon Intensity (PGA page 4207)
Daily Carbon Intensity Premium Monthly Carbon Intensity
Daily Market Analysis
Asia $/bbl Date kgCO2e/bbl
Saudi’s SASREF refinery planning partial works Gasoline Unl 92 FOB Singapore Cargo ALCEJ00 0.612 ALCEI00 Feb-24 48.16
Jet Kero FOB Singapore Cargo ALCEL00 0.240 ALCEK00 Feb-24 18.93
China’s ZPC CDU undergoing planned maintenance Gasoil 10ppm FOB Singapore Cargo ALCEH00 0.362 ALCEG00 Feb-24 28.54
United States Gulf Coast ¢/gal Date kgCO2e/gal
The Asian gasoline complex strengthened April Gasoline CBOB USGC Prompt Pipeline ALCEN00 1.295 ALCEM00 Feb-24 1.02
Jet Kero 54 USGC Prompt Pipeline ALCEP00 0.610 ALCEO00 Feb-24 0.48
11, tracking a widening US RBOB-Brent crack and ULSD USGC Prompt Pipeline ALCER00 0.787 ALCEQ00 Feb-24 0.62
diminishing regional supplies, sources said. Northwest Europe $/mt Date kgCO2e/mt
The US RBOB-Brent crack was pegged at $26.61/b Gasoline Eurobob (E5) FOB NWE Barge ALCEB00 4.779 ALCEA00 Feb-24 376.28
at 0300 GMT April 11, up from the Platts assessment Jet FOB NWE Barge ALCED00 2.176 ALCEC00 Feb-24 171.36
ULSD 10ppm FOB NWE Barge ALCEF00 2.453 ALCEE00 Feb-24 193.12
of $24.94/b at the Asian close on April 9, S&P Global
Commodity Insights data showed.
Regional gasoline could possibly experience a gasoline assessment April 11 took into consideration Carbon credits (PGA page 496)
Change
supply crunch as Saudi Aramco’s SASREF refinery was a trade for a cargo loading over May 3-7 at a premium
Platts CEC
planning to start partial works around mid-April, S&P of 95 cents/b to the Mean of Platts Singapore 92 RON $/mtCO2e PCECA00 11.500 0.000
Global previously reported. gasoline assessment at $103.40/b, a trade for a cargo Jet Fuel Carbon Offset Premiums
China’s ZPC has also shut its 200,000 b/d CDU for loading over May 4-8 at $103.30/b, a bid for a cargo $/b AJFCA00 55.324 0.000
a planned partial maintenance, S&P Global previously loading over April 30-May 4 at $103.40/b, an offer for a
reported, thereby adding further downward pressure cargo loading over May 2-6 at $103.50/b, and an offer
on supply as other major Chinese and Indonesian for a cargo loading over May 7-11 at $103.20/b. Gulf to Singapore.
refineries are also undergoing turnarounds. Gasoline Unl 95 FOB Spore Cargo <PGAEZ00> Platts is part of S&P Global Commodity Insights.
Possibly reflecting bullish sentiment, brokers assessment rationale: The FOB Singapore 95 RON Exclusions: No market data was excluded from the
pegged the front-month FOB Singapore 92 RON gasoline assessment April 11 took into consideration Asian gasoline Platts Market on Close assessment
gasoline swaps crack spread with Brent swaps in the a trade for a cargo loading over April 26-May 2 at a process April 11.
$11.70-$11.75/b range at 0300 GMT, up from the Platts premium of 70 cents/b to the Mean of Platts Singapore No market data was excluded from the Asian
assessment of $10.76/b at the Asian close on April 9, 95 RON gasoline assessment at $107.89/b. gasoline derivative MOC process April 11.
S&P Global data showed. Gasoline Unl 97 FOB Spore Cargo <PGAMS00>
Brokers pegged the physical FOB Singapore 92 RON assessment rationale: The FOB Singapore 97 RON Platts FOB Fujairah Gasoline Daily Rationale &
gasoline crack against front-month ICE Brent crude gasoline assessment April 11 took into consideration Exclusions
oil futures in the $12.15-$12.20/b range at 0300 GMT, the adjusted 97-95 inter-RON spread, in the absence of Gasoline 92 RON FOB Fujairah cargo <RFJFS00>
up from the Platts assessment of $11.19/b at the Asian bids, offers and trades. assessment rationale: The assessment of FOB Fujairah
close on April 9, the data showed. Gasoline Unl 92 FOB Arab Gulf Cargo <AAGJA00> 92 RON gasoline April 11 took into consideration the 92
Platts is part of S&P Global Commodity Insights. assessment rationale: The FOB Arab Gulf 92 RON RON gasoline Mean of Platts Arab Gulf strip value of
gasoline cargo assessment was derived as a freight $98.05/b, as well as the cash differential for Fujairah
Platts Singapore Gasoline Rationales & netback from the FOB Singapore 92 RON marker 92 RON gasoline at $8.10/b in the absence of bids,
Exclusions using the following calculation: FOB Singapore 92 RON offers and trades in the FOB Fujairah 92 RON gasoline
Gasoline Unl 92 FOB Spore Cargo <PGAEY00> assessment minus the cost of transporting a 35,000- Market on Close assessment process.
assessment rationale: The FOB Singapore 92 RON mt clean cargo from a basket of ports in the Persian The MOPAG 92 RON gasoline strip is calculated

European products ($/mt)

Mediterranean (PGA page 1114)
FOB (Italy) CIF (Genova/Lavera) MOPL Diff
Prem Unl 10ppm AAWZA00 929.00–929.50 929.250 +9.750 AAWZB00 942.75–943.25 943.000 +9.750
Naphtha PAAAI00 647.75–648.25 648.000 -0.250 PAAAH00 666.25–666.75 666.500 -0.250
Jet aviation fuel AAIDL00 843.75–844.25 844.000 +2.250
Gasoil 0.1% AAVJI00 817.25–817.75 817.500 -0.500 AAVJJ00 830.25–830.75 830.500 -0.500 AMOPI00 11.77 -0.120
10ppm ULSD AAWYY00 824.00–824.50 824.250 +4.500 AAWYZ00 838.00–838.50 838.250 +4.500 AMOPN00 8.38 +5.080
1% PUAAK00 509.75–510.25 510.000 +5.250 PUAAJ00 522.00–522.50 522.250 +5.250
3.5% PUAAZ00 486.00–486.50 486.250 +7.000 PUAAY00 498.00–498.50 498.250 +7.000
Northwest Europe cargoes (PGA page 1110)
CIF (Basis ARA) FOB NWE MOPL Diff
Gasoline 10ppm AAXFQ00 988.25–988.75 988.500 +10.000
Naphtha Swap PAAAJ00 678.25–678.75 678.500 -0.250
Naphtha Phy PAAAL00 679.50–680.00 679.750 -0.250
Jet PJAAU00 870.25–870.75 870.500 +2.250 PJAAV00 851.00–851.50 851.250 +2.000 AMOPJ00 0.91 -0.490
Ultra low sulfur diesel 10ppm AAVBG00 835.75–836.25 836.000 -6.000 AAVBF00 823.25–823.75 823.500 -6.250 AMOPL00 0.64 -4.560
Gasoil 0.1% AAYWS00 812.75–813.25 813.000 -0.250 AAYWR00 788.75–789.25 789.000 -0.500 AMOPH00 0.19 -0.070
Diesel 10ppm NWE AAWZC00 838.50–839.00 838.750 -6.000 AAWZD00 823.25–823.75 823.500 -6.000
Diesel 10 PPM UK AAVBH00 840.25–840.75 840.500 -6.000 AUKMA00 5.137 -4.564
1% PUAAL00 519.50–520.00 519.750 +6.500 PUAAM00 503.25–503.75 503.500 +6.500
3.5% PUABA00 471.25–471.75 471.500 +5.750 PUABB00 456.25–456.75 456.500 +5.750
0.5-0.7% straight run PKABA00 649.50–650.50 650.000 +4.000
Low sulfur VGO AAHMZ00 751.00–752.00 751.500 +4.000 AAHMX00 728.25–729.25 728.750 +3.750
High sulfur VGO AAHND00 737.25–738.25 737.750 +4.000 AAHNB00 714.75–715.75 715.250 +4.000
Northwest Europe barges (PGA pages 1112 & 1380)
FOB Rotterdam MOPL Diff
Eurobob AAQZV00 936.25–936.75 936.500 +13.000
E10 Eurobob AGEFA00 933.750 +11.750
Unleaded 98 AAKOD00 1038.25–1038.75 1038.500 +18.000
Premium Unleaded PGABM00 960.75–961.25 961.000 +27.250
Reformate AAXPM00 1039.500 +18.000
MTBE* PHALA00 1184.25–1184.75 1184.500 +10.250
Naphtha Phy PAAAM00 675.50–676.00 675.750 -0.250
Jet PJABA00 866.50–867.00 866.750 +2.250 AMOPK00 0.97 -0.140
Gasoil 50 ppm AAUQC00 816.25–816.75 816.500 -9.750
Gasoil 0.1%* AAYWT00 800.25–800.75 800.500 -0.750 AMOPG00 3.26 -0.030
10 ppm* AAJUS00 820.25–820.75 820.500 -9.750 AMOPM00 -2.01 -5.340
1% PUAAP00 503.25–503.75 503.500 +6.500
3.5% PUABC00 472.25–472.75 472.500 +5.750
Fuel Oil 3.5% 500 CST PUAGN00 468.25–468.75 468.500 +5.750
Low sulfur VGO AAHNF00 725.25–726.25 725.750 +3.750
High sulfur VGO AAHNI00 711.50–712.50 712.000 +3.750
*FOB Amsterdam-Rotterdam-Antwerp
Rotterdam bunker (PGA page 1112)
380 CST PUAFN00 471.50–472.50 472.000 +4.000

from the May MOPAG 92 RON gasoline swap at US products (¢/gal) (PGA page 158)
$97.83/b and the June MOPAG 92 RON gasoline US West Coast pipeline
swap at $96.35/b. The cash differential took into Los Angeles San Francisco
consideration values in the FOB Fujairah 92 RON Unleaded 84 AAUHA00 321.36–321.46 321.410 -1.750 PGADG00 358.36–358.46 358.410 -5.750
gasoline market heard in the Middle East. Premium 90 PGABG00 346.36–346.46 346.410 -1.750 PGABO00 385.36–385.46 385.410 -5.750
Gasoline 95 RON FOB Fujairah cargo <AFUJA00> CARBOB AAKYJ00 325.36–325.46 325.410 -1.750 AAKYN00 361.36–361.46 361.410 -5.750
CARBOB PREM AAKYL00 350.36–350.46 350.410 -1.750 AAKYP00 388.36–388.46 388.410 -5.750
assessment rationale: The assessment of FOB Fujairah
Jet PJAAP00 261.93–262.03 261.980 -4.780 PJABC00 261.93–262.03 261.980 -4.780
95 RON gasoline April 11 took into consideration the 95 ULS (EPA) Diesel POAET00 272.93–273.03 272.980 -8.780 POAEY00 291.18–291.28 291.230 +5.220
RON gasoline MOPAG strip value of $102.62/b, as well CARB diesel POAAK00 272.93–273.03 272.980 -8.780 POAAL00 291.18–291.28 291.230 +5.220
as the cash differential for Fujairah 95 RON gasoline at Seattle Portland
$8.30/b in the absence of bids, offers and trades in the Unleaded 84 AAXJE00 309.36–309.46 309.410 -4.750 AAXJC00 311.36–311.46 311.410 -4.750
Premium 90 AAXJF00 346.36–346.46 346.410 -4.750 AAXJD00 348.36–348.46 348.410 -4.750
FOB Fujairah 95 RON gasoline MOC. Jet PJABB00 261.93–262.03 261.980 -4.780
The MOPAG 95 RON gasoline strip is calculated ULS (EPA) Diesel AAUEX00 266.78–266.88 266.830 -4.780 AAUEY00 267.93–268.03 267.980 -4.780
from the May MOPAG 95 RON gasoline swap at Phoenix
$102.41/b and the June MOPAG 95 RON gasoline RBOB unleaded 84 AADDP00 347.36–347.46 347.410 -1.750
RBOB premium 89.5 PPXDJ00 372.36–372.46 372.410 -1.750
swap at $100.99/b. The cash differential took into
Differential to NYMEX
consideration values in the FOB Fujairah 95 RON
CARBOB AANVX00 47.95/48.05 48.000 -1.000
gasoline market heard in the Middle East. Jet Fuel AANVY00 -4.05/-3.95 -4.000 0.000
Exclusions: No market data was excluded from the ULS (EPA) Diesel AANVZ00 6.95/7.05 7.000 -4.000
Asian gasoline MOC April 11. CARB Diesel AANWA00 6.95/7.05 7.000 -4.000
Platts is part of S&P Global Commodity Insights. US West Coast waterborne
Los Angeles
Unleaded 87 PGADI00 321.36–321.46 321.410 -1.750
Platts FOB Fujairah Gasoline Bids, Offers, Jet PJABI00 260.93–261.03 260.980 -4.780
Trades
Bids: PLATTS FUJAIRAH MOGAS CARGO MOC:

OUTSTANDING INTEREST: NO BIDS Platts assessment of futures markets at MOC close (PGA page 703)
Offers: PLATTS FUJAIRAH MOGAS CARGO MOC: Singapore 16:30
OUTSTANDING INTEREST: NO OFFERS ICE gasoil futures ($/mt) NYMEX RBOB (¢/gal) NYMEX NY ULSD (¢/gal)
Apr 24* AAQYM01 836.00 May XNRBA01 279.95 May XNHOA01 270.95
Trades: PLATTS FUJAIRAH MOGAS CARGO MOC: May 24 AAQYM02 835.00 Jun XNRBA02 277.34 Jun XNHOA02 270.68
OUTSTANDING INTEREST: NO TRADES Jun 24 AAQYM03 831.25 Jul XNRBA03 273.13 Jul XNHOA03 270.53
This assessment commentary applies to the New York 14:30
following market data codes: Gasoline 92 RON FOB NYMEX light sweet crude ($/barrel) NYMEX RBOB (¢/gal) NYMEX NY ULSD (¢/gal)
May NYCRM01 85.00 May NYRBM01 277.53 May NYHOM01 266.06
Fujairah Cargo <RFJFS00> and Gasoline 95 RON FOB
Jun NYCRM02 84.45 Jun NYRBM02 274.96 Jun NYHOM02 266.32
Fujairah Cargo <AFUJA00> Jul NYCRM03 83.77 Jul NYRBM03 270.99 Jul NYHOM03 266.41
*Balance month swaps are assessed from the 1st to the 15th of the month, and to the 14th of February.

Asia Pacific and Middle East crude assessments ($/barrel)

(Asia MOC) (Asia MOC) (Asia close) (London close)
API
Gravity Code Mid Change Code Mid Change Code Mid Change Code Mid Change
Condensate (PGA page 2212) (PGA page 2213)
Diff to Dubai Diff to Asian Dated Brent
NW Shelf 61.9 PCAGX00 82.80–82.84 82.820 -0.570 AAPAI00 -7.00 -0.500 AAPAH00 82.180 -0.300
Ichthys FC 48.9 ICFCA00 90.070 -0.870 ICFCB00 0.250 -0.800
DFC 56.82 ADFCA00 88.61–88.65 88.630 -0.450 ADFCB00 -0.05/0.05 0.000 -0.500 ADFCC00 -1.190 -0.380 ADFCD00 87.990 -0.180
Qatar LSC 56.9 AARBB00 88.36–88.40 88.380 -0.450 AARBD00 -0.30/-0.20 -0.250 -0.500 AARBC00 -1.440 -0.380 AARBA00 87.740 -0.180
South Pars 57.4 AARAV00 83.56–83.60 83.580 -0.450 AARAX00 -5.10/-5.00 -5.050 -0.500 AARAW00 -6.240 -0.380 AARAU00 82.940 -0.180
Diff to ICP
Senipah 54.4 AAEOE00 79.80–79.84 79.820 -0.570 AAEOK00 -5.05/-4.95 -5.000 -0.250 AAPBE00 -10.000 -0.500 AAPBD00 79.180 -0.300
Light crude (PGA page 2214) (PGA page 2215)
Diff to ICP Diff to Asian Dated Brent
Cossack 47.7 PCAGZ00 90.00–90.04 90.020 -0.870 AAPAC00 0.200 -0.800 AAPAB00 89.380 -0.600
Tapis 45.2 PCACB00 92.80–92.84 92.820 -0.070 AAOZW00 3.000 0.000 AAOZV00 92.180 +0.200
Belida 45.1 PCAFL00 84.30–84.34 84.320 -0.870 PCAFM00 -2.80/-2.70 -2.750 -0.400 AAPBQ00 -5.500 -0.800 AAPBP00 83.680 -0.600
Kutubu 44.3 PCAFJ00 86.55–86.59 86.570 -0.870 AAPAE00 -3.250 -0.800 AAPAD00 85.930 -0.600
Attaka 42.3 PCAAJ00 84.25–84.29 84.270 -0.870 PCAAK00 -2.80/-2.70 -2.750 -0.400 AAPBC00 -5.550 -0.800 AAPBB00 83.630 -0.600
Ardjuna 38 PCACQ00 88.90–88.94 88.920 -0.070 PCACR00 -1.25/-1.15 -1.200 0.000 AAPBG00 -0.900 0.000 AAPBF00 88.280 +0.200
Banyu Urip 32 PCAFQ00 94.220 -0.070 PCAQQ00 2.200 0.000 AAPBU00 4.400 0.000 AAPBR00 93.580 +0.200
Diff to Dubai
Sakhalin Blend 45.5 AARBN00 82.91–82.95 82.930 +0.050 AARCN00 -5.75/-5.65 -5.700 0.000 AARDN00 -6.890 +0.120 AAREN00 82.290 +0.320
ESPO M1 34.8 AARWF00 85.76–85.80 85.780 +0.100 AASEU00 -2.90/-2.80 -2.850 +0.050 AARWE00 -4.120 -0.020 AARWD00 85.060 +0.550
ESPO M2 34.8 AAWFE00 84.71–84.75 84.730 +0.090 AAWFG00 -2.90/-2.80 -2.850 +0.050
Sokol 39.7 AASCJ00 85.51–85.55 85.530 +0.100 AASCK00 -3.15/-3.05 -3.100 +0.050 AAPAO00 -4.290 +0.170 AAPAN00 84.890 +0.370
Kikeh 34.9 AAWUH00 96.75–96.79 96.770 -0.070 AAOZY00 6.950 0.000 AAOZX00 96.130 +0.200
Miri Light 32.3 PCABQ00 96.30–96.34 96.320 -0.070 AAPAS00 6.500 0.000 AAPAR00 95.680 +0.200
Labuan 32 PCABL00 99.20–99.24 99.220 -0.070 AAPAQ00 9.400 0.000 AAPAP00 98.580 +0.200
Kimanis 38.6 AASCL00 100.220 -0.070 AASCM00 10.400 0.000 AASCN00 99.580 +0.200
Medium crude (PGA page 2216) (PGA page 2217)
Diff to Asian Dated Brent
Su Tu Den 36.8 AARAR00 96.25–96.29 96.270 -0.070 AARAS00 6.450 0.000 AARAQ00 95.630 +0.200
Bach Ho 40.7 PCAHY00 98.00–98.04 98.020 -0.070 AAPAK00 8.200 0.000 AAPAJ00 97.380 +0.200
Nanhai 40 PCAFR00 85.35–85.39 85.370 -0.070 AAPAG00 -4.450 0.000 AAPAF00 84.730 +0.200
Nile Blend 33.9 AAPLC00 83.85–83.89 83.870 -0.870 AAPAM00 -5.950 -0.800 AAPAL00 83.230 -0.600
Daqing 32.2 PCAAZ00 89.15–89.19 89.170 -0.120 AAPAW00 -0.650 -0.050 AAPAV00 88.530 +0.150
Heavy crude (PGA page 2218) (PGA page 2219)
Diff to ICP Diff to Asian Dated Brent
Dar Blend 25 AARAB00 86.45–86.49 86.470 -0.270 AARAC00 -3.350 -0.200 AARAA00 85.830 0.000
Shengli 24.2 PCABY00 91.80–91.84 91.820 -0.170 AAPAY00 2.000 -0.100 AAPAX00 91.180 +0.100
Duri 20.8 PCABA00 95.20–95.24 95.220 -0.120 PCABB00 2.65/2.75 2.700 0.000 AAPBM00 5.400 -0.050 AAPBL00 94.580 +0.150
Vincent 18.3 AARAK00 99.670 -0.120 AARAL00 9.850 -0.050 AARAJ00 99.030 +0.150

Platts Asia and Middle Eastern Naphtha trade April 11, down $1.25/mt from $6/mt at the April 9 In statistical news, Malaysia produced 242,018 mt of
Daily Market Analysis Asian close. naphtha in February, up 40.17% on the month but 2.6%
Petrochemicals margins continue to be on a lower on the year. The month-on-month rise tracked
Weak demand continues on poor
downtrend signaling that the market is expected an increase in gasoline output as naphtha is typically
petrochemicals margins
to remain weak, a Singapore-based trader said. used as a blending component. Over January-February,
Hanwha TotalEnergies, YNCC seek naphtha Meanwhile, supply has increased as refineries are back Malaysia produced 414,484 mt naphtha, down 20.22%
for H2 May to production after turnarounds, he added. on the year.
India’s BPCL offers 33,000 mt naphtha for The CFR Northeast Asia ethylene price spread to Platts is part of S&P Global Commodity Insights.
April 21-22 C+F Japan naphtha was at $223.625/mt April 9, down
$2.125/mt from the previous session. However, this was Platts Japan Naphtha Daily Rationales &
The Asian naphtha market remained weak April still below the typical breakeven spread of $250/mt Exclusions
11 amid poor petrochemicals margins despite end- for integrated producers and $300-$350/mt for non- Naphtha C+F Japan Cargo <PAAAD00> assessment
users emerging to seek spot cargoes for completing integrated producer. rationale:
coverage of second-half May requirement, market South Korea’s Hanwha TotalEnergies and YNCC The CFR Japan naphtha cargo assessment April 11
sources said. issued buy tenders for open-specification naphtha took into consideration an offer for H2 June at $708/mt
The Platts-assessed C+F Japan naphtha crack cargoes for delivery in H2 May to Daesan and Yeosu, with a crack value of $27.30/mt, which demonstrated
spread against ICE June Brent crude futures was at respectively. Both tenders close April 11, with same- value, and a trade for H2 May-H2 June time spread at
$25.525/mt at the April 9 Asian close, down 2.525/mt day validity, S&P Global Commodity Insights reported $3.50/mt, which did not demonstrate value. The H2
when compared to $28.05 at the April 8 Asian close, earlier. May-H1 June time spread was assessed at $3.75/mt
tracking a stronger crude oil complex. In supply news, India’s Bharat Petroleum Corp. Ltd. and the H1 June-H2 June time spread was assessed at
The backwardation structure narrowed as brokers issued a sell tender offering 33,000 mt naphtha for $3.25/mt.
pegged the May-June Mean of Platts Japan naphtha April 21-22 loading from Mumbai in a tender closing Naphtha FOB Spore Cargo <PAAAP00> assessment
swap time spread at $4.75/mt in midmorning Asian April 11, with validity until April 12. rationale:
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The FOB Singapore naphtha assessment was Exclusions: No market data was excluded from the export cargoes were expected from China, sources
derived as a freight netback from the CFR Japan April 11 Fujairah naphtha market on close assessment said. Market participants anticipated a new round of
naphtha first cycle assessment using the following process. export allocations from China by end-April, but export
calculation: CFR Japan naphtha first cycle assessment Platts is part of S&P Global Commodity Insights. volumes were not expected to rise on the back of
minus the cost of transporting a 30,000-mt clean tepid demand.
cargo on the Singapore-Japan route. Platts FOB Fujairah Naphtha Bids, Offers, The key arbitrage flow of jet fuel/kerosene to Europe
Naphtha FOB Arab Gulf Cargo <PAAAA00> Trades remained closed for now, said a shipping source.
assessment rationale: Malaysia’s output of combined oil products fell
The FOB Arab Gulf naphtha assessment was Bids: No bids 9.96% on the year to 2.46 million mt in February,
derived as a freight netback from the CFR Japan Offers: No offers preliminary data seen by S&P Global Commodity
naphtha marker using the following calculation: CFR Trades: No trades Insights showed April 11, with all products, except fuel
Japan naphtha marker minus the cost of transporting This assessment commentary applies to the oil, posting declines.
a 55,000-mt clean cargo from a basket of ports on the following market data codes: Naphtha FOB Fujairah Compared with January, combined output of oil
Persian Gulf-Japan route. Cargo $/mt <NFJSA00>. products rose 9.57% in February, with production of
Platts is part of S&P Global Commodity Insights. LPG, gasoil, gasoline and naphtha recording month-
Exclusions: Platts Asia and Middle Eastern Jet Daily on-month increases, while that of kerosene and fuel oil
No market data was excluded from the April 11 Market Analysis declined.
Asian naphtha derivative Market on Close assessment Malaysia’s combined oil products include gasoline,
Participants anticipate lesser Chinese export
process. gasoil, fuel oil, kerosene, LPG and naphtha.
volumes for May
No market data was excluded from the April 11 Asian Over January-February, production of combined oil
naphtha MOC. Malaysia’s Feb kerosene production falls 25% products slid 13.67% on the year to 4.7 million mt, with
on month all products recording a drop in production.
Platts FOB Fujairah Naphtha Daily Rationale & Malaysia’s kerosene output was at 207,240 mt in
Exclusions The Asian jet fuel/kerosene market firmed April 11 February, down 25.05% on the month and lower 8.1%
Naphtha FOB Fujairah <NFJSA00 > assessment as brokers pegged the intraday front-month May-June on the year, the data showed.
rationale: jet fuel/kerosene swaps time spread at plus 15 cents/b, The decline in output came amid partial works
The assessment of FOB Fujairah naphtha on April wider from 12 cents/b at the April 9 Asian close. at Petronas’ Melaka refinery as well as unplanned
11 took into consideration the naphtha Mean of Platts In tenders, Taiwan’s Formosa was heard to have sold maintenance at the Pengerang refinery. Malaysia’s
Arab Gulf strip value of $644.98/mt, as well as the cash 300,000 barrels of jet A-1 fuel, loading May 16-20, at a RAPID shut its sole crude distillation unit, atmospheric
differential at $31.5/mt in the absence of bids, offers discount of 45 cents/b to the Mean of Platts Singapore residue desulphurization unit, residue fluid catalytic
and trades in the FOB Fujairah naphtha market on jet fuel/kerosene assessment, FOB, via a tender which cracker and the MTBE unit at the Pengerang Integrated
close assessment process. closed April 10, sources said. Complex in Johor Feb. 3-March 3 for a planned
The MOPAG naphtha strip is calculated from Also, South Korea’s SK Energy was heard to have maintenance.
the May MOPAG naphtha swap at $644.52/mt and sold 300,000 barrels of jet A-1 fuel via tender, loading
June MOPAG naphtha swap at $641.42/mt. The cash April 30-May 2, via a tender that closed April 9, sources Platts Asia & Middle East Jet Kero Daily
differential took into consideration the FOB AG cash said. Award levels could not be confirmed, but was Rationale & Exclusions
differential against Mean of Platts Arab Gulf naphtha heard at a discount of around 80-90 cents/b to MOPS Jet Kero FOB Spore Cargo <PJABF00> assessment
physical, in the absence of any competitive bids, offers jet fuel/kerosene assessments, FOB, sources said. rationale:
or trades demonstrating value otherwise. Shorter supply was expected in May as fewer The FOB Singapore Jet fuel/kerosene cargo

assessment April 11 was based on the following Platts Singapore Jet Kero Bids, Offers, The balance month April-May derivative time
inputs: The front loading period was assessed Mean Trades spread was pegged by brokers at plus 9 cents/b in
of Platts Singapore Jet fuel/kerosene assessment midafternoon trading April 11, compared with plus 2
minus 67 cents/b, taking into consideration a trade Bids: Jet: FOB Straits: Trafigura bids May -0.30 May cents/b at the Asian close April 9.
for April 26-30 at MOPS minus 67 cents/b after 2-6 230kb INCO The Platts-assessed cash differential for 10 ppm
normalizing for deemed pricing. The middle loading Offers: Jet: FOB Straits: Aramco no longer offers sulfur gasoil cargoes FOB Singapore narrowed 4
period was assessed at MOPS minus 11 cents/b, MOPS -0.50 Apr 26-30 100kb (Deemed pricing Apr 15- cents/b to reach a fresh one-month high at minus
taking into consideration the movement in the front 22) after trade with Vitol (4:28:59); Jet: FOB Straits: BP 13 cents/b at the Asian close April 9, compared with
loading window and a bid for a cargo loading May 2-6 offers MOPS +0.50 Apr 26-30 100kb (Deemed pricing minus 42 cents/b at the start of the month. The
at MOPS minus 10 cents/b. The back loading period Apr 24-30) BP GTC. Seller represents and warrants that, differential was last seen higher on March 8 at minus
was assessed at MOPS plus 7 cents/b, reflecting the to the best of its knowledge, the Cargo delivered under 10 cents/b.
movement in the middle loading period. this Contract: (i) does not contain any product that was “There is no gasoil tender coming out of South
Jet Kero FOB Arab Gulf Cargo <PJAAA00> produced, manufactured or processed in, or exported Korea yet. We will need to wait for those to get a
assessment rationale: from; or (ii) has not been produced through a blending clearer idea of demand and supply,” a regional middle
The FOB Arab Gulf Jet Kero cargo assessment was process that uses product or components that have distillate trader said.
derived as a freight netback from the FOB Singapore been produced, manufactured or processed in, or Taiwan’s Formosa Petrochemical has sold 750,000
Jet Kero cargo assessment using the following input: exported from, in each case, the Russia Federation or barrels of 10 ppm sulfur gasoil for May 17-21 loading
FOB Singapore Jet Kero cargo assessment minus the Crimea, the Donetsk People’s Republic or the Luhansk to an oil major at a discount of around $1/b to the
cost of transporting a 55,000-mt clean cargo from a People’s Republic in Ukraine; Jet: FOB Straits: Aramco loading-month average of Mean of Platts Singapore 10
basket of ports in the Persian Gulf to Singapore. offers MOPS +0.50 May 1-5 100kb (Deemed pricing Apr ppm sulfur gasoil assessments, FOB Mailiao.
Exclusions: 22-29); Jet: FOB Straits: Aramco offers MOPS +0.50 Market talk about China allocating a new batch of
No market data was excluded from the April 11, 2024 May 6-10 100kb (Deemed pricing Apr 29-May 6) oil product export quotas has had only a limited impact
Singapore Jet fuel/kerosene Platts Market on Close Trades: Jet: FOB Straits: Apr 26-30: 100kb: Vitol buys on Asia oil product markets, with the the country’s
assessment process. from Aramco at MOPS minus $0.50/b (Deemed pricing outflows expected to be steady in 2024, trading
Apr 15-22)(4:28:59) sources and analysts said.
Platts FOB Fujairah Jet Kero Rationale & This assessment commentary applies to the Market sources said April 8 that the Chinese
Exclusions following market data codes: Jet Kero <PJABF00> government could release 18 million mt of export
Jet Kero FOB Fujairah cargo <AFUJF00> quotas for clean products and fuel oil by the end of
assessment rationale: Platts Asia and Middle Eastern Gasoil Daily April, enhancing the quota availability and allowing
Platts assessed FOB Fujairah jet fuel/kerosene Market Analysis more barrels to flow overseas when domestic
on April 11 at a premium of $3.60/b to Mean of Platts demand slows.
FOB Singapore 10 ppm sulfur gasoil cash differential
Arab Gulf jet fuel/kerosene assessment, taking into “More exports quotas does not mean higher
reaches one-month high
consideration prices in the FOB Fujairah jet fuel/ exports [from China] now,” a Shanghai-based trading
kerosene market as well as differentials for recent Taiwan’s Formosa Petrochemical sells May 17-21 source said, adding that “the domestic market is
cargo trades heard in the Middle East. The MOPAG jet loading 10 ppm sulfur gasoil relatively balanced in the maintenance season as
fuel/kerosene strip was at $102.58/b. demand is just so-so.”
Exclusions: No market data was excluded from the Fundamentals in the Asian gasoil market were “We keep our projection that the quotas for 2024
April 11, 2024 Fujairah Jet fuel/kerosene Market-on- stable April 11 in the absence of fresh spot activity for [will be] more or less unchanged from 2023, although
Close assessment process. May-loading cargoes from South Korea. the government would allocate all quotas earlier than

last year to give oil firms more flexibility on the export $1.21/b and MOPS Gasoil minus $1.18/b, respectively 2024, Fujairah Gasoil Market-on-Close assessment
plans,” one London-based market analyst said. reflecting the movement in the front- and middle- process.
At the end of March, Sinopec and PetroChina loading periods. Platts is part of S&P Global Commodity Insights.
maintained their throughput target for 2024 at Gasoil FOB Spore Cargo <POABC00> assessment
the same level as 2023, while expecting growth in rationale: Platts Asia and Middle Eastern Gasoil Cargo
domestic demand. The FOB Singapore Gasoil 0.001% (10 ppm) cargo Bids, Offers, Trades
Meanwhile, several trade participants said it was assessment April 11 was based on the adjusted
too early to determine if the suggested new quota relationship between the physical and swap markets. Bids: Gasoil 10ppm: FOB Straits: Gunvor bids
level was accurate, in the absence of an official The cash differential was up 4 cents/b day on day at MOPS -0.50 May 1-5 1500kb (Deemed pricing May
announcement. MOPS Gasoil minus 9 cents/b, as the balance-month 2-8) INCO. Seller represents and warrants that the
In 2024, S&P Global projected China’s clean product April/May swap was 8 cents/b higher day on day at cargo delivered/to be delivered under this Contract:
exports at around 900,000 b/d for 2024, about the plus 10 cents/b. (i) does not contain any product that was produced,
same level as in 2023. Exclusions: No market data was excluded from manufactured or processed in, or exported from; or (ii)
Elsewhere, Malaysia produced 1.42 million mt the April 11, 2024, Singapore Gasoil Market-on-Close has not been produced through a blending process
of gasoil in February, down 8% on the year but assessment process. that uses product or components that have been
8.18% higher on the month, data from the country’s Platts is part of S&P Global Commodity Insights. produced, manufactured or processed in, or exported
Department of Statistics showed. from, in each case, the Russia Federation or Crimea,
Platts is part of S&P Global Commodity Insights. Platts FOB Fujairah Gasoil Daily Rationale & the Donetsk People’s Republic or the Luhansk People’s
Exclusions Republic in Ukraine; Gasoil 10ppm: FOB Straits:
Platts Asia and Middle Eastern Gasoil Cargo Gasoil FOB Fujairah cargo <AFUJK00> assessment Trafigura bids MOPS -0.20 May 6-10 150kb INCO; Gasoil
Daily Rationale & Exclusions rationale: 2500ppm: FOB Straits: Vitol bids MOPS -4.20 Apr
Gasoil 0.001%S (10 ppm) FOB Spore Cargo The FOB Fujairah Gasoil assessment on April 11 30-May 4 150kb (Deemed pricing Apr 29-May 6) INCO;
<AAOVC00> assessment rationale: was assessed at a premium of $2.59/b to the Mean Gasoil 500ppm: FOB AG (Sohar/Jebel Ali/Ras Laffan):
The FOB Singapore Gasoil 0.001% (10 ppm) cargo of Platts Arab Gulf gasoil assessment, taking into Trafigura bids MOPS +1.90 May 1-5 200kb (Deemed
assessment April 11 was based on the adjusted consideration prices in the FOB Fujairah gasoil market pricing May 2-9) INCO or MOPS +1.90 May 6-10 200kb
relationship between the physical and swap markets. as well as differentials for recent cargo trades heard (Deemed pricing May 6-10) INCO
The cash differential was up 4 cents/b day on day at in the Middle East. The MOPAG Gasoil Strip was Withdrawn: Gasoil 500ppm: FOB Straits: Vitol no
MOPS Gasoil minus 9 cents/b, as the balance-month $103.42/b. longer bids MOPS -1.30 Apr 26-30 150kb (Deemed
April/May swap was 8 cents/b higher day on day at Gasoil 500 ppm FOB Fujairah cargo <AFUJN00> pricing Apr 24-30) INCO or MOPS -1.30 Apr 30-May 4
plus 10 cents/b. assessment rationale: 150kb (Deemed pricing Apr 26-May 3) INCO after trade
Gasoil 0.05%S (500 ppm) FOB Spore Cargo The FOB Fujairah 500 ppm Gasoil assessment on with BP at -1.30 (4:29:06)
<AAFEX00> assessment rationale: April 11 was assessed at a premium of $1.79/b to the Offers: Gasoil 10ppm: FOB Straits: BP offers May
The FOB Singapore Gasoil 0.05% (500 ppm) cargo Mean of Platts Arab Gulf gasoil assessment, taking +0.20 Apr 26-30 150kb BP GTC. Seller represents and
assessment April 11 was based on the following inputs: into consideration prices in the FOB Fujairah gasoil warrants that, to the best of its knowledge, the Cargo
The front-loading period was assessed at MOPS Gasoil market as well as differentials for recent cargo trades delivered under this Contract: (i) does not contain
minus $1.18/b, taking into account a trade for a cargo heard in the Middle East. The MOPAG Gasoil Strip was any product that was produced, manufactured or
loading April 26-30 at MOPS Gasoil minus $1.30/b, after $103.42/b. processed in, or exported from; or (ii) has not been
normalizing the deemed pricing. The middle- and back- Exclusions: produced through a blending process that uses
loading periods were assessed at MOPS Gasoil minus No market data was excluded from the April 11, product or components that have been produced,

manufactured or processed in, or exported from, Gasoil 0.001% (10 ppm) cargo assessment minus the Global Commodity Insights.
in each case, the Russia Federation or Crimea, the cost of transporting a 55,000-mt clean cargo from a Platts last assessed the Hi-5 spread narrower at
Donetsk People’s Republic or the Luhansk People’s basket of ports in the Persian Gulf to Singapore and $138.15/mt on Jan. 16, S&P Global data showed.
Republic in Ukraine; Gasoil 10ppm: FOB Straits: Unipec taking into account the cash differential between the The Singapore marine fuel 0.5%S cash differential
offers MOPS +0.30 Apr 26-30 150kb (Deemed pricing FOB Arab Gulf 10 ppm and 500 ppm assessments. to Mean of Platts Singapore marine fuel 0.5%S
Apr 25-May 2) INCO; Gasoil 10ppm: FOB Straits: Vitol Gasoil FOB Arab Gulf Cargo <POAAT00> assessment was assessed at minus 37 cents/mt on
offers MOPS +0.20 Apr 26-30 150kb (Deemed pricing assessment rationale: April 9, similar to the previous day, according to S&P
Apr 24-30); Gasoil 10ppm: FOB Straits: Vitol offers The FOB Arab Gulf Gasoil 0.001% (10 ppm) cargo Global data.
MOPS +0.10 May 1-5 150kb (Deemed pricing Apr 24-30) assessment was derived as a freight netback from Cost savings from scrubber installations are
or MOPS +0.20 May 7-11 150kb; Gasoil 10ppm: FOB the FOB Singapore Gasoil 0.001% (10 ppm) cargo expected to stay healthy for the near term at the
Straits: Shell offers May +0.30 May 7-11 150kb Shell assessment using the following input: FOB Singapore world’s largest bunkering hub of Singapore, even
GTCs It is a condition of this agreement that the goods Gasoil 0.001% (10 ppm) cargo assessment minus the though the Hi-5 spread, or the price difference
sold and delivered by Seller will not be of Russian cost of transporting a 55,000-mt clean cargo from a between 0.5%S fuel oil and the 380 CST high sulfur
Federation (RF) origin, nor have been blended with any basket of ports in the Persian Gulf to Singapore. grade, has narrowed progressively since March amid
product that was produced in RF, nor will the transport Exclusions: ample low sulfur fuel oil supplies, traders said April 11.
of the goods sold commence from or involve transit No market data was excluded from the April 11, Narrower Hi-5 spreads imply lower cost savings
through RF. 2024, Singapore Gasoil Market-on-Close assessment for scrubber-fitted ships, though market participants
Trades: Gasoil 500ppm: FOB Straits: Apr 26- process. still expect a reasonable payout period at prevailing
30: 150kb: BP sells to Vitol at MOPS minus $1.30/b Platts is part of S&P Global Commodity Insights. spreads that would still buoy demand for scrubber
(Deemed pricing Apr 24-30) INCO (4:29:06) retrofits.
This assessment commentary applies to the Platts Asia and Middle East Fuel Oil Daily Platts assessed the front-month crack spread for
following market data codes: <AAOVC00> <AAFEX00> Market Analysis Singapore 0.5% sulfur marine fuel grade against Brent
<AACUE00> <POABC00> <AAFEZ00> crude 40 cents/mt lower on the day at $9.93/b April 9,
LSFO supplies adequate
inching down for the fifth consecutive trading session,
Platts Asia and Middle Eastern Gasoil FOB Hi-5 spread narrows to 3-month low S&P Global data showed.
Cargo Daily Rationale & Exclusions The Singapore 380 CST HSFO balance April-May
Gasoil 0.25%S (2,500 ppm) FOB Spore Cargo The Asian low sulfur fuel oil market structure market structure was pegged at minus $2.55/mt in
<AACUE00> assessment rationale: remained unchanged April 11, with ample cargoes likely midafternoon Asian trade April 11, unchanged from the
The FOB Singapore Gasoil 0.25% (2,500 ppm) cargo to cap potential upside in upstream valuations for the preceding session, while the May-June spread was
assessment April 11 was based on the spread between current week, according to traders. pegged at minus 25 cents/mt on April 11, also steady
500 ppm gasoil and 2,500 ppm gasoil. The cash The Singapore 0.5%S marine fuel balance April- from the previous day.
differential was down 5 cents/b day on day at MOPS May swaps time spread was pegged at 50 cents/mt in Platts assessed the benchmark Singapore 380
Gasoil minus $3.32/b. midafternoon Asian trade April 11, steady from the April CST HSFO cash differential to MOPS 380 CST HSFO
Gasoil 0.05% (500 ppm) FOB Arab Gulf Cargo 9 close. swap values at minus $2/mt at the Asian close April 9,
<AAFEZ00> assessment rationale: The upstream Platts FOB Singapore-delivered unchanged on the day, S&P Global data showed.
The FOB Arab Gulf Gasoil 0.05% (500 ppm) cargo marine fuel 0.5%S bunker spread with the Around Singapore hub, plentiful HSFO cargoes also
assessment was derived as a freight netback from corresponding 380 CST high sulfur fuel oil assessment capped both upstream and downstream valuations,
the FOB Singapore Gasoil 0.001% (10 ppm) cargo narrowed $1.33/mt on the day to a near three-month while an imminent uptick in stocking activities for
assessment using the following inputs: FOB Singapore low of $140.99/mt April 9, according to data from S&P power generation demand in the Middle East could

lend some support ahead of summer, traders said. Offers: products sold and delivered by Seller will not be of
Around the North Asian markets, HSFO sales in Platts Marine Fuel 0.5%: FOB Straits: Trafigura offers Russian Federation (RF) origin (which includes product
China, especially at the main bunker hub of Zhoushan, MOPS +2.00 Apr 26-30 20kt OR exported from RF) nor blended with any RF origin
were seen expanding too, as offers were “quite Platts Marine Fuel 0.5%: FOB Straits: Trafigura offers product. Seller can provide if requested documentary
competitive” compared with other neighboring ports in MOPS +2.00 May 1-5 20kt OR evidence of compliance, showing refinery origin(s) of
the region, traders said. Platts Marine Fuel 0.5%: FOB Straits: Trafigura offers the cargo, to the Buyer’s reasonable satisfaction.)
MOPS +2.00 May 6-10 20kt Platts Marine Fuel 0.5%: FOB Straits: Idemitsu offers
Platts FOB Singapore Marine Fuel 0.5% cargo Platts Marine Fuel 0.5%: FOB Straits: Shell MOPS +0.00 Apr 26-30 20kt OR
Daily Rationale & Exclusions withdraws offer MOPS +2.00 Apr 26-30 20kt Shell Platts Marine Fuel 0.5%: FOB Straits: Idemitsu offers
Marine Fuel 0.5% FOB Spore cargo $/mt GTC OR (It is a condition of this offer/agreement MOPS +2.00 May 1-5 20kt OR
<AMFSA00> Assessment Rationale that the products sold and delivered by Seller will Platts Marine Fuel 0.5%: FOB Straits: Idemitsu offers
The FOB Singapore Marine Fuel 0.5%S assessment not be of Russian Federation (RF) origin (which MOPS +3.00 May 6-10 20kt
April 11 took into consideration an offer by Shell for a includes product exported from RF) nor blended Trades:
20,000 mt cargo loading April 28-May 2 that traded with any RF origin product. Seller can provide if 1)Platts Marine Fuel 0.5%: FOB Straits: Apr 28-May
with PetroChina at the Mean of Platts Singapore requested documentary evidence of compliance, 2: 20kt: PetroChina buys from Shell at MOPS -2.00
Marine Fuel 0.5%S assessment minus $2/mt, and two showing refinery origin(s) of the cargo, to the Buyer’s (4:28:59.018) (It is a condition of this offer/agreement
bids from Mercuria for 40,000 mt cargoes loading April reasonable satisfaction.) that the products sold and delivered by Seller will not
26-30 and May 1-5 at balance-April Marine Fuel 0.5%S Platts Marine Fuel 0.5%: FOB Straits: Shell no be of Russian Federation (RF) origin (which includes
assessment minus $2/mt. longer offers MOPS -2.00 Apr 28-May 2 20kt Shell GTC product exported from RF) nor blended with any
This assessment commentary applies to the OR after trade with PetroChina (4:28:59.018) (It is a RF origin product. Seller can provide if requested
following market data codes: Marine Fuel 0.5% FOB condition of this offer/agreement that the products documentary evidence of compliance, showing refinery
Spore cargo $/mt <AMFSA00> sold and delivered by Seller will not be of Russian origin(s) of the cargo, to the Buyer’s reasonable
Exclusions: No data was excluded from the April 11, Federation (RF) origin (which includes product exported satisfaction.)
2024, cargo assessment process. from RF) nor blended with any RF origin product. Seller This assessment commentary applies to the
can provide if requested documentary evidence of following market data codes: Marine Fuel 0.5% FOB
Platts FOB Singapore Marine Fuel 0.5% compliance, showing refinery origin(s) of the cargo, to Spore cargo $/mt <AMFSA00>
Cargo Bids, Offers, Trades the Buyer’s reasonable satisfaction.)
Platts Marine Fuel 0.5%: FOB Straits: Shell Platts Singapore Fuel Oil Paper Exclusions
Bids: withdraws offer MOPS +3.00 May 1-May 5 20kt Shell
Platts Marine Fuel 0.5%: FOB Straits: Vitol bids GTC OR (It is a condition of this offer/agreement that Exclusions:
MOPS -4.00 Apr 26-30 20kt INCO OR the products sold and delivered by Seller will not be of No market data was excluded from the April 11, 2024
Platts Marine Fuel 0.5%: FOB Straits: Vitol bids Russian Federation (RF) origin (which includes product Asian fuel oil paper assessment process.
MOPS -3.00 May 1-5 20kt INCO OR exported from RF) nor blended with any RF origin
Platts Marine Fuel 0.5%: FOB Straits: Vitol bids product. Seller can provide if requested documentary Fuel Oil Reported Deals
MOPS -3.00 May 6-10 20kt INCO evidence of compliance, showing refinery origin(s) of
Platts Marine Fuel 0.5%: FOB Straits: Mercuria bids the cargo, to the Buyer’s reasonable satisfaction.) FUEL OIL 180CST SINGAPORE/FUEL OIL 380CST
Bal Apr -2.00 Apr 26-30 40kt INCO OR Platts Marine Fuel 0.5%: FOB Straits: Shell SINGAPORE
Platts Marine Fuel 0.5%: FOB Straits: Mercuria bids withdraws offer MOPS +3.00 May 6-May 10 20kt Shell PLATTS FO SPR: BAL MONTH: MERCURIA BUYS
Bal Apr -2.00 May 1-5 40kt INCO GTC (It is a condition of this offer/agreement that the FROM BP* 5KMT AT $16.25 (08:29:49)

FUEL OIL 380CST SINGAPORE Trades: No trade Platts FOB Fujairah Daily 380 CST HSFO Cargo
PLATTS FO: MAY24: PRIME BUYS FROM GUNVOR* This assessment commentary applies to the Daily Rationale & Exclusions
5KMT AT $492.75 (08:29:15) following market data codes: Marine Fuel 0.5% FOB HSFO 380 CST FOB Fujairah cargo $/mt
PLATTS FO: MAY24: ONYX BUYS FROM VITOL* Fujairah cargo $/mt <AMFFA00> <AFUJQ00> assessment rationale:
5KMT AT $493.00 (08:29:40) FOB Fujairah 380 CST HSFO assessment on April 11
PLATTS FO: MAY24: GUNVOR SELLS TO ONYX* Platts Asia and Middle East FO 180, 380 CST took into consideration prices in the Fujairah 380 CST
5KMT AT $493.00 (08:29:46) Daily Rationales & Exclusions HSFO delivered bunker market as well as differentials
PLATTS FO: MAY24: GUNVOR SELLS TO ONYX* FO 180 CST 3.5%S FOB Spore Cargo <PUADV00> for recent cargo trades heard in the Middle East.
10KMT AT $493.00 (08:29:48) assessment rationale: Exclusions:
PLATTS FO: MAY24: ONYX BUYS FROM VITOL* The FOB Singapore 180 CST HSFO assessment No market data was excluded from the April 11,
5KMT AT $493.00 (08:29:53) April 11 took into consideration the drop in market 2024, assessment process.
PLATTS FO: JUN24: MERCURIA TOOK OFFER* structure. Platts is part of S&P Global Commodity Insights.
5KMT AT $493.25 (08:29:15) FO 380 CST 3.5%S FOB Spore Cargo <PPXDK00>
PLATTS FO SPR: MAY24/JUN24: MARKET SELLS assessment rationale: Platts Singapore Fuel Oil Bids Offers Trades
TO PRIME* 5KMT AT $-0.50 (08:29:15) The FOB Singapore 380 CST HSFO assessment
MARINE FUEL 0.5% FOB SINGAPORE (PLATTS) April 11 took into consideration notional values Bids:
PLATTS MARINE FUEL: MAY24: HOTEI BUYS in the absence of any competitive bids or offers PLATTS HSFO: PHYSICAL BIDS FINALS ON CLOSE
FROM MERCURIA* 5KMT AT $632.75 (08:29:59) demonstrating the values otherwise. (180 CST): No bids
FO 180 CST 3.5%S FOB Arab Gulf Cargo <PUABE00> PLATTS HSFO: PLATTS HSFO: PHYSICAL BIDS
Platts Fujairah Daily Marine Fuel 0.5% Cargo assessment rationale: FINALS ON CLOSE (380 CST): No bids
Daily Rationale & Exclusions The FOB Arab Gulf 180 CST HSFO assessment was Platts Bitumen: PHYSICAL BIDS FINALS ON CLOSE:
Marine Fuel 0.5% FOB Fujairah cargo $/mt derived as a freight netback from the FOB Singapore FOB STRAITS: No bids
<AMFFA00> assessment rationale: 180 CST HSFO assessment using the following Platts Bitumen: PHYSICAL BIDS FINALS ON CLOSE:
FOB Fujairah Marine Fuel 0.5%S cargo assessment calculation: FOB Singapore 180 CST HSFO assessment FOB SOUTH KOREA: No bids
April 11 took into consideration prices in the Fujairah- minus the cost of transporting an 80,000-mt dirty PLATTS HSFO FOB FUJ: PHYSICAL BIDS FINALS ON
delivered Marine Fuel 0.5%S bunker market as well as cargo from the Persian Gulf to the East. CLOSE (380 CST): No bids
differentials at which Marine Fuel 0.5%S cargoes were FO 380 CST 3.5%S FOB Arab Gulf Cargo <AAIDC00> Offers:
heard traded in the Middle East. assessment rationale: PLATTS HSFO: PHYSICAL OFFERS FINALS ON
This rationale applies to symbol(s) <AMFFA00> The FOB Arab Gulf 380 CST HSFO assessment CLOSE (180 CST):
Exclusions: was derived as a freight netback from the FOB Platts HSFO 180CST: FOB Straits: BP offers MOPS
No market data was excluded from the April 11, Singapore 380 CST HSFO assessment using the -2.00 Apr 26-30 20kt BP GTC OR (Seller represents and
2024, assessment process. following calculation: FOB Singapore 380 CST HSFO warrants that, to the best of its knowledge, the cargo
Platts is part of S&P Global Commodity Insights. assessment minus the cost of transporting an delivered under this Contract: (i) does not contain
80,000-mt dirty cargo from the Persian Gulf to the any product that was produced, manufactured or
Platts Fujairah Daily Marine Fuel 0.5% East. processed in, or exported from; or (ii) has not been
Cargo Bids, Offers, Trades Exclusions: produced through a blending process that uses
No market data was excluded from the April 11, product or components that have been produced,
Bids: No bid 2024, high sulfur fuel oil cargo assessment process. manufactured or processed in, or exported from,
Offers: No offer Platts is part of S&P Global Commodity Insights. in each case, the Russia Federation or Crimea, the

Donetsk People’s Republic or the Luhansk People’s exported from RF) nor blended with any RF origin Platts US West Coast Light End Daily
Republic in Ukraine.) product. Seller can provide if requested documentary Commentary
Platts HSFO 180CST: FOB Straits: BP offers MOPS evidence of compliance, showing refinery origin(s) of
California differential prices fall
-2.00 May 1-5 20kt BP GTC OR (Seller represents and the cargo, to the Buyer’s reasonable satisfaction.)
warrants that, to the best of its knowledge, the cargo Platts HSFO 380CST: FOB Straits: Rex Commodities San Francisco CARB reformulated gasoline
delivered under this Contract: (i) does not contain offers MOPS +3.00 May 2-6 20kt OR (It is a condition production reaches new low
any product that was produced, manufactured or of this offer/agreement that the products sold and
processed in, or exported from; or (ii) has not been delivered by Seller will not be of Russian Federation California gasoline differentials weakened April 11
produced through a blending process that uses (RF) origin (which includes product exported from amid record-breaking production lows.
product or components that have been produced, RF) nor blended with any RF origin product. Seller San Francisco CARBOB gasoline fell the most in the
manufactured or processed in, or exported from, can provide if requested documentary evidence of region, with the differential sliding 5 cents to NYMEX
in each case, the Russia Federation or Crimea, the compliance, showing refinery origin(s) of the cargo, to May RBOB futures plus 84 cents/gal.
Donetsk People’s Republic or the Luhansk People’s the Buyer’s reasonable satisfaction.) In Los Angeles, the CARBOB differential shed 1 cent
Republic in Ukraine.) Platts HSFO 380CST: FOB Straits: Rex Commodities to futures plus 48 cents/gal.
Platts HSFO 180CST: FOB Straits: BP offers MOPS offers MOPS +3.00 May 7-11 20kt (It is a condition CARB reformulated gasoline production in California
-2.00 May 6-10 20kt BP GTC (Seller represents and of this offer/agreement that the products sold and dropped to 4.568 million barrels in the week ended
warrants that, to the best of its knowledge, the cargo delivered by Seller will not be of Russian Federation April 5, according to data from the California Energy
delivered under this Contract: (i) does not contain (RF) origin (which includes product exported from Commission released April 10. It was the lowest value
any product that was produced, manufactured or RF) nor blended with any RF origin product. Seller recorded since 4.278 million barrels in the week ended
processed in, or exported from; or (ii) has not been can provide if requested documentary evidence of May 29, 2020.
produced through a blending process that uses compliance, showing refinery origin(s) of the cargo, to Northern California production fell 698,000 barrels
product or components that have been produced, the Buyer’s reasonable satisfaction.) on the week to 1.255 million barrels, the lowest volume
manufactured or processed in, or exported from, Platts Bitumen: PHYSICAL OFFERS FINALS ON since Jan. 7, 2005.
in each case, the Russia Federation or Crimea, the CLOSE: FOB STRAITS: No offers
Donetsk People’s Republic or the Luhansk People’s Platts Bitumen: PHYSICAL OFFERS FINALS ON Platts Middle East Sour Crude Daily Market
Republic in Ukraine.) CLOSE: FOB SOUTH KOREA: No offers Analysis
PLATTS HSFO: PHYSICAL OFFERS FINALS ON PLATTS HSFO FOB FUJ: PHYSICAL OFFERS FINALS
Aramco Allocates lesser Arab Medium, Heavy
CLOSE (380 CST): ON CLOSE (380 CST): No offers
supplies: trade sources
Platts HSFO 380CST: FOB Straits: Vitol offers MOPS Trades:
+3.00 Apr 26-30 20kt INCO OR Platts HSFO Trade Summary: No trade Europe and US arbitrage to Asia unworkable
Platts HSFO 380CST: FOB Straits: Vitol offers MOPS Platts Bitumen Trade Summary: FOB STRAITS: despite fixtures: traders
+3.00 May 1-5 20kt INCO OR No trade
Platts HSFO 380CST: FOB Straits: Vitol offers MOPS Platts Bitumen: TRADE SUMMARY: FOB SOUTH The Middle East sour crude market on April 11 saw
+3.00 May 6-10 20kt INCO KOREA: No trade Saudi Aramco releasing its May crude oil allocations
Platts HSFO 380CST: FOB Straits: Rex Commodities PLATTS HSFO FOB FUJ Trade Summary: No trade with full volumes likely given to all Asian refiners,
offers MOPS +3.00 Apr 27-May 1 20kt OR (It is a This assessment commentary applies to the although overall volumes of Arab Medium and
condition of this offer/agreement that the products following market data codes: FO 180 CST 2.0% Heavy were understood to be lower than usual for a
sold and delivered by Seller will not be of Russian <PUAXS00> FO 180 CST 3.5% <PUADV00> FO 380 CST second month.
Federation (RF) origin (which includes product 3.5% <PPXDK00> Some Asian refiners reported being asked to

nominate lesser volumes of Arab Medium or Heavy days and was most recently assessed at $1.47/b April 9, PLATTS DUBAI: JUN24: GUNVOR BIDS 25KB AT
prior to the release of the May allocations, as the up 16.7% on the day. The Singapore market was closed $90.88 AND TRADES DURING EXTENSION
supply of both grades was tighter. for a public holiday April 10. PLATTS DUBAI: JUN24: EQUINOR BIDS 25KB
“We understand Saudi’s Arab Medium and Heavy For Far East Russia’s ESPO blend crude, Chinese AT $90.85
are short. So we were requested to nominate less in independent refiner Haike was heard to have bought PLATTS DUBAI: JUN24: BP BIDS 25KB AT $90.84
the first place,” one refining source said. earlier this week a May-arrival cargo at parity to July PLATTS DUBAI: JUN24: MITSUI NO LONGER BIDS
The shake-up in May allocations was similar to ICE Brent, DES Shandong from Chinese major CNOOC. AFTER TRADE
last month, when April allocations of Arab Medium PLATTS DUBAI: JUN24: TOTAL NO LONGER BIDS
and Heavy were heard also curtailed due to oilfield Platts Mideast Sour Crude Daily Rationales & AFTER TRADE
maintenance taking place, S&P Global Commodity Exclusions PLATTS DUBAI: JUN24: BP NO LONGER BIDS 25KB
Insights reported earlier. Dubai Mo01 <PCAAT00> assessment rationale: AT $90.30 AFTER WITHDRAWAL (08:15:03)
Aramco did not respond to S&P Global’s request The June cash Dubai assessment April 11 took into Offers:
for comment on the matter. Aramco typically does not consideration bids and offers for cash Dubai partials PLATTS DUBAI: JUN24: GLENCORE OFFERS 25KB
comment on its crude oil term allocations. that traded at $90.88-$90.90/b toward the end of AT $90.94 AND WITHDRAWS DURING EXTENSION
Notwithstanding the change in grades, refiners the Platts Market on Close assessment process, PLATTS DUBAI: JUN24: EXXONMOBIL OFFERS 25KB
across the region reported receiving the full volumes demonstrating value to be higher day on day. The AT $91.00
they asked for. assessment also considered a standing bid at PLATTS DUBAI: JUN24: UNIPEC OFFERS 25KB
“We got full,” a second refining source said. $90.89/b at the end of the MOC. AT $91.05
For Chinese refiners, total allocations for May stood Oman Blend Mo01 <PCABS00> assessment PLATTS DUBAI: JUN24: GUNVOR OFFERS 25KB
at around 45.5 million barrels, down from 46-47.5 rationale: The June cash Oman assessment April 11 AT $91.05
million barrels for April, according to trade sources. took into consideration values heard in the broader PLATTS DUBAI: JUN24: BP OFFERS 25KB AT $91.15
The decline was mainly due to a sharp drop in market and Oman’s notional spread to cash Dubai. PLATTS DUBAI: JUN24: PETROCHINA NO LONGER
allocations to Unipec, which saw its May volumes fall to Exclusions: No market data was excluded from the OFFERS AFTER TRADE
8.5 million barrels, down from around 15 million barrels Middle East sour crude MOC. PLATTS DUBAI: JUN24: RELIANCE NO LONGER
in April. However, this was offset by larger volumes Platts is part of S&P Global Commodity Insights. OFFERS AFTER TRADE
allocated to Shenghong and Rongsheng. PLATTS DUBAI: JUN24: TRAFIGURA NO LONGER
Reasons for the drop in volumes to Unipec were Platts Oil Mideast Sour Crude OFFERS AFTER TRADE
unclear, though some traders had noted lesser buying Convergences Trades:
interest from the Chinese major in recent days amid PLATTS DUBAI: JUN24: PETROCHINA SELLS TO
weakening margins. **Platts Crude: PCHK declares a cargo of June EQUINOR* 25KB AT $90.80 (08:28:48)
While some arbitrage activity from the US and Murban crude to Vitol following the convergence of 20 PLATTS DUBAI: JUN24: RELIANCE SELLS TO VITOL*
Europe to Asia had been seen done in fixtures partials in Platts cash Dubai. 25KB AT $90.80 (08:28:50)
data in recent days, a trader noted that North Sea PLATTS DUBAI: JUN24: PETROCHINA SELLS TO
crude values at current levels, nonetheless, looked Platts Middle East Sour Crude Bids, Offers, MITSUI* 25KB AT $90.80 (08:28:57)
uneconomical, adding that the arbitrage was firmly Trades PLATTS DUBAI: JUN24: EQUINOR BUYS FROM
unworkable. PETROCHINA* 25KB AT $90.85 (08:29:02)
The arbitrage for US crudes to Asia was likely also Bids: PLATTS DUBAI: JUN24: VITOL BUYS FROM
closed. WTI Midland’s premium to the UAE’s Murban PLATTS DUBAI: JUN24: VITOL BIDS 25KB AT $90.89 GLENCORE* 25KB AT $90.85 (08:29:05)
crude on a CFR North Asia basis has climbed in recent AND TRADES DURING EXTENSION PLATTS DUBAI: JUN24: EQUINOR BUYS FROM

PETROCHINA* 25KB AT $90.85 (08:29:08) PLATTS DUBAI: JUN24: PETROCHINA SELLS TO More June-loading programs for light sweet crude
PLATTS DUBAI: JUN24: GLENCORE SELLS TO VITOL* GUNVOR* 25KB AT $90.88 (08:29:51) barrels emerged in the Asia-Pacific regional market
25KB AT $90.85 (08:29:08) PLATTS DUBAI: JUN24: PETROCHINA SELLS TO April 11.
PLATTS DUBAI: JUN24: PETROCHINA SELLS TO MITSUI* 25KB AT $90.90 (08:29:53) Australia’s Santos has scheduled a 300,000-barrel
VITOL* 25KB AT $90.85 (08:29:11) PLATTS DUBAI: JUN24: PETROCHINA SELLS TO cargo of Papua New Guinea’s Kutubu crude to load
PLATTS DUBAI: JUN24: VITOL BUYS FROM VITOL* 25KB AT $90.89 (08:29:53) over June 2-6, according to market participants.
GLENCORE* 25KB AT $90.85 (08:29:15) PLATTS DUBAI: JUN24: PETROCHINA SELLS TO Kutubu crude was last heard traded for loading over
PLATTS DUBAI: JUN24: VITOL BUYS FROM TOTAL* 25KB AT $90.89 (08:29:54) May, at discounts in the high-$3s/b to the Platts Dated
PETROCHINA* 25KB AT $90.85 (08:29:18) PLATTS DUBAI: JUN24: PETROCHINA SELLS TO Brent crude assessments, FOB, sources earlier said.
PLATTS DUBAI: JUN24: MITSUI BUYS FROM GUNVOR* 25KB AT $90.88 (08:29:55) Santos had also scheduled a 300,000-barrel cargo
GLENCORE* 25KB AT $90.85 (08:29:22) PLATTS DUBAI: JUN24: PETROCHINA SELLS TO of Australia’s Varanus crude blend to load over June
PLATTS DUBAI: JUN24: VITOL BUYS FROM MITSUI* 25KB AT $90.90 (08:29:56) 2-6, and a 575,000-barrel cargo of Cooper light crude
PETROCHINA* 25KB AT $90.85 (08:29:22) PLATTS DUBAI: JUN24: PETROCHINA SELLS TO to load over June 1-7 tentatively, sources said.
PLATTS DUBAI: JUN24: PETROCHINA SELLS TO VITOL* 25KB AT $90.89 (08:29:58) On condensates, Australia’s North West Shelf
MITSUI* 25KB AT $90.85 (08:29:27) PLATTS DUBAI: JUN24: PETROCHINA SELLS TO condensate was heard offered at discounts in the
PLATTS DUBAI: JUN24: RELIANCE SELLS TO VITOL* TOTAL* 25KB AT $90.89 (08:29:59) $6s/b to Dated Brent on FOB basis, according to trade
25KB AT $90.85 (08:29:29) PLATTS DUBAI: JUN24: PETROCHINA SELLS TO sources.
PLATTS DUBAI: JUN24: GLENCORE SELLS TO MITSUI* 25KB AT $90.90 (08:30:00)** Previously, May-loading barrels of North West Shelf
EQUINOR* 25KB AT $90.85 (08:29:30) PLATTS DUBAI: JUN24: PETROCHINA SELLS TO had traded at a discount in the high-$5s/b over the
PLATTS DUBAI: JUN24: PETROCHINA SELLS TO VITOL* 25KB AT $90.89 (08:30:02) same benchmark, CFR Tuban, sources said.
MITSUI* 25KB AT $90.85 (08:29:31) PLATTS DUBAI: JUN24: PETROCHINA SELLS TO Market participants stated that it was a “very strong
PLATTS DUBAI: JUN24: PETROCHINA SELLS TO GUNVOR* 25KB AT $90.88 (08:30:03) offer”, valuing the Australian condensate at a discount
VITOL* 25KB AT $90.85 (08:29:34) PLATTS DUBAI: JUN24: PETROCHINA SELLS TO in the $7s/b to $8s/b to Dated Brent, FOB.
PLATTS DUBAI: JUN24: PETROCHINA SELLS TO VITOL* 25KB AT $90.89 (08:30:08) “Value looks below discount of $6s/b from the
EQUINOR* 25KB AT $90.85 (08:29:38) PLATTS DUBAI: JUN24: PETROCHINA SELLS TO buyer’s perspective,” an Asia-based trader stated.
PLATTS DUBAI: JUN24: MITSUI BUYS FROM GUNVOR* 25KB AT $90.88 (08:30:09) In the heavy sweet crude segment, Senning was
GLENCORE* 25KB AT $90.88 (08:29:41) PLATTS DUBAI: JUN24: PETROCHINA SELLS TO heard to have sold a 600,000-barrel cargo of Sudan/
PLATTS DUBAI: JUN24: PETROCHINA SELLS TO VITOL* 25KB AT $90.89 (08:30:17) South Sudan’s Nile Blend crude for loading over May
MITSUI* 25KB AT $90.88 (08:29:43) This assessment commentary applies to the 21-23 at a discount in the $6s/b to Dated Brent, FOB,
PLATTS DUBAI: JUN24: PETROCHINA SELLS TO following market data codes: Dubai M1 <PCAAT00>, according to a trade source.
VITOL* 25KB AT $90.89 (08:29:47) Oman M1 <PCABS00> Prior April-loading barrels of the crude grade had
PLATTS DUBAI: JUN24: EQUINOR BUYS FROM traded at a discounts in the $4s/b to $6s/b to the
RELIANCE* 25KB AT $90.90 (08:29:48) Platts Asia Pacific Sweet Crude Daily Dated Brent crude assessments, FOB, sources said.
PLATTS DUBAI: JUN24: VITOL BUYS FROM Market Analysis
GLENCORE* 25KB AT $90.89 (08:29:50) Platts Asia Light Sweet Crude Daily Rationale &
Initial offers emerge for Australia’s North West Shelf
PLATTS DUBAI: JUN24: EQUINOR BUYS FROM Exclusions
condensate
PETROCHINA* 25KB AT $90.89 (08:29:50) ESPO FOB Kozmino Mo01 Spore vs Dubai Mo01
PLATTS DUBAI: JUN24: MITSUI BUYS FROM May-loading barrels of Sudan/South Sudan’s Nile <AASEU00> assessment rationale: The ESPO M1 June
TRAFIGURA* 25KB AT $90.95 (08:29:50) Blend heard traded assessment April 11 took into consideration latest trade

indications heard in the broader market. and Specification guide will no longer include a on Thursday, May 2, 2024.
Exclusions: No market data was excluded from reference year. For full details of S&P Global’s publishing schedule
the Asia Pacific Crude Market on Close assessment This change is to prevent the possibility of specified and services affected, refer to http://www.platts.com/
process. test methods no longer reflecting latest methods HolidayHome.
Platts is part of S&P Global Commodity Insights. prevalent in the wider market. Platts will continue to For queries, please contact
monitor evolving test methods to make necessary [email protected] and
Platts Asia Light Sweet Crude Bids, Offers, updates where relevant. [email protected].
Trades Platts would like to remind participants that
test methods for quality should be mutually agreed Platts corrects March 27 FOB Singapore 500 ppm and
Bids: NIL between counterparties, and recommended test 2500 ppm gasoil assessments
Offers: NIL methods stated in the Platts Methodology and Please note that the March 27 FOB Singapore 500
Trades: NIL Specification guide do not reflect an exhaustive list of ppm and 2500 ppm sulfur gasoil assessments should
This assessment commentary applies to the all test methods deployed in the wider market. read as follows:
following market data code: ESPO M1 vs Dubai M2 Platts would also like to remind market participants FOB Singapore
<AASEU00> that the editorial standards for the Platts Market Product Code Low High Close Change
on Close assessment process for Singapore middle Gasoil 0.05% S ($/b) AAFEX00 101.22 101.26
distillate cargo calls for best practices in all aspects of 101.24 -1.7
Subscriber Notes quality and operational performance. Gasoil 0.25% S ($/b) AACUE00 99.87 99.91
For further details please refer to the Methodology 99.89 -1.75
Platts corrects April 11 Singapore MF 0.5% derivative and Specification guide here: https://www. Gasoil 0.25% Cargo ($/mt) AAXNB00 744.032 744.33
assessments spglobal.com/commodityinsights/PlattsContent/_ 744.181 -13.037
Please note that the Platts Singapore Marine Fuel assets/_files/en/our-methodology/methodology- Spot Prem/Disc
0.5% derivatives assessments on April 11 should read specifications/asia-refined-oil-products- Gasoil 0.05% S ($/b) AAFFB00 -1.13 -1.09 -1.11 0.19
as follows: methodology.pdf Gasoil 0.25% S ($/b) AACQI00 -2.48 -2.44 -2.46 0.14
Code Close Please send any feedback or comments These assessments appear in the Platts Asia
Singapore Marine Fuel 0.5% Bal Month FOFS000 633.25
Singapore Marine Fuel 0.5% M1 FOFS001 632.75
to [email protected] and Pacific/Arab Gulf Marketscan, on Platts Global Alert
Singapore Marine Fuel 0.5% M2 FOFS002 630.05 [email protected]. pages: MH2404, RF2404, MH2420, RF2420, MH2004,
Singapore Marine Fuel 0.5% M1/M2 FSM0102 2.70
For written comments, please provide a clear RF2004, MH2410, RF2410, MH2002, RF2002, MH2470,
indication if comments are not intended for publication RF2470, MH2014, RF2014, MH0032, RF0032, MH0024,
These assessments appear in Platts Asia-Pacific by Platts for public viewing. Platts will consider all RF0024, MH 2280, CR2280, MH 2460, RF2460, MH2012,
Arab Gulf Marketscan, Platts Refined and Platts Global comments received and will make comments not RF2012, PB2013, MH2414, RF2414, MH2402, RF2402.
Alert pages 2654, 2655, 2657, and in the Platts price marked as confidential available upon request.
database under the codes listed above. Platts launches European ULSD, gasoil, jet cash
Labor Day publishing schedule for Asia Oil differential assessments
Platts clarifies Singapore gasoil test methods The S&P Global Commodity Insights office in Platts, part of S&P Global Commodity Insights,
Platts, part of S&P Global Commodity Insights, Singapore will be closed on Wednesday, May 1, 2024, launched new daily Mean of Platts London (MOPL)
would like to clarify that with effect from April 9, the for the Labor Day holiday, and there will be no oil cash differential assessments on March 1, 2024 for
gasoil test methods referred to in the Asia-Pacific publications or assessments from Singapore. a number of benchmark European middle distillate
and Middle East Refined Oil Products Methodology Normal Singapore publishing schedules will resume markets, in response to industry feedback.

Gasoil .1%S (1000ppm) FOB ARA Barge AAYWT00 AMOPG00

These new MOPL differential assessments reflect CIF NWE Cargo assessment will reflect delivery over Jet CIF NWE Cargo PJAAU00 AMOPJ00
the value of the physical product in relation to the March 11-March 26. The MOPL strip will equate to Jet Barges FOB FARAG PJABA00 AMOPK00
underlying forward curve aligned with the loading or the average of March 11-March 26 calculated on the
delivery window reflected in the physical assessment, assessed forward curve. The MOPL cash differential The new differential assessments appear in Platts
also known as the MOPL strip. The MOPL strip is will equate to the outright ULSD 10ppmS CIF NWE European Marketscan, US Marketscan, Oilgram Price
defined as the average of the forward values for Cargo assessment value on March 1 minus the MOPL Report, Asia-Pacific-Arab Gulf Marketscan and Platts
the sequence of the 16 days for cargoes and either strip value. Global Alert and Platts Refined Products Alert pages
11 or 13 days for barges that represent the future The new differential assessments will be published 1110, 1112, 1114, 1410 and 1420.
delivery or loading dates reflected in Platts middle alongside and complement the following Platts middle Please send any comments or feedback
distillates physical assessments. These strip values distillates assessments, which are informed by bids, to [email protected] and
are calculated using Platts assessments of related offers and trades reported in the Platts Market on [email protected]
derivatives for balance month, month one and Close Assessment process: For written comments, please provide a clear
month two. Platts has also backfilled the new MOPL Assessment Code MOPL Differential indication if comments are not intended for publication
ULSD 10ppmS CIF NWE Cargo AAVBG00 AMOPL00
differential assessments to September 1, 2020, based ULSD 10ppmS CIF Med Cargo AAWYZ00 AMOPN00
by Platts for public viewing. Platts will consider all
on the published values of physical assessment and ULSD 10ppmS FOB ARA Barge AAJUS00 AMOPM00 comments received and will make comments not
Gasoil 0.1%S CIF NWE Cargo AAYWS00 AMOPH00
corresponding underlying strip values on the day. Gasoil .1%S (1000ppm) CIF Med Cargo AAVJJ00 AMOPI00
marked as confidential available upon request.
For example, on March 1, 2024, the ULSD 10ppmS

China tanker fixtures

Vessel name Volume (kt) Grade Origin Port Arrival Buyers
ABUNDANCE III 268 Mal Blend Malaysia Dongjiakou 4/1/2024 TBA

ATILA 276 Mal Blend Malaysia Dongjiakou 4/5/2024 Qicheng
CAPTAIN KOSTICHEV 100 Sokol Russia Huanghua 4/6/2024 Hebei Xinhai
CARINA V 260 Crude Malaysia Rizhao 4/8/2024 TBA
CRIUS 101 ESPO Russia Dongying 3/29/2024 Haike
EAGLE VARNA 127 Mandji Gabon Yantai 4/2/2024 ChemChina
KALAMOS 141 Sepia Brazil Yantai 4/15/2024 ChemChina
LADY SOFIA 100 Belayim Malaysia Yantai 2/20/2024 Guanghui Kaineng
NS ARCTIC 100 Urals Russia Rizhao 4/3/2024 TBA
PACIFIC SKY 100 Fuel Oil Russia Tianjin 4/1/2024 Xinyue
PAVEL CHERNYSH 100 Sokol Russia TBA 4/22/2024 TBA
RIQUEZA 132 Mal Blend Malaysia Dongjiakou 4/2/2024 Hualong
SI HE 100 ESPO Russia Yantai 4/20/2024 Yulong
SPRING SPLENDOR 130 Crude TBA Yantai 4/2/2024 ChemChina
TURACO 100 ESPO Russia Rizhao 4/2/2024 TBA
VIGOR 270 Fuel Oil Malaysia Dongjiakou 2/18/2024 Yueyang Guansheng
VIKTOR TITOV 100 Sokol Russia Dongjiakou 4/16/2024 TBA
WEN YAO 275 Belayim Malaysia Yantai 4/3/2024 Jincheng
YURI SENKEVICH 100 Sokol Russia Yantai 4/22/2024 TBA
KYOTO 270 Crude Malaysia Changxing Island 3/31/2024 TBA

International Dirty Tanker Fixtures (PGT page 2950)

Ship name Size Type Date Route Rate Charterer
East of Suez
Tonegawa 270 CR Apr25 PG-China rnr Glasford

Singapore Loyalty 270 CR Apr25 PG-Thailand Index-Linked PTT
Coshonour Lake 270 CR Apr24 PG-China COA Unipec
Sounion 140 CR Apr17 Basrah-Sarroch w100 (via Suez), w67.5 (via Cape) Saras
Explorer 140 CR Apr23 Basrah-Sarroch w100 (via Suez), w67.5 (via Cape) Saras
Dynacom Tbn 140 CR Apr29 Basrah-UKCM rnr Vitol
Syros Warrior 80 FO Apr21 PG, RSea-USGC rnr, rnr ATC
Achilleas 80 CR Apr18 PG-East w115 Shell
Ce-hamilton 80 CR Apr22 Bashayer-East w225 Vitol
Sousta 80 VGO Apr24 Jizan-Sines $2.1m ATC
Kerala 50 FO Apr15 R Tanura-Fujairah rnr ATC
Free Spirit 80 CR Apr15 Bach Ho-Brisbane w150 Ampol
Pacific Jewels 80 CR Apr19 Kimanis-Thailand rnr PTT
Iberian Sea 80 CR Apr29 Vincent-East rnr ST
Kmarin Renown 80 CR dnr STS Tanjung Bruas-Thailand $720k SPRC
Pacific Topaz 80 CR dnr STS Tanjung Bruas-Thailand $720k SPRC
Southern Leader 80 CR dnr STS Tanjung Bruas-Thailand $720k SPRC
Southern Reverence 80 CR dnr STS Tanjung Bruas-Thailand $720k SPRC
Baltic/UKC
Belmar 80 CR Apr15 STS Southwold-Rostock, Demurrage w230, $90k/d Rosneft DE

Med
Aragona 270 CR May15 Sidi Kerir-Rotterdam rnr Bahri
Delta Spirit 135 CR Apr29 CPC-Med rnr Chevron
S Trust 100 CR Apr18 Sidi Kerir-Augusta, Demurrage w164, $55k/d Sonatrach
Sea Puma 80 FO Apr20 Izmit-USGC w117.5 Tupras
Navig8 Prestige 80 GO Apr21 Skikda-USGC, Caribs, USAC w115, 122.5, rnr Clearlake
Blue Sky 80 CR Apr18 Arzew-Spain w242.5 Repsol
West Africa
Evridiki 130 CR Apr24 WAF-UKCM rnr Vitol

Maran Homer 130 CR Apr27 WAF-East w120 Exxon
Almi Odyssey 130 CR May1 Nigeria-Abidjan rnr Total
Nordic Breeze 130 CR Apr28 Olombendo-Spain w130 Repsol
Americas
Front Beaver 270 CR May11 USGC-China $8.335m Unipec

Hafeet 270 CR May5 USGC-East rnr cnr
Front Seoul 145 CR Apr22 ECMex-Spain w105 Repsol
Los Angeles Spirit 145 CR Apr22 USGC-UKCM w110 Equinor
Seaways Pecos 145 CR Apr22 USGC-UKCM w107.5 Equinor
Brightway 145 CR Apr25 Guyana-Brazil rnr Hess

International dirty tanker fixtures (continued) (PGT page 2950)

Tbn 130 CR Apr17 Whiffy-Bayway rnr P66
Frankopan 70 CR Apr21 USGC-UKCM w220 ST Shipping
Torm Hermia 70 CR Apr21 USGC-UKCM w220 ST Shipping
Green Attitude 70 CR Apr23 USGC-UKCM w225 Socar
CR:Crude, FO: Fuel Oil, ppt: Prompt, cnr: charterer not reported, rnr: rate not reported, dnr: date not reported, coa: contract of affreightment, o/p: own program, o/o: owner’s option

International clean tanker fixtures (PGT page 2904)

East of Suez
FPMC P Ideal 90 ULSD Apr24 PG-UKC $4.9m KPC

Front Capella 90 JET Apr22 PG-UKC $4.9m RIL
STI Guard 90 COND Apr21 Qatar-STS UAE $640k Hanwha
Lady Henrietta 90 ULSD Apr20 PG-UKC $4.9m Shell
Hafnia Lillesand 90 CL Apr16 PG-Opts o/p Admic
Thundercat 90 GO Apr16 RSea-Ain Sukhna rnr Vitol
Eagle Le Havre 90 ULSD Apr14 Yanbu-UKC rnr Unipec
Navig8 Perseverance 90 ULSD Apr21 Sikka-EAfrica w145 RIL
Lion 75 NA Apr19 PG-Japan w162.5 OQ
Sealegend 75 NA Apr15 K Al Zubair-Japan w175 Vitol
Pacific Rawan 75 CL Apr14 RSea-Opts rnr cnr
Swarna Jayanti 75 NA Apr27 PG-Japan w162.5 cnr
Tbn 75 NA Apr27 PG-Japan w160 Massiv Energy
Torm Helene 75 NA Apr21 PG-Japan w160 Idemitsu
Scirocco 60 UNL Apr18 Jubail-Jebel Ali, Pakistan $675k, $825k CSSA
Octa Lune 60 UNL Apr14 Fujairah-K Al Zubair rnr Vitol
Torm Evolve 60 JET Apr12 Bahrain-Jebel Ali $700k Chevron
Tbn 60 JET Apr12 Bahrain-UAE $700k Chevron
Paloma 60 JET Apr15 Vadinar-West $4.05m ATC
Hafnia Excelsior 55 NA Apr21 PG-Japan Platts CSSA
Lian Song Hu 55 NA Apr14 PG-Japan rnr cnr
Yong Ao 35 NA Apr21 PG-Japan w215 BP
Atlantic Harmony 35 CL Apr20 Kuwait-EAfrica, SAfrica w290, w280 KPC
Silver Zoe 35 CL Apr20 Kuwait-EAfrica, SAfrica w290, w280 KPC
D&k Yusuf I.al Ghanim 35 GO Apr12 Yanbu-Fujairah $1.5m ATC
STI Venere 35 NA Apr20 Vadinar-Spore, Japan w242.5, w202.5 cnr
Hafnia Phoenix 35 UNL Apr19 Sikka-EAfrica, SAfrica w290, w280 RIL
MP MR Tanker 2 35 ULSD Apr21 NMangalore-SAfrica w267.5 Engen
Baltic /UKC
St Helen 37 UNL Apr18 ARA-WAF w200 ST

MTM Mississippi 37 UNL dnr ARA-TA w175 Total
Henning Maersk 30 ULSD Apr18 NSpain-UKC w225 Repsol
STI Poplar 30 ULSD Apr15 Brofjorden-UKC rnr Preem
Sea Stratus 30 CL Apr16 ARA-WAF w255 Sahara
Med
Nave Pulsar 37 UNL Apr18 Lavera-TA w210 Total

Great Kappa 37 UNL Apr17 Algeciras-TA, UKC w200, w200 Total
Americas
Jag Pranav 38 CL Apr18 USGC-Chile, Demurrage $2.825m, $47k/d Exxon

Alder Express 38 CL Apr14 Bahamas, USAC $795k Sunoco
CL:Clean, NA:Naphtha, UN:Unleaded, JT: Jet, GO:Gasoil, ppt: Prompt, cnr: charterer not reported, rnr: rate not reported, dnr: date not reported, coa: contract of affreightment, o/p: own program, o/o: owner’s option

APAC Deals Summary ** Denotes OCO order. Platts Mogas 92: MAY24: ONYX bids 25kb $101.60/bbl
Platts Mogas 92: MAY24: VITOLSG bids 25kb $101.60/bbl
Gasoline FOB Spore Paper Platts Mogas 92: MAY24: FREEPTASIA bids 25kb $101.45/bbl
Gasoline FOB Spore Cargo
Trades (PGA page 4011) Platts Mogas 92: MAY24: AKARITRADING bids 25kb
Trades (PGA page 2315) $101.40/bbl
Platts Mogas 92: MAY24: SKEISG sold to ONYX* 25kb
Platts Mogas 92: MAY4-MAY8: PTT sold to SKEISG* 50kb $101.85/bbl 8:29:45 Platts Mogas 92: MAY24: ONYX bids 25kb $101.40/bbl
FOB Straits $103.30/bbl 8:28:10 Platts Mogas 92: MAY24: GUNVORSA bids 25kb $101.35/bbl
Platts Mogas 92: MAY24: FREEPTASIA* sold to DARE 25kb
Platts Mogas 95: APR28-MAY2: *PTT sold to UNIPECSG* $101.90/bbl 8:29:45 Platts Mogas 92: MAY24: ONYX bids 25kb $101.20/bbl
50kb FOB Straits MOPS 95 $0.70/bbl 8:29:23
Platts Mogas 92: MAY24: ARIONINV* sold to DARE 50kb Platts Mogas 92: MAY24: ONYX bids 25kb $100.95/bbl
MAY3-MAY7: TOTALSG sold to BPSG* 100kb FOB Straits $101.90/bbl 8:29:48 Platts Mogas 92: MAY24: ONYX bids 25kb $100.85/bbl
MOPS 92 $0.95/bbl 8:28:41
Platts Mogas 92: MAY24: SKEISG sold to DARE* 25kb Platts Mogas 92: MAY24: ONYX bids 25kb $100.75/bbl
* Denotes market maker. All times GMT
$101.95/bbl 8:29:52
Bids (PGA page 2313) Withdrawals
Platts Mogas 92: MAY24: FREEPTASIA* sold to ARAMCOSG
Platts Mogas 92: MAY24: DARE no longer bids 25kb
APR30-MAY4: BPSG bids 100kb FOB Straits $103.40/bbl 25kb $101.95/bbl 8:29:54
$101.95/bbl
MAY1-MAY5: TRAFI bids 100kb FOB Straits $103.50/bbl Platts Mogas 92: MAY24: VITOLSG* sold to ARAMCOSG 25kb
** Denotes OCO order.
$102.00/bbl 8:29:57
Withdrawals Offers (PGA page 4010)
Platts Mogas 92: MAY24: THEMEINT sold to DARE* 25kb
Platts Mogas 92: MAY4-MAY8: SKEISG no longer bids 50kb
$101.95/bbl 8:29:58 Platts Mogas 92: MAY24: AKARITRADING offers 50kb
FOB Straits $103.30/bbl
Platts Mogas 92: MAY24: UITSG sold to DARE* 25kb $102.00/bbl
MAY3-MAY7: BPSG no longer bids 100kb FOB Straits MOPS
$101.95/bbl 8:29:59 Platts Mogas 92: MAY24: GUNVORSA offers 25kb
92 $0.95/bbl
Platts Mogas 92: MAY24: MFLCDTY* sold to ARAMCOSG $102.05/bbl
Platts Mogas 95: APR26-APR30: **UNIPECSG Withdraws bid
25kb $102.00/bbl 8:29:59 Platts Mogas 92: MAY24: THEMEINT offers 25kb
50kb FOB Straits MOPS 95 $0.60/bbl
Platts Mogas 92: MAY24: P66SG sold to DARE* 25kb $102.05/bbl
Platts Mogas 95: APR30-MAY4: **UNIPECSG Withdraws bid
$101.95/bbl 8:30:03 Platts Mogas 92: MAY24: EQUINOR offers 25kb $102.48/bbl
50kb FOB Straits MOPS 95 $0.60/bbl
* Denotes market maker. All times GMT Platts Mogas 92: MAY24: BPSG offers 25kb $102.50/bbl
Platts Mogas 95: APR28-MAY2: **UNIPECSG no longer bids
50kb FOB Straits MOPS 95 $0.70/bbl Bids (PGA page 4009) Platts Mogas 92: MAY24: ONYX offers 25kb $102.65/bbl
** Denotes OCO order. Platts Mogas 92: MAY24: EQUINOR bids 25kb $101.87/bbl Platts Mogas 92: MAY24: ONYX offers 25kb $102.75/bbl
Offers (PGA page 2314) Platts Mogas 92: MAY24: ARAMCOSG bids 25kb $101.85/bbl Withdrawals
Platts Mogas 92: MAY2-MAY6: **OQLTD offers 50kb FOB Platts Mogas 92: MAY24: DARE bids 25kb $101.85/bbl Platts Mogas 92: MAY24: ARIONINV no longer offers 50kb
Straits $103.50/bbl $101.90/bbl
Platts Mogas 92: MAY24: ONYX bids 25kb $101.85/bbl
Platts Mogas 92: MAY7-MAY11: **VITOLSG offers 50kb FOB Platts Mogas 92: MAY24: FREEPTASIA no longer offers 25kb
Platts Mogas 92: MAY24: ONYX bids 25kb $101.85/bbl
Straits MOPS 92 $1.20/bbl $101.95/bbl
Platts Mogas 92: MAY24: THEMEINT bids 25kb $101.83/bbl
Platts Mogas 92: MAY7-MAY11: **VITOLSG offers 50kb FOB Platts Mogas 92: MAY24: THEMEINT Withdraws offer 25kb
Platts Mogas 92: MAY24: THEMEINT bids 25kb $101.81/bbl $101.95/bbl
Straits $103.20/bbl
Platts Mogas 92: MAY24: DARE bids 25kb $101.80/bbl Platts Mogas 92: MAY24: MFLCDTY no longer offers 25kb
Platts Mogas 92: MAY7-MAY11: **OQLTD offers 50kb FOB
Straits $103.60/bbl Platts Mogas 92: MAY24: ONYX bids 25kb $101.80/bbl $102.00/bbl
Withdrawals Platts Mogas 92: MAY24: ARIONINV bids 25kb $101.70/bbl Platts Mogas 92: MAY24: PTT Withdraws offer 25kb
Platts Mogas 92: MAY24: BPSG bids 25kb $101.70/bbl $102.00/bbl
Platts Mogas 92: MAY1-MAY5: PTT Withdraws offer 50kb
FOB Straits $103.30/bbl Platts Mogas 92: MAY24: MFLCDTY bids 25kb $101.70/bbl Platts Mogas 92: MAY24: VITOLSG no longer offers 25kb
$102.00/bbl
Platts Mogas 92: MAY24: ARIONINV bids 25kb $101.60/bbl

Platts Mogas 92: MAY24: DARE Withdraws offer 25kb sold to GUNVORSG 25kb $1.22/bbl 8:30:04 Platts Mogas 92 spread: BAL MONTH/MAY24: ONYX bids
$102.10/bbl Platts Mogas 92 spread: MAY24/JUN24: PTT sold to BPSG* 25kb $1.12/bbl
Platts Mogas 92: MAY24: DARE Withdraws offer 25kb 25kb $1.48/bbl 8:09:13 Platts Mogas 92 spread: BAL MONTH/MAY24: FREEPTASIA
$102.10/bbl Platts Mogas 92 spread: MAY24/JUN24: PTT sold to BPSG* bids 25kb $1.10/bbl
Platts Mogas 92: MAY24: DARE Withdraws offer 25kb 25kb $1.47/bbl 8:12:58 Platts Mogas 92 spread: BAL MONTH/MAY24: ONYX bids
Platts Mogas 92: MAY24: AKARITRADING Withdraws offer 25kb $1.48/bbl 8:21:39 Platts Mogas 92 spread: BAL MONTH/MAY24: SIETCO bids
25kb $102.28/bbl Platts Mogas 92 spread: MAY24/JUN24: PTT sold to 25kb $1.10/bbl
Platts Mogas 92: MAY24: THEMEINT Withdraws offer 25kb FREEPTASIA* 25kb $1.48/bbl 8:21:48 Platts Mogas 92 spread: BAL MONTH/MAY24: BPSG bids
** Denotes OCO order. 25kb $1.48/bbl 8:23:13 Platts Mogas 92 spread: BAL MONTH/MAY24: DARE bids
Platts Mogas 92 spread: MAY24/JUN24: PTT sold to 25kb $0.90/bbl
Gasoline FOB Spore Paper Spreads ARIONINV* 25kb $1.48/bbl 8:25:11 Platts Mogas 92 spread: BAL MONTH/MAY24: VITOLSG bids
Platts Mogas 92 spread: MAY24/JUN24: PTT sold to 25kb $0.90/bbl
Trades (PGA page 4011)
FREEPTASIA* 25kb $1.48/bbl 8:26:33 Platts Mogas 92 spread: BAL MONTH/MAY24: THEMEINT
Platts Mogas 92 spread: BAL MONTH/MAY24: VITOLSG* sold bids 25kb $0.89/bbl
Platts Mogas 92 spread: MAY24/JUN24: PTT sold to
to ONYX 25kb $1.25/bbl 8:12:16
ARAMCOSG* 25kb $1.48/bbl 8:26:46 Platts Mogas 92 spread: BAL MONTH/MAY24: EQUINOR bids
Platts Mogas 92 spread: BAL MONTH/MAY24: TOTSA* sold 25kb $0.88/bbl
to GUNVORSG 25kb $1.20/bbl 8:14:54
ARAMCOSG* 25kb $1.48/bbl 8:29:12 Platts Mogas 92 spread: BAL MONTH/MAY24: ARIONINV
Platts Mogas 92 spread: BAL MONTH/MAY24: PTT sold to bids 25kb $0.80/bbl
ARAMCOSG* 25kb $1.15/bbl 8:15:17
ARIONINV* 25kb $1.48/bbl 8:29:15 Platts Mogas 92 spread: MAY24/JUN24: ARAMCOSG bids
Platts Mogas 92 spread: BAL MONTH/MAY24: PTT sold to 25kb $1.47/bbl
Platts Mogas 92 spread: MAY24/JUN24: PTT sold to BPSG*
25kb $1.48/bbl 8:29:20 Platts Mogas 92 spread: MAY24/JUN24: BPSG bids 25kb
Platts Mogas 92 spread: BAL MONTH/MAY24: PTT sold to $1.47/bbl
ARAMCOSG* 25kb $1.48/bbl 8:29:25 Platts Mogas 92 spread: MAY24/JUN24: EQUINOR bids 25kb
EQUINOR* 25kb $1.48/bbl 8:29:36 Platts Mogas 92 spread: MAY24/JUN24: SIETCO bids 25kb
Platts Mogas 92 spread: BAL MONTH/MAY24: PTT* sold to $1.46/bbl
ONYX 25kb $1.22/bbl 8:18:09
ARAMCOSG* 25kb $1.48/bbl 8:29:40 Platts Mogas 92 spread: MAY24/JUN24: DARE bids 25kb
Platts Mogas 92 spread: BAL MONTH/MAY24: TOTSA* sold * Denotes market maker. All times GMT $1.45/bbl
to ONYX 25kb $1.22/bbl 8:21:41
Bids (PGA page 4009) Platts Mogas 92 spread: MAY24/JUN24: P66SG bids 25kb
Platts Mogas 92 spread: BAL MONTH/MAY24: TOTSA* sold $1.45/bbl
to ONYX 25kb $1.22/bbl 8:26:39 Platts Mogas 92 spread: BAL MONTH/MAY24: ONYX bids
Platts Mogas 92 spread: MAY24/JUN24: TRAFI bids 25kb
25kb $1.19/bbl
ONYX* 25kb $1.20/bbl 8:29:50 Platts Mogas 92 spread: BAL MONTH/MAY24: ARAMCOSG
Platts Mogas 92 spread: MAY24/JUN24: THEMEINT bids
bids 50kb $1.17/bbl
Platts Mogas 92 spread: BAL MONTH/MAY24: PTT sold to 25kb $1.41/bbl
ONYX* 25kb $1.20/bbl 8:29:55 Platts Mogas 92 spread: BAL MONTH/MAY24: ARAMCOSG
Platts Mogas 92 spread: MAY24/JUN24: DARE bids 25kb
bids 25kb $1.15/bbl
Platts Mogas 92 spread: BAL MONTH/MAY24: ENGIESG* $1.35/bbl
sold to GUNVORSG 25kb $1.22/bbl 8:29:57 Platts Mogas 92 spread: BAL MONTH/MAY24: ARAMCOSG
Platts Mogas 92 spread: MAY24/JUN24: DARE bids 25kb
bids 25kb $1.13/bbl
ONYX* 25kb $1.20/bbl 8:30:00 Platts Mogas 92 spread: BAL MONTH/MAY24: GUNVORSG
Platts Mogas 92 spread: MAY24/JUN24: VITOLSG bids 25kb
bids 25kb $1.13/bbl
Platts Mogas 92 spread: BAL MONTH/MAY24: ENGIESG* $1.25/bbl

Platts Mogas 92 spread: JUN24/JUL24: ARAMCOSG bids bid 25kb $1.35/bbl Platts Mogas 92 spread: MAY24/JUN24: ONYX offers 25kb
25kb $1.53/bbl Platts Mogas 92 spread: JUN24/JUL24: TRAFI Withdraws bid $1.55/bbl
Platts Mogas 92 spread: JUN24/JUL24: BPSG bids 25kb 25kb $1.40/bbl Platts Mogas 92 spread: MAY24/JUN24: GUNVORSG offers
$1.50/bbl ** Denotes OCO order. 25kb $1.56/bbl
Platts Mogas 92 spread: JUN24/JUL24: DARE bids 25kb Offers (PGA page 4010) Platts Mogas 92 spread: MAY24/JUN24: ARAMCOSG offers
$1.50/bbl 25kb $1.59/bbl
Platts Mogas 92 spread: BAL MONTH/MAY24: ENGIESG
Platts Mogas 92 spread: JUN24/JUL24: FREEPTASIA bids Platts Mogas 92 spread: MAY24/JUN24: DARE offers 25kb
offers 25kb $1.22/bbl
25kb $1.50/bbl $1.60/bbl
Platts Mogas 92 spread: BAL MONTH/MAY24: TOTSA offers
Platts Mogas 92 spread: JUN24/JUL24: P66SG bids 25kb Platts Mogas 92 spread: MAY24/JUN24: FREEPTASIA offers
25kb $1.24/bbl
$1.50/bbl 25kb $1.60/bbl
Platts Mogas 92 spread: BAL MONTH/MAY24: BPSG offers
Platts Mogas 92 spread: JUN24/JUL24: SIETCO bids 25kb Platts Mogas 92 spread: MAY24/JUN24: DARE offers 25kb
25kb $1.25/bbl
$1.50/bbl $1.65/bbl
Platts Mogas 92 spread: BAL MONTH/MAY24: VITOLSG
Platts Mogas 92 spread: JUN24/JUL24: EQUINOR bids 25kb Platts Mogas 92 spread: MAY24/JUN24: EQUINOR offers
$1.45/bbl 25kb $1.68/bbl
Platts Mogas 92 spread: BAL MONTH/MAY24: ARAMCOSG
Platts Mogas 92 spread: JUN24/JUL24: TRAFI bids 25kb Platts Mogas 92 spread: JUN24/JUL24: ONYX offers 25kb
$1.45/bbl $1.60/bbl
Platts Mogas 92 spread: BAL MONTH/MAY24: FREEPTASIA
Platts Mogas 92 spread: JUN24/JUL24: ARIONINV bids 25kb Platts Mogas 92 spread: JUN24/JUL24: PTT offers 25kb
$1.40/bbl $1.60/bbl
Platts Mogas 92 spread: JUN24/JUL24: DARE bids 25kb Platts Mogas 92 spread: JUN24/JUL24: VITOLSG offers 25kb
$1.40/bbl $1.60/bbl
Platts Mogas 92 spread: BAL MONTH/MAY24: DARE offers
Platts Mogas 92 spread: JUN24/JUL24: VITOLSG bids 25kb Platts Mogas 92 spread: JUN24/JUL24: ONYX offers 25kb
25kb $1.40/bbl
$1.35/bbl $1.62/bbl
Withdrawals Platts Mogas 92 spread: JUN24/JUL24: P66SG offers 25kb
Platts Mogas 92 spread: BAL MONTH/MAY24: ONYX no $1.65/bbl
Platts Mogas 92 spread: BAL MONTH/MAY24: EQUINOR
longer bids 25kb $1.20/bbl Platts Mogas 92 spread: JUN24/JUL24: SIETCO offers 25kb
Platts Mogas 92 spread: BAL MONTH/MAY24: ONYX no $1.65/bbl
Platts Mogas 92 spread: BAL MONTH/MAY24: SIETCO offers
longer bids 25kb $1.20/bbl Platts Mogas 92 spread: JUN24/JUL24: EQUINOR offers
25kb $1.50/bbl
Platts Mogas 92 spread: BAL MONTH/MAY24: ONYX no 25kb $1.68/bbl
Platts Mogas 92 spread: MAY24/JUN24: PTT offers 25kb
longer bids 25kb $1.20/bbl Platts Mogas 92 spread: JUN24/JUL24: ARAMCOSG offers
$1.50/bbl
Platts Mogas 92 spread: BAL MONTH/MAY24: ARAMCOSG 25kb $1.69/bbl
Platts Mogas 92 spread: MAY24/JUN24: VITOLSG offers
no longer bids 25kb $1.15/bbl Platts Mogas 92 spread: JUN24/JUL24: BPSG offers 25kb
25kb $1.50/bbl
Platts Mogas 92 spread: BAL MONTH/MAY24: ARAMCOSG $1.70/bbl
Platts Mogas 92 spread: MAY24/JUN24: P66SG offers 25kb
no longer bids 25kb $1.13/bbl Platts Mogas 92 spread: JUN24/JUL24: DARE offers 25kb
$1.52/bbl
Platts Mogas 92 spread: BAL MONTH/MAY24: ARAMCOSG $1.70/bbl
Platts Mogas 92 spread: MAY24/JUN24: BPSG offers 25kb
no longer bids 25kb $1.11/bbl Platts Mogas 92 spread: JUN24/JUL24: FREEPTASIA offers
$1.54/bbl
Platts Mogas 92 spread: BAL MONTH/MAY24: ARAMCOSG 25kb $1.70/bbl
Platts Mogas 92 spread: MAY24/JUN24: SIETCO offers 25kb
no longer bids 25kb $1.11/bbl Withdrawals
$1.54/bbl
Platts Mogas 92 spread: MAY24/JUN24: ARIONINV no longer Platts Mogas 92 spread: BAL MONTH/MAY24: PTT
Platts Mogas 92 spread: MAY24/JUN24: DARE offers 25kb
bids 25kb $1.48/bbl Withdraws offer 175kb $1.25/bbl
$1.55/bbl
Platts Mogas 92 spread: MAY24/JUN24: FREEPTASIA Platts Mogas 92 spread: BAL MONTH/MAY24: PTT
Platts Mogas 92 spread: MAY24/JUN24: ONYX offers 25kb
Withdraws bid 25kb $1.47/bbl Withdraws offer 100kb $1.22/bbl
$1.55/bbl
Platts Mogas 92 spread: MAY24/JUN24: TRAFI Withdraws Platts Mogas 92 spread: BAL MONTH/MAY24: PTT

Withdraws offer 25kb $1.35/bbl H2JUN24: **BPSG offers 25kt $708.00/mt MAY24: DVTRADING offers 50kb $106.70/bbl
Platts Mogas 92 spread: BAL MONTH/MAY24: PTT H2JUN24: **AGTASIA offers 25kt $711.00/mt MAY24: DARE offers 50kb $106.80/bbl
Withdraws offer 25kb $1.40/bbl H2JUN24: SIETCO offers 25kt $717.00/mt MAY24: ERACOMM offers 50kb $106.80/bbl
Platts Mogas 92 spread: BAL MONTH/MAY24: TOTSA no Withdrawals BAL MONTH: BPSG offers 50kb $105.90/bbl
longer offers 25kb $1.20/bbl
No offers reported BAL MONTH: DARE offers 50kb $106.50/bbl
Platts Mogas 92 spread: BAL MONTH/MAY24: ENGIESG no
** Denotes OCO order. Withdrawals
MAY24: ERACOMM Withdraws offer 50kb $107.40/bbl
Platts Mogas 92 spread: BAL MONTH/MAY24: PTT no longer
Naphtha C+F Japan Cargo Spreads ** Denotes OCO order.
Platts Mogas 92 spread: BAL MONTH/MAY24: TOTSA no Trades (PGA page 2325)
longer offers 25kb $1.22/bbl Jet Kero FOB Spore Paper Spreads
H2MAY24/H2JUN24: TRAFI sold to MARUBENI* 25kt $3.50/
Platts Mogas 92 spread: BAL MONTH/MAY24: TOTSA no mt 8:27:51 Trades (PGA page 4023)
longer offers 25kb $1.22/bbl * Denotes market maker. All times GMT
MAY24/JUN24: DARE sold to ANTIMO* 50kb $0.00/
Platts Mogas 92 spread: BAL MONTH/MAY24: VITOLSG no Bids (PGA page 2323) bbl 8:29:54
No bids reported MAY24: DARE* sold to AGT 50kb $-1.85/bbl 8:29:38
Platts Mogas 92 spread: MAY24/JUN24: PTT Withdraws offer
Withdrawals * Denotes market maker. All times GMT
25kb $1.50/bbl
H2MAY24/H2JUN24: MARUBENI no longer bids 25kt Bids (PGA page 4021)
Platts Mogas 92 spread: MAY24/JUN24: TRAFI Withdraws
offer 25kb $1.55/bbl $3.50/mt BAL MONTH/MAY24: ANTIMO bids 50kb $-0.75/bbl
Platts Mogas 92 spread: JUN24/JUL24: PTT Withdraws offer BAL MONTH/MAY24: ARAMCOSG bids 50kb $-0.8/bbl
25kb $1.60/bbl Offers (PGA page 2324)
BAL MONTH/MAY24: BPSG bids 50kb $-0.8/bbl
Platts Mogas 92 spread: JUN24/JUL24: TRAFI Withdraws No offers reported BAL MONTH/MAY24: CONDACAP bids 50kb $-0.8/bbl
offer 25kb $1.70/bbl
Withdrawals BAL MONTH/MAY24: DARE bids 50kb $-0.8/bbl
No offers reported MAY24/JUN24: CONDACAP bids 50kb $0.00/bbl
** Denotes OCO order. MAY24/JUN24: ERACOMM bids 50kb $-0.03/bbl
Naphtha C+F Cargo
MAY24: ANTIMO bids 50kb $-2.15/bbl
Trades (PGA page 2325) Jet Kero FOB Spore Paper MAY24: ERACOMM bids 50kb $-2.19/bbl
No trades reported Trades (PGA page 4023) MAY24: DARE bids 50kb $-2.25/bbl
No trades reported MAY24: MERCURIARESOURCES bids 50kb $-2.25/bbl
Bids (PGA page 2323)
* Denotes market maker. All times GMT MAY24: AGT bids 50kb $-2.3/bbl
H2JUN24: BBEN bids 25kt $706.00/mt Bids (PGA page 4021) MAY24: BPSG bids 50kb $-2.3/bbl
Withdrawals MAY24: CONDACAP bids 50kb $-2.3/bbl
MAY24: ERACOMM bids 50kb $105.90/bbl
No bids reported MAY24: EQUINOR bids 50kb $-2.3/bbl
MAY24: DVTRADING bids 50kb $105.80/bbl
MAY24: DARE bids 50kb $105.70/bbl MAY24: ARAMCOSG bids 50kb $-2.4/bbl
Offers (PGA page 2324)
BAL MONTH: DARE bids 50kb $104.90/bbl MAY24: DVTRADING bids 50kb $-2.4/bbl
H2MAY24: **BPSG offers 25kt $719.00/mt Withdrawals
Withdrawals
H2MAY24: **TRAFI offers 25kt $722.00/mt MAY24/JUN24: ANTIMO no longer bids 50kb $0.00/bbl
MAY24: ERACOMM Withdraws bid 50kb $105.00/bbl
H1JUN24: **AGTASIA offers 25kt $716.00/mt ** Denotes OCO order. MAY24/JUN24: DARE Withdraws bid 50kb $0.00/bbl
H1JUN24: **TRAFI offers 25kt $717.00/mt Offers (PGA page 4022)

** Denotes OCO order. BAL MONTH: BPSG bids 50kb $108.10/bbl BAL MONTH/MAY24: SINOHKPET bids 50kb $-0.08/bbl
Offers (PGA page 4022) BAL MONTH: DARE bids 50kb $107.80/bbl BAL MONTH/MAY24: AGT bids 50kb $-0.1/bbl
BAL MONTH/MAY24: ANTIMO offers 50kb $0.10/bbl BAL MONTH: DARE bids 50kb $107.70/bbl BAL MONTH/MAY24: EQUINOR bids 50kb $-0.1/bbl
BAL MONTH/MAY24: ARAMCOSG offers 50kb $0.10/bbl BAL MONTH: DVTRADING bids 50kb $107.60/bbl MAY24/JUN24: AGT bids 50kb $0.30/bbl
BAL MONTH/MAY24: BPSG offers 50kb $0.10/bbl Withdrawals MAY24/JUN24: ANTIMO bids 50kb $0.30/bbl
BAL MONTH/MAY24: DARE offers 50kb $0.10/bbl MAY24: ERACOMM Withdraws bid 50kb $107.00/bbl MAY24/JUN24: CONDACAP bids 50kb $0.30/bbl
BAL MONTH/MAY24: CONDACAP offers 50kb $0.30/bbl MAY24: ERACOMM Withdraws bid 50kb $106.70/bbl MAY24/JUN24: DARE bids 50kb $0.30/bbl
MAY24/JUN24: DARE offers 50kb $0.01/bbl BAL MONTH: DVTRADING Withdraws bid 50kb $107.00/bbl MAY24/JUN24: DVTRADING bids 50kb $0.30/bbl
MAY24/JUN24: ERACOMM offers 50kb $0.10/bbl ** Denotes OCO order. MAY24/JUN24: MERCURIARESOURCES bids 50kb $0.30/bbl
MAY24/JUN24: ANTIMO offers 50kb $0.35/bbl Offers (PGA page 4018) MAY24/JUN24: SINOHKPET bids 50kb $0.25/bbl
MAY24/JUN24: CONDACAP offers 50kb $0.35/bbl MAY24: DVTRADING offers 50kb $108.20/bbl Withdrawals
MAY24: MERCURIARESOURCES offers 50kb $-1.75/bbl MAY24: DVTRADING offers 50kb $108.40/bbl BAL MONTH/MAY24: DARE no longer bids 50kb $-0.05/bbl
MAY24: ARAMCOSG offers 50kb $-1.65/bbl MAY24: DVTRADING offers 50kb $108.60/bbl MAY24/JUN24: SINOHKPET Withdraws bid 50kb $0.25/bbl
MAY24: AGT offers 50kb $-1.6/bbl MAY24: DARE offers 50kb $108.70/bbl ** Denotes OCO order.
MAY24: ANTIMO offers 50kb $-1.6/bbl MAY24: DARE offers 50kb $108.80/bbl Offers (PGA page 4018)
MAY24: BPSG offers 50kb $-1.6/bbl MAY24: ERACOMM offers 50kb $108.80/bbl BAL MONTH/MAY24: DVTRADING offers 50kb $0.20/bbl
MAY24: CONDACAP offers 50kb $-1.6/bbl MAY24: AGT offers 50kb $109.00/bbl BAL MONTH/MAY24: ANTIMO offers 50kb $0.25/bbl
MAY24: DVTRADING offers 50kb $-1.55/bbl BAL MONTH: DARE offers 50kb $108.90/bbl BAL MONTH/MAY24: CONDACAP offers 50kb $0.25/bbl
Withdrawals BAL MONTH: DARE offers 50kb $109.00/bbl BAL MONTH/MAY24: AGT offers 50kb $0.30/bbl
MAY24: DARE no longer offers 50kb $-1.85/bbl BAL MONTH: DVTRADING offers 50kb $109.00/bbl BAL MONTH/MAY24: EQUINOR offers 50kb $0.30/bbl
** Denotes OCO order. Withdrawals BAL MONTH/MAY24: SINOHKPET offers 50kb $0.30/bbl
MAY24: T3GT no longer offers 50kb $108.20/bbl MAY24/JUN24: ANTIMO offers 50kb $0.40/bbl
Gasoil FOB Spore Paper ** Denotes OCO order. MAY24/JUN24: CONDACAP offers 50kb $0.40/bbl
Trades (PGA page 4019) MAY24/JUN24: AGT offers 50kb $0.42/bbl
Gasoil FOB Spore Paper Spreads MAY24/JUN24: DARE offers 50kb $0.42/bbl
MAY24: HOTEI sold to DARE* 50kb $108.05/bbl 8:29:42
MAY24: ONYX sold to DARE* 50kb $108.05/bbl 8:29:47 Trades (PGA page 4019) MAY24/JUN24: DVTRADING offers 50kb $0.42/bbl
MAY24: T3GT* sold to DARE 50kb $108.20/bbl 8:29:52 BAL MONTH/MAY24: DARE* sold to PETROCHINA 50kb MAY24/JUN24: MERCURIARESOURCES offers 50kb
$0.10/bbl 8:29:45 $0.45/bbl
BAL MONTH/MAY24: AGT sold to DARE* 50kb $-0.05/ Withdrawals
bbl 8:29:59 BAL MONTH/MAY24: DARE no longer offers 50kb $0.10/bbl
MAY24: DARE bids 50kb $108.10/bbl
MAY24/JUN24: ENEOSSG* sold to DARE 50kb $0.34/ MAY24/JUN24: ENEOSSG no longer offers 50kb $0.34/bbl
MAY24: DARE bids 50kb $108.05/bbl bbl 8:29:50 MAY24/JUN24: ENEOSSG Withdraws offer 50kb $0.37/bbl
MAY24: DVTRADING bids 50kb $107.90/bbl * Denotes market maker. All times GMT ** Denotes OCO order.
MAY24: DVTRADING bids 50kb $107.80/bbl Bids (PGA page 4017)
MAY24: T3GT bids 50kb $107.80/bbl FO 180 CST 3.5% FOB Spore Paper
BAL MONTH/MAY24: ANTIMO bids 50kb $-0.05/bbl
MAY24: ERACOMM bids 50kb $107.60/bbl
BAL MONTH/MAY24: DVTRADING bids 50kb $-0.05/bbl Trades (PGA page 4027)
MAY24: AGT bids 50kb $107.51/bbl
BAL MONTH/MAY24: GUNVORSG bids 50kb $-0.05/bbl
No trades reported
MAY24: DVTRADING bids 50kb $107.50/bbl

* Denotes market maker. All times GMT MAY24: PRIME bids 5kt $18.00/mt ** Denotes OCO order.
Bids (PGA page 4025) MAY24: P66SG bids 5kt $17.75/mt Offers (PGA page 4026)
MAY24/JUN24: DARE bids 5kt $0.00/mt MAY24: VITOLSG bids 5kt $17.75/mt BAL MONTH: BPSG offers 5kt $18.00/mt
MAY24/JUN24: ONYX bids 5kt $-0.25/mt MAY24: BPSG bids 5kt $17.00/mt BAL MONTH: ONYX offers 5kt $18.25/mt
Withdrawals MAY24: GOODECAPLTD bids 5kt $17.00/mt MAY24: ONYX offers 5kt $18.75/mt
No bids reported MAY24: ONYX bids 5kt $492.25/mt MAY24: GOODECAPLTD offers 5kt $19.00/mt
** Denotes OCO order. MAY24: DARE bids 5kt $492.00/mt MAY24: DARE offers 5kt $19.25/mt
Offers (PGA page 4026) MAY24: GLENCORE bids 5kt $492.00/mt MAY24: ONYX offers 5kt $19.25/mt
MAY24/JUN24: ONYX offers 5kt $1.00/mt MAY24: THEMEINT bids 5kt $492.00/mt MAY24: P66SG offers 5kt $19.25/mt
MAY24/JUN24: DARE offers 5kt $2.25/mt MAY24: AKARITRADING bids 5kt $491.50/mt MAY24: VITOLSG offers 5kt $19.25/mt
Withdrawals MAY24: AKARITRADING bids 5kt $491.00/mt MAY24: BPSG offers 5kt $19.50/mt
No offers reported MAY24: VITOLSG bids 5kt $491.00/mt MAY24: DARE offers 5kt $19.50/mt
** Denotes OCO order. MAY24: DARE bids 5kt $490.50/mt MAY24: DARE offers 5kt $493.00/mt
MAY24: DARE bids 5kt $490.50/mt MAY24: GLENCORE offers 5kt $493.50/mt
FO 380 CST 3.5% FOB Spore Paper MAY24: ONYX bids 5kt $490.00/mt MAY24: DARE offers 5kt $494.50/mt
Trades (PGA page 4027) BAL MONTH/MAY24: DARE bids 5kt $-3/mt MAY24: DARE offers 5kt $495.50/mt
BAL MONTH/MAY24: DVTRADING bids 5kt $-3/mt MAY24: THEMEINT offers 5kt $495.50/mt
MAY24: GUNVORSG* sold to PRIME 5kt $492.75/mt 8:29:15
BAL MONTH/MAY24: P66SG bids 5kt $-3/mt BAL MONTH/MAY24: DARE offers 5kt $-2/mt
MAY24: VITOLSG* sold to ONYX 5kt $493.00/mt 8:29:40
BAL MONTH/MAY24: ONYX bids 5kt $-3.25/mt BAL MONTH/MAY24: ONYX offers 5kt $-2/mt
MAY24: GUNVORSG sold to ONYX* 5kt $493.00/mt 8:29:46
MAY24/JUN24: DARE bids 5kt $-0.5/mt BAL MONTH/MAY24: P66SG offers 5kt $-2/mt
MAY24: GUNVORSG sold to ONYX* 10kt $493.00/mt 8:29:48
MAY24/JUN24: ONYX bids 5kt $-0.5/mt BAL MONTH/MAY24: TRAFI offers 5kt $-1.5/mt
MAY24: VITOLSG* sold to ONYX 5kt $493.00/mt 8:29:53
MAY24/JUN24: PRIME bids 5kt $-0.5/mt MAY24/JUN24: IDEMITSU offers 5kt $0.00/mt
JUN24: PRIME* sold to MERCURIARESOURCES 5kt
$493.25/mt 8:29:15 MAY24/JUN24: ONYX bids 5kt $-0.75/mt MAY24/JUN24: P66SG offers 5kt $0.00/mt
MAY24/JUN24: MARKET sold to PRIME* 5kt $-0.50/ MAY24/JUN24: P66SG bids 5kt $-0.75/mt MAY24/JUN24: P66SG offers 5kt $0.00/mt
mt 8:29:15 MAY24/JUN24: P66SG bids 5kt $-0.75/mt MAY24/JUN24: VITOLSG offers 5kt $0.00/mt
BAL MONTH: BPSG* sold to MERCURIARESOURCES 5kt MAY24/JUN24: THEMEINT bids 5kt $-0.75/mt MAY24/JUN24: DARE offers 5kt $0.25/mt
$16.25/mt 8:29:49 MAY24/JUN24: VITOLSG bids 5kt $-0.75/mt Withdrawals
Withdrawals BAL MONTH: BPSG no longer offers 5kt $16.25/mt
MAY24: ONYX no longer bids 5kt $493.00/mt MAY24: GUNVORSG no longer offers 5kt $492.75/mt
BAL MONTH: BPSG bids 5kt $14.00/mt MAY24: ERACOMM Withdraws bid 5kt $490.50/mt MAY24: VITOLSG no longer offers 5kt $493.00/mt
MAY24: DARE bids 5kt $18.25/mt BAL MONTH/MAY24: THEMEINT Withdraws bid 5kt JUN24: PRIME no longer offers 5kt $493.25/mt
MAY24: DARE bids 5kt $18.00/mt $-3.25/mt ** Denotes OCO order.

April 10, 2024
European products ($/mt)

Mediterranean (PGA page 1114)
FOB (Italy) CIF (Genova/Lavera) MOPL Diff
Prem Unl 10ppm AAWZA00 919.25–919.75 919.500 +0.500 AAWZB00 933.00–933.50 933.250 -2.250
Naphtha PAAAI00 648.00–648.50 648.250 +3.750 PAAAH00 666.50–667.00 666.750 +0.250
Jet aviation fuel AAIDL00 841.50–842.00 841.750 0.000
Gasoil 0.1% AAVJI00 817.75–818.25 818.000 -2.500 AAVJJ00 830.75–831.25 831.000 -4.750 AMOPI00 11.89 0.000
10ppm ULSD AAWYY00 819.50–820.00 819.750 -9.250 AAWYZ00 833.50–834.00 833.750 -11.750 AMOPN00 3.30 -4.750
1% PUAAK00 504.50–505.00 504.750 -5.000 PUAAJ00 516.75–517.25 517.000 -5.000
3.5% PUAAZ00 479.00–479.50 479.250 -2.250 PUAAY00 491.00–491.50 491.250 -2.250
Northwest Europe cargoes (PGA page 1110)
CIF (Basis ARA) FOB NWE MOPL Diff
Gasoline 10ppm AAXFQ00 978.25–978.75 978.500 -2.750
Naphtha Swap PAAAJ00 678.50–679.00 678.750 -1.500
Naphtha Phy PAAAL00 679.75–680.25 680.000 -1.750
Jet PJAAU00 868.00–868.50 868.250 -4.500 PJAAV00 849.00–849.50 849.250 -4.500 AMOPJ00 1.40 -0.700
Ultra low sulfur diesel 10ppm AAVBG00 841.75–842.25 842.000 -11.500 AAVBF00 829.50–830.00 829.750 -11.500 AMOPL00 5.20 -3.360
Gasoil 0.1% AAYWS00 813.00–813.50 813.250 -8.000 AAYWR00 789.25–789.75 789.500 -8.000 AMOPH00 0.26 -0.020
Diesel 10ppm NWE AAWZC00 844.50–845.00 844.750 -11.500 AAWZD00 829.25–829.75 829.500 -11.500
Diesel 10 PPM UK AAVBH00 846.25–846.75 846.500 -11.500 AUKMA00 9.701 -3.356
1% PUAAL00 513.00–513.50 513.250 -5.250 PUAAM00 496.75–497.25 497.000 -5.000
3.5% PUABA00 465.50–466.00 465.750 -7.250 PUABB00 450.50–451.00 450.750 -7.000
0.5-0.7% straight run PKABA00 645.50–646.50 646.000 -2.750
Low sulfur VGO AAHMZ00 747.00–748.00 747.500 -3.500 AAHMX00 724.50–725.50 725.000 -2.750
High sulfur VGO AAHND00 733.25–734.25 733.750 -3.500 AAHNB00 710.75–711.75 711.250 -2.750
Northwest Europe barges (PGA pages 1112 & 1380)
FOB Rotterdam MOPL Diff
Eurobob AAQZV00 923.25–923.75 923.500 -0.750
E10 Eurobob AGEFA00 922.000 +2.000
Unleaded 98 AAKOD00 1020.25–1020.75 1020.500 +4.250
Premium Unleaded PGABM00 933.50–934.00 933.750 -0.750
Reformate AAXPM00 1021.500 +4.250
MTBE* PHALA00 1174.00–1174.50 1174.250 0.000
Naphtha Phy PAAAM00 675.75–676.25 676.000 -1.750
Jet PJABA00 864.25–864.75 864.500 -2.500 AMOPK00 1.11 +0.970
Gasoil 50 ppm AAUQC00 826.00–826.50 826.250 -10.000
Gasoil 0.1%* AAYWT00 801.00–801.50 801.250 -14.750 AMOPG00 3.29 -6.110
10 ppm* AAJUS00 830.00–830.50 830.250 -10.000 AMOPM00 3.33 -0.770
1% PUAAP00 496.75–497.25 497.000 -5.000
3.5% PUABC00 466.50–467.00 466.750 -7.250
Fuel Oil 3.5% 500 CST PUAGN00 462.50–463.00 462.750 -7.250
Low sulfur VGO AAHNF00 721.50–722.50 722.000 -2.750
High sulfur VGO AAHNI00 707.75–708.75 708.250 -2.750
*FOB Amsterdam-Rotterdam-Antwerp
Rotterdam bunker (PGA page 1112)
380 CST PUAFN00 467.50–468.50 468.000 -7.000

April 10, 2024
US products (¢/gal) (PGA page 158)

US West Coast pipeline
Los Angeles San Francisco
Unleaded 84 AAUHA00 323.11–323.21 323.160 +2.600 PGADG00 364.11–364.21 364.160 -4.400
Premium 90 PGABG00 348.11–348.21 348.160 +2.600 PGABO00 391.11–391.21 391.160 -4.400
CARBOB AAKYJ00 327.11–327.21 327.160 +2.600 AAKYN00 367.11–367.21 367.160 -4.400
CARBOB PREM AAKYL00 352.11–352.21 352.160 +2.600 AAKYP00 394.11–394.21 394.160 -4.400
Jet PJAAP00 266.71–266.81 266.760 +0.810 PJABC00 266.71–266.81 266.760 +0.810
ULS (EPA) Diesel POAET00 281.71–281.81 281.760 +3.060 POAEY00 285.96–286.06 286.010 +8.310
CARB diesel POAAK00 281.71–281.81 281.760 +3.060 POAAL00 285.96–286.06 286.010 +8.310
Seattle Portland
Unleaded 84 AAXJE00 314.11–314.21 314.160 -0.400 AAXJC00 316.11–316.21 316.160 -0.400
Premium 90 AAXJF00 351.11–351.21 351.160 -0.400 AAXJD00 353.11–353.21 353.160 -0.400
Jet PJABB00 266.71–266.81 266.760 +0.810
ULS (EPA) Diesel AAUEX00 271.56–271.66 271.610 +3.060 AAUEY00 272.71–272.81 272.760 +3.060
Phoenix
RBOB unleaded 84 AADDP00 349.11–349.21 349.160 +10.600
RBOB premium 89.5 PPXDJ00 374.11–374.21 374.160 +10.600
Differential to NYMEX
CARBOB AANVX00 48.95/49.05 49.000 0.000
Jet Fuel AANVY00 -4.05/-3.95 -4.000 -2.250
ULS (EPA) Diesel AANVZ00 10.95/11.05 11.000 0.000
CARB Diesel AANWA00 10.95/11.05 11.000 0.000
US West Coast waterborne
Los Angeles
Unleaded 87 PGADI00 323.11–323.21 323.160 +2.600
Jet PJABI00 265.71–265.81 265.760 +0.810

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Asia-Pacific/Arab Gulf Marketscan

Asia products gal, or 5.2%, to $4.3832/gal from March 11 to April

Singapore paper (PGA page 2655)

Balance April ($/barrel) May ($/barrel) June ($/barrel)

Arab Gulf Front Month Swaps (PGA page 2638)

Balance April* ($/barrel) May ($/barrel) June ($/barrel)

© 2024 by S&P Global Inc. All rights reserved. 2

Asia products In market news, New Rise Renewables announced

© 2024 by S&P Global Inc. All rights reserved. 3

© 2024 by S&P Global Inc. All rights reserved. 4

© 2024 by S&P Global Inc. All rights reserved. 5

European products ($/mt)

© 2024 by S&P Global Inc. All rights reserved. 6

Bids: PLATTS FUJAIRAH MOGAS CARGO MOC:

© 2024 by S&P Global Inc. All rights reserved. 7

Asia Pacific and Middle East crude assessments ($/barrel)

© 2024 by S&P Global Inc. All rights reserved. 8

© 2024 by S&P Global Inc. All rights reserved. 9

© 2024 by S&P Global Inc. All rights reserved. 10

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© 2024 by S&P Global Inc. All rights reserved. 13

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Gasoil .1%S (1000ppm) FOB ARA Barge AAYWT00 AMOPG00

© 2024 by S&P Global Inc. All rights reserved. 20

China tanker fixtures

ABUNDANCE III 268 Mal Blend Malaysia Dongjiakou 4/1/2024 TBA

© 2024 by S&P Global Inc. All rights reserved. 21

International Dirty Tanker Fixtures (PGT page 2950)

Tonegawa 270 CR Apr25 PG-China rnr Glasford

Belmar 80 CR Apr15 STS Southwold-Rostock, Demurrage w230, $90k/d Rosneft DE

Evridiki 130 CR Apr24 WAF-UKCM rnr Vitol

Front Beaver 270 CR May11 USGC-China $8.335m Unipec

© 2024 by S&P Global Inc. All rights reserved. 22

International dirty tanker fixtures (continued) (PGT page 2950)

© 2024 by S&P Global Inc. All rights reserved. 23

International clean tanker fixtures (PGT page 2904)

FPMC P Ideal 90 ULSD Apr24 PG-UKC $4.9m KPC

St Helen 37 UNL Apr18 ARA-WAF w200 ST

Nave Pulsar 37 UNL Apr18 Lavera-TA w210 Total

Jag Pranav 38 CL Apr18 USGC-Chile, Demurrage $2.825m, $47k/d Exxon

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© 2024 by S&P Global Inc. All rights reserved. 25

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© 2024 by S&P Global Inc. All rights reserved. 30

April 10, 2024

European products ($/mt)

© 2024 by S&P Global Inc. All rights reserved. 31

April 10, 2024

US products (¢/gal) (PGA page 158)