Apag 20240918

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Asia-Pacific/Arab Gulf Marketscan

Volume 43 / Issue 180 / September 18, 2024
Asia products
Code Mid Change Code Mid Change Code Mid Change
Singapore (PGA page 2002)
FOB Singapore ($/barrel) MOPS strip Premium/Discount
Naphtha PAAAP00 70.54–70.58 70.560 +0.010 AAPKA00 69.99–70.03 70.010 +0.040
Gasoline 97 unleaded PGAMS00 84.55–84.59 84.570 +1.220 AAPKE00* 14.54/14.58 14.560 +1.180
Gasoline 95 unleaded PGAEZ00 83.84–83.88 83.860 +1.320 AAPKF00* 13.83/13.87 13.850 +1.280
Gasoline 95 unleaded AGUMS00 82.700 +1.110 AGUMA00**** 1.160 +0.210
Gasoline 92 unleaded PGAEY00 79.22–79.26 79.240 +1.810 AAPKG00* 9.21/9.25 9.230 +1.770
Gasoline 92 unleaded AAXEQ00 78.75–78.79 78.770 +0.940 AAXER00 0.45/0.49 0.470 +0.870
Gasoline 91 unleaded AAYNA00 81.460 +1.810 AAYNB00 2.690 +0.870
Gasoline 92 unleaded 500 ppm PGAFY00*** 0.720 +0.870
CFR Naphtha AAOVF00 71.310 +0.040 AAOVG00 1.300 0.000
Kerosene PJABF00 83.86–83.90 83.880 +1.090 AAPJZ00 84.01–84.05 84.030 +1.070 PJACU00 -0.17/-0.13 -0.150 +0.020
Gasoil 10 ppm AAOVC00 83.45–83.49 83.470 +1.310 AAOVD00** -0.49/-0.45 -0.470 +0.050
Gasoil 50 ppm AAPPF00 83.36–83.40 83.380 +1.310 AAPPH00** -0.58/-0.54 -0.560 +0.050
Gasoil 0.05% sulfur AAFEX00 82.84–82.88 82.860 +1.410 AAFFB00** -1.10/-1.06 -1.080 +0.150
Gasoil 0.25% sulfur AACUE00 82.67–82.71 82.690 +1.460 AACQI00** -1.27/-1.23 -1.250 +0.200
Gasoil POABC00 83.45–83.49 83.470 +1.310 AAPJY00 83.92–83.96 83.940 +1.260 POAIC00** -0.49/-0.45 -0.470 +0.050
FO 180 CST 2% ($/mt) PUAXS00 442.44–442.48 442.460 +2.270
HSFO 180 CST ($/mt) PUADV00 432.70–432.74 432.720 +2.220 AAPJX00 417.08–417.12 417.100 +1.430 AAGZF00 15.60/15.64 15.620 +0.790
HSFO 380 CST ($/mt) PPXDK00 422.23–422.27 422.250 +0.660 AAPJW00 405.15–405.19 405.170 +0.660 PPXDL00 17.06/17.10 17.080 0.000
Marine Fuel 0.5% ($/mt) AMFSA00 549.480 -4.390 FOFSA00 530.010 -3.510 FOFSB00 19.470 -0.880
Ex-Wharf 380 CST ($/mt) AAFER00 435.50–436.50 436.000 +2.000
Ex-Wharf 500 CST ($/mt) AAVUP00 430.50–431.50 431.000 +2.000
Bitumen Pen 60-70 ($/mt) BTSGA00 515.000 -0.250 BTSGB00***** 109.830 -0.910
*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 604.75–607.25 606.000 +0.500 AAPKH00 20.75/21.25 21.000 0.000
Naphtha LR2 ($/mt) 613.20–615.70 614.450 +0.230
Platts Asia and Middle Eastern Gasoline
AAIDA00
Gasoline 95 unleaded AAICY00 80.81–80.85 80.830 +1.560 AAWUJ00 3.63/3.67 3.650 +0.100
Gasoline 95 unleaded CFR AAWUK00 4.63/4.67 4.650 Daily Market Analysis
Gasoline 92 unleaded AAGJA00 76.210 +2.050 AAGZA00 3.250 +0.300
Kerosene PJAAA00 80.61–80.65 80.630 +1.090 PJACV00 1.63/1.67 1.650 -0.190
Gasoil 10 ppm AAIDT00 80.00–80.04 80.020 +1.310 AAIDU00* 1.60/1.64 1.620 +0.120
FOB Singapore 92 RON gasoline swaps crack
Gasoil 0.005% sulfur AASGJ00 79.94–79.98 79.960 +1.360 AASGK00* 1.54/1.58 1.560 +0.170 spread widens 15.48% on day
Gasoil 0.05% sulfur AAFEZ00 79.13–79.17 79.150 +1.240 AAFFD00* 0.73/0.77 0.750 +0.050
Gasoil 0.25% sulfur AACUA00 77.88–77.92 77.900 +1.240 AACUC00* -0.52/-0.48 -0.500 +0.050 Malaysia’s gasoline demand likely to remain firm on
Gasoil 80.00–80.04 80.020 +1.310 1.60/1.64 1.620 +0.120
POAAT00 POAID00*
limited EV adoption
HSFO 180 CST ($/mt) PUABE00 410.96–411.00 410.980 +1.920 AAXJA00 36.98/37.02 37.000 +1.000
HSFO 380 CST ($/mt) AAIDC00 400.49–400.53 400.510 +0.360 AAXJB00 37.98/38.02 38.000 -1.000
HSFO 380/180 spread ($/mt) PPXDM00 -10.49/-10.45 -10.470 -1.560
Marine Fuel 0.5% Fujairah ($/mt) FOFFB00*** 20.000 0.000 The Asian gasoline complex is expected to remain
Ex-Wharf Fujairah 380 CST** ($/mt) AAYBG00 52.970 -1.260 stable on Sept. 18, amid planned refinery maintenance
*Premium to MOPAG gasoil during loading. **Ex-Wharf differential represents premium/discount to the MOPAG 180 CST strip. ***MF 0.5% differential in Japan.
represents premium/discount to the MOPFUJ MF 0.5% strip.
www.spglobal.com/commodityinsights
Asia-Pacific/Arab Gulf Marketscan September 18, 2024
Asia products Japan’s largest refiner, ENEOS, has shut its sole
Code Mid Change Code Mid Change
153,000 b/d crude distillation unit at the Negishi
Middle East physical oil assessments (PGA pages 2004 and 2018) refinery in Tokyo Bay from Sept. 9 to mid-November for
FOB Fujairah ($/barrel) MOPAG Strip scheduled maintenance, a company spokesperson said
Naphtha ($/mt) NFJSA00 628.160 +2.780 NFJTA00 607.160 +2.780 on Sept. 17.
Gasoline 95 unleaded AFUJA00 82.870 +1.250 AFUJB00 79.220 +1.150
Gasoline 92 unleaded RFJFS00 78.660 +1.330 RAGTA00 75.410 +1.030 The US RBOB-Brent crack spread was pegged at
Kerosene AFUJF00 82.480 +0.870 AFUJG00 80.830 +1.060 $9.90/b at 0300 GMT on Sept. 18, narrowing from
Gasoil 10 ppm AFUJP00 82.180 +1.370
Gasoil 500 ppm AFUJN00 81.310 +1.300 $10.21/b at the Asian close on Sept. 17.
Gasoil AFUJK00 82.180 +1.370 AFUJL00 80.560 +1.250 The front-month FOB Singapore 92 RON gasoline
HSFO 380 CST ($/mt) AFUJQ00 446.080 +1.370 AFUJR00 408.080 +2.370
Ex-Wharf 380 CST ($/mt) AAYBF00 451.000 +1.000 AAYBD00 398.030 +2.260 swaps crack spread against Brent swaps widened 74
MOPFUJ Strip cents/b on the day to $5.52/b on Sept. 17, Commodity
Marine Fuel 0.5% ($/mt)** AMFFA00 554.160 -3.550 FOFFA00 534.160 -3.550 Insights data showed.
*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 741.00–743.00 742.000 +17.000
Sep 16 (PGA page 2022)
Singapore demurrage (PGT pages 2910 and 2960) Light distillates FUJLD04 5565 -4
$/day Middle distillates FUJMD04 3046 -100
Demurrage Clean AALPY00 22750.000 -250.000 Heavy distillates and residues FUJHD04 9656 -371
Demurrage Dirty AALQA00 41500.000 0.000 Source: FEDCom, S&P Global Commodity Insights
Singapore paper (PGA page 2655)
Balance September ($/barrel) October ($/barrel) November ($/barrel)

Naphtha Japan ($/mt) RAXFM00 NA NANA AAXFE00 649.50–650.00 649.750 +2.750 AAXFF00 643.75–644.25 644.000 +2.500
Naphtha AAPLD00 NA–NA NA NANA PAAAQ00 69.88–69.92 69.900 +0.050 PAAAR00 69.23–69.27 69.250 0.000
Gasoline 95 unleaded AGUMB00 NA NANA AGUMM01 82.400 +1.010 AGUMM02 80.600 +0.240
Gasoline 92 unleaded AAXEK00 NA–NA NA NANA AAXEL00 78.53–78.57 78.550 +0.860 AAXEM00 77.18–77.22 77.200 +0.240
Reforming Spread AAXEN00 NA/NA NA NANA AAXEO00 8.63/8.67 8.650 +0.810 AAXEP00 7.93/7.97 7.950 +0.240
Kerosene AAPLE00 83.81–83.85 83.830 +1.060 PJABS00 84.00–84.04 84.020 +1.050 PJABT00 83.96–84.00 83.980 +0.950
Gasoil AAPLF00 83.63–83.67 83.650 +1.300 POAFC00 83.92–83.96 83.940 +1.240 POAFG00 83.94–83.98 83.960 +1.140
HSFO 180 CST ($/mt) AAPML00 428.98–429.02 429.000 +1.900 PUAXZ00 415.23–415.27 415.250 +1.550 PUAYF00 403.93–403.97 403.950 +0.250
HSFO 380 CST ($/mt) AAPKB00 418.93–418.97 418.950 +1.650 AAPKC00 403.43–403.47 403.450 +0.950 AAPKD00 392.94–392.98 392.960 +0.660
Gasoil EFS ($/mt) AAQTX00 NA NANA AAQTY00 -26.150 -0.010 AAQTZ00 -24.250 +0.240
Arab Gulf Front Month Swaps (PGA page 2638)
Balance September* ($/barrel) October ($/barrel) November ($/barrel)

Naphtha ($/mt) NAGFM00 NA NANA NAGFM01 607.770 +3.020 NAGFM02 600.280 +3.030
Gasoline 95 unleaded AFUIM00 NA NANA AFUIM01 79.370 +1.250 AFUIM02 77.570 +0.480
Gasoline 92 unleaded RAGFM00 NA NANA RAGFM01 75.520 +1.100 RAGFM02 74.170 +0.480
Kerosene AFUAM00 80.600 +0.920 AFUAM01 80.840 +1.070 AFUAM02 80.680 +0.990
Gasoil AFUJM00 80.220 +1.150 AFUJM01 80.570 +1.260 AFUJM02 80.460 +1.180
HSFO 180 CST** AADZB00 NA NANA AADZM01 391.000 +1.750 AADZM02 378.750 +0.250
HSFO 380 CST AFURM00 NA NANA AFURM01 409.000 +2.750 AFURM02 397.750 +2.500
*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 Malaysia’s expected removal of RON 95 petrol

subsidies is projected to drive up fuel prices, but
Japan physical oil assessments (PGA page 2006) demand is likely to remain steady. Meanwhile,
C+F Japan ($/mt) Premium/Discount the country’s EV adoption faces challenge due to
Naphtha (min 70%) NCJCA00 651.000 +0.500 NCJCB00 3.500 0.000
infrastructure gaps outside major cities.
Naphtha PAAAD00 649.75–652.25 651.000 +0.500 PAADI00 3.25/3.75 3.500 0.000
Nph 1st 1/2 Nov PAAAE00 654.25–654.75 654.500 +0.500 Malaysia’s economy minister, Rafizi Ramli, had
Nph 2nd 1/2 Nov PAAAF00 651.75–652.25 652.000 +0.500 earlier announced the subsidy cut for RON 95 gasoline,
Nph 1st 1/2 Dec PAAAG00 649.75–650.25 650.000 +0.500
Naphtha MOPJ Strip AAXFH00 640.63–641.13 640.880 +2.250 AAXFI00 9.88/10.38 10.130 -1.750 following the removal of diesel subsidies at the World
C+F Japan ($/barrel) Premium/Discount Economic Forum’s summer gathering in Dalian, China,
Gasoline 91-92 unleaded PGACW00 81.63–81.67 81.650 +1.790 on June 27, according to local media reports.
Gasoline 95 unleaded PGAQQ00 86.25–86.29 86.270 +1.300
Kerosene PJAAN00 84.38–84.42 84.400 +1.050 PAADK00 0.35/0.39 0.370 -0.020 The anticipated adjustment of RON 95 subsidies
FOB Japan ($/barrel) Premium/Discount is expected to take effect by the end of 2024, sources
Gasoil POJAP00 82.790 +1.310 POJBP00 -1.150 +0.050 close to the matter said.
South Korea physical oil assessments (PGA page 2008) While higher pump prices are expected, they are
C+F Korea ($/mt) Premium/Discount unlikely to significantly impact demand, as gasoline
Naphtha PAADE00 653.25–653.75 653.500 +0.500 PAADG00 2.25/2.75 2.500 0.000 remains essential for citizens who rely on gasoline-
C+F East Asia ($/mt) Premium/Discount powered vehicles for transportation, market sources
Naphtha** CFRCT00 628.500 0.000 CFRCD00 -22.500 -0.500
said. Instead, the government plans to introduce
FOB Korea ($/barrel) Premium/Discount
Gasoline 95 unleaded PGAQO00 83.29–83.33 83.310 +1.350
targeted subsidies to support the lower-income
Jet PJADG00 83.16–83.20 83.180 +1.070 PJADI00 -0.87/-0.83 -0.850 0.000 population, the source added.
Gasoil POAIE00 82.87–82.91 82.890 +1.310 POAIG00 -1.07/-1.03 -1.050 +0.050
Bitumen Pen 60-80 ($/mt) BTKRA00 430.000 +5.000 BTKRB00* 24.830 +4.340
Malaysia’s overall gasoline demand is also expected
*Indicates relationship between premium/discount and HSFO 380 CST MOPS Strip. **All-origin naphtha from commercial tanks.
to remain firm, as EVs remain a costly alternative to
gasoline-powered vehicles in the country, sources said.
Mean of Platts West India netbacks (PGA page 2012)
Platts is part of S&P Global Commodity Insights.
FOB India ($/mt) FOB India ($/barrel)
Naphtha AAQWK00 621.940 +3.620 AAQWJ00 69.100 +0.400
Gasoline (92 RON) AARBQ00 653.540 +17.040 AARBP00 76.890 +2.010 Platts Singapore Gasoline Rationales &
Gasoline (95 RON)
Jet kero
AAQWI00
AAQWM00
692.810
642.650
+12.880
+10.270
AAQWH00
AAQWL00
81.510
81.350
+1.520
+1.300
Exclusions
Gasoil 10 ppm AAQWO00 601.850 +11.420 AAQWN00 80.790 +1.540 Gasoline Unl 92 FOB Spore Cargo <PGAEY00>
Gasoil 500 ppm AAQWQ00 597.310 +12.170 AAQWP00 80.180 +1.640 assessment rationale: The FOB Singapore 92 RON
Gasoil 2500 ppm AAQWS00 596.040 +12.540 AAQWR00 80.010 +1.690
gasoline assessment Sept. 18 took into consideration
Australia (PGA page 2014)
an offer for cargo loading over Oct. 4-8 at $79.50/b,
C+F Australia ($/barrel) a trade for cargo loading over Oct. 8-12 at $79.10/b, a
Gasoline 92 AACZF00 83.33–83.37 83.350 +1.780
Gasoline 95 AACZH00 87.95–87.99 87.970 +1.290 bid for cargo loading over Oct. 11- 15 at $79.20/b, and a
Jet AAFIY00 88.28–88.32 88.300 +1.060 trade for cargo loading over Oct. 14-18 at $78.70.
Gasoil 10 ppm AAQUD00 88.14–88.18 88.160 +1.280
Gasoline Unl 95 FOB Spore Cargo <PGAEZ00>
South Africa (PGA pages 2342 and 2412) assessment rationale: The FOB Singapore 95 RON
CFR South Africa ($/barrel) gasoline assessment Sept. 18 took into consideration
Gasoline 95 unleaded AAQWW00 87.143 +1.143
Jet kero AAQWT00 87.077 +0.754
a withdrawn offer for cargo loading over Oct. 14-18 at
Gasoil 10 ppm AAQWU00 87.055 +1.248 Mean of Platts Singapore (MOPS) 95 RON plus $1.20/b,
Gasoil 500 ppm AAQWV00 86.185 +1.178 which is equivalent to $83.57/b.

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 ($/mt)
SAF cost of production BJNWA00 2031.196 -1.863
AG-Spore Spore-Japan AG-Japan Spore-Australia SAF CIF NWE MIRWD00 1813.000 +7.000
Naphtha AAPOF00 20.49* AAPOG00 45.00* SAF CIF NWE premium MIRWF00 1090.000 0.000
Naphtha-LR2 AAPOH00 36.55* SAF FOB FARAG SUAEA00 1800.00 0.00
Gasoline AAPOC00 3.03 AAPOD00 2.41 AAPOE00 4.11 SAF FOB FARAG premium SUAEB00 1077.00 -7.00
Kerosene AAPOI00 3.25 AAPOJ00 4.42 RD cost of production HVNWA00 1859.025 -1.170
Gasoil AAPOL00 3.45 AAPOM00 4.69
USWC cost of production ($/mt)
HSFO 180 CST AAPOO00 21.74* AAPOP00 17.96*
SAF w/ credits ASAFA00 1817.980 +5.348
HSFO 380 CST AAPOQ00 21.74*
SAF w/o credits ASAFB00 879.529 -1.078
All values in $/barrel, except * values in $/mt. RD w/ credits ARDFA00 1716.676 +3.363
South China/Hong Kong physical oil assessments (PGA page 2010) RD w/o credits ARDFB00 908.527 -3.542

South China ($/mt)
Premium/Discount to MOPS ($/barrel) USWC cost of production ($/b)
SAF w/ credits ASAFE00 224.574 +0.661
Gasoline 92 unleaded AAICW00 686.00–690.00 688.000 +15.500
SAF w/o credits ASAFF00 108.648 -0.133
Jet/kero PJABQ00 667.50–671.50 669.500 +8.250 AAWTW00 0.71/0.75 0.730 -0.020 RD w/ credits ARDFE00 212.685 +0.416
Gasoil POAFA00 625.00–629.00 627.000 +9.750 AABJZ00 0.19/0.23 0.210 +0.030 RD w/o credits ARDFF00 112.561 -0.439

Hong Kong bunker grades ($/mt) USWC cost of production (¢/gal)
HSFO 380 CST PUAER00 453.50–454.50 454.000 +1.000 SAF w/ credits ASAFI00 534.700 +1.573
SAF w/o credits ASAFJ00 258.685 -0.317
*C+F Hong Kong, $/barrel premium/discount to Mean of Platts Singapore.
RD w/ credits ARDFI00 506.394 +0.992
RD w/o credits ARDFJ00 268.002 -1.045
Americas market-based assessment (¢/gal)
Marine Fuel (PGA page 30) SAF CA SAFDA00 665.380 +2.080
SAF CA vs Jet LA SAFDB00 465.130 0.000
$/mt Change vs FO 380 MOPS strip Change SAF IL SAFDD00 831.390 +3.080
0.5% FOB Singapore cargo AMFSA00 549.480 -4.390 AMOPA00 144.310 -5.050 SAF IL vs Jet Chicago SAFDE00 624.390 0.000
0.5% FOB Fujairah cargo AMFFA00 554.160 -3.550 ATF 30/70 CA SAFDF00 500.250 +2.080
0.5% FOB Rotterdam barge PUMFD00 490.750 -1.000 ATF 30/30 IL SAFDG00 554.780 +3.080
0.5% FOB US Gulf Coast barge AUGMB00 497.000 -0.500 Southeast Asia ($/mt)
0.5% Dlvd US Atlantic Coast barge AUAMB00 528.750 -0.500 SAF cost of production (PFAD) ASFAA00 1609.500 +25.820
0.5% FOB Mediterranean cargo MFFMM00 499.750 -1.250 RD cost of production (PFAD) HVSAB00 1481.640 +23.140
0.5% CIF Mediterranean cargo MFCMM00 511.750 -1.750 North Asia ($/mt)
$/barrel Change SAF cost of production (UCO) ASFAC00 1669.840 -0.870
0.5% FOB US Gulf Coast barge AUGMA00 78.270 -0.080 RD cost of production (UCO) HVNAA00 1537.290 -0.540
0.5% Dlvd US Atlantic Coast barge AUAMA00 83.270 -0.080
Jet Index (PGA page 115)
Index $/barrel
Asia & Oceania PJASO00 240.35 PJASO08 84.12
Marine Fuel 0.5% Derivatives, Sep 18 Mid East & Africa PJMEA00 250.14 PJMEA08 83.77
Balance* Change Month 1 Change Month 2 Change Global PJGLO00 233.17 PJGLO08 85.30
Sep Oct Nov
$/mt $/mt $/mt Foreign exchange rates (PGA page 2160)
0.5% FOB Singapore cargo FOFS000 543.450 -4.800 FOFS001 528.450 -3.050 FOFS002 518.960 -2.290 USD/JPY AAWFX00 141.795 +1.230
0.5% FOB Fujairah cargo FOFF000 NA NANA FOFF001 535.000 -3.250 FOFF002 524.750 -2.500 Eur/USD AAWFU00 1.1132 -0.0002
USD/SGD AAWFZ00 1.2944 +0.0003
0.5% FOB Rotterdam barge AMRAB00 490.500 -1.500 AMRAM01 482.750 -1.500 AMRAM02 474.500 -1.250
USD/MYR AAWGA00 4.2386 -0.0374
0.5% vs. 3.5% FOB Rotterdam barge AMRBB00 79.500 -5.250 AMRBM01 82.000 -4.750 AMRBM02 86.500 -2.500
USD/HKD AAWFY00 7.7944 +0.0041
$/barrel $/barrel $/barrel AUD/USD AAWFT00 0.6779 +0.0019
0.5% FOB US Gulf Coast barge AMARB00 NA NANA AMARM01 78.350 0.000 AMARM02 77.650 +0.100 USD/INR AAFGW00 83.7077 -0.0551
0.5% vs US Gulf Coast HSFO barge AUSBB00 NA NANA AUSBM01 16.850 -0.350 AUSBM02 17.650 -0.150 USD/CNY* AAWFW00 7.0870 -0.0160
*Balance month swaps are assessed from the 1st through the 20th of the month; Asia swaps are assessed through the 14th of February. *Source: Bank of China

Gasoline Unl 97 FOB Spore Cargo <PGAMS00> Carbon Intensity (PGA page 4207)
Daily Carbon Intensity Premium Monthly Carbon Intensity
assessment rationale: The FOB Singapore 97 RON
Asia $/bbl Date kgCO2e/bbl
gasoline assessment Sept. 18 took into consideration
Gasoline Unl 92 FOB Singapore Cargo ALCEJ00 0.578 ALCEI00 Aug-24 48.16
the adjusted 97-95 inter-RON spread in the absence of Jet Kero FOB Singapore Cargo ALCEL00 0.227 ALCEK00 Aug-24 18.93
bids, offers and trades. Gasoil 10ppm FOB Singapore Cargo ALCEH00 0.342 ALCEG00 Aug-24 28.54
Gasoline Unl 92 FOB Arab Gulf Cargo <AAGJA00> United States Gulf Coast ¢/gal Date kgCO2e/gal
assessment rationale: The FOB Arab Gulf 92 RON Gasoline CBOB USGC Prompt Pipeline ALCEN00 1.224 ALCEM00 Aug-24 1.02
Jet Kero 54 USGC Prompt Pipeline ALCEP00 0.576 ALCEO00 Aug-24 0.48
gasoline cargo assessment was derived as a freight ULSD USGC Prompt Pipeline ALCER00 0.744 ALCEQ00 Aug-24 0.62
netback from the FOB Singapore 92 RON marker Northwest Europe $/mt Date kgCO2e/mt
using the following calculation: FOB Singapore 92 RON Gasoline Eurobob (E5) FOB NWE Barge ALCEB00 4.515 ALCEA00 Aug-24 376.28
assessment minus the cost of transporting a 35,000- Jet FOB NWE Barge ALCED00 2.056 ALCEC00 Aug-24 171.36
ULSD 10ppm FOB NWE Barge ALCEF00 2.317 ALCEE00 Aug-24 193.12
mt clean cargo from a basket of ports in the Persian
Gulf to Singapore.
Exclusions: No data was excluded from the Asian from the October MOPAG 95 RON gasoline swap at Carbon credits (PGA page 496)
Change
gasoline MOC Sept. 18. $79.37/b and the November MOPAG 95 RON gasoline
Platts CEC
swap at $77.57/b. The cash differential took into $/mtCO2e PCECA00 17.500 0.000
Platts FOB Fujairah Gasoline Daily Rationale & consideration values in the FOB Fujairah 95 RON Jet Fuel Carbon Offset Premiums
Exclusions gasoline market heard in the Middle East. $/b AJFCA00 84.189 0.000
Gasoline 92 RON FOB Fujairah cargo <RFJFS00> Exclusions: No data was excluded from the Asian
assessment rationale: The assessment of FOB Fujairah gasoline MOC Sept. 18.
92 RON gasoline Sept. 18 took into consideration the Platts is part of S&P Global Commodity Insights. The Asian naphtha market remained steady Sept.
92 RON gasoline Mean of Platts Arab Gulf strip value of 18, amid poor downstream margins.
$75.41/b, as well as the cash differential for Fujairah 92 Platts FOB Fujairah Gasoline Bids, Offers, In the paper market, brokers pegged the front-
RON gasoline at $3.25/b in the absence of bids, offers Trades month October-November swaps time spread at
and trades in the FOB Fujairah 92 RON gasoline Platts $5.50/mt on Sept. 18, unchanged from the Sept. 17
Market on Close assessment process. Bids: No bids Asian close.
The MOPAG 92 RON gasoline strip is calculated Offers: No offers Upstream, crude oil futures were lower in
from the October MOPAG 92 RON gasoline swap at Trades: No trades midafternoon Asian trading Sept. 18, as cross-asset
$75.52/b and the November MOPAG 92 RON gasoline This assessment commentary applies to the volatility across financial markets along with recession
swap at $74.17/b. The cash differential took into following market data codes: Gasoline 92 RON FOB fears dragged on prices.
consideration values in the FOB Fujairah 92 RON Fujairah Cargo <RFJFS00> and Gasoline 95 RON FOB Global financial markets await the outcome of the
gasoline market heard in the Middle East. Fujairah Cargo <AFUJA00> US Federal Open Market Committee meeting later in
Gasoline 95 RON FOB Fujairah cargo <AFUJA00> the global day, where the Federal Reserve is widely
assessment rationale: The assessment of FOB Fujairah Platts Asia and Middle Eastern Naphtha expected to announce the first interest rate cut to its
95 RON gasoline Sept. 18 took into consideration the Daily Market Analysis monetary easing cycle.
95 RON gasoline MOPAG strip value of $79.22/b, as well Platts assessed the CFR Japan naphtha physical
Poor olefins, aromatics margins weigh on complex
as the cash differential for Fujairah 95 RON gasoline at crack spread against the front-month ICE Brent crude
$3.65/b in the absence of bids, offers and trades in the Kuwait’s KPC offers 75,000 mt of naphtha for Oct futures at $104.725/mt at the Sept. 17 Asian close,
FOB Fujairah 95 RON gasoline MOC process. 3-5 loading up 90 cents/mt from the previous close, S&P Global
The MOPAG 95 RON gasoline strip was calculated Commodity Insights data showed.

European products ($/mt)

Code Mid Change Code Mid Change Code Mid Change
Mediterranean (PGA page 1114)
FOB (Italy) CIF (Genova/Lavera) MOPL Diff
Prem Unl 10ppm AAWZA00 706.50–707.00 706.750 +10.000 AAWZB00 716.25–716.75 716.500 +9.750
Naphtha PAAAI00 616.50–617.00 616.750 +4.500 PAAAH00 629.50–630.00 629.750 +4.000
Jet aviation fuel AAIDL00 672.50–673.00 672.750 +7.000
Gasoil 0.1% AAVJI00 638.50–639.00 638.750 +8.750 AAVJJ00 647.75–648.25 648.000 +8.500 AMOPI00 -6.66 +0.150
10ppm ULSD AAWYY00 664.50–665.00 664.750 +9.500 AAWYZ00 674.50–675.00 674.750 +9.250 AMOPN00 4.85 +0.690
1% PUAAK00 460.50–461.00 460.750 +0.500 PUAAJ00 474.25–474.75 474.500 +0.250
3.5% PUAAZ00 403.25–403.75 403.500 +4.000 PUAAY00 416.75–417.25 417.000 +3.750
Northwest Europe cargoes (PGA page 1110)
CIF (Basis ARA) FOB NWE MOPL Diff
Gasoline 10ppm AAXFQ00 725.00–725.50 725.250 +9.000
Naphtha Swap PAAAJ00 634.25–634.75 634.500 +4.000
Naphtha Phy PAAAL00 639.25–639.75 639.500 +4.250
Jet PJAAU00 691.75–692.25 692.000 +6.750 PJAAV00 677.75–678.25 678.000 +6.750 AMOPJ00 -4.05 -0.890
Ultra low sulfur diesel 10ppm AAVBG00 664.75–665.25 665.000 +8.250 AAVBF00 655.50–656.00 655.750 +8.250 AMOPL00 -0.99 +0.060
Gasoil 0.1% AAYWS00 646.00–646.50 646.250 +8.750 AAYWR00 628.25–628.75 628.500 +8.750 AMOPH00 -6.19 +0.300
Diesel 10ppm NWE AAWZC00 666.75–667.25 667.000 +8.250 AAWZD00 655.50–656.00 655.750 +8.250
Diesel 10 PPM UK AAVBH00 668.00–668.50 668.250 +8.250 AUKMA00 2.261 +0.057
1% PUAAL00 455.00–455.50 455.250 0.000 PUAAM00 439.75–440.25 440.000 +0.250
3.5% PUABA00 417.50–418.00 417.750 +6.500 PUABB00 403.50–404.00 403.750 +7.000
0.5-0.7% straight run PKABA00 498.00–499.00 498.500 +1.500
Low sulfur VGO AAHMZ00 553.25–554.25 553.750 +0.250 AAHMX00 532.25–533.25 532.750 +1.250
High sulfur VGO AAHND00 546.50–547.50 547.000 +0.250 AAHNB00 525.25–526.25 525.750 +1.000
Northwest Europe barges (PGA pages 1112 & 1380)
FOB Rotterdam MOPL Diff
Eurobob AAQZV00 703.75–704.25 704.000 +7.750
E10 Eurobob AGEFA00 699.750 +8.750
Unleaded 98 AAKOD00 732.25–732.75 732.500 +7.750
Premium Unleaded PGABM00 708.50–709.00 708.750 -6.250
Reformate AAXPM00 731.000 +10.750
MTBE* PHALA00 808.75–809.25 809.000 +16.500
Naphtha Phy PAAAM00 635.25–635.75 635.500 +4.250
Jet PJABA00 690.50–691.00 690.750 +6.750 AMOPK00 -1.30 -1.200
Gasoil 50 ppm AAUQC00 655.25–655.75 655.500 +9.500
Gasoil 0.1%* AAYWT00 640.00–640.50 640.250 +8.750 AMOPG00 7.08 -0.040
10 ppm* AAJUS00 657.50–658.00 657.750 +9.000 AMOPM00 0.71 +0.260
1% PUAAP00 446.75–447.25 447.000 +0.250
3.5% PUABC00 418.50–419.00 418.750 +6.500
Fuel Oil 3.5% 500 CST PUAGN00 413.00–413.50 413.250 +6.500
Low sulfur VGO AAHNF00 543.75–544.75 544.250 +1.000
High sulfur VGO AAHNI00 537.00–538.00 537.500 +1.000
*FOB Amsterdam-Rotterdam-Antwerp
Rotterdam bunker (PGA page 1112)
380 CST PUAFN00 419.50–420.50 420.000 +5.000

Downstream, poor olefins and aromatics margins US products (¢/gal) (PGA page 158)
continued to weigh on the complex. US West Coast pipeline
Platts assessed the CFR Northeast Asia ethylene Los Angeles San Francisco
price spread to C+F Japan naphtha at $209.50/mt on Unleaded 84 AAUHA00 218.77–218.87 218.820 -5.120 PGADG00 252.77–252.87 252.820 +0.880
Sept. 18, narrowing $4.50/mt from the previous close. Premium 90 PGABG00 234.77–234.87 234.820 -8.120 PGABO00 272.77–272.87 272.820 +0.880
This was, however, below the typical breakeven spread CARBOB AAKYJ00 221.02–221.12 221.070 -5.120 AAKYN00 255.02–255.12 255.070 +0.880
CARBOB PREM AAKYL00 237.02–237.12 237.070 -8.120 AAKYP00 275.02–275.12 275.070 +0.880
of $250/mt for integrated producers and $300-$350/
Jet PJAAP00 200.20–200.30 200.250 +2.080 PJABC00 200.20–200.30 200.250 +2.080
mt for non-integrated producers. ULS (EPA) Diesel POAET00 212.83–212.93 212.880 -1.090 POAEY00 252.70–252.80 252.750 +1.080
The spread between CFR Taiwan/China paraxylene CARB diesel POAAK00 212.83–212.93 212.880 -1.090 POAAL00 252.70–252.80 252.750 +1.080
and CFR Japan naphtha physical narrowed $4.16/mt Seattle Portland
to $184.17/mt at the Sept. 17 Asian close, Commodity Unleaded 84 AAXJE00 199.02–199.12 199.070 -11.120 AAXJC00 201.02–201.12 201.070 -11.120
Premium 90 AAXJF00 219.02–219.12 219.070 -11.120 AAXJD00 221.02–221.12 221.070 -11.120
Insights data showed, below the typical breakeven Jet PJABB00 200.20–200.30 200.250 +2.080
level of around $280-$300/mt. ULS (EPA) Diesel AAUEX00 230.55–230.65 230.600 +1.080 AAUEY00 231.70–231.80 231.750 +1.080
In tenders, Kuwait Petroleum Corp. offered 75,000 Phoenix
mt of full-range naphtha, with 50,000 mt and 25,000 RBOB unleaded 84 AADDP00 226.02–226.12 226.070 -5.120
RBOB premium 89.5 PPXDJ00 246.02–246.12 246.070 -5.120
mt for loading over Oct. 3-4 and Oct. 4-5, respectively,
Differential to NYMEX
from one or two safe ports in Kuwait. The tender closes
CARBOB AANVX00 19.95/20.05 20.000 -6.000
Sept. 18 and has same-day validity. Jet Fuel AANVY00 -14.55/-14.45 -14.500 +1.000
Platts is part of Commodity Insights. ULS (EPA) Diesel AANVZ00 -3.05/-2.95 -3.000 -2.000
CARB Diesel AANWA00 -3.05/-2.95 -3.000 -2.000
Platts Japan Naphtha Daily Rationales & US West Coast waterborne
Los Angeles
Exclusions
Unleaded 87 PGADI00 218.77–218.87 218.820 -5.120
Naphtha C+F Japan Cargo <PAAAD00> assessment Jet PJABI00 199.20–199.30 199.250 +2.080
rationale:
The CFR Japan naphtha cargo assessment on
Sept. 18 took into consideration the notional value
for H1 November, H2 November and H1 December at Platts assessment of futures markets at MOC close (PGA page 703)
$654.50/mt, $652/mt and $650/mt, respectively, with Singapore 16:30
a crack value of $107.60/mt, $105.10/mt and $103.10/mt, ICE gasoil futures ($/mt) NYMEX RBOB (¢/gal) NYMEX NY ULSD (¢/gal)
Oct 24* AAQYM01 651.50 Oct XNRBA01 197.54 Oct XNHOA01 212.08
respectively, in the absence of any competitive bids or Nov 24 AAQYM02 649.75 Nov XNRBA02 194.94 Nov XNHOA02 213.37
offers demonstrating value otherwise. Dec 24 AAQYM03 647.75 Dec XNRBA03 192.45 Dec XNHOA03 214.60
Platts assessed the H1 November-H2 November New York 14:30
time spread at $2.50/mt and the H2 November-H1 NYMEX light sweet crude ($/barrel) NYMEX RBOB (¢/gal) NYMEX NY ULSD (¢/gal)
Oct NYCRM01 70.90 Oct NYRBM01 201.08 Oct NYHOM01 214.74
December time spread was assessed at $2/mt.
Nov NYCRM02 69.87 Nov NYRBM02 198.35 Nov NYHOM02 215.85
Naphtha FOB Spore Cargo <PAAAP00> assessment Dec NYCRM03 69.08 Dec NYRBM03 195.37 Dec NYHOM03 216.83
rationale: *Balance month swaps are assessed from the 1st to the 15th of the month, and to the 14th of February.
The FOB Singapore naphtha assessment was
derived as a freight netback from the CFR Japan
naphtha first cycle assessment using the following

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 67.86–67.90 67.880 +0.080 AAPAI00 -4.15 0.000 AAPAH00 68.410 +0.040
Ichthys FC 48.9 ICFCA00 74.980 +0.080 ICFCB00 2.950 0.000
DFC 56.82 ADFCA00 72.64–72.68 72.660 -0.010 ADFCB00 1.45/1.55 1.500 0.000 ADFCC00 0.630 -0.090 ADFCD00 73.190 -0.050
Qatar LSC 56.9 AARBB00 72.29–72.33 72.310 -0.010 AARBD00 1.10/1.20 1.150 0.000 AARBC00 0.280 -0.090 AARBA00 72.840 -0.050
South Pars 57.4 AARAV00 67.49–67.53 67.510 -0.010 AARAX00 -3.70/-3.60 -3.650 0.000 AARAW00 -4.520 -0.090 AARAU00 68.040 -0.050
Diff to ICP
Senipah 54.4 AAEOE00 64.86–64.90 64.880 +0.080 AAEOK00 -3.60/-3.50 -3.550 0.000 AAPBE00 -7.150 0.000 AAPBD00 65.410 +0.040
Light crude (PGA page 2214) (PGA page 2215)
Diff to ICP Diff to Asian Dated Brent
Cossack 47.7 PCAGZ00 73.31–73.35 73.330 +0.080 AAPAC00 1.300 0.000 AAPAB00 73.860 +0.040
Tapis 45.2 PCACB00 75.21–75.25 75.230 -0.320 AAOZW00 3.200 -0.400 AAOZV00 75.760 -0.360
Belida 45.1 PCAFL00 69.01–69.05 69.030 +0.080 PCAFM00 -1.55/-1.45 -1.500 0.000 AAPBQ00 -3.000 0.000 AAPBP00 69.560 +0.040
Kutubu 44.3 PCAFJ00 71.91–71.95 71.930 +0.080 AAPAE00 -0.100 0.000 AAPAD00 72.460 +0.040
Attaka 42.3 PCAAJ00 68.96–69.00 68.980 +0.080 PCAAK00 -1.60/-1.50 -1.550 0.000 AAPBC00 -3.050 0.000 AAPBB00 69.510 +0.040
Ardjuna 38 PCACQ00 68.36–68.40 68.380 -0.320 PCACR00 -1.90/-1.80 -1.850 -0.200 AAPBG00 -3.650 -0.400 AAPBF00 68.910 -0.360
Banyu Urip 32 PCAFQ00 73.580 -0.320 PCAQQ00 0.750 -0.200 AAPBU00 1.550 -0.400 AAPBR00 74.110 -0.360
Diff to Dubai
Sakhalin Blend 45.5 AARBN00 66.09–66.13 66.110 +0.040 AARCN00 -5.10/-5.00 -5.050 +0.050 AARDN00 -5.920 -0.040 AAREN00 66.640 0.000
ESPO M1 34.8 AARWF00 67.04–67.08 67.060 +0.040 AASEU00 -4.15/-4.05 -4.100 +0.050 AARWE00 -4.960 -0.030 AARWD00 67.600 +0.010
ESPO M2 34.8 AAWFE00 66.63–66.67 66.650 +0.060 AAWFG00 -4.15/-4.05 -4.100 +0.050
Sokol 39.7 AASCJ00 68.54–68.58 68.560 +0.040 AASCK00 -2.65/-2.55 -2.600 +0.050 AAPAO00 -3.470 -0.040 AAPAN00 69.090 0.000
Kikeh 34.9 AAWUH00 78.96–79.00 78.980 -0.320 AAOZY00 6.950 -0.400 AAOZX00 79.510 -0.360
Miri Light 32.3 PCABQ00 78.41–78.45 78.430 -0.320 AAPAS00 6.400 -0.400 AAPAR00 78.960 -0.360
Labuan 32 PCABL00 79.11–79.15 79.130 -0.320 AAPAQ00 7.100 -0.400 AAPAP00 79.660 -0.360
Kimanis 38.6 AASCL00 79.730 -0.320 AASCM00 7.700 -0.400 AASCN00 80.260 -0.360
Medium crude (PGA page 2216) (PGA page 2217)
Diff to Asian Dated Brent
Su Tu Den 36.8 AARAR00 76.76–76.80 76.780 -0.320 AARAS00 4.750 -0.400 AARAQ00 77.310 -0.360
Bach Ho 40.7 PCAHY00 78.41–78.45 78.430 -0.320 AAPAK00 6.400 -0.400 AAPAJ00 78.960 -0.360
Nanhai 40 PCAFR00 64.91–64.95 64.930 -0.320 AAPAG00 -7.100 -0.400 AAPAF00 65.460 -0.360
Nile Blend 33.9 AAPLC00 70.36–70.40 70.380 +0.080 AAPAM00 -1.650 0.000 AAPAL00 70.910 +0.040
Daqing 32.2 PCAAZ00 73.76–73.80 73.780 +0.080 AAPAW00 1.750 0.000 AAPAV00 74.310 +0.040
Heavy crude (PGA page 2218) (PGA page 2219)
Diff to ICP Diff to Asian Dated Brent
Dar Blend 25 AARAB00 67.96–68.00 67.980 +0.030 AARAC00 -4.050 -0.050 AARAA00 68.510 -0.010
Shengli 24.2 PCABY00 73.16–73.20 73.180 +0.030 AAPAY00 1.150 -0.050 AAPAX00 73.710 -0.010
Duri 20.8 PCABA00 76.46–76.50 76.480 +0.030 PCABB00 2.15/2.25 2.200 0.000 AAPBM00 4.450 -0.050 AAPBL00 77.010 -0.010
Vincent 18.3 AARAK00 80.930 +0.030 AARAL00 8.900 -0.050 AARAJ00 81.460 -0.010

calculation: CFR Japan naphtha first cycle assessment The assessment of FOB Fujairah naphtha on Sept. This assessment commentary applies to the
minus the cost of transporting a 30,000-mt clean 18 took into consideration the naphtha Mean of Platts following market data codes: Naphtha FOB Fujairah
cargo on the Singapore-to-Japan route. Arab Gulf strip value of $607.16/mt, as well as the cash Cargo $/mt <NFJSA00>.
Naphtha FOB Arab Gulf Cargo <PAAAA00> differential at $21.00/mt in the absence of bids, offers
assessment rationale: and trades in the FOB Fujairah naphtha Platts Market Platts Asia and Middle Eastern Jet Daily
The FOB Arab Gulf naphtha assessment was on Close assessment process. Market Analysis
derived as a freight netback from the CFR Japan The MOPAG naphtha strip was calculated from the
Q4 Singapore regrade widens to 8-month high of
naphtha marker using the following calculation: CFR October MOPAG naphtha swap at $607.77/mt and the
plus 23 cents/b
Japan naphtha marker minus the cost of transporting November MOPAG naphtha swap at $600.28/mt. The
a 55,000-mt clean cargo from a basket of ports on the cash differential took into consideration the FOB Arab Cathay Pacific passenger traffic inches up 3%;
Persian Gulf-to-Japan route. Gulf cash differential against MOPAG naphtha physical travel demand outlook firm
Platts is part of S&P Global Commodity Insights. in the absence of any competitive bids, offers or trades
Exclusions: demonstrating value otherwise. The Asian jet fuel/kerosene market was seen firmer
No market data was excluded from the Sept. 18 Exclusions: No data was excluded from the Sept. 18 Sept. 18, as the front-quarter regrade and front-month
Asian naphtha derivative Market on Close assessment Fujairah naphtha MOC. market structure breached positive territory ahead
process. Platts is part of S&P Global Commodity Insights. of the Golden Week and year-end holidays, though
No market data was excluded from the Sept. 18 fundamentals remained largely stable day on day.
Asian naphtha MOC. Platts FOB Fujairah Naphtha Bids, Offers, Brokers pegged the front-month October-November
Trades time spread for FOB Singapore jet fuel/kerosene
Platts FOB Fujairah Naphtha Daily Rationale & swaps — an indication of near-term market sentiment
Exclusions Bids: No bids — at plus 3 cents/b in the midmorning trade Sept. 18,
Naphtha FOB Fujairah <NFJSA00> assessment Offers: No offers compared with minus 6 cents/b at the previous day’s
rationale: Trades: No trades Asian close.
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Tracking the strength, the FOB Singapore front- In H1, the company’s gasoline and jet fuel cents/b, taking into consideration a bid for a cargo
quarter regrade flipped positive for the first time in production rose 6% and 14.5% to 1.51 million b/d loading over Oct 8-12 at minus 21 cents/b. The back
eight months Sept. 17 — on track for a fifth straight (32.34 million mt) and 679,313 b/d (15.65 million mt), loading period was assessed at Mean of Platts Jet
weekly gain. respectively. Gasoil output, however, fell 9.3% on the fuel/kerosene assessment minus 14 cents/b reflecting
Platts assessed the Singapore front-quarter Q4 year to 1.2 million b/d (29.31 million mt). the change in the middle loading period.
regrade – the spread which measures the value of Meanwhile, Hong Kong’s Cathay Pacific passenger Jet Kero FOB Arab Gulf Cargo <PJAAA00>
jet fuel over 10 ppm sulfur gasoil – at plus 23 cents/b traffic edged up 3.03% on the month, and 15.9% on the assessment rationale: The FOB Arab Gulf Jet Kero
at the Asian close Sept. 17, compared with minus 4 year, to 2.07 million passengers in August, the company cargo assessment was derived as a freight netback
cents/b the previous session, S&P Global Commodity said late Sept. 17. from the FOB Singapore Jet Kero cargo assessment
Insights data showed. Over January-August, the number of passengers using the following input: FOB Singapore Jet Kero
The quarterly spread was last positive on Dec. 22, reached 14.74 million, up 29.9% from the same period a cargo assessment minus the cost of transporting a
2023, when it was assessed by Platts at plus 2 cents/b, year ago. 55,000-mt clean cargo from a basket of ports in the
according to Commodity Insights data. “August marks the second half of the traditional Persian Gulf to Singapore.
Increased trading activity in the lead up to the flip summer travel peak. The strong demand we saw in Exclusions: No market data was excluded from the
was reflected in an uptick in market liquidity. July continued in August with more than two million Sept. 18 Singapore Jet fuel/kerosene Platts Market on
Open interest in the Platts Singapore regrade passengers carried for the second month in a row,” Close assessment process.
contracts for Q4 2024 on ICE rose 8.84% to 40.88 said Cathay’s Chief Customer and Commercial Officer
million barrels as of Sept. 16, latest available data from Lavinia Lau in a statement. Platts FOB Fujairah Jet Kero Rationale &
ICE showed. Looking ahead, Cathay expects travel demand to Exclusions
Some market participants attributed the buying to remained supported by China’s Golden Week holiday in Jet Kero FOB Fujairah cargo <AFUJF00>
tactical trading amid the broad decline in the Asian the first week of October. assessment rationale: Platts assessed FOB Fujairah jet
middle distillate complex, emphasizing relatively stable “As National Day approaches, travel demand from fuel/kerosene on Sept. 18 at a premium of $1.65/b to
fundamentals on the day. the Chinese Mainland for the upcoming ‘golden week’ Mean of Platts Arab Gulf jet fuel/kerosene assessment,
Steady demand expectations heading into the year- holiday period is looking promising. Destinations in taking into consideration prices in the FOB Fujairah jet
end travel peak has helped keep a floor on the regional Southeast Asia are among the most popular, with fuel/kerosene market as well as differentials for recent
complex, heading into the final quarter of 2024. Japan and South Korea also seeing strong interest cargo trades heard in the Middle East. The MOPAG jet
“Generally, Q4 year-end travelling is always strong,” from customers,” Lau said. fuel/kerosene strip was $80.83/b.
a Straits-based market source said Sept. 17, noting Exclusions: No market data was excluded from the
that the elevated flight ticket prices reflect resilient Platts Asia & Middle East Jet Kero Daily Sept. 18 Fujairah Jet fuel/kerosene Market on Close
consumer demand. Rationale & Exclusions assessment process.
The diverging fundamentals between the co- Jet Kero FOB Spore Cargo <PJABF00> assessment
distillates has already resulted in some refineries tilting rationale: The FOB Singapore Jet fuel/kerosene cargo Platts Singapore Jet Kero Bids, Offers,
their production away from gasoil. assessment Sept. 18 was based on the following Trades
PetroChina significantly adjusted its production inputs: The Front loading period was assessed at
slate, lifting its jet fuel output by 42.4% on the year to Mean of Platts Jet fuel/kerosene assessment minus Bids: Jet: FOB Straits: UIT bids H1 Oct -0.20 Oct
8.95 million mt, while cutting gasoil output by 6.5% to 15 cents/b taking into consideration a bid for a cargo 3-7 230kb; Jet: FOB Straits: UIT bids Oct -0.20 Oct
26.76 million mt, the company revealed late-August. loading over Oct 3-7 at MOPS minus 20 cents/b. The 8-12 230kb; Jet: FOB Straits: UIT bids Oct -0.30 Oct
Sinopec also adjusted its refined oil product slate in Middle loading period was assessed at Mean of Platts 13-17 230kb; Jet: FOB Arab Gulf (Sitra/Ruwais/Jubail):
response to the shifting market dynamics. Singapore Jet fuel/kerosene assessment minus 16 BP bids Oct +0.80 Oct 12-16 300kb BP GTC. Seller

represents and warrants that, to the best of its 8-14) INCO Seller represents and warrants that the This assessment commentary applies to the
knowledge, the Cargo delivered under this Contract:(i) cargo delivered/to be delivered under this Contract: following market data codes: Jet Kero <PJABF00>
does not contain any product that was produced, (i) does not contain any product that was produced,
manufactured or processed in, or exported from; or (ii) manufactured or processed in, or exported from; or (ii) Platts Asia and Middle Eastern Gasoil Daily
has not been produced through a blending process has not been produced through a blending process Market Analysis
that uses product or components that have been that uses product or components that have been
Sentiment firms on anticipation of Chinese
produced, manufactured or processed in, or exported produced, manufactured or processed in, or exported
export quotas
from, in each case, the Russia Federation or Crimea, from, in each case, the Russia Federation or Crimea,
the Donetsk People’s Republic or the Luhansk People’s the Donetsk People’s Republic or the Luhansk People’s Fresh tender heard from South Africa
Republic in Ukraine Republic in Ukraine; Jet: FOB Straits: Aramco offers H2
Offers: Jet: FOB Straits: Aramco offers H1 Oct Oct +0.20 Oct 14-18 100kb; Jet: FOB Straits: BP offers The Asian gasoil complex strengthened Sept. 18 due
+0.20 Oct 3-7 100kb; Jet: FOB Straits: BP offers MOPS MOPS +0.30 Oct 14-18 100kb (Deemed pricing Oct to expectations of reduced supply from China, while
+0.00 Oct 3-7 100kb (Deemed pricing Oct 3-9) or 14-18) BP GTC. Seller represents and warrants that, to spot purchasing activity was heard from South Africa
MOPS +0.00 Oct 3-7 154kb (Deemed pricing Oct 3-9) the best of its knowledge, the Cargo delivered under as Engen issued a purchase tender, market sources
BP GTC. Seller represents and warrants that, to the this Contract:(i) does not contain any product that was said. “Chinese refiners are waiting for export quotas
best of its knowledge, the Cargo delivered under this produced, manufactured or processed in, or exported to be released, in addition to lower exports of gasoil
Contract:(i) does not contain any product that was from; or (ii) has not been produced through a blending anticipated from China,” a Singapore-based gasoil
produced, manufactured or processed in, or exported process that uses product or components that have trader said.
from; or (ii) has not been produced through a blending been produced, manufactured or processed in, or Firmer sentiment was evident in the paper segment,
process that uses product or components that have exported from, in each case, the Russia Federation or as the front-month October-November gasoil swaps
been produced, manufactured or processed in, or Crimea, the Donetsk People’s Republic or the Luhansk time spread stood at minus 3 cents/b at 0300 GMT
exported from, in each case, the Russia Federation or People’s Republic in Ukraine on Sept. 17, compared with minus 12 cents/b at the
Crimea, the Donetsk People’s Republic or the Luhansk Trades: Jet: FOB Straits: Oct 7-11: 154kb: UIT buys Sept. 16 Asian close, S&P Global Commodity Insights
People’s Republic in Ukraine; Jet: FOB Straits: Gunvor from BP at MOPS minus 20 cents/b (Deemed pricing data showed.
offers MOPS -0.10 Oct 4-8 100kb (Deemed pricing Oct Oct 7-11) BP GTC (4:28:59) “[The tighter market] is reflected in a tighter North
3-9) INCO Seller represents and warrants that the Withdrawn: Jet: FOB Straits: BP no longer offers Asian market on premiums, and the same is felt out
cargo delivered/to be delivered under this Contract: MOPS +0.00 Oct 7-11 100kb (Deemed pricing Oct 7-11) of [the Arabian Gulf] and West Coast India as well,”
(i) does not contain any product that was produced, or MOPS -0.20 Oct 7-11 154kb (Deemed pricing Oct 7-11) another gasoil trader said.
manufactured or processed in, or exported from; BP GTC. Seller represents and warrants that, to the In spot activity, SK Energy sold two 300,000-barrel
or (ii) has not been produced through a blending best of its knowledge, the Cargo delivered under this cargoes of 10 ppm sulfur gasoil for loading over Oct.
process that uses product or components that have Contract:(i) does not contain any product that was 16-18 and Oct. 20-22, at a discount of around $1-$1.10/b
been produced, manufactured or processed in, or produced, manufactured or processed in, or exported to the October whole-month average of Mean of Platts
exported from, in each case, the Russia Federation or from; or (ii) has not been produced through a blending Singapore 10 ppm sulfur gasoil assessments, FOB,
Crimea, the Donetsk People’s Republic or the Luhansk process that uses product or components that have trade sources said.
People’s Republic in Ukraine; Jet: FOB Straits: Aramco been produced, manufactured or processed in, or South Africa’s Engen sought 40,000 mt of 10 ppm
offers H2 Oct +0.20 Oct 8-12 100kb; Jet: FOB Straits: exported from, in each case, the Russia Federation or sulfur gasoil for loading over Oct. 19-21 from Singapore/
Unipec offers MOPS -0.10 Oct 8-12 150kb (Deemed Crimea, the Donetsk People’s Republic or the Luhansk Malaysia or Oct. 23-25 from India/the Persian Gulf or
pricing Oct 8-14) INCO; Jet: FOB Straits: Gunvor offers People’s Republic in Ukraine after trade with UIT at Oct. 25-27 from Duqm, via a tender that closes Sept. 18,
MOPS +0.00 Oct 9-13 100kb (Deemed pricing Oct -0.20 (4:28:59) market sources said.

India’s Nayara Energy sold 65,000-70,000 mt of on day at MOPS Gasoil minus 47 cents/b, as the front INCO; Gasoil 10ppm: FOB Straits: Petrochina bids
high-speed diesel for loading over Oct. 14-18 from month October/November gasoil swap spread was up MOPS -0.70 Oct 13-17 150kb (Deemed pricing Oct 11-
Vadinar to a trading house, at a premium of $1.55/b 10 cents/b on the day at minus 2 cents/b. 17) INCO; Gasoil 500ppm: FOB Straits: Trafi bids MOPS
to the October average of Mean of Platts Arab Exclusions: No market data was excluded from the -1.30 Oct 3-7 150kb (Deemed pricing Oct 2-8) INCO or
Gulf 10 ppm sulfur gasoil assessments, FOB, trade Sept. 18 Singapore Gasoil Market on Close assessment MOPS -1.30 Oct 8-12 150kb (Deemed pricing Oct 7-11)
sources said. process. INCO; Gasoil 2500ppm: FOB Straits: Vitol bids MOPS
Nayara Energy’s 400,000-b/d refinery in Vadinar has Platts is part of S&P Global Commodity Insights. -1.30 Oct 3-7 150kb (Deemed pricing Oct 1-7) INCO
been undergoing maintenance since Sept. 1, with the or MOPS -1.30 Oct 8-12 150kb (Deemed pricing Oct
work expected to last around a month, according to Platts FOB Fujairah Gasoil Daily Rationale & 7-11) INCO or MOPS -1.30 Oct 13-17 150kb (Deemed
market sources. Exclusions pricing Oct 11-17) INCO; Gasoil 50ppm: FOB Arab Gulf
Platts is part of Commodity Insights. Gasoil FOB Fujairah cargo <AFUJK00> assessment (Fujairah/Sohar/Duqm): Vitol Bahrain bids H1 Oct
rationale: +1.65 Oct 8-12 300kb
Platts Asia and Middle Eastern Gasoil Cargo The FOB Fujairah Gasoil assessment on Sept. Offers: Gasoil 10ppm: FOB Straits: Sietco offers
Daily Rationale & Exclusions 18 was assessed at a premium of $1.62/b to Mean MOPS +0.00 Oct 3-7 150kb (Deemed pricing Oct
Gasoil .001%S (10ppm) FOB Spore Cargo of Platts Arab Gulf gasoil assessment, taking into 3-9) Shell GTC. It is a condition of this agreement
<AAOVC00> assessment rationale: consideration prices in the FOB Fujairah gasoil market that the goods sold and delivered by Seller will not
The FOB Singapore Gasoil 0.001% (10 ppm) cargo as well as differentials for recent cargo trades heard be of Russian Federation (RF) origin, nor have been
assessment Sept. 18 took into consideration the in the Middle East. The MOPAG Gasoil Strip was blended with any product that was produced in RF,
adjusted relationship between the physical and swaps $80.56/b. nor will the transport of the goods sold commence
markets. The cash differential was up 5 cents/b day Gasoil 500 ppm FOB Fujairah cargo <AFUJN00> from or involve transit through RF; Gasoil 10ppm:
on day at MOPS Gasoil minus 47 cents/b, as the front assessment rationale: FOB Straits: Vitol offers MOPS +0.00 Oct 3-7 150kb
month October/November gasoil swap spread was up The FOB Fujairah 500 ppm Gasoil assessment on or MOPS +0.00 Oct 8-12 150kb or MOPS +0.00 Oct
10 cents/b on the day at minus 2 cents/b. Sept. 18 was assessed at a premium of 75 cents/b to 14-18 150kb; Gasoil 10ppm: FOB Straits: BP offers Oct
Gasoil .05%S (500ppm) FOB Spore Cargo Mean of Platts Arab Gulf gasoil assessment, taking +0.00 Oct 14-18 150kb BP GTC. Seller represents and
<AAFEX00> assessment rationale: into consideration prices in the FOB Fujairah gasoil warrants that, to the best of its knowledge, the Cargo
The FOB Singapore Gasoil 0.05% (500 ppm) cargo market as well as differentials for recent cargo trades delivered under this Contract:(i) does not contain
assessment Sept. 18 took into consideration the heard in the Middle East. The MOPAG Gasoil Strip was any product that was produced, manufactured or
movement in the FOB Singapore Gasoil 0.25% (2,500 $80.56/b. processed in, or exported from; or (ii) has not been
ppm) cargo assessment. The front loading window was Exclusions: produced through a blending process that uses
assessed at MOPS Gasoil minus $1.00/b, the middle No market data was excluded from the Sept. 18, product or components that have been produced,
loading window was assessed at MOPS Gasoil minus 2024 Fujairah Gasoil Market-on-Close assessment manufactured or processed in, or exported from,
$1.16/b, and the back loading window was assessed at process. in each case, the Russia Federation or Crimea, the
MOPS Gasoil $1.09/b. Platts is part of S&P Global Commodity Insights. Donetsk People’s Republic or the Luhansk People’s
Gasoil FOB Spore Cargo <POABC00> assessment Republic in Ukraine
rationale: Platts Asia and Middle Eastern Gasoil Cargo Trade: No trades reported
The FOB Singapore Gasoil 0.001% (10 ppm) cargo Bids, Offers, Trades This assessment commentary applies to the
assessment Sept. 18 took into consideration the following market data codes: <AAOVC00> <AAFEX00>
adjusted relationship between the physical and swaps Bids: Gasoil 10ppm: FOB Straits: Unipec bids <AACUE00> <POABC00> <AAFEZ00>
markets. The cash differential was up 5 cents/b day MOPS -0.50 Oct 8-12 150kb (Deemed pricing Oct 7-11)

Platts Asia and Middle Eastern Gasoil FOB 18, 2024 Singapore Gasoil Market-on-Close Sept. 17, partly buoyed by two firmer deals for October-
Cargo Daily Rationale & Exclusions assessment process. loading cargoes, which PetroChina bought from
Gasoil .25%S (2500ppm) FOB Spore Cargo Platts is part of S&P Global Commodity Insights. Shell and Chevron during the Platts Market on Close
<AACUE00> assessment rationale: assessment process.
The FOB Singapore Gasoil 0.25% (2,500 ppm) cargo Platts Asia and Middle East Fuel Oil Daily In Europe, the very low sulfur fuel oil complex was
assessment Sept. 18 was assessed at MOPS Gasoil Market Analysis balanced on the back of steady bunkering demand,
minus $1.25/b, based on bids for cargoes loading Oct. while due to the high premiums in Singapore, LSFO and
Asia’s LSFO market structure, refining margins
3-7, Oct. 8-12 and Oct. 13-17 at MOPS Gasoil minus VLSFO components were being pulled east, resulting in
seen weaker
$1.30/b after normalizing for deemed pricing. a tightening across both markets in Europe, S&P Global
Gasoil .05% (500ppm) FOB Arab Gulf Cargo 0.5%S marine fuel cash premium rises amid firm Commodity Insights reported earlier.
<AAFEZ00> assessment rationale: demand for Oct loading cargoes Platts assessed the spread between Singapore
The FOB Arab Gulf Gasoil 0.05% (500 ppm) cargo Higher European arbitrage arrivals to weigh on marine fuel 0.5%S cargo and FOB Rotterdam 0.5%S
assessment was derived as a freight netback from Asia’s LSFO market in coming weeks barge assessments or the East-West spread at $48.25/
the FOB Singapore Gasoil 0.001% (10 ppm) cargo mt on Sept. 17, unchanged on the day but up 1.6% so
assessment using the following inputs: FOB Singapore The Asian low sulfur fuel oil swaps spread was seen far this week, Commodity Insights data showed.
Gasoil 0.001% (10 ppm) cargo assessment minus the weaker Sept. 18, but traders said the prompt market Meanwhile, the spread between the Singapore 0.5%
cost of transporting a 55,000-mt clean cargo from a remains somewhat supported by firm Chinese demand, sulfur marine fuel oil and the benchmark high sulfur
basket of ports in the Persian Gulf to Singapore, and although the Mid-Autumn Festival was seen partly fuel oil cargo prices — known as the Hi-5 spread — was
taking into account the cash differential between the dampening bunkering activity this week. assessed at $132.28/mt on Sept. 17, up marginally by
FOB Arab Gulf 10 ppm and 500 ppm assessments. Sizeable volumes of arbitrage inflows from the West 8 cents from the preceding session. The Hi-5 spread,
Gasoil FOB Arab Gulf Cargo <POAAT00> were now expected to continue well into November however, has narrowed nearly 23% in the last two
assessment rationale: that would weigh on the Asian LSFO fundamentals weeks, S&P Global data showed.
The FOB Arab Gulf Gasoil 0.001% (10 ppm) cargo going forward, trade sources said. The Singapore 380 CST HSFO cargo’s cash
assessment was derived as a freight netback from The Singapore 0.5%S marine fuel October- differential over the MOPS 380 CST HSFO assessment
the FOB Singapore Gasoil 0.001% (10 ppm) cargo November swaps time spread was pegged at $9.75/mt was assessed at a premium of $17.08/mt on Sept. 17,
assessment using the following input: FOB Singapore in midafternoon Asian trading Sept. 18, narrowing from down from $17.50/mt on Sept. 16, taking a beating
Gasoil 0.001% (10 ppm) cargo assessment minus the Platts assessment of the spread at $10.25/mt at the from a competitive offer from Shell during the physical
cost of transporting a 55,000-mt clean cargo from a Sept. 10 Asian close. trade window.
basket of ports in the Persian Gulf to Singapore. The Singapore front-month crack spread for the The Singapore 380 CST HSFO October-November
Exclusions: 0.5% sulfur marine fuel grade against ICE Brent futures market structure was pegged at $10/mt in
No market data was excluded from the Sept. was assessed at $11.53/b on Sept. 17, inching up from midafternoon Asian trade Sept. 18, down from Platts’
$11.25/b on Sept. 16, but still down about 13% so far assessment of the spread at $10.20/mt at the Asian
PODCAST in September. The front-month crack for October was close Sept. 17.
pegged lower on the day at $11.10/b in midafternoon Platts is part of Commodity Insights.
Asian trading Sept. 18.
Platts assessed the Singapore marine fuel 0.5%S Platts FOB Singapore Marine Fuel 0.5% cargo
cargo’s cash differential over the Mean of Platts Daily Rationale & Exclusions
Singapore marine fuel 0.5%S assessment 16 cents/ Marine Fuel 0.5% FOB Spore cargo $/mt
mt higher on the day at a premium of $20.35/mt on <AMFSA00> Assessment Rationale: The FOB Singapore

Marine Fuel 0.5% assessment Sept. 18 reflected a trade produced, manufactured or processed in, or exported that was produced, manufactured or processed in, or
for an Oct. 6-10 loading cargo, which PetroChina bought from; or (ii) has not been produced through a blending exported from; or (ii) has not been produced through
from BB Energy at Mean of Platts Singapore Marine process that uses product or components that have a blending process that uses product or components
Fuel 0.5% assessment plus $24/mt. The assessment been produced, manufactured or processed in, or that have been produced, manufactured or processed
took into consideration two offers from Shell for Oct. exported from, in each case, the Russia Federation or in, or exported from, in each case, the Russia
9-13, and Oct. 10-14 loading cargoes at MOPS plus $19/ Crimea, the Donetsk People’s Republic or the Luhansk Federation or Crimea, the Donetsk People’s Republic or
mt, and MOPS plus $18/mt, respectively. People’s Republic in Ukraine. Seller shall provide, upon the Luhansk People’s Republic in Ukraine.)
Exclusions: No market data was excluded from the request, documentary evidence of compliance showing Platts Marine Fuel 0.5%: FOB Straits: BP bids MOPS
Sept. 18, cargo assessment process. the origin(s) of the cargo, to Buyer’s reasonable +7.00 Oct 13-17 40kt (Seller represents and warrants
This assessment commentary applies to the satisfaction.) that, to the best of its knowledge, the cargo delivered
following market data codes: Marine Fuel 0.5% FOB Platts Marine Fuel 0.5%: FOB Straits: Gunvor bids under this Contract: (i) does not contain any product
Spore cargo $/mt <AMFSA00> MOPS +13.00 Oct 14-18 40kt (Seller represents and that was produced, manufactured or processed in, or
warrants that the cargo delivered/to be delivered under exported from; or (ii) has not been produced through
Platts FOB Singapore Marine Fuel 0.5% this Contract: (i) does not contain any product that was a blending process that uses product or components
Cargo Bids, Offers, Trades produced, manufactured or processed in, or exported that have been produced, manufactured or processed
from; or (ii) has not been produced through a blending in, or exported from, in each case, the Russia
Bids: Platts Marine Fuel 0.5%: FOB Straits: Vitol bids process that uses product or components that have Federation or Crimea, the Donetsk People’s Republic or
MOPS +8.00 Oct 3-7 40kt INCO OR been produced, manufactured or processed in, or the Luhansk People’s Republic in Ukraine.)
Platts Marine Fuel 0.5%: FOB Straits: Vitol bids exported from, in each case, the Russia Federation or Platts Marine Fuel 0.5%: FOB Straits: Total bids
MOPS +7.00 Oct 7-11 40kt INCO OR Crimea, the Donetsk People’s Republic or the Luhansk MOPS +9.00 Oct 3-7 40kt INCO OR
Platts Marine Fuel 0.5%: FOB Straits: Vitol bids People’s Republic in Ukraine. Seller shall provide, upon Platts Marine Fuel 0.5%: FOB Straits: Total bids
MOPS +6.00 Oct 11-15 40kt INCO request, documentary evidence of compliance showing MOPS +9.00 Oct 8-12 40kt INCO OR
Platts Marine Fuel 0.5%: FOB Straits: Gunvor bids the origin(s) of the cargo, to Buyer’s reasonable Platts Marine Fuel 0.5%: FOB Straits: Total bids
MOPS +13.00 Oct 3-7 40kt OR (Seller represents and satisfaction.) MOPS +9.00 Oct 13-17 40kt INCO
warrants that the cargo delivered/to be delivered under Platts Marine Fuel 0.5%: FOB Straits: BP bids MOPS Platts Marine Fuel 0.5%: FOB Straits: PetroChina
this Contract: (i) does not contain any product that was +9.00 Oct 3-7 40kt OR (Seller represents and warrants bids MOPS +12.00 Oct 3-7 40kt OR
produced, manufactured or processed in, or exported that, to the best of its knowledge, the cargo delivered Platts Marine Fuel 0.5%: FOB Straits: PetroChina
from; or (ii) has not been produced through a blending under this Contract: (i) does not contain any product bids MOPS +12.00 Oct 8-12 40kt OR
process that uses product or components that have been that was produced, manufactured or processed in, or Platts Marine Fuel 0.5%: FOB Straits: PetroChina
produced, manufactured or processed in, or exported exported from; or (ii) has not been produced through bids MOPS +12.00 Oct 13-17 40kt
from, in each case, the Russia Federation or Crimea, a blending process that uses product or components Platts Marine Fuel 0.5%: FOB Straits: P66 bids
the Donetsk People’s Republic or the Luhansk People’s that have been produced, manufactured or processed MOPS +10.00 Oct 3-7 40kt OR
Republic in Ukraine. Seller shall provide, upon request, in, or exported from, in each case, the Russia Platts Marine Fuel 0.5%: FOB Straits: P66 bids
documentary evidence of compliance showing the Federation or Crimea, the Donetsk People’s Republic or MOPS +9.00 Oct 8-12 40kt OR
origin(s) of the cargo, to Buyer’s reasonable satisfaction.) the Luhansk People’s Republic in Ukraine.) Platts Marine Fuel 0.5%: FOB Straits: P66 bids
Platts Marine Fuel 0.5%: FOB Straits: Gunvor bids Platts Marine Fuel 0.5%: FOB Straits: BP bids MOPS MOPS +8.00 Oct 13-17 40kt
MOPS +13.00 Oct 8-12 40kt OR (Seller represents and +8.00 Oct 8-12 40kt OR (Seller represents and warrants Offers: Platts Marine Fuel 0.5%: FOB Straits: BB
warrants that the cargo delivered/to be delivered under that, to the best of its knowledge, the cargo delivered Energy no longer offers offers MOPS +24.00 Oct 6-10
this Contract: (i) does not contain any product that was under this Contract: (i) does not contain any product 20kt OR after trade with PetroChina (4:14:53.314)

WD: Platts Marine Fuel 0.5%: FOB Straits: BB Energy can provide if requested documentary evidence of PLATTS FO SPR: BAL MONTH/OCT24: NEST BUYS
withdraws offer MOPS +24.00 Oct 8-12 20kt OR compliance, showing refinery origin(s) of the cargo, to FROM DARE* 5KMT AT $13.75 (08:29:46)
WD: Platts Marine Fuel 0.5%: FOB Straits: BB Energy the Buyer’s reasonable satisfaction) PLATTS FO SPR: BAL MONTH/OCT24: NEST BUYS
withdraws offer MOPS +24.00 Oct 10-14 20kt Trades: 1 trade FROM DARE* 5KMT AT $13.75 (08:29:53)
Platts Marine Fuel 0.5%: FOB Straits: BB Energy 1) Platts Marine Fuel 0.5%: FOB Straits: Oct 6-10: PLATTS FO SPR: OCT24/NOV24: VITOL SELLS TO
offers MOPS +23.00 Oct 12-16 20kt OR 20kt: PetroChina buys from BB Energy at MOPS +24.00 ONYX* 5KMT AT $11.25 (08:29:56)
Platts Marine Fuel 0.5%: FOB Straits: BB Energy (4:14:53.314) FUEL OIL 180CST SINGAPORE/FUEL OIL 380CST
offers MOPS +23.00 Oct 13-17 20kt OR This assessment commentary applies to the SINGAPORE
Platts Marine Fuel 0.5%: FOB Straits: BB Energy following market data codes: Marine Fuel 0.5% FOB PLATTS FO SPR: OCT24: MARKET SELLS TO ONYX*
offers MOPS +23.00 Oct 14-18 20kt Spore cargo $/mt <AMFSA00> 5KMT AT $11.75 (08:29:11)
WD: Platts Marine Fuel 0.5%: FOB Straits: Trafigura PLATTS FO SPR: OCT24: MARKET SELLS TO GOODE*
withdraws offer MOPS +20.00 Oct 8-12 20kt OR Platts Singapore Fuel Oil Paper Exclusions 5KMT AT $11.75 (08:29:26)
(4:27:26.247) FUEL OIL 380CST SINGAPORE
WD: Platts Marine Fuel 0.5%: FOB Straits: Trafigura Exclusions: No market data was excluded from the PLATTS FO: OCT24: HOTEI TOOK OFFER* 5KMT AT
withdraws offer MOPS +20.00 Oct 13-17 20kt Sept. 18, 2024 Asian fuel oil paper assessment process. $403.50 (08:29:11)
Platts Marine Fuel 0.5%: FOB Straits: Shell offers PLATTS FO: OCT24: DARE SELLS TO HOTEI* 5KMT
MOPS +19.00 Oct 9-13 20kt Shell GTC (It is a condition Fuel Oil Reported Deals AT $403.75 (08:29:24)
of this offer/agreement that the products sold and PLATTS FO: OCT24: GOODE SELLS TO HOTEI*
delivered by Seller will not be of Russian Federation PLATTS SINGAPORE FUEL OIL PAPER TRADES 5KMT AT $403.50 (08:29:26)
(RF) origin (which includes product exported from SUMMARY 18 Sep24 PLATTS FO: OCT24: HOTEI BUYS FROM DARE*
RF) nor blended with any RF origin product. Seller FUEL OIL 180CST SINGAPORE 5KMT AT $403.75 (08:29:28)
can provide if requested documentary evidence of PLATTS FO: OCT24: ONYX BUYS FROM MERCURIA* PLATTS FO: OCT24: HOTEI BUYS FROM DARE*
compliance, showing refinery origin(s) of the cargo, to 5KMT AT $415.25 (08:29:11) 5KMT AT $403.75 (08:29:30)
the Buyer’s reasonable satisfaction) PLATTS FO: OCT24: MERCURIA TOOK BID* 5KMT AT PLATTS FO: OCT24: ONYX SELLS TO HOTEI* 5KMT
Platts Marine Fuel 0.5%: FOB Straits: Shell offers $415.25 (08:29:26) AT $403.75 (08:29:31)
MOPS +18.00 Oct 10-14 20kt Shell GTC (It is a condition PLATTS FO SPR: BAL MONTH/OCT24: DARE PLATTS FO: OCT24: HOTEI BUYS FROM DARE*
of this offer/agreement that the products sold and SELLS TO NEST* 5KMT AT $13.00 (08:25:55) 5KMT AT $403.75 (08:29:32)
delivered by Seller will not be of Russian Federation PLATTS FO SPR: BAL MONTH/OCT24: DARE PLATTS FO: OCT24: XCONNECT BUYS FROM
(RF) origin (which includes product exported from SELLS TO NEST* 5KMT AT $13.00 (08:26:24) DARE* 5KMT AT $403.75 (08:29:45)
RF) nor blended with any RF origin product. Seller PLATTS FO SPR: BAL MONTH/OCT24: NEST BUYS PLATTS FO: OCT24: ONYX SELLS TO HOTEI* 5KMT
can provide if requested documentary evidence of FROM DARE* 5KMT AT $13.25 (08:26:53) AT $403.70 (08:29:47)
compliance, showing refinery origin(s) of the cargo, to PLATTS FO SPR: BAL MONTH/OCT24: MERCURIA PLATTS FO: OCT24: ONYX SELLS TO HOTEI* 5KMT
the Buyer’s reasonable satisfaction) SELLS TO NEST* 5KMT AT $13.00 (08:27:06) AT $403.50 (08:29:50)
Platts Marine Fuel 0.5%: FOB Straits: Shell offers PLATTS FO SPR: BAL MONTH/OCT24: NEST BUYS PLATTS FO: OCT24: ONYX SELLS TO XCONNECT*
MOPS +19.00 Oct 12-16 20kt Shell GTC (It is a condition FROM DARE* 5KMT AT $13.00 (08:27:54) 5KMT AT $403.50 (08:29:50)
of this offer/agreement that the products sold and PLATTS FO SPR: BAL MONTH/OCT24: NEST BUYS PLATTS FO: OCT24: HOTEI BUYS FROM ONYX*
delivered by Seller will not be of Russian Federation FROM DARE* 5KMT AT $13.00 (08:28:00) 5KMT AT $403.50 (08:29:55)
(RF) origin (which includes product exported from PLATTS FO SPR: BAL MONTH/OCT24: NEST BUYS PLATTS FO: OCT24: HOTEI BUYS FROM ONYX*
RF) nor blended with any RF origin product. Seller FROM DARE* 5KMT AT $13.00 (08:28:14) 5KMT AT $403.50 (08:29:56)

PLATTS FO: OCT24: HOTEI BUYS FROM ONYX* Platts Fujairah Daily Marine Fuel 0.5% Persian Gulf to the East.
5KMT AT $403.50 (08:29:59) Cargo Bids, Offers, Trades Exclusions: No market data was excluded from the
PLATTS FO: OCT24: HOTEI BUYS FROM DARE* Sept. 18 high sulfur fuel oil cargo assessment process.
5KMT AT $404.00 (08:30:01) Bids: No bid
PLATTS FO SPR: OCT24/NOV24: MERCURIA SELLS Offers: No offer Platts Singapore Fuel Oil Bids Offers Trades
TO GUNVOR* 5KMT AT $10.50 (08:21:38) Trades: No trade
PLATTS FO SPR: OCT24/NOV24: GOODE SELLS TO This assessment commentary applies to the Bids: PLATTS HSFO: PHYSICAL BIDS FINALS ON
HOTEI* 5KMT AT $10.50 (08:21:46) following market data codes: Marine Fuel 0.5% FOB CLOSE (180 CST):
PLATTS FO SPR: OCT24/NOV24: GOODE SELLS TO Fujairah cargo $/mt <AMFFA00> Platts HSFO 180CST: FOB Straits: Trafigura bids
TRAFIGURA* 5KMT AT $10.50 (08:21:46) MOPS +15.00 Oct 3-7 20kt OR
PLATTS FO SPR: OCT24/NOV24: PHILLIPS 66 Platts Asia and Middle East FO 180, 380 CST Platts HSFO 180CST: FOB Straits: Trafigura bids
SELLS TO HOTEI* 5KMT AT $10.50 (08:21:48) Daily Rationales & Exclusions MOPS +16.00 Oct 5-9 20kt OR
PLATTS FO SPR: OCT24/NOV24: XCONNECT FO 180 CST 3.5%S FOB Spore Cargo <PUADV00> Platts HSFO 180CST: FOB Straits: Trafigura bids
SELLS TO VITOL* 5KMT AT $10.25 (08:23:23) assessment rationale: The FOB Singapore 180 CST MOPS +15.00 Oct 11-15 20kt
PLATTS FO SPR: OCT24/NOV24: SERENITY BUYS HSFO assessment Sept. 18 took into consideration Platts HSFO 180CST: FOB Straits: Vitol bids MOPS
FROM HENGLI* 5KMT AT $10.50 (08:29:54) bids from Trafigura for Oct. 3-7, Oct. 5-9, and Oct. 11-15 +8.00 Oct 7-11 20kt INCO
PLATTS FO SPR: OCT24/NOV24: SERENITY BUYS loading cargoes at Mean of Platts Singapore 380 CST PLATTS HSFO: PLATTS HSFO: PHYSICAL BIDS
FROM VITOL* 5KMT AT $10.50 (08:29:59) HSFO assessment plus $15/mt, MOPS plus $16/mt, and FINALS ON CLOSE (380 CST):
PLATTS SINGAPORE MARINE FUEL 0.5% PAPER MOPS plus $15/mt, respectively. Platts HSFO 380CST: FOB Straits: Rex Commodities
TRADES SUMMARY 18 Sep24 FO 380 CST 3.5%S FOB Spore Cargo <PPXDK00> bids MOPS +9.00 Oct 3-7 20kt OR (It is a condition
MARINE FUEL 0.5% FOB SINGAPORE (PLATTS) assessment rationale: The FOB Singapore 380 CST of this bid/agreement that the products sold and
PLATTS MARINE FUEL: OCT24: MERCURIA BUYS HSFO assessment Sept. 18 took into consideration delivered by Seller will not be of Russian Federation
FROM ONYX* 5KMT AT $528.50 (08:30:12) notional values in the absence of any competitive bids (RF) origin (which includes product exported from
PLATTS MARINE FUEL SPR: BAL MONTH/ or offers demonstrating the values otherwise. RF), nor blended with any RF origin product. Buyer
OCT24: MERCURIA SELLS TO GOODE* 5KMT AT $15.00 FO 180 CST 3.5%S FOB Arab Gulf Cargo reserves the right to ask for documentary evidence of
(08:29:42) <PUABE00> assessment rationale: The FOB Arab compliance, showing refinery origin(s) of the cargo, to
PLATTS MARINE FUEL SPR: BAL MONTH/OCT24: Gulf 180 CST HSFO assessment was derived as a the Buyer’s reasonable satisfaction.)
MERCURIA SELLS TO PHILLIPS 66* 5KMT AT $15.00 freight netback from the FOB Singapore 180 CST Platts HSFO 380CST: FOB Straits: Rex Commodities
(08:29:44) HSFO assessment using the following calculation: bids MOPS +9.00 Oct 8-12 20kt OR (It is a condition
PLATTS MARINE FUEL SPR: OCT24/NOV24: FOB Singapore 180 CST HSFO assessment minus the of this bid/agreement that the products sold and
SERENITY SELLS TO VITOL* 5KMT AT $9.50 (08:26:51) cost of transporting an 80,000-mt dirty cargo from the delivered by Seller will not be of Russian Federation
PLATTS MARINE FUEL SPR: OCT24/NOV24: Persian Gulf to the East. (RF) origin (which includes product exported from
PETROCHINA BUYS FROM SHELL* 5KMT AT $9.50 FO 380 CST 3.5%S FOB Arab Gulf Cargo RF), nor blended with any RF origin product. Buyer
(08:29:45) <AAIDC00> assessment rationale: The FOB Arab Gulf reserves the right to ask for documentary evidence of
PLATTS MARINE FUEL SPR: OCT24/NOV24: 380 CST HSFO assessment was derived as a freight compliance, showing refinery origin(s) of the cargo, to
PETROCHINA BUYS FROM VITOL* 5KMT AT $9.50 (08:29:52) netback from the FOB Singapore 380 CST HSFO the Buyer’s reasonable satisfaction.)
PLATTS MARINE FUEL SPR: OCT24/NOV24: assessment using the following calculation: FOB Platts HSFO 380CST: FOB Straits: Rex Commodities
PETROCHINA BUYS FROM SHELL* 5KMT AT $9.50 Singapore 380 CST HSFO assessment minus the cost bids MOPS +9.00 Oct 13-17 20kt (It is a condition of this
(08:30:01) of transporting an 80,000-mt dirty cargo from the bid/agreement that the products sold and delivered

by Seller will not be of Russian Federation (RF) origin blended with any RF origin product. Buyer reserves the CLOSE: FOB SOUTH KOREA: No offers
(which includes product exported from RF), nor right to ask for documentary evidence of compliance, Platts Bitumen: TRADE SUMMARY: FOB SOUTH
blended with any RF origin product. Buyer reserves the showing refinery origin(s) of the cargo, to the Buyer’s KOREA: No trade
right to ask for documentary evidence of compliance, reasonable satisfaction.) This assessment commentary applies to the
showing refinery origin(s) of the cargo, to the Buyer’s Platts HSFO 380CST: FOB Straits: Total bids MOPS following market data codes: FO 180 CST 2.0%
reasonable satisfaction.) +8.00 Oct 3-7 40kt INCO <PUAXS00> FO 180 CST 3.5% <PUADV00> FO 380 CST
Platts HSFO 380CST: FOB Straits: Trafigura bids Offers: PLATTS HSFO: PHYSICAL OFFERS FINALS 3.5% <PPXDK00>
MOPS +10.00 Oct 3-7 20kt OR ON CLOSE (180 CST): No offer
Platts HSFO 380CST: FOB Straits: Trafigura bids Bal PLATTS HSFO: PHYSICAL OFFERS FINALS ON Platts US West Coast Light End Daily
Sep -3.00 Oct 3-7 20kt OR CLOSE (380 CST): Commentary
Platts HSFO 380CST: FOB Straits: Trafigura bids Platts HSFO 380CST: FOB Straits: Shell offers MOPS
West Coast outright continues to drop
MOPS +10.00 Oct 8-12 20kt OR +19.00 Oct 10-14 20kt Shell GTC OR (It is a condition
Platts HSFO 380CST: FOB Straits: Trafigura bids Bal of this offer/agreement that the products sold and Portland unleaded gasoline differentials fall
Sep -4.00 Oct 8-12 20kt OR delivered by Seller will not be of Russian Federation
Platts HSFO 380CST: FOB Straits: Trafigura bids (RF) origin (which includes product exported from Los Angeles CARBOB outright prices continued to
MOPS +10.00 Oct 13-17 20kt OR RF) nor blended with any RF origin product. Seller plunge on Sept. 18 despite a slightly bullish NYMEX
Platts HSFO 380CST: FOB Straits: Trafigura bids Bal can provide if requested documentary evidence of October RBOB futures contract.
Sep -6.00 Oct 13-17 20kt compliance, showing refinery origin(s) of the cargo, to Platts assessed Los Angeles CARBOB differential
Platts HSFO 380CST: FOB Straits: P66 bids MOPS the Buyer’s reasonable satisfaction) down by 6 cents on the day, at futures plus 20 cents/
+9.00 Oct 3-7 40kt OR Platts HSFO 380CST: FOB Straits: Shell offers MOPS gal, and with the outright price to close at $2.2107/gal.
Platts HSFO 380CST: FOB Straits: P66 bids MOPS +19.00 Oct 14-18 20kt Shell GTC (It is a condition of this The plunge in outright prices came after refinery
+9.00 Oct 8-12 40kt OR offer/agreement that the products sold and delivered utilization rose to 90 % compared to 88.6 % the prior
Platts HSFO 380CST: FOB Straits: P66 bids MOPS by Seller will not be of Russian Federation (RF) origin week, after PBF Energy reported multiple unplanned
+9.00 Oct 13-17 40kt (which includes product exported from RF) nor flaring events from its 160,000 b/d Torrance,
Platts HSFO 380CST: FOB Straits: Shell bids MOPS blended with any RF origin product. Seller can provide California, refinery, last week. The most recent Energy
+8.00 Oct 8-12 20kt OR (It is a condition of this bid/ if requested documentary evidence of compliance, Information Administration data released on Sept.
agreement that the products sold and delivered by showing refinery origin(s) of the cargo, to the Buyer’s 18 showed.
Seller will not be of Russian Federation (RF) origin reasonable satisfaction) Platts assessed the AZRBOB outright price in
(which includes product exported from RF), nor Trades: No trade Arizona down by 12 cents/gal to close at $2.2607/gal
blended with any RF origin product. Buyer reserves the Platts Bitumen: PHYSICAL BIDS FINALS ON CLOSE: and down the same amount to $2.4607/gal for the
right to ask for documentary evidence of compliance, FOB STRAITS: No bid premium grade. The differential fell 6 cents to close to
showing refinery origin(s) of the cargo, to the Buyer’s Platts Bitumen: PHYSICAL OFFERS FINALS ON futures plus 25 cents/gal and to close futures plus 45
reasonable satisfaction.) CLOSE: FOB STRAITS: No offer cents/gal, respectively.
Platts HSFO 380CST: FOB Straits: Shell bids MOPS Platts Bitumen Trade Summary: FOB STRAITS: Meanwhile, Platts assessed unleaded gasoline
+8.00 Sep Oct 13-17 20kt (It is a condition of this bid/ No trade outright price in Portland down again, dropping 12
agreement that the products sold and delivered by Platts Bitumen: PHYSICAL BIDS FINALS ON CLOSE: cents/gal to $2.0107/gal.
Seller will not be of Russian Federation (RF) origin FOB SOUTH KOREA: No bids Platts is part of S&P Global Commodity Insights.
(which includes product exported from RF), nor Platts Bitumen: PHYSICAL OFFERS FINALS ON

Platts Middle East Sour Crude Daily Market A Japanese refinery source noted that at least two Platts Middle East Sour Crude Bids, Offers,
Analysis of the three major refiners in Japan were expected to Trades
have steady crude procurement volumes on the month
Large volumes of medium, sour crudes traded
for the November-loading cycle. Bids:
Dubai crude cracking netback margins slip for Among Iraqi Basrah crudes, negotiations were heard PLATTS DUBAI: NOV24: NORTH BIDS 25KB AT
third day ongoing for October-loading cargoes. Value for October $73.44 AND WITHDRAWS DURING EXTENSION
Oct Basrah Medium valued at parity to small Basrah Medium was heard from one trader at parity to PLATTS DUBAI: NOV24: MITSUI NO LONGER BIDS
discounts to OSP small discounts to the grade’s official selling price, FOB. AFTER TRADE
“European refinery margins are getting worse, so PLATTS DUBAI: NOV24: VITOL NO LONGER BIDS
Heavy movement of medium, sour crudes was heard Basrah Medium will be weaker,” the trader said. AFTER TRADE
in the Asian and Middle East sour crude market on Platts is part of S&P Global Commodity Insights. Offers:
Sept. 18 as spot trading picked up pace. PLATTS DUBAI: NOV24: UNIPEC OFFERS 25KB
A Chinese major was heard to have bought at least Platts Mideast Sour Crude Daily Rationales & AT $73.90
four cargoes of November-loading Upper Zakum crude Exclusions PLATTS DUBAI: NOV24: EXXONMOBIL NO LONGER
during the Sept. 17 session, at premiums of around Dubai Mo01 <PCAAT00> assessment rationale: OFFERS AFTER TRADE
$2/b to Platts Dubai crude assessments, FOB. The November cash Dubai assessment Sept. 18 took PLATTS DUBAI: NOV24: RELIANCE NO LONGER
A separate Chinese refiner was also heard to have into consideration bids and offers for cash Dubai OFFERS AFTER TRADE
bought November-loading Upper Zakum crude at partials that traded at $73.45/b towards the end of PLATTS DUBAI: NOV24: TRAFIGURA NO LONGER
premiums in the high-$1.90s/b to Platts Dubai, FOB. the Platts Market on Close assessment process, which OFFERS AFTER TRADE
A Japanese refiner meanwhile was heard to have demonstrated value to be higher day on day. Trades:
bought Das blend crude at premiums in the $1.20s/b to Oman Blend Mo01 <PCABS00> assessment PLATTS DUBAI: NOV24: EXXONMOBIL SELLS TO
Platts Dubai, FOB. rationale: The November cash Oman assessment Sept. MITSUI* 25KB AT $73.45 (08:29:04)
Some traders questioned the sustainability of such 18 took into consideration values heard in the broader PLATTS DUBAI: NOV24: RELIANCE SELLS TO
levels for medium sours, where traded premiums hit market and Oman’s notional spread to cash Dubai. MITSUI* 25KB AT $73.45 (08:29:09)**
four-month highs even as refining margins slipped to Exclusions: No market data was excluded from the PLATTS DUBAI: NOV24: EXXONMOBIL SELLS TO
multi-year lows previously reached in May. Middle East sour crude MOC assessment process. MITSUI* 25KB AT $73.45 (08:29:12)
The Dubai Singapore cracking netback margin Platts is part of S&P Global Commodity Insights. PLATTS DUBAI: NOV24: RELIANCE SELLS TO VITOL*
slipped for a third straight day during the Sept. 17 25KB AT $73.35 (08:29:14)
session to minus 63 cents/b, down 12 cents/b on the Platts Oil Mideast Sour Crude PLATTS DUBAI: NOV24: MITSUI BUYS FROM
day, a low not seen since end-May. Convergences EXXONMOBIL* 25KB AT $73.45 (08:29:15)
“Market sentiment is not strong. But trades seem to PLATTS DUBAI: NOV24: EXXONMOBIL SELLS TO
suggest otherwise,” one trader said. **Platts Crude: Reliance declares a cargo of MITSUI* 25KB AT $73.45 (08:29:19)
Nonetheless, some noted that this still depended November Upper Zakum crude to Mitsui following the PLATTS DUBAI: NOV24: MITSUI BUYS FROM
on whether refiners were serving domestic or export convergence of 20 partials in Platts cash Dubai. EXXONMOBIL* 25KB AT $73.45 (08:29:22)
markets, with margins in countries with large domestic ***Platts Crude: ExxonMobil declares a cargo of PLATTS DUBAI: NOV24: MITSUI BUYS FROM
centers such as Japan or Thailand still relatively November Al Shaheen crude to Mitsui following the EXXONMOBIL* 25KB AT $73.45 (08:29:26)
healthy. convergence of 20 partials in Platts cash Dubai.

PLATTS DUBAI: NOV24: MITSUI BUYS FROM Platts Asia Pacific Sweet Crude Daily Elsewhere, more valuations emerged for Australia’s
EXXONMOBIL* 25KB AT $73.45 (08:29:29) Market Analysis North West Shelf condensate loading over November.
PLATTS DUBAI: NOV24: EXXONMOBIL SELLS TO Traders valued NWS at discounts of Dated Brent
PV Oil awards Chim Sao and Ruby tenders
MITSUI* 25KB AT $73.45 (08:29:32) minus $6s/b to minus $8s/b, FOB, compared to prior
PLATTS DUBAI: NOV24: EXXONMOBIL SELLS TO PV Oil issues new tender for 300,000 barrels of valuations of minus $3s/b to minus $7s/b over the
NORTH* 25KB AT $73.40 (08:29:34) SV-DN crude same benchmark.
PLATTS DUBAI: NOV24: EXXONMOBIL SELLS TO “Margins are getting worse, downstream supplies
MITSUI* 25KB AT $73.45 (08:29:39) Multiple tenders and tender results emerged for are high and we heard more crackers and splitters
PLATTS DUBAI: NOV24: MITSUI BUYS FROM Vietnamese crude barrels in the Asia-Pacific regional based in Indonesia and Korea will do further run cuts,”
RELIANCE* 25KB AT $73.45 (08:29:41) market on Sept. 18. a Singapore-based trader said.
PLATTS DUBAI: NOV24: MITSUI BUYS FROM Vietnam’s PV Oil issued a fresh tender offering Another trader added that the Nov. 4-8 loading
EXXONMOBIL* 25KB AT $73.45 (08:29:43) 300,000 barrels of SV-DN crude for Nov. 8-14 loading, NWS cargo placed within Pertamina’s tender faced
PLATTS DUBAI: NOV24: MITSUI BUYS FROM according to market participants. The tender closed on stiff competition, further driving down prices. The
TRAFIGURA* 25KB AT $73.65 (08:29:43) Sept. 18, with next-day validity, sources said. cargo was initially heard sold at discounts around
PLATTS DUBAI: NOV24: EXXONMOBIL SELLS TO The company previously awarded a tender offering $5s/b to $6s/b to Dated Brent, FOB, but other market
NORTH* 25KB AT $73.44 (08:29:45) 300,000 barrels of SV-DN crude loading over Sept. participants stated that the trade was in the $7s/b
PLATTS DUBAI: NOV24: MITSUI BUYS FROM 22-28 to Brunei’s Hengyi, at a premium in the low $3s/b discount range to Dated Brent.
RELIANCE* 25KB AT $73.45 (08:29:45) to the Platts Dated Brent crude assessments, FOB, Platts is part of S&P Global Commodity Insights.
PLATTS DUBAI: NOV24: MITSUI BUYS FROM according to trade sources.
EXXONMOBIL* 25KB AT $73.45 (08:29:48) For medium sweet crude barrels, initial results Platts Asia Light Sweet Crude Daily Rationale &
PLATTS DUBAI: NOV24: EXXONMOBIL SELLS TO emerged for PV Oil’s spot tenders offering 300,000 Exclusions
NORTH* 25KB AT $73.44 (08:29:48) barrels each of Chim Sao and Ruby grades that closed ESPO FOB Kozmino Mo01 Spore vs Dubai Mo01
PLATTS DUBAI: NOV24: MITSUI BUYS FROM Sept. 12 and Sept. 17, respectively. Chim Sao crude <AASEU00> assessment rationale: The ESPO M1
RELIANCE* 25KB AT $73.45 (08:29:51) was awarded to the domestic Binh Son Refinery at November assessment Sept. 18 took into consideration
PLATTS DUBAI: NOV24: RELIANCE SELLS TO VITOL* a premium in the low $4s/b to Dated Brent, FOB, the latest trade indications heard in the broader market.
25KB AT $73.35 (08:29:51) according to market participants. Award details for the Exclusions: No market data was excluded from
PLATTS DUBAI: NOV24: MITSUI BUYS FROM Ruby crude tender could not yet be ascertained. the Asia Pacific Crude Market on Close assessment
EXXONMOBIL* 25KB AT $73.45 (08:29:52)*** In comparison, the last trade for Chim Sao grade process.
PLATTS DUBAI: NOV24: EXXONMOBIL SELLS TO was for October-loading barrels at Dated Brent Platts is part of S&P Global Commodity Insights.
NORTH* 25KB AT $73.44 (08:29:53) plus high $5s/b, FOB, while Ruby crude last sold for
PLATTS DUBAI: NOV24: MITSUI BUYS FROM September-loading at Dated Brent plus low $3s/b, FOB, Platts Asia Light Sweet Crude Bids, Offers,
RELIANCE* 25KB AT $73.45 (08:29:56) sources earlier said. Trades
PLATTS DUBAI: NOV24: EXXONMOBIL SELLS TO “I would say the lower prices are due to the lower
NORTH* 25KB AT $73.44 (08:29:57) gasoil cracks,” an Asia-based trader said. Bids: NIL
PLATTS DUBAI: NOV24: MITSUI BUYS FROM The second-month gasoil and jet fuel swap Offers: NIL
EXXONMOBIL* 25KB AT $73.45 (08:29:59) crack spreads averaged at $13.91/b and $13.78/b, Trades: NIL
This assessment commentary applies to the respectively, at the Sept. 2 Asian close, compared to This assessment commentary applies to the
following market data codes: Dubai M1 <PCAAT00>, the August monthly averages of $16.04/b and $15.38/b, following market data code: ESPO M1 vs Dubai M2
Oman M1 <PCABS00> S&P Global Commodity Insights data showed. <AASEU00>

Subscriber Notes For comments and feedback, please contact the Asia-Pacific markets.
Platts editors at [email protected] and Platts is proposing to launch four new daily outright
Xconnect Market Maker LLP [email protected]. assessments and their respective monthly averages.
to join Asia jet fuel paper MOC These assessments will reflect bulk Viscosity Grade
Xconnect Market Maker LLP has advised Platts, part Alvari Pte Ltd changes entity name to Waler Pte Ltd 30 and VG 40 grade bitumen for delivery 10-25 days
of S&P Global Commodity Insights, that it would like to Waler Pte Ltd has advised Platts, part of S&P Global forward for West Coast India and 15-30 days forward
participate in the Platts Market on Close assessment Commodity Insights, that it would like to participate for East Coast India from the date of publication.
process for Asia jet fuel paper. in the Platts Market on Close assessment processes Details of the proposed assessments are as follows:
Platts has reviewed Xconnect Market Maker LLP for Asia naphtha paper, Asia mogas paper, Asia jet fuel Assessment Delivery period Quantity UoM
10-25 days 3,500-10,000
and will consider information from the entity in the paper, Asia gasoil paper and Asia fuel oil paper. CFR West Coast India VG30 US $/mt
forward mt, bulk
assessment process for Asia jet fuel paper, subject at This follows a name change from Alvari Pte Ltd to 10-25 days 3,500-10,000
CFR West Coast India VG40 US $/mt
all times to adherence with Platts editorial standards. Waler Pte Ltd. forward mt, bulk
15-30 days 3,500-10,000
Platts will publish all relevant information from Platts has reviewed Waler Pte Ltd and will consider CFR East Coast India VG30
forward mt, bulk
US $/mt
Xconnect Market Maker LLP accordingly. information from the entity in the assessment CFR East Coast India VG40
15-30 days 3,500-10,000
US $/mt
forward mt, bulk
Platts welcomes all relevant feedback regarding processes for Asia naphtha paper, Asia mogas paper,
MOC participation. Asia jet fuel paper, Asia gasoil paper and Asia fuel oil
Platts considers bids, offers and transactions by all paper, subject at all times to adherence with Platts The CFR West Coast India assessments will reflect
credible and credit-worthy parties in its assessment editorial standards. cargoes delivered to the ports of Kandla, Mundra and
processes. Platts will publish all relevant information from Pipavav in Gujarat. Additionally, Platts may publish bids,
For comments and feedback, please contact Waler Pte Ltd accordingly. offers and trades for deliveries to Mumbai, Mangalore
Platts editors at [email protected] and Platts welcomes all relevant feedback regarding and Kochi, normalized to Gujarat ports.
[email protected]. MOC participation. The CFR East Coast India assessments will
Platts considers bids, offers and transactions by all reflect cargoes delivered to Haldia, Kolkata, Chennai,
Geneva Trading USA credible and credit-worthy parties in its assessment Vishakhapatnam and Paradip, normalized to Haldia.
to join Platts Asia mogas paper MOC processes. Pricing information for material with other
Geneva Trading USA, LLC has advised Platts, part For comments and feedback, please contact specifications and terms may be considered for the
of S&P Global Commodity Insights, that it would like to Platts editors at [email protected] and assessments, normalized to the proposed standard.
participate in the Platts Market on Close assessment [email protected]. The assessments will reflect market value at
process for Asia mogas paper. the close of the Asian trade at 4:30 pm Singapore
Platts has reviewed Geneva Trading USA, LLC Platts proposes to launch daily CFR India time and follow the Singapore publication schedule.
and will consider information from the entity in the bitumen assessments from Nov 1 Bids, offers and trades reported throughout the day
assessment process for Asia mogas paper, subject at Platts, part of S&P Global Commodity Insights, may be considered in the assessment process, with
all times to adherence with Platts editorial standards. proposes to launch daily assessments for bitumen values normalized to the market close at 4:30 pm
Platts will publish all relevant information from delivered on a CFR basis to West Coast India and East Singapore time.
Geneva Trading USA, LLC accordingly. Coast India, respectively, effective Nov. 1.
Platts welcomes all relevant feedback regarding The new assessments will complement Platts’ Platts seeks feedback on assessments for packaged
MOC participation. Platts considers bids, offers and existing FOB Singapore and FOB South Korea bitumen bitumen delivered to West Coast India
transactions by all credible and credit-worthy parties assessments, providing greater price transparency and Platts understands that while India is primarily
in its assessment processes. information in the waterborne trade for the product in a bulk market for bitumen, this is supplemented by

imports of packaged material in drums, mainly due to fuel 0.5% and 380 CST HSFO. RON 97 gasoline assessments.
logistical constraints around receiving bulk tankers in The standards applicable to approved FSUs Details of the earlier consultation can be found
certain ports/regions. require that sellers specifically name the vessel used here: https://www.spglobal.com/commodityinsights/
Platts is therefore considering launching as a loading point at the time of submitting offers to en/our-methodology/subscriber-notes/061324-platts-
assessments for packaged bitumen delivered in Commodity Insights for publishing. Any offer of oil from opens-consultation-on-fob-singapore-gasoline-
drums to West Coast India, in addition to the proposed vessels accredited for the FOB Singapore cargo and clip-sizes .
assessments for bulk VG 30 and VG 40 grades. Platts ex-wharf bunkers MOC process for marine fuel 0.5% The proposed change to the RON 92 volume size
seeks feedback on how to best reflect typical terms and 380 CST HSFO would be on FOB FSU basis. Sellers reflects feedback gathered during the consultation
of trade relevant for the packaged bitumen market, cannot unilaterally nominate an approved vessel as a and changes to prevailing trading patterns in
specifically location, quality, volumes and other loading point in FOB Straits trades. the region.
relevant parameters. Please send all feedback and comments by Platts understands that more regional gasoline
More details on the Platts Asian bitumen Sept. 19 to [email protected] and buyers are now seeking larger clip sizes of 100,000
assessments are available here: https://www. [email protected]. For written comments, barrels or more of RON 92 gasoline on FOB Singapore,
spglobal.com/commodityinsights/PlattsContent/_ please provide a clear indication if comments are Malaysia and Indonesia basis. Rising freight costs
assets/_files/en/our-methodology/methodology- not intended for publication by S&P Global for public due to higher freight rates for coastal tankers, and an
specifications/asia-refined-oil-products- viewing. S&P Global will consider all comments aging coastal tanker fleet for gasoline, mean that the
methodology.pdf. received and make comments not marked as marginal clip size in the market is no longer reflecting
Please send all feedback, comments and confidential available upon request. 50,000 barrels for the lowest RON gasoline grade.
questions to [email protected] and
[email protected] by Sept. 27. Platts proposes to raise FOB Singapore RON 92 Invites additional feedback on RON 95
For written comments, please provide a clear gasoline volume from Jan 2, 2025 and RON 97 methodology
indication if they are not intended for publication FOB Singapore RON 92 would reflect new volume The feedback gathered during the consultation
by Platts for public viewing. Platts will consider all range of 100,000-200,000 barrels process on RON 95 and RON 97 was more mixed, and
comments received and will make those not marked as Further feedback sought by Oct. 4 on whether to Platts is not at this time proposing any change to the
confidential available upon request. change RON 95, RON 97 volumes current methodology, which is based on a minimum of
50,000 barrels and a maximum of 150,000 barrels, with
Platts proposes including SA Oceania FSU in Platts, part of S&P Global Commodity Insights, precedence given to the smaller volume in the event
Singapore fuel oil cargo, ex-wharf bunker MOC is proposing to change the methodology of its FOB of any conflicting bids, offers or trades on different
Platts, part of S&P Global Commodity Insights, is Singapore RON 92 gasoline assessment to reflect a clip sizes.
considering the inclusion of the vessel SA Oceania as minimum volume of 100,000 barrels and a maximum of For the higher RON gasoline grades, Platts
an additional loading point in its Singapore Market 200,000 barrels, with effect from Jan. 2, 2025. understands that a critical mass of disports in the
on Close assessment process for cargo and ex-wharf Platts assessments for FOB Singapore RON 92, region continues to import 50,000 barrels for a single
bunkers for marine fuel 0.5% and 380 CST HSFO from RON 95 and RON 97 gasoline currently reflect the loading on smaller coaster tankers. At the same time,
Oct. 18. value of cargoes of a minimum of 50,000 barrels and some feedback highlighted the desirability of reflecting
SA Oceania (IMO 9246633) is operated by Southern a maximum of 150,000 barrels each for loading 15-30 the same volume size across the three grades, to allow
Ace Marine Sdn. Bhd. as a floating storage unit at days forward from the date of publication. the inter-RON spreads to reflect the value of octane as
Kukup Port Limit. There are currently 10 FSUs approved The proposal follows a consultation process started closely as possible.
as additional loading points in the FOB Singapore in June to seek market feedback on the volume sizes Platts therefore invites further feedback on its FOB
cargo and ex-wharf bunkers MOC process for marine reflected in Platts FOB Singapore RON 92, RON 95 and Singapore RON 95 and RON 97 gasoline volume sizes.

Specifically, considering the proposed change to RON will include assessments for refrigerated propane and in order to ensure an orderly and transparent price
92 volume sizes, Platts seeks feedback on the following butane cargoes with a minimum size of 11,000 mt and assessment process. Details can be found in this
possible actions for the higher-octane grades: a maximum size of 44,000 mt, for delivery 20-35 days guide: https://www.spglobal.com/commodityinsights/
a. Leave the current methodology unchanged. forward, on an outright basis, as well as their cash PlattsContent/_assets/_files/en/our-methodology/
b. Raise the volume size for RON 95 and RON 97 in differentials to the front-month Saudi Aramco contract methodology-specifications/oil-timing-increment-
line with the proposed change to RON 92. price (M1) derivatives. guidelines.pdf.
c. Leave the current volume sizes for RON 95 and Details of the new Platts East China LPG Please send comments and questions
RON 97 unchanged, but consider the 100,000-barrel assessments are as follows: to [email protected] and
clip size to take precedence in the assessment Monthly [email protected].
Assessment Symbol
process. average For written comments, please provide a clear
Propane Refrigerated CFR East China 20-35 days
The following FOB Singapore assessments, Cargo
PNCBA00 PNCBA03 indication if they are not intended for publication
published in Asia-Pacific/Arab Gulf Market Scan and Propane CFR East China 20-35 days vs Saudi Propane
PNCBB00 PNCBB03 by Platts for public viewing. Platts will consider all
CP M1
Platts Global Alert pages 2304 and 2310 are impacted Butane Refrigerated CFR East China 20-35 days CargoPNCBC00 PNCBC03 comments received and will make those not marked as
by this proposal and the request for more feedback: Butane CFR East China 20-35 days vs Saudi Butane
PNCBD00 PNCBD03
confidential available upon request.
CP M1
Assessment Code
Gasoline Unl 97 FOB Spore Cargo
Gasoline Unl 95 FOB Spore Cargo
PGAMS00
PGAEZ00
Platts to launch North Asia propane
Gasoline Unl 92 FOB Spore Cargo PGAEY00 The new assessments were first proposed in a derivatives assessments Oct 1
subscribe note published July 12. Platts, part of S&P Global Commodity Insights,
Full details of the current gasoline assessment Discharge ports: The assessments reflect cargoes will launch a series of price assessments reflecting
methodology can be found at: http://plts.co/ delivered into Ningbo. Deliveries into other safe and North Asia propane derivatives, interregional propane
N5hJ30qCT0D. sound ports in Zhejiang and Jiangsu provinces of derivatives and interproduct derivatives spreads
Please send all feedback and comments by East China may be considered for inclusion in the effective Oct. 1.
Oct. 4, to [email protected] and assessments, normalized to a Ningbo basis. Platts will publish Month 1, Month 2, Month 3
[email protected] . Product specifications: The CFR East China propane and front-quarter North Asia propane derivatives
For written comments, please provide a clear and butane assessments reflect the existing Platts assessments, along with North Asia propane/Saudi
indication if comments are not intended for publication North Asia propane and butane specifications. For full Aramco contract price propane derivatives spread
by Platts for public viewing. Platts will consider all details of the specification, please see: asia-refined-oil- and North Asia propane/Mean of Platts Japan
comments received and will make comments not products-methodology.pdf (spglobal.com). naphtha derivatives spread assessments on the same
marked as confidential available upon request . Timestamp: The CFR East China propane and forward strip.
butane assessments will reflect the tradable value of The new assessments were first proposed in a
Platts to launch East China propane, these products at the end of the Platts Asia physical subscriber note published July 12.
butane physical assessments Oct 1 LPG Platts Market on Close assessment process at Timestamp: The North Asia propane derivatives
Platts, part of S&P Global Commodity Insights, will 5:00 pm Singapore time (0900 GMT). In the absence and North Asia propane/Saudi Aramco CP propane
launch propane and butane physical assessments on of any bids, offers or trades in the MOC, information derivatives assessments will be calculated from
a CFR East China basis from Oct. 1, amid an increase in heard in over-the-counter markets may be taken into existing Platts assessments at the close of the Asian
LPG inflows into the region. consideration. LPG trading session at 5:00 pm Singapore time
Platts will publish four new daily CFR East China Platts has established clearly defined timing (0900 GMT). The North Asia propane/MOPJ naphtha
LPG physical assessments and their respective guidelines and standards of incrementability that derivatives spread assessments will be calculated from
monthly averages. The four new daily assessments apply when publishing bids and offers during the MOC existing Platts assessments at their respective close.

Volume: The new propane outright and spread methodology-specifications/oil-timing-increment- to [email protected] and
derivatives assessments will reflect a tradeable clip guidelines.pdf. [email protected].
size of 5,000 mt. Platts has established clearly defined The new propane derivatives assessments will be For written comments, please provide a clear
timing guidelines and standards of incrementability assessed based on bids, offers or trades seen during indication if they are not intended for publication
that apply when publishing bids and offers during the the MOC. In the absence of any bids, offers or trades by Platts for public viewing. Platts will consider all
Platts Market on Close assessment process to ensure in the MOC, information from derivatives exchanges or comments received and will make those not marked as
an orderly and transparent price assessment process: heard in over-the-counter markets may be taken into confidential available upon request.
https://www.spglobal.com/commodityinsights/ consideration.
PlattsContent/_assets/_files/en/our-methodology/ Please send comments and questions

China tanker fixtures

Vessel name Volume (kt) Grade Origin Port Arrival Buyers
ALMI HYDRA 145 Basrah Medium Iraq Dalian 9/1/2024 Hengli Petrochemical
ALMI HYDRA 130 Basrah Heavy Iraq Dalian 9/1/2024 Hengli Petrochemical
ANITA 270 Mal Blend Malaysia Qingdao 9/2/2024 Tai Li Heng
APOLLONAS 280 Basrah Heavy Iraq Zhoushan 8/31/2024 Zhejiang Petroleum & Chemical
ARNO BABAJANYAN 10 Fuel Oil Russia Laizhou 9/3/2024 TBA
AROON 269 Mal Blend Malaysia Qingdao 9/20/2024 TBA
AVENTUS I 137 Mal Blend Malaysia Yantai 9/5/2024 TBA
BELGOROD 140 Urals Russia Dongjiakou 9/7/2024 Hualian
BLAZERS 300 Bitumen Blend Malaysia Yantai 9/13/2024 Jincheng
BLISSFUL SEA 273 Mal Blend Malaysia Dongjiakou 9/20/2024 TBA
BRATSK 100 Urals Russia Yantai 9/17/2024 TBA
CRIUS 100 ESPO Russia Dongying 9/24/2024 TBA
DHT SCANDINAVIA 280 Arab Light Saudi Arabia Zhoushan 9/5/2024 Zhejiang Petroleum & Chemical
DIMITRA II 98 Mal Blend Malaysia Yantai 9/20/2024 TBA
EAGLE VENICE 135 Arab Saudi Arabia Lianyungang 9/11/2024 Shenghong Petrochemical
EAGLE VENICE 135 Khafji Kuwait Lianyungang 9/11/2024 Shenghong Petrochemical
ELINE 270 Mal Blend Malaysia Yantai 8/28/2024 Hualian
EMILY S 100 ESPO Russia Yantai 9/2/2024 TBA
ERECTER 280 Arab Light Saudi Arabia Zhoushan 9/23/2024 Zhejiang Petroleum & Chemical
EVERSHINE 95 Mal Blend Malaysia Dongjiakou 9/11/2024 Shenchi
FIESTA 100 Fuel Oil Russia Yantai 9/20/2024 Shangneng
FIONA 150 Fuel Oil Malaysia Dongjiakou 9/24/2024 TBA
GOODWIN 130 Mal Blend Malaysia Rizhao 8/31/2024 TBA
HESTIA 260 Crude Malaysia Yantai 10/23/2024 TBA
HUIHAI PACIFIC 100 ESPO Russia Dongjiakou 9/2/2024 Lijin
JADEAR 260 Mal Blend Malaysia Rizhao 9/10/2024 TBA
JAMES II 140 Mal Blend Malaysia Rizhao 9/22/2024 TBA
JAYA 140 Arab Light Saudi Arabia Zhoushan 9/15/2024 Zhejiang Petroleum & Chemical
JAYA 140 Arab Medium Saudi Arabia Zhoushan 9/15/2024 Zhejiang Petroleum & Chemical
KITAKAZE 100 Bitumen Blend Malaysia Yantai 9/11/2024 Jincheng
KITAKAZE 100 Bitumen Blend Malaysia Yantai 9/11/2024 Shengxing
KITAKAZE 100 Bitumen Blend Malaysia Yantai 9/11/2024 Wonfull
LUCKY FAIRY 100 Fuel Oil Russia Rizhao 9/14/2024 TBA
LYDIA II 278 Mal Blend Malaysia Dongjiakou 9/15/2024 TBA
MARAN APHRODITE 280 Arab Heavy Saudi Arabia Dalian 9/11/2024 Hengli Petrochemical
MERMAR 100 ESPO Russia Dongying 10/7/2024 TBA
MERMAR 100 ESPO Russia Dongjiakou 9/10/2024 Lijin
NAVE QUASAR 140 Arab Light Saudi Arabia Zhoushan 8/30/2024 Zhejiang Petroleum & Chemical
NAVE QUASAR 135 Arab Extra Light Saudi Arabia Zhoushan 8/30/2024 Zhejiang Petroleum & Chemical
NESO 270 Mal Blend Malaysia Yantai 9/17/2024 TBA
NEW FRONTIER 270 Murban UAE Dongjiakou 9/11/2024 TBA
NEW HARMONY 280 Arab Light Saudi Arabia Zhoushan 9/3/2024 Zhejiang Petroleum & Chemical
NEW PEACE 270 Oman Oman Yantai 9/25/2024 TBA
NICHOLE 100 ESPO Russia Dongying 9/3/2024 Sheng An
NIKOLAY ZADORNOV 90 Sokol Russia Yantai 9/10/2024 TBA
NORNS 92 Bitumen Blend Malaysia Yantai 8/31/2024 Hebei Xinhai
OLYMPIC LIFE 133 Mostarda Angola Yantai 9/26/2024 ChemChina
OLYMPIC LIFE 133 Mostarda Angola Yantai 9/27/2024 ChemChina
PACIFICOS 35 Fuel Oil Russia Dongying 9/26/2024 TBA

China tanker fixtures (continued)

Vessel name Volume (kt) Grade Origin Port Arrival Buyers
PAGOS 100 Fuel Oil Russia Yantai 9/13/2024 Xintai

RANI 100 ESPO Russia Dongying 9/3/2024 Lianhe
ROMINA 130 Mal Blend Malaysia Rizhao 9/22/2024 TBA
SAPPHO 35 Fuel Oil Russia Dongying 9/8/2024 TBA
SAPPHO 35 Fuel Oil Russia Dongying 9/28/2024 TBA
SAVIR LION 90 Fuel Oil Russia Dongying 9/3/2024 Yatong
SEASKY 90 Fuel Oil Malaysia Longkou 9/13/2024 TBA
SERENE I 271 Mal Blend Malaysia Dongjiakou 9/7/2024 TBA
SHANNON II 103 Mal Blend Malaysia Dongjiakou 8/28/2024 TBA
SI HE 100 ESPO Russia Yantai 9/4/2024 TBA
SI HE 100 ESPO Russia Dongying 9/18/2024 TBA
SIREN 120 Fuel Oil Russia Yantai 8/28/2024 Hualian
SURREY QUAYS 100 ESPO Russia Yantai 9/15/2024 TBA
TAI HE 270 Mal Blend Malaysia Qingdao 9/17/2024 TBA
TAI SHAN 100 ESPO Russia Dongjiakou 9/4/2024 Lijin
VESNA 100 ESPO Russia Dongying 9/15/2024 TBA
VESNA 100 Crude Russia Dongying 10/5/2024 TBA
VIOLA 100 Mal Blend Malaysia Dalian 9/1/2024 TBA
VLADIMIR ARSENYEV 100 Sokol Russia Qingdao 9/14/2024 Yanchang
WEN YAO 280 Mal Blend Malaysia Yantai 9/23/2024 TBA
WIN WIN 278 Mal Blend Malaysia Yantai 9/20/2024 TBA
YUG 269 Nemina Malaysia Qingdao 9/6/2024 TBA
ZALIV AMERIKA 100 Urals Russia Dongjiakou 9/21/2024 TBA

International Dirty Tanker Fixtures (PGT page 2950)

Ship name Size Type Date Route Rate Charterer
East of Suez
Princess Alexia 270 CR Oct1 PG-Thailand w50 PTT

Violando 140-130 CR Oct4 Basrah-UKCM, East w52.5, w110 ST
Monte Urbasa 140 CR Oct6 Basrah-USGC rnr Valero
Concord 130 CR Sep21 Mina Ahmadi-WCI o/p BPCL
Dynacom Tbn 130 DY Oct2 Kuwait-WCI, East rnr, w115 Newton
Nordic Pollux 130 CR Sep21 R Tanura-Chittagong rnr Norvic
Pacific Sky 80 FO Sep16 Sohar-Fujairah rnr OQ
Aljalaa 80 FO dnr PG-RSea rnr ATC
Olympic Sea 80 FO dnr PG-RSea rnr ATC
Myrtos 80 FO dnr PG-RSea rnr ATC
Hydra 80 FO Sep20 PG-Karachi rnr Scope
Yokosuka Spirit 80 FO Sep27 Spore-China w135 PetroChina
Navig8 Prosperity 80 CR Oct4 Pyrenees-East w127.5 Mitsui
Navig8 Promise 80 FO Sep28 Thailand-Spore $650k Chevron
Tbn 80 COND Oct7 Ichthys-East rnr KLine
Kriti Journey 80 CR Sep27 Labuan, Kimanis-Spore, P Dickson $650k,rnr Shell
Pacific Topaz 60 COND Oct1 Benchamas-Thailand rnr Chevron
Sea Luck III 35 CR Sep20 Bunga Kekwa+Seria-Thailand rnr Bangchak
Grand Ace10 35 CR Sep25 Onsan-Spore rnr Shell
Baltic/UKC
No fixtures reported.
Med
Nissos IOS 135 CR Sep29 CPC-UKC, Med w85, w90 Vitol

Antarctic 135 CR Oct2 CPC-UKC, Med w85, w90 Chevron
Ithaki DF 100 CR Sep24 Sidi Kerir-Gdansk $1.45m Orlen
Olib 80 CR Oct3 CPC-Med, UKC w130 Shell
Tbn 80 FO Sep26 Skikda-Opts rnr Clearlake
WAF
Sinokor Tbn 260 CR Oct2 WAF-East w59 Total

Red Nova 260 CR dnr WAF-UKC w52.5 ST Shipping
Montesperanza 130 CR Oct2 WAF-ECCan, UKCM w77.5, w80 P66
Statia 130 CR Oct7 Forcados-UKCM w80 Eni
Americas
New Courage 270 CR Oct18 USGC-East $7.45m Occidental

Yasa Southern Cross 270 CR Oct25 USGC-UKC $3.0m Exxon
Maran Antares 270 CR Oct24 USGC-UKC $3.25m Exxon
Gustavia S 260 CR Oct23 Venezuela-East $7.9m Shandong

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

Universal Innovator 260 CR Oct20 Brazil-East w59.5 Petrobras
Seaways Red 130 CR dnr Brazil-UKC rnr Repsol
Eagle Hanover 70 CR Sep23 USGC-UKCM w102.5 Chevron
North Sea 70 CR ppt USGC-UCKM w102.5 Trafigura
Seatribute 70 CR Sep25 USGC-UKCM w105 Trafigura
Ise Princess 70 CR dnr USGC-UKCM w97.5 Trafigura
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
Captain John 90 UNL Sep22 Sikka-Jebel Ali rnr RIL

Front Capella 75 NA Oct1 STS K Al Zubair-Japan w140 VS Shipping
Aligote o/o Posillipo 60 JET Sep27 PG-UKC $3.8m ATC
Hafnia Experience 60 CL Sep25 Cross-RSea rnr ATC
Bam Bam 60 CL Sep23 Vadinar-UAE $450k Vitol
Navig8 Martinez 55 NA Sep18 PG-Japan w142.5 BP
Gulf Baynunah 35 HSD Sep20 NMangalore-Kochi+Chennai $925k IOC
Torm Discoverer 35 CL Sep20 Sikka-Fujairah $310k RIL
Grand Ace7 35 NA Sep23 Duqm-East w147.5 OQ
Zandolie 35 CL Sep25 PG-EAfrica, SAfrica w210, w200 cnr
Tbn 80 COND Oct7 Ichthys-Spore, Japan rnr,rnr KLine
Yang Lin Wan 80 COND Sep28 Dampier-Tuban w125 Chevron
Kara Sea 60 COND Oct1 Benchamas-Thailand rnr Chevron
Advantage Padova 60 JET+UNL Sep20 Zhanjiang+Quanzhou-Australia w165 Clearlake
Norden Tbn 35 GO Sep25 SKorea-Spore, Opts rnr, rnr Unipec
Unique Harmony 35 UNL Sep25 Mailiao-Spore, SKorea, USWC $410k, $1.6m, rnr P66
Hafnia Violette 35 UNL Sep27 Zhoushan-Spore $450k Rongsheng
British Cadet 35 CL Sep30 Japan-Australia rnr Ampol
Clearocean Mustang 35 JET Sep26 Nanjing-Hong Kong $365k Sinopec
Hafnia Kirsten 35 NA Sep27 Incheon-Japan, China, Spore rnr, rnr, $465k BP
Tbn 35 ULSD Sep28 Ulsan-HongKong, Philippines, Spore rnr, rnr, rnr Clearlake
Baltic/UKC
Hellas Revenger 37 UNL Sep25 Immingham-UKC, TA, USWC w145, w135, w190 P66
Tbn 37 UNL Sep23 ARA-Tema w145 ST
Chip 30 CL Sep22 Borselle-UKC w167.5 Litasco
Med
Valsesia 30 ULSD Sep18 Med-Med w137.5 Repsol

Americas
Seaways Grace 38 ULSD Sep20 USGC-TA, Brazil, Ecuador w142.5, w195, $1.6m Unipec
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 50kb FOB Straits MOPS 92 $1.50/bbl * Denotes market maker. All times GMT
Platts Mogas 92: OCT12-OCT16: **VITOLSG Withdraws offer Bids (PGA page 4009)
50kb FOB Straits $79.90/bbl
Gasoline FOB Spore Cargo Platts Mogas 92: OCT24: DARE bids 25kb $78.45/bbl
Platts Mogas 92: OCT8-OCT12: ARAMCOSG no longer offers
Platts Mogas 92: OCT24: ONYX bids 25kb $78.45/bbl
Trades (PGA page 2315) 50kb FOB Straits $79.10/bbl
Platts Mogas 92: OCT24: ONYX bids 25kb $78.45/bbl
Platts Mogas 92: OCT8-OCT12: ARAMCOSG* sold to SIETCO Platts Mogas 92: OCT14-OCT18: ARAMCOSG no longer offers
50kb FOB Straits $78.70/bbl Platts Mogas 92: OCT24: THEMEINT bids 25kb $78.41/bbl
50kb FOB Straits $79.10/bbl 8:28:39
Platts Mogas 95: OCT14-OCT18: **VITOLSG Withdraws offer Platts Mogas 92: OCT24: ARIONINV bids 25kb $78.40/bbl
Platts Mogas 92: OCT14-OCT18: ARAMCOSG* sold to
VITOLSG 50kb FOB Straits $78.70/bbl 8:28:33 50kb FOB Straits MOPS 95 $1.20/bbl Platts Mogas 92: OCT24: ARIONINV bids 25kb $78.40/bbl
* Denotes market maker. All times GMT Platts Mogas 95: OCT14-OCT18: **VITOLSG Withdraws offer Platts Mogas 92: OCT24: HOTEI bids 25kb $78.40/bbl
50kb FOB Straits MOPS 92 $5.00/bbl Platts Mogas 92: OCT24: ONYX bids 25kb $78.40/bbl
Bids (PGA page 2313)
Platts Mogas 95: OCT14-OCT18: **VITOLSG Withdraws offer Platts Mogas 92: OCT24: VITOLSG bids 25kb $78.40/bbl
Platts Mogas 92: OCT4-OCT8: SIETCO bids 50kb FOB Straits 50kb FOB Straits $83.50/bbl
$78.80/bbl Platts Mogas 92: OCT24: THEMEINT bids 25kb $78.36/bbl
** Denotes OCO order.
Platts Mogas 92: OCT14-OCT18: PETROCHINA bids 50kb FOB Platts Mogas 92: OCT24: HOTEI bids 25kb $78.35/bbl
Straits MOPS 92 $-0.2/bbl Platts Mogas 92: OCT24: HOTEI bids 25kb $78.35/bbl
Gasoline FOB Spore Paper
OCT3-OCT7: RGES bids 100kb FOB Straits $78.80/bbl Platts Mogas 92: OCT24: DARE bids 25kb $78.30/bbl
Trades (PGA page 4011)
OCT3-OCT7: EQUINOR bids 100kb FOB Straits MOPS 92 Platts Mogas 92: OCT24: GTU bids 50kb $78.25/bbl
$0.80/bbl Platts Mogas 92: OCT24: ONYX sold to DARE* 25kb $78.55/ Platts Mogas 92: OCT24: BPSG bids 25kb $78.10/bbl
OCT3-OCT7: UITSG bids 100kb FOB Straits MOPS 92 bbl 8:28:10
Platts Mogas 92: OCT24: DARE bids 25kb $78.05/bbl
$0.50/bbl Platts Mogas 92: OCT24: ONYX sold to
Platts Mogas 92: OCT24: DARE bids 25kb $78.00/bbl
OCT8-OCT12: UITSG bids 100kb FOB Straits MOPS 92 MERCURIARESOURCES* 25kb $78.55/bbl 8:29:15
$0.50/bbl Platts Mogas 92: OCT24: DARE bids 25kb $77.95/bbl
Platts Mogas 92: OCT24: HOTEI sold to
OCT11-OCT15: BPSG bids 100kb FOB Straits $79.20/bbl MERCURIARESOURCES* 25kb $78.60/bbl 8:29:20 Withdrawals
Platts Mogas 95: OCT5-OCT9: PTT bids 50kb FOB Straits Platts Mogas 92: OCT24: HOTEI* sold to Platts Mogas 92: OCT24: MERCURIARESOURCES no longer
MOPS 95 $0.90/bbl MERCURIARESOURCES 25kb $78.60/bbl 8:29:24 bids 25kb $78.60/bbl
Withdrawals Platts Mogas 92: OCT24: HOTEI* sold to Platts Mogas 92: OCT24: DARE no longer bids 25kb
MERCURIARESOURCES 25kb $78.60/bbl 8:29:39 $78.55/bbl
OCT9-OCT13: RGES Withdraws bid 100kb FOB Straits
$78.70/bbl Platts Mogas 92: OCT24: HOTEI* sold to DARE 25kb $78.55/ Platts Mogas 92: OCT24: MERCURIARESOURCES no longer
bbl 8:29:39 bids 25kb $78.55/bbl
OCT14-OCT18: RGES Withdraws bid 100kb FOB Straits
$78.40/bbl Platts Mogas 92: OCT24: HOTEI sold to DARE* 25kb $78.55/ Platts Mogas 92: OCT24: DARE no longer bids 25kb
bbl 8:29:44 $78.50/bbl
Platts Mogas 92: OCT24: HOTEI* sold to ** Denotes OCO order.
Offers (PGA page 2314)
MERCURIARESOURCES 25kb $78.55/bbl 8:29:48 Offers (PGA page 4010)
Platts Mogas 92: OCT4-OCT8: PTT offers 50kb FOB Straits
Platts Mogas 92: OCT24: HOTEI sold to DARE* 25kb $78.55/ Platts Mogas 92: OCT24: ONYX offers 25kb $78.60/bbl
$79.50/bbl
bbl 8:29:51
Platts Mogas 92: OCT8-OCT12: PTT offers 50kb FOB Straits Platts Mogas 92: OCT24: THEMEINT offers 25kb $78.60/bbl
Platts Mogas 92: OCT24: ONYX sold to DARE* 25kb $78.50/
$79.50/bbl Platts Mogas 92: OCT24: ONYX offers 25kb $78.65/bbl
bbl 8:29:55
Platts Mogas 92: OCT14-OCT18: PTT offers 50kb FOB Straits Platts Mogas 92: OCT24: ONYX offers 25kb $78.70/bbl
Platts Mogas 92: OCT24: HOTEI sold to DARE* 25kb $78.50/
$79.00/bbl Platts Mogas 92: OCT24: DARE offers 25kb $78.75/bbl
bbl 8:30:00
Withdrawals Platts Mogas 92: OCT24: THEMEINT offers 25kb $78.75/bbl
Platts Mogas 92: OCT24: HOTEI* sold to
Platts Mogas 92: OCT12-OCT16: **VITOLSG Withdraws offer MERCURIARESOURCES 25kb $78.55/bbl 8:30:00 Platts Mogas 92: OCT24: DARE offers 25kb $78.80/bbl

Platts Mogas 92: OCT24: DARE offers 25kb $78.85/bbl Platts Mogas 92 spread: OCT24/NOV24: EQUINOR* sold to $0.93/bbl
Platts Mogas 92: OCT24: BPSG offers 25kb $78.90/bbl PTT 25kb $1.35/bbl 8:29:33 Platts Mogas 92 spread: NOV24/DEC24: ONYX bids 25kb
Platts Mogas 92: OCT24: HOTEI offers 25kb $78.90/bbl Platts Mogas 92 spread: OCT24/NOV24: ARIONINV sold to $0.45/bbl
HOTEI* 25kb $1.34/bbl 8:30:12 Platts Mogas 92 spread: NOV24/DEC24: ONYX bids 25kb
Platts Mogas 92: OCT24: DARE offers 25kb $78.95/bbl
* Denotes market maker. All times GMT $0.45/bbl
Platts Mogas 92: OCT24: GTU offers 50kb $78.95/bbl
Bids (PGA page 4009) Platts Mogas 92 spread: NOV24/DEC24: DARE bids 25kb
Platts Mogas 92: OCT24: MERCURIARESOURCES offers 25kb
$0.41/bbl
$79.00/bbl Platts Mogas 92 spread: OCT24/NOV24: HOTEI bids 25kb
$1.34/bbl Platts Mogas 92 spread: NOV24/DEC24: BPSG bids 25kb
Platts Mogas 92: OCT24: VITOLSG offers 25kb $79.00/bbl
$0.40/bbl
Platts Mogas 92 spread: OCT24/NOV24: SKEISG bids 100kb
$1.34/bbl Platts Mogas 92 spread: NOV24/DEC24: HOTEI bids 25kb
Platts Mogas 92: OCT24: DARE offers 25kb $79.10/bbl $0.40/bbl
Platts Mogas 92 spread: OCT24/NOV24: ONYX bids 25kb
Platts Mogas 92: OCT24: MERCURIARESOURCES offers 25kb $1.25/bbl Platts Mogas 92 spread: NOV24/DEC24:
$79.10/bbl MERCURIARESOURCES bids 25kb $0.40/bbl
Platts Mogas 92 spread: OCT24/NOV24: DARE bids 25kb
Platts Mogas 92: OCT24: DARE offers 25kb $79.15/bbl $1.21/bbl Platts Mogas 92 spread: NOV24/DEC24: SIETCO bids 25kb
Platts Mogas 92: OCT24: THEMEINT offers 25kb $79.15/bbl $0.40/bbl
Platts Mogas 92 spread: OCT24/NOV24: ARIONINV bids 25kb
Platts Mogas 92: OCT24: DARE offers 25kb $79.20/bbl $1.20/bbl Platts Mogas 92 spread: NOV24/DEC24: VITOLSG bids 25kb
$0.40/bbl
Platts Mogas 92: OCT24: DARE offers 25kb $79.25/bbl Platts Mogas 92 spread: OCT24/NOV24: DARE bids 25kb
$1.20/bbl Platts Mogas 92 spread: NOV24/DEC24: DARE bids 25kb
$0.39/bbl
Platts Mogas 92: OCT24: DARE offers 25kb $79.50/bbl Platts Mogas 92 spread: OCT24/NOV24: HOTEI bids 25kb
$1.20/bbl Platts Mogas 92 spread: NOV24/DEC24: DARE bids 25kb
Platts Mogas 92: OCT24: DARE offers 25kb $79.55/bbl $0.35/bbl
Platts Mogas 92 spread: OCT24/NOV24:
Platts Mogas 92: OCT24: DARE offers 25kb $79.60/bbl Platts Mogas 92 spread: NOV24/DEC24: VITOLSG bids 25kb
MERCURIARESOURCES bids 25kb $1.20/bbl
Withdrawals $0.35/bbl
Platts Mogas 92 spread: OCT24/NOV24: ONYX bids 25kb
Platts Mogas 92: OCT24: HOTEI no longer offers 25kb $1.20/bbl Platts Mogas 92 spread: NOV24/DEC24: EQUINOR bids 25kb
$78.55/bbl $0.32/bbl
Platts Mogas 92 spread: OCT24/NOV24: SIETCO bids 25kb
Platts Mogas 92: OCT24: HOTEI no longer offers 25kb $1.20/bbl Platts Mogas 92 spread: NOV24/DEC24: P66SG bids 25kb
$78.55/bbl $0.20/bbl
Platts Mogas 92 spread: OCT24/NOV24: VITOLSG bids 25kb
** Denotes OCO order. $1.20/bbl Withdrawals
Platts Mogas 92 spread: OCT24/NOV24: DARE bids 25kb Platts Mogas 92 spread: OCT24/NOV24: SIETCO Withdraws
Gasoline FOB Spore Paper Spreads $1.19/bbl bid 25kb $0.75/bbl
Platts Mogas 92 spread: OCT24/NOV24: DARE bids 25kb ** Denotes OCO order.
Trades (PGA page 4011)
$1.16/bbl Offers (PGA page 4010)
Platts Mogas 92 spread: OCT24/NOV24: BPSG* sold to
Platts Mogas 92 spread: OCT24/NOV24: BPSG bids 25kb Platts Mogas 92 spread: OCT24/NOV24: BPSG offers 25kb
GUNVORSG 25kb $1.35/bbl 8:29:07
$1.15/bbl $1.40/bbl
Platts Mogas 92 spread: OCT24/NOV24: EQUINOR* sold to
Platts Mogas 92 spread: OCT24/NOV24: ONYX bids 25kb Platts Mogas 92 spread: OCT24/NOV24: DARE offers 25kb
PTT 25kb $1.35/bbl 8:29:16
$1.15/bbl $1.40/bbl
Platts Mogas 92 spread: OCT24/NOV24: EQUINOR* sold to
Platts Mogas 92 spread: OCT24/NOV24: VITOLSG bids 25kb Platts Mogas 92 spread: OCT24/NOV24: HOTEI offers 25kb
GUNVORSG 25kb $1.35/bbl 8:29:17
$1.15/bbl $1.40/bbl
Platts Mogas 92 spread: OCT24/NOV24: P66SG* sold to PTT
Platts Mogas 92 spread: OCT24/NOV24: P66SG bids 25kb Platts Mogas 92 spread: OCT24/NOV24:
25kb $1.35/bbl 8:29:21
$1.10/bbl MERCURIARESOURCES offers 25kb $1.40/bbl
Platts Mogas 92 spread: OCT24/NOV24: DARE* sold to PTT
Platts Mogas 92 spread: OCT24/NOV24: EQUINOR bids 25kb Platts Mogas 92 spread: OCT24/NOV24: ONYX offers 25kb
25kb $1.36/bbl 8:29:28

$1.40/bbl offers 25kb $1.35/bbl ** Denotes OCO order.
Platts Mogas 92 spread: OCT24/NOV24: ONYX offers 25kb Platts Mogas 92 spread: OCT24/NOV24: DARE no longer
$1.40/bbl offers 25kb $1.36/bbl Naphtha C+F Japan Cargo Spreads
Platts Mogas 92 spread: OCT24/NOV24: VITOLSG offers 25kb Platts Mogas 92 spread: OCT24/NOV24: PTT Withdraws offer Trades (PGA page 2325)
$1.40/bbl 200kb $1.40/bbl
No trades reported
Platts Mogas 92 spread: OCT24/NOV24: DARE offers 25kb Platts Mogas 92 spread: NOV24/DEC24: PTT Withdraws offer
$1.41/bbl 25kb $0.55/bbl * Denotes market maker. All times GMT
Platts Mogas 92 spread: OCT24/NOV24: EQUINOR offers Platts Mogas 92 spread: NOV24/DEC24: PTT Withdraws offer Bids (PGA page 2323)
25kb $1.45/bbl 200kb $0.60/bbl No bids reported
Platts Mogas 92 spread: OCT24/NOV24: HOTEI offers 25kb ** Denotes OCO order.
Withdrawals
$1.45/bbl
No bids reported
Platts Mogas 92 spread: NOV24/DEC24: EQUINOR offers Naphtha C+F Cargo ** Denotes OCO order.
25kb $0.50/bbl
Trades (PGA page 2325) Offers (PGA page 2324)
Platts Mogas 92 spread: NOV24/DEC24: HOTEI offers 25kb
$0.50/bbl No trades reported No offers reported
Platts Mogas 92 spread: NOV24/DEC24: * Denotes market maker. All times GMT Withdrawals
MERCURIARESOURCES offers 25kb $0.50/bbl Bids (PGA page 2323) No offers reported
Platts Mogas 92 spread: NOV24/DEC24: P66SG offers 25kb H2NOV24: BBEN bids 25kt $650.00/mt ** Denotes OCO order.
$0.50/bbl
H1DEC24: BBEN bids 25kt $649.00/mt
Platts Mogas 92 spread: NOV24/DEC24: DARE offers 25kb Jet Kero FOB Spore Paper
Withdrawals
$0.51/bbl
No bids reported Trades (PGA page 4023)
Platts Mogas 92 spread: NOV24/DEC24: BPSG offers 25kb
$0.52/bbl BAL MONTH: DARE sold to UITSG* 50kb $83.80/bbl 8:29:57
Platts Mogas 92 spread: NOV24/DEC24: ONYX offers 25kb Offers (PGA page 2324)
BAL MONTH: DARE* sold to HOTEI 50kb $83.85/bbl 8:30:06
$0.55/bbl H1NOV24: **GUNVORSG offers 25kt $664.00/mt OCT24: DARE sold to HOTEI* 50kb $84.05/bbl 8:29:28
Platts Mogas 92 spread: NOV24/DEC24: ONYX offers 25kb H1NOV24: TRAFI offers 25kt $668.00/mt OCT24: DARE sold to HOTEI* 50kb $84.00/bbl 8:29:38
$0.55/bbl
H2NOV24: **VITOLSG offers 25kt $658.00/mt OCT24: DARE sold to UITSG* 50kb $84.00/bbl 8:29:41
Platts Mogas 92 spread: NOV24/DEC24: DARE offers 25kb
H2NOV24: **TOTALSG offers 25kt $659.00/mt OCT24: DARE* sold to HOTEI 50kb $84.05/bbl 8:29:48
$0.56/bbl
H2NOV24: **BPSG offers 25kt $660.00/mt * Denotes market maker. All times GMT
Platts Mogas 92 spread: NOV24/DEC24: SIETCO offers 25kb
$0.60/bbl H2NOV24: **GUNVORSG offers 25kt $660.00/mt Bids (PGA page 4021)
Platts Mogas 92 spread: NOV24/DEC24: VITOLSG offers H1DEC24: **BPSG offers 25kt $653.00/mt OCT24: UITSG bids 50kb $84.00/bbl
25kb $0.60/bbl H1DEC24: **VITOLSG offers 25kt $656.00/mt OCT24: CMTENERGY bids 50kb $83.90/bbl
Platts Mogas 92 spread: NOV24/DEC24: DARE offers 25kb H1DEC24: **GUNVORSG offers 25kt $657.00/mt OCT24: DARE bids 50kb $83.90/bbl
$0.61/bbl H1DEC24: **TOTALSG offers 25kt $657.00/mt OCT24: DARE bids 50kb $83.85/bbl
Withdrawals
Withdrawals OCT24: DVTRADING bids 50kb $83.85/bbl
Platts Mogas 92 spread: OCT24/NOV24: EQUINOR no longer H1NOV24: **GUNVORSG Withdraws offer 25kb $0.25/mt
offers 25kb $1.35/bbl NOV24: DARE bids 50kb $83.70/bbl
H2NOV24: **GUNVORSG Withdraws offer 25kt $665.00/mt NOV24: DVTRADING bids 50kb $83.55/bbl
Platts Mogas 92 spread: OCT24/NOV24: EQUINOR no longer
offers 25kb $1.35/bbl H1DEC24: **GUNVORSG Withdraws offer 25kt $662.00/mt BAL MONTH: DARE bids 50kb $83.70/bbl
Platts Mogas 92 spread: OCT24/NOV24: P66SG no longer BAL MONTH: CMTENERGY bids 50kb $83.60/bbl

BAL MONTH: DVTRADING bids 50kb $83.35/bbl OCT24/NOV24: ENEOSSG bids 50kb $-0.15/bbl OCT24/NOV24: DARE offers 50kb $0.10/bbl
Withdrawals OCT24/NOV24: UITSG bids 50kb $-0.15/bbl OCT24/NOV24: ERACOMM offers 50kb $0.10/bbl
OCT24: HOTEI no longer bids 50kb $84.00/bbl OCT24/NOV24: UITSG bids 50kb $-0.2/bbl OCT24/NOV24: CMTENERGY offers 50kb $0.15/bbl
OCT24: DVTRADING Withdraws bid 50kb $83.45/bbl OCT24/NOV24: DVTRADING bids 50kb $-0.25/bbl OCT24/NOV24: CONDACAP offers 50kb $0.20/bbl
BAL MONTH: UITSG no longer bids 50kb $83.80/bbl OCT24/NOV24: CONDACAP bids 50kb $-0.5/bbl OCT24/NOV24: DVTRADING offers 50kb $0.20/bbl
** Denotes OCO order. FEB25/MAR25: ENEOSSG bids 50kb $-0.15/bbl OCT24: DARE offers 50kb $0.10/bbl
Offers (PGA page 4022) FEB25/MAR25: ERACOMM bids 50kb $-0.15/bbl OCT24: GUNVORSG offers 50kb $0.10/bbl
OCT24: DVTRADING offers 50kb $84.20/bbl MAR25/APR25: ENEOSSG bids 50kb $-0.24/bbl OCT24: ERACOMM offers 50kb $0.14/bbl
OCT24: CMTENERGY offers 50kb $84.40/bbl MAR25/APR25: ERACOMM bids 50kb $-0.24/bbl OCT24: CORNERCAP offers 50kb $0.15/bbl
NOV24: DARE offers 50kb $84.85/bbl OCT24: HOTEI bids 50kb $0.05/bbl OCT24: DVTRADING offers 50kb $0.15/bbl
NOV24: DVTRADING offers 50kb $84.95/bbl OCT24: HOTEI bids 50kb $0.05/bbl OCT24: MERCURIARESOURCES offers 50kb $0.15/bbl
BAL MONTH: DARE offers 50kb $83.85/bbl OCT24: DARE bids 50kb $0.00/bbl OCT24: ARAMCOSG offers 50kb $0.20/bbl
BAL MONTH: CMTENERGY offers 50kb $84.90/bbl OCT24: ERACOMM bids 50kb $0.00/bbl OCT24: CMTENERGY offers 50kb $0.20/bbl
BAL MONTH: DVTRADING offers 50kb $84.90/bbl OCT24: VITOLSG bids 50kb $0.00/bbl OCT24: CONDACAP offers 50kb $0.20/bbl
Withdrawals OCT24: CORNERCAP bids 50kb $-0.05/bbl OCT24: BPSG offers 50kb $0.25/bbl
OCT24: DARE no longer offers 50kb $84.05/bbl OCT24: UITSG bids 50kb $-0.05/bbl OCT24: VITOLSG offers 50kb $0.25/bbl
OCT24: DARE Withdraws offer 50kb $85.05/bbl OCT24: CMTENERGY bids 50kb $-0.1/bbl BAL MONTH: DARE offers 50kb $0.25/bbl
OCT24: DARE Withdraws offer 50kb $85.10/bbl OCT24: DVTRADING bids 50kb $-0.15/bbl Withdrawals
OCT24: DVTRADING Withdraws offer 50kb $85.10/bbl OCT24: CONDACAP bids 50kb $-0.2/bbl No offers reported
OCT24: DARE no longer offers :LOWERED OFFER OCT24: AGT bids 50kb $-0.3/bbl ** Denotes OCO order.
AND TRADED OCT24: ARAMCOSG bids 50kb $-0.3/bbl
BAL MONTH: DARE Withdraws offer 50kb $85.10/bbl BAL MONTH: DARE bids 50kb $-0.4/bbl Gasoil FOB Spore Paper
** Denotes OCO order. Withdrawals Trades (PGA page 4019)
OCT24/NOV24: CMTENERGY Withdraws bid 50kb $-0.3/bbl OCT24: DARE* sold to HOTEI 50kb $84.00/bbl 8:29:38
Jet Kero FOB Spore Paper Spreads OCT24/NOV24: DARE Withdraws bid 50kb $-0.4/bbl OCT24: HOTEI sold to CMTENERGY* 50kb $83.95/
Trades (PGA page 4023) OCT24/NOV24: CMTENERGY Withdraws bid 50kb $-0.45/bbl bbl 8:29:38
OCT24: MARKET sold to HOTEI* 50kb $0.05/bbl 8:29:38 OCT24: DARE Withdraws bid 50kb $-0.3/bbl OCT24: AGT sold to CMTENERGY* 50kb $83.95/bbl 8:29:44
* Denotes market maker. All times GMT OCT24: DVTRADING Withdraws bid 50kb $-0.3/bbl OCT24: AGT sold to DVTRADING* 50kb $83.94/bbl 8:29:50
Bids (PGA page 4021) ** Denotes OCO order. OCT24: DARE* sold to HOTEI 50kb $84.00/bbl 8:29:54
Offers (PGA page 4022) OCT24: AGT sold to DVTRADING* 50kb $83.94/bbl 8:29:55
BAL MONTH/OCT24: UITSG bids 50kb $-0.2/bbl
BAL MONTH/OCT24: UITSG bids 50kb $-0.3/bbl BAL MONTH/OCT24: DARE offers 50kb $-0.11/bbl BAL MONTH: DARE* sold to AGT 50kb $83.60/bbl 8:29:44
BAL MONTH/OCT24: CMTENERGY bids 50kb $-0.5/bbl BAL MONTH/OCT24: GUNVORSG offers 50kb $-0.05/bbl BAL MONTH: DARE* sold to AGT 50kb $83.65/bbl 8:29:50
BAL MONTH/OCT24: DARE bids 50kb $-0.65/bbl BAL MONTH/OCT24: MERCURIARESOURCES offers 50kb BAL MONTH: DARE sold to CMTENERGY* 50kb $83.58/
$-0.05/bbl bbl 8:29:50
OCT24/NOV24: ERACOMM bids 50kb $-0.1/bbl
BAL MONTH/OCT24: BPSG offers 50kb $0.05/bbl BAL MONTH: DARE* sold to AGT 50kb $83.65/bbl 8:29:55
OCT24/NOV24: UITSG bids 50kb $-0.1/bbl
BAL MONTH/OCT24: CMTENERGY offers 50kb $0.10/bbl BAL MONTH: DVTRADING* sold to HOTEI 50kb $83.90/
OCT24/NOV24: CMTENERGY bids 50kb $-0.14/bbl
bbl 8:29:57
OCT24/NOV24: BPSG offers 50kb $0.05/bbl
OCT24/NOV24: DARE bids 50kb $-0.15/bbl

* Denotes market maker. All times GMT OCT24: HOTEI offers 50kb $84.60/bbl OCT24/NOV24: AGT bids 50kb $-0.15/bbl
Bids (PGA page 4017) BAL MONTH: CMTENERGY offers 50kb $84.00/bbl OCT24/NOV24: CONDACAP bids 50kb $-0.15/bbl
OCT24: HOTEI bids 50kb $84.00/bbl BAL MONTH: DVTRADING offers 50kb $84.00/bbl OCT24/NOV24: DVTRADING bids 50kb $-0.15/bbl
OCT24: T3GT bids 50kb $83.93/bbl BAL MONTH: DVTRADING offers 50kb $84.20/bbl OCT24/NOV24: ENEOSSG bids 50kb $-0.15/bbl
OCT24: DVTRADING bids 50kb $83.90/bbl Withdrawals OCT24/NOV24: MERCURIARESOURCES bids 50kb $-0.18/bbl
OCT24: ERACOMM bids 50kb $83.90/bbl OCT24: DARE no longer offers 50kb $84.00/bbl NOV24/DEC24: ENEOSSG bids 50kb $-0.14/bbl
OCT24: T3GT bids 50kb $83.90/bbl OCT24: CMTENERGY Withdraws offer 50kb $84.90/bbl NOV24/DEC24: ERACOMM bids 50kb $-0.14/bbl
OCT24: ANVIK bids 50kb $83.85/bbl OCT24: DARE Withdraws offer 50kb $84.90/bbl NOV24/DEC24: CMTENERGY bids 50kb $-0.19/bbl
OCT24: DVTRADING bids 50kb $83.80/bbl OCT24: DVTRADING Withdraws offer 50kb $84.90/bbl NOV24/DEC24: DARE bids 50kb $-0.2/bbl
OCT24: MBCL bids 50kb $83.75/bbl OCT24: DVTRADING Withdraws offer 50kb $84.90/bbl NOV24/DEC24: AGT bids 50kb $-0.25/bbl
OCT24: DARE bids 50kb $83.70/bbl OCT24: DARE Withdraws offer 50kb $84.95/bbl Withdrawals
OCT24: DARE bids 50kb $83.65/bbl BAL MONTH: DARE Withdraws offer 50kb $83.65/bbl BAL MONTH/OCT24: CMTENERGY Withdraws bid 50kb
BAL MONTH: DARE no longer offers 50kb $83.60/bbl $-0.6/bbl
BAL MONTH: DVTRADING bids 50kb $83.53/bbl
BAL MONTH: DVTRADING no longer offers 50kb $83.90/bbl BAL MONTH/OCT24: SINOHKPET Withdraws bid 50kb
BAL MONTH: DVTRADING bids 50kb $83.50/bbl
$-0.6/bbl
BAL MONTH: DVTRADING bids 50kb $83.40/bbl ** Denotes OCO order.
OCT24/NOV24: CMTENERGY Withdraws bid 50kb $-0.2/bbl
BAL MONTH: DARE bids 50kb $83.25/bbl
Gasoil FOB Spore Paper Spreads OCT24/NOV24: CMTENERGY Withdraws bid 50kb $-0.25/bbl
BAL MONTH: DARE bids 50kb $83.20/bbl
NOV24/DEC24: ENEOSSG Withdraws bid 50kb $-0.2/bbl
Withdrawals Trades (PGA page 4019)
OCT24: CMTENERGY no longer bids 50kb $83.95/bbl BAL MONTH/OCT24: MARKET sold to AGT 50kb $-0.29/ Offers (PGA page 4018)
OCT24: DVTRADING no longer bids 50kb $83.94/bbl bbl 8:29:50
BAL MONTH/OCT24: CMTENERGY offers 50kb $-0.19/bbl
OCT24: DARE Withdraws bid 50kb $83.50/bbl BAL MONTH/OCT24: VITOLSG* sold to AGT 50kb $-0.28/
bbl 8:29:51 BAL MONTH/OCT24: CORNERCAP offers 50kb $-0.15/bbl
OCT24: CMTENERGY Withdraws bid 50kb $83.45/bbl
BAL MONTH/OCT24: MARKET sold to AGT 50kb $-0.29/ BAL MONTH/OCT24: DARE offers 50kb $-0.15/bbl
OCT24: DARE Withdraws bid 50kb $83.45/bbl
bbl 8:29:55 BAL MONTH/OCT24: GUNVORSG offers 50kb $-0.15/bbl
BAL MONTH: DVTRADING Withdraws bid 50kb $83.30/bbl
* Denotes market maker. All times GMT BAL MONTH/OCT24: DVTRADING offers 50kb $-0.1/bbl
BAL MONTH: CMTENERGY no longer bids 50kb $83.58/bbl
Bids (PGA page 4017) BAL MONTH/OCT24: CONDACAP offers 50kb $0.00/bbl
BAL MONTH/OCT24: SINOHKPET bids 50kb $-0.37/bbl OCT24/NOV24: GUNVORSG offers 50kb $0.00/bbl
BAL MONTH/OCT24: CMTENERGY bids 50kb $-0.39/bbl OCT24/NOV24: ERACOMM offers 50kb $0.02/bbl
OCT24: DVTRADING offers 50kb $84.10/bbl
BAL MONTH/OCT24: AGT bids 50kb $-0.4/bbl OCT24/NOV24: CORNERCAP offers 50kb $0.03/bbl
OCT24: T3GT offers 50kb $84.10/bbl
BAL MONTH/OCT24: DVTRADING bids 50kb $-0.45/bbl OCT24/NOV24: AGT offers 50kb $0.04/bbl
OCT24: DARE offers 50kb $84.15/bbl
BAL MONTH/OCT24: CONDACAP bids 50kb $-0.5/bbl OCT24/NOV24: CMTENERGY offers 50kb $0.04/bbl
OCT24: T3GT offers 50kb $84.15/bbl
BAL MONTH/OCT24: DARE bids 50kb $-0.5/bbl OCT24/NOV24: DARE offers 50kb $0.05/bbl
OCT24: AGT offers 50kb $84.18/bbl
OCT24/NOV24: CMTENERGY bids 50kb $-0.07/bbl OCT24/NOV24: DVTRADING offers 50kb $0.05/bbl
OCT24: DVTRADING offers 50kb $84.20/bbl
OCT24/NOV24: DARE bids 50kb $-0.08/bbl OCT24/NOV24: MERCURIARESOURCES offers 50kb
OCT24: ERACOMM offers 50kb $84.20/bbl $0.05/bbl
OCT24/NOV24: ERACOMM bids 50kb $-0.09/bbl
OCT24: MBCL offers 50kb $84.25/bbl OCT24/NOV24: CONDACAP offers 50kb $0.10/bbl
OCT24/NOV24: CORNERCAP bids 50kb $-0.1/bbl
OCT24: CMTENERGY offers 50kb $84.30/bbl NOV24/DEC24: AGT offers 50kb $0.00/bbl
OCT24/NOV24: DVTRADING bids 50kb $-0.12/bbl
OCT24: DVTRADING offers 50kb $84.40/bbl NOV24/DEC24: ERACOMM offers 50kb $0.00/bbl

NOV24/DEC24: CMTENERGY offers 50kb $0.05/bbl BAL MONTH/OCT24: NESTWISE bids 5kt $13.25/mt OCT24: ONYX* sold to HOTEI 5kt $403.50/mt 8:29:11
NOV24/DEC24: DARE offers 50kb $0.10/bbl BAL MONTH/OCT24: ONYX bids 5kt $12.75/mt OCT24: DARE sold to HOTEI* 5kt $403.75/mt 8:29:24
Withdrawals BAL MONTH/OCT24: TRAFI bids 5kt $12.75/mt OCT24: GOODECAPLTD sold to HOTEI* 5kt $403.50/
BAL MONTH/OCT24: ICE no longer offers 50kb $-0.29/bbl BAL MONTH/OCT24: ONYX bids 5kt $12.50/mt mt 8:29:26
BAL MONTH/OCT24: ICE no longer offers 50kb $-0.29/bbl BAL MONTH/OCT24: P66SG bids 5kt $12.50/mt OCT24: DARE* sold to HOTEI 5kt $403.75/mt 8:29:28
BAL MONTH/OCT24: VITOLSG no longer offers 50kb BAL MONTH/OCT24: GOODECAPLTD bids 5kt $11.50/mt OCT24: DARE* sold to HOTEI 5kt $403.75/mt 8:29:30
$-0.28/bbl BAL MONTH/OCT24: DARE bids 5kt $11.00/mt OCT24: ONYX sold to HOTEI* 5kt $403.75/mt 8:29:31
OCT24/NOV24: CMTENERGY Withdraws offer 50kb OCT24/NOV24: P66SG bids 5kt $11.25/mt OCT24: DARE* sold to HOTEI 5kt $403.75/mt 8:29:32
$0.20/bbl OCT24: DARE* sold to ANVIK 5kt $403.75/mt 8:29:45
OCT24/NOV24: DARE bids 5kt $10.00/mt
OCT24/NOV24: DARE Withdraws offer 50kb $0.20/bbl OCT24: ONYX sold to HOTEI* 5kt $403.70/mt 8:29:47
Withdrawals
OCT24: GOODECAPLTD no longer bids 5kt $415.25/mt OCT24: ONYX sold to HOTEI* 5kt $403.50/mt 8:29:50
OCT24/NOV24: ONYX no longer bids 5kt $11.25/mt OCT24: ONYX sold to ANVIK* 5kt $403.50/mt 8:29:50
FO 180 CST 3.5% FOB Spore Paper
** Denotes OCO order. OCT24: ONYX* sold to HOTEI 5kt $403.50/mt 8:29:55
Trades (PGA page 4027) OCT24: ONYX* sold to HOTEI 5kt $403.50/mt 8:29:56
OCT24: MERCURIARESOURCES* sold to ONYX 5kt $415.25/ OCT24: ONYX* sold to HOTEI 5kt $403.50/mt 8:29:59
BAL MONTH/OCT24: GOODECAPLTD offers 5kt $14.00/mt
mt 8:29:11 OCT24: DARE* sold to HOTEI 5kt $404.00/mt 8:30:01
BAL MONTH/OCT24: DARE offers 5kt $14.15/mt
OCT24: MERCURIARESOURCES sold to GOODECAPLTD* 5kt OCT24/NOV24: MERCURIASA sold to GUNVORSG* 5kt
$415.25/mt 8:29:26 BAL MONTH/OCT24: VITOLSG offers 5kt $14.50/mt
$10.50/mt 8:21:38
BAL MONTH/OCT24: DARE sold to NESTWISE* 5kt $13.00/ BAL MONTH/OCT24: DARE offers 5kt $15.75/mt
OCT24/NOV24: GOODECAPLTD sold to TRAFI* 5kt $10.50/
mt 8:25:55 BAL MONTH/OCT24: P66SG offers 5kt $15.75/mt mt 8:21:46
BAL MONTH/OCT24: DARE sold to NESTWISE* 5kt $13.00/ BAL MONTH/OCT24: ONYX offers 5kt $16.75/mt OCT24/NOV24: GOODECAPLTD sold to HOTEI* 5kt $10.50/
mt 8:26:24 BAL MONTH/OCT24: DARE offers 5kt $17.00/mt mt 8:21:46
BAL MONTH/OCT24: DARE* sold to NESTWISE 5kt $13.25/ OCT24/NOV24: VITOLSG offers 5kt $11.50/mt OCT24/NOV24: P66SG sold to HOTEI* 5kt $10.50/mt 8:21:48
mt 8:26:53
OCT24/NOV24: DARE offers 5kt $12.25/mt OCT24/NOV24: ANVIK sold to VITOLSG* 5kt $10.25/
BAL MONTH/OCT24: MERCURIASA sold to NESTWISE* 5kt mt 8:23:23
OCT24/NOV24: P66SG offers 5kt $12.50/mt
$13.00/mt 8:27:06
Withdrawals OCT24/NOV24: HENGLIPET* sold to SERENITY 5kt $10.50/
BAL MONTH/OCT24: DARE* sold to NESTWISE 5kt $13.00/ mt 8:29:54
mt 8:27:54 OCT24: MERCURIARESOURCES no longer offers 5kt
$415.25/mt OCT24/NOV24: VITOLSG* sold to SERENITY 5kt $10.50/
BAL MONTH/OCT24: DARE* sold to NESTWISE 5kt $13.00/ mt 8:29:59
mt 8:28:00 BAL MONTH/OCT24: MERCURIARESOURCES Withdraws
offer 5kt $14.50/mt OCT24: MARKET sold to ONYX* 5kt $11.75/mt 8:29:11
BAL MONTH/OCT24: DARE* sold to NESTWISE 5kt $13.00/
BAL MONTH/OCT24: GOODECAPLTD Withdraws offer 5kt OCT24: MARKET sold to GOODECAPLTD* 5kt $11.75/
mt 8:28:14
$16.00/mt mt 8:29:26
* Denotes market maker. All times GMT
mt 8:29:46 BAL MONTH/OCT24: MERCURIARESOURCES Withdraws
offer 5kt $16.00/mt Bids (PGA page 4025)
mt 8:29:53 OCT24/NOV24: ONYX Withdraws offer 5kt $12.00/mt OCT24: GOODECAPLTD bids 5kt $11.75/mt
OCT24/NOV24: VITOLSG sold to ONYX* 5kt $11.25/ ** Denotes OCO order. OCT24: ONYX bids 5kt $11.75/mt
mt 8:29:56 OCT24: P66SG bids 5kt $11.75/mt
* Denotes market maker. All times GMT FO 380 CST 3.5% FOB Spore Paper OCT24: TRAFI bids 5kt $11.75/mt
Bids (PGA page 4025) Trades (PGA page 4027) OCT24: GOODECAPLTD bids 5kt $11.50/mt

OCT24: NESTWISE bids 5kt $11.00/mt OCT24: ONYX Withdraws bid 5kt $403.50/mt BAL MONTH/OCT24: DARE offers 5kt $16.75/mt
OCT24: VITOLSG bids 5kt $11.00/mt OCT24: ONYX Withdraws bid 5kt $403.00/mt BAL MONTH/OCT24: THEMEINT offers 5kt $16.75/mt
OCT24: DARE bids 5kt $10.75/mt BAL MONTH/OCT24: ONYX Withdraws bid 5kt $15.00/mt OCT24/NOV24: FREEPTASIA offers 5kt $10.50/mt
OCT24: DARE bids 5kt $402.75/mt OCT24/NOV24: GUNVORSG no longer bids 5kt $10.50/mt OCT24/NOV24: THEMEINT offers 5kt $10.70/mt
OCT24: DARE bids 5kt $402.50/mt OCT24/NOV24: HENGLIPET Withdraws bid 5kt $10.50/mt OCT24/NOV24: GOODECAPLTD offers 5kt $10.75/mt
OCT24: GUNVORSG bids 5kt $402.50/mt OCT24/NOV24: HOTEI no longer bids 5kt $10.50/mt OCT24/NOV24: NESTWISE offers 5kt $10.75/mt
OCT24: DARE bids 5kt $402.00/mt OCT24/NOV24: SERENITY Withdraws bid 5kt $10.50/mt OCT24/NOV24: PTT offers 5kt $10.75/mt
OCT24: DARE bids 5kt $401.25/mt OCT24/NOV24: TRAFI no longer bids 5kt $10.50/mt OCT24/NOV24: DARE offers 5kt $11.25/mt
BAL MONTH/OCT24: HENGLIPET bids 5kt $15.25/mt OCT24/NOV24: ONYX Withdraws bid 5kt $10.25/mt OCT24/NOV24: FREEPTASIA offers 5kt $11.25/mt
BAL MONTH/OCT24: P66SG bids 5kt $15.25/mt OCT24/NOV24: T3GT Withdraws bid 5kt $10.25/mt OCT24/NOV24: GOODECAPLTD offers 5kt $11.25/mt
BAL MONTH/OCT24: MAERSK bids 5kt $15.00/mt OCT24/NOV24: HOTEI Withdraws bid 5kt $10.00/mt OCT24/NOV24: ONYX offers 5kt $11.25/mt
BAL MONTH/OCT24: NESTWISE bids 5kt $15.00/mt OCT24/NOV24: SERENITY Withdraws bid 5kt $10.25/mt OCT24/NOV24: P66SG offers 5kt $11.25/mt
BAL MONTH/OCT24: ONYX bids 5kt $15.00/mt OCT24/NOV24: HOTEI Withdraws bid 5kt $-10/mt OCT24/NOV24: HOTEI offers 5kt $11.50/mt
BAL MONTH/OCT24: TRAFI bids 5kt $15.00/mt ** Denotes OCO order. Withdrawals
BAL MONTH/OCT24: THEMEINT bids 5kt $14.75/mt Offers (PGA page 4026) OCT24: MERCURIARESOURCES Withdraws offer 5kt
BAL MONTH/OCT24: GOODECAPLTD bids 5kt $14.25/mt $12.25/mt
OCT24: NESTWISE offers 5kt $12.25/mt
BAL MONTH/OCT24: DARE bids 5kt $14.00/mt OCT24: GOODECAPLTD Withdraws offer 5kt $13.00/mt
OCT24: ONYX offers 5kt $12.25/mt
OCT24/NOV24: SERENITY bids 5kt $10.45/mt OCT24: ONYX no longer offers 5kt $403.50/mt
OCT24: P66SG offers 5kt $12.25/mt
OCT24/NOV24: DARE bids 5kt $10.00/mt OCT24: ONYX no longer offers 5kt $403.50/mt
OCT24: VITOLSG offers 5kt $12.25/mt
OCT24/NOV24: ONYX bids 5kt $10.00/mt OCT24: ONYX no longer offers :LOWERED OFFER
OCT24: DARE offers 5kt $12.50/mt
AND TRADED
OCT24/NOV24: P66SG bids 5kt $10.00/mt OCT24: ONYX offers 5kt $12.75/mt
BAL MONTH/OCT24: ONYX Withdraws offer 5kt $15.75/mt
OCT24/NOV24: SERENITY bids 5kt $10.00/mt OCT24: DARE offers 5kt $404.00/mt
BAL MONTH/OCT24: GOODECAPLTD Withdraws offer 5kt
OCT24/NOV24: NESTWISE bids 5kt $9.75/mt OCT24: DARE offers 5kt $405.00/mt $17.00/mt
OCT24/NOV24: VITOLSG bids 5kt $9.75/mt OCT24: DARE offers 5kt $406.50/mt OCT24/NOV24: ANVIK Withdraws offer 5kt $10.50/mt
OCT24/NOV24: THEMEINT bids 5kt $9.50/mt OCT24: DARE offers 5kt $407.50/mt OCT24/NOV24: HENGLIPET no longer offers 5kt $10.50/mt
OCT24/NOV24: SERENITY bids 5kt $-9/mt OCT24: GOODECAPLTD offers 5kt $407.75/mt OCT24/NOV24: VITOLSG no longer offers 5kt $10.50/mt
OCT24/NOV24: SERENITY bids 5kt $-11/mt OCT24: HOTEI offers 5kt $408.50/mt OCT24/NOV24: FREEPTASIA Withdraws offer 10kt $10.75/mt
Withdrawals OCT24: HOTEI offers 5kt $408.50/mt OCT24/NOV24: ANVIK Withdraws offer 5kt $10.90/mt
OCT24: HOTEI no longer bids 5kt $403.75/mt OCT24: HOTEI offers 5kt $408.50/mt OCT24/NOV24: MERCURIARESOURCES Withdraws offer 5kt
OCT24: HOTEI no longer bids 5kt $403.70/mt NOV24: MERCURIARESOURCES offers 5kt $393.00/mt $11.00/mt
OCT24: ANVIK no longer bids 5kt $403.50/mt BAL MONTH/OCT24: P66SG offers 5kt $16.00/mt OCT24/NOV24: ONYX Withdraws offer 5kt $11.00/mt
OCT24: HOTEI no longer bids 5kt $403.50/mt BAL MONTH/OCT24: GOODECAPLTD offers 5kt $16.50/mt OCT24/NOV24: GOODECAPLTD Withdraws offer 5kt
OCT24: HOTEI no longer bids 5kt $403.50/mt BAL MONTH/OCT24: MAERSK offers 5kt $16.50/mt $11.25/mt

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Asia-Pacific/Arab Gulf Marketscan

Singapore paper (PGA page 2655)

Balance September ($/barrel) October ($/barrel) November ($/barrel)

Arab Gulf Front Month Swaps (PGA page 2638)

Balance September* ($/barrel) October ($/barrel) November ($/barrel)

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

Asia products Malaysia’s expected removal of RON 95 petrol

© 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

© 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

© 2024 by S&P Global Inc. All rights reserved. 11

© 2024 by S&P Global Inc. All rights reserved. 12

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

© 2024 by S&P Global Inc. All rights reserved. 14

© 2024 by S&P Global Inc. All rights reserved. 15

© 2024 by S&P Global Inc. All rights reserved. 16

© 2024 by S&P Global Inc. All rights reserved. 17

© 2024 by S&P Global Inc. All rights reserved. 18

© 2024 by S&P Global Inc. All rights reserved. 19

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

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

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

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

China tanker fixtures

© 2024 by S&P Global Inc. All rights reserved. 24

China tanker fixtures (continued)

PAGOS 100 Fuel Oil Russia Yantai 9/13/2024 Xintai

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

International Dirty Tanker Fixtures (PGT page 2950)

Princess Alexia 270 CR Oct1 PG-Thailand w50 PTT

Nissos IOS 135 CR Sep29 CPC-UKC, Med w85, w90 Vitol

Sinokor Tbn 260 CR Oct2 WAF-East w59 Total

New Courage 270 CR Oct18 USGC-East $7.45m Occidental

© 2024 by S&P Global Inc. All rights reserved. 26

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

© 2024 by S&P Global Inc. All rights reserved. 27

International clean tanker fixtures (PGT page 2904)

Captain John 90 UNL Sep22 Sikka-Jebel Ali rnr RIL

Valsesia 30 ULSD Sep18 Med-Med w137.5 Repsol

© 2024 by S&P Global Inc. All rights reserved. 28

© 2024 by S&P Global Inc. All rights reserved. 29

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

$1.40/bbl offers 25kb $1.35/bbl ** Denotes OCO order.

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

© 2024 by S&P Global Inc. All rights reserved. 32

© 2024 by S&P Global Inc. All rights reserved. 33

© 2024 by S&P Global Inc. All rights reserved. 34

© 2024 by S&P Global Inc. All rights reserved. 35

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