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Asia-Pacific/Arab Gulf Marketscan

Volume 43 / Issue 133 / July 12, 2024
Asia products
Code Mid Change Code Mid Change Code Mid Change
Singapore (PGA page 2002)
FOB Singapore ($/barrel) MOPS strip Premium/Discount
Naphtha PAAAP00 74.76–74.80 74.780 +0.360 AAPKA00 73.99–74.03 74.010 +0.410
Gasoline 97 unleaded PGAMS00 99.13–99.17 99.150 +2.020 AAPKE00* 25.12/25.16 25.140 +1.610
Gasoline 95 unleaded PGAEZ00 98.48–98.52 98.500 +2.020 AAPKF00* 24.47/24.51 24.490 +1.610
Gasoline 95 unleaded AGUMS00 97.060 +1.280 AGUMA00**** 1.440 +0.740
Gasoline 92 unleaded PGAEY00 94.06–94.10 94.080 +2.020 AAPKG00* 20.05/20.09 20.070 +1.610
Gasoline 92 unleaded AAXEQ00 92.62–92.66 92.640 +1.290 AAXER00 1.42/1.46 1.440 +0.730
Gasoline 91 unleaded AAYNA00 96.320 +2.220 AAYNB00 3.680 +0.930
Gasoline 92 unleaded 500 ppm PGAFY00*** 1.641 +0.731
CFR Naphtha AAOVF00 75.360 +0.460 AAOVG00 1.350 +0.050
Kerosene PJABF00 99.72–99.76 99.740 +0.170 AAPJZ00 99.89–99.93 99.910 +0.250 PJACU00 -0.19/-0.15 -0.170 -0.080
Gasoil 10 ppm AAOVC00 100.70–100.74 100.720 +0.310 AAOVD00** -0.23/-0.19 -0.210 +0.060
Gasoil 50 ppm AAPPF00 100.57–100.61 100.590 +0.310 AAPPH00** -0.36/-0.32 -0.340 +0.060
Gasoil 0.05% sulfur AAFEX00 100.43–100.47 100.450 +0.350 AAFFB00** -0.50/-0.46 -0.480 +0.100
Gasoil 0.25% sulfur AACUE00 99.94–99.98 99.960 +0.360 AACQI00** -0.99/-0.95 -0.970 +0.110
Gasoil POABC00 100.70–100.74 100.720 +0.310 AAPJY00 100.91–100.95 100.930 +0.250 POAIC00** -0.23/-0.19 -0.210 +0.060
FO 180 CST 2% ($/mt) PUAXS00 532.08–532.12 532.100 +1.200
HSFO 180 CST ($/mt) PUADV00 520.37–520.41 520.390 +1.170 AAPJX00 515.46–515.50 515.480 +1.330 AAGZF00 4.89/4.93 4.910 -0.160
HSFO 380 CST ($/mt) PPXDK00 513.88–513.92 513.900 +0.700 AAPJW00 508.81–508.85 508.830 +0.700 PPXDL00 5.05/5.09 5.070 0.000
Marine Fuel 0.5% ($/mt) AMFSA00 613.190 +3.180 FOFSA00 606.960 +3.180 FOFSB00 6.230 0.000
Ex-Wharf 380 CST ($/mt) AAFER00 519.50–520.50 520.000 0.000
Ex-Wharf 500 CST ($/mt) AAVUP00 514.50–515.50 515.000 0.000
Bitumen Pen 60-70 ($/mt) BTSGA00 470.250 +4.250 BTSGB00***** -38.580 +3.550
*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 644.24–647.74 645.990 +4.560 AAPKH00 28.00/28.50 28.250 -1.000
Naphtha LR2 ($/mt) 657.61–661.11 659.360 +4.530
Platts Asia and Middle Eastern Gasoline
AAIDA00
Gasoline 95 unleaded AAICY00 94.57–94.61 94.590 +2.020 AAWUJ00 5.53/5.57 5.550 +0.200
Gasoline 95 unleaded CFR AAWUK00 7.08/7.12 7.100 Daily Market Analysis
Gasoline 92 unleaded AAGJA00 90.170 +2.020 AAGZA00 5.200 +0.200
Kerosene PJAAA00 95.54–95.58 95.560 +0.200 PJACV00 2.43/2.47 2.450 -0.110
Gasoil 10 ppm AAIDT00 96.27–96.31 96.290 +0.350 AAIDU00* 2.18/2.22 2.200 -0.050
„ Singapore’s light distillates inventory at five-month low
Gasoil 0.005% sulfur 96.07–96.11 96.090 +0.350 1.98/2.02 2.000 -0.050
AASGJ00 AASGK00*
„ India’s Nayara Energy sells 60,000 mt of non-oxy 92
Gasoil 0.05% sulfur AAFEZ00 93.87–93.91 93.890 +0.350 AAFFD00* -0.22/-0.18 -0.200 -0.050
Gasoil 0.25% sulfur AACUA00 92.97–93.01 92.990 +0.400 AACUC00* -1.12/-1.08 -1.100 0.000 RON gasoline at higher premiums
Gasoil POAAT00 96.27–96.31 96.290 +0.350 POAID00* 2.18/2.22 2.200 -0.050
HSFO 180 CST ($/mt) PUABE00 494.89–494.93 494.910 +1.550 AAXJA00 32.98/33.02 33.000 0.000
HSFO 380 CST ($/mt) AAIDC00 488.40–488.44 488.420 +1.080 AAXJB00 39.98/40.02 40.000 0.000 The Asian gasoline market looks set to close the
HSFO 380/180 spread ($/mt) PPXDM00 -6.51/-6.47 -6.490 -0.470
Marine Fuel 0.5% Fujairah ($/mt) FOFFB00*** 6.000 0.000 week unchanged on July 12, with market sentiment still
Ex-Wharf Fujairah 380 CST** ($/mt) AAYBG00 10.950 -4.300 being defined as balanced, traders said.
*Premium to MOPAG gasoil during loading. **Ex-Wharf differential represents premium/discount to the MOPAG 180 CST strip. ***MF 0.5% differential Lower gasoline export flows from the refining
represents premium/discount to the MOPFUJ MF 0.5% strip.
heavyweights such as China and South Korea, and

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Asia-Pacific/Arab Gulf Marketscan July 12, 2024

Asia products have kept gasoline sentiment in Asia afloat, but

Code Mid Change Code Mid Change
demand in the East was still largely muted.
Middle East physical oil assessments (PGA pages 2004 and 2018) However, brokers pegged the front-month FOB
FOB Fujairah ($/barrel) MOPAG Strip Singapore 92 RON gasoline swap crack spread against
Naphtha ($/mt) NFJSA00 674.960 +4.560 NFJTA00 646.710 +5.560 Brent swaps in the $7.05-$7.25/b range at 0300 GMT
Gasoline 95 unleaded AFUJA00 98.550 +1.510 AFUJB00 93.000 +1.310
Gasoline 92 unleaded RFJFS00 93.840 +1.510 RAGTA00 88.640 +1.310 July 12, compared with the Platts assessment of
Kerosene AFUJF00 98.600 +0.250 AFUJG00 96.150 +0.360 $6.43/b at the Asian close of July 11. This spread was
Gasoil 10 ppm AFUJP00 99.080 +0.270
Gasoil 500 ppm AFUJN00 96.680 +0.270 assessed at $7.28/b at the start of the week, July 8.
Gasoil AFUJK00 99.080 +0.270 AFUJL00 96.880 +0.320 Helping to boost market sentiment further,
HSFO 380 CST ($/mt) AFUJQ00 507.400 -2.670 AFUJR00 467.400 -2.670
Ex-Wharf 380 CST ($/mt) AAYBF00 508.000 -3.000 AAYBD00 497.050 +1.300 Singapore’s commercial stockpiles of light distillates
MOPFUJ Strip fell by around 14.2% on the week ended July 10 to
Marine Fuel 0.5% ($/mt)** AMFFA00 620.570 +0.010 FOFFA00 614.570 +0.010 the lowest level in nearly five months, amid a rise in
*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 850.00–852.00 851.000 +19.000
Jul 08 (PGA page 2022)
Singapore demurrage (PGT pages 2910 and 2960) Light distillates FUJLD04 5741 +601
$/day Middle distillates FUJMD04 3156 +497
Demurrage Clean AALPY00 35500.000 -1000.000 Heavy distillates and residues FUJHD04 9421 +680
Demurrage Dirty AALQA00 44000.000 0.000 Source: FEDCom, S&P Global Commodity Insights

Singapore paper (PGA page 2655)

Balance July ($/barrel) August ($/barrel) September ($/barrel)

Naphtha Japan ($/mt) RAXFM00 703.500 +5.250 AAXFE00 697.50–698.00 697.750 +4.750 AAXFF00 690.50–691.00 690.750 +3.750
Naphtha AAPLD00 74.33–74.37 74.350 +0.450 PAAAQ00 73.68–73.72 73.700 +0.400 PAAAR00 72.88–72.92 72.900 +0.250
Gasoline 95 unleaded AGUMB00 97.470 +1.370 AGUMM01 96.700 +1.250 AGUMM02 95.310 +0.670
Gasoline 92 unleaded AAXEK00 92.95–92.99 92.970 +1.370 AAXEL00 92.33–92.37 92.350 +1.250 AAXEM00 90.99–91.03 91.010 +0.670
Reforming Spread AAXEN00 18.60/18.64 18.620 +0.920 AAXEO00 18.63/18.67 18.650 +0.850 AAXEP00 18.09/18.13 18.110 +0.420
Kerosene AAPLE00 99.72–99.76 99.740 +0.200 PJABS00 100.04–100.08 100.060 +0.290 PJABT00 100.28–100.32 100.300 +0.310
Gasoil AAPLF00 100.84–100.88 100.860 +0.260 POAFC00 100.98–101.02 101.000 +0.250 POAFG00 101.07–101.11 101.090 +0.220
HSFO 180 CST ($/mt) AAPML00 519.43–519.47 519.450 +1.100 PUAXZ00 511.93–511.97 511.950 +2.000 PUAYF00 497.73–497.77 497.750 +2.300
HSFO 380 CST ($/mt) AAPKB00 513.18–513.22 513.200 +0.900 AAPKC00 504.93–504.97 504.950 +1.000 AAPKD00 489.48–489.52 489.500 +1.800
Gasoil EFS ($/mt) AAQTX00 NA NANA AAQTY00 -28.800 -1.890 AAQTZ00 -27.880 -1.110

Arab Gulf Front Month Swaps (PGA page 2638)

Balance July* ($/barrel) August ($/barrel) September ($/barrel)

Naphtha ($/mt) NAGFM00 650.290 +8.190 NAGFM01 645.740 +5.420 NAGFM02 639.140 +3.410
Gasoline 95 unleaded AFUIM00 93.560 +1.370 AFUIM01 92.790 +1.250 AFUIM02 91.400 +0.670
Gasoline 92 unleaded RAGFM00 89.060 +1.370 RAGFM01 88.440 +1.250 RAGFM02 87.100 +0.670
Kerosene AFUAM00 95.790 +0.410 AFUAM01 96.190 +0.340 AFUAM02 96.460 +0.290
Gasoil AFUJM00 96.670 +0.480 AFUJM01 96.890 +0.290 AFUJM02 97.010 +0.190
HSFO 180 CST** AADZB00 493.750 +1.250 AADZM01 485.000 +2.000 AADZM02 470.000 +2.250
HSFO 380 CST AFURM00 474.500 -2.000 AFURM01 465.000 -2.000 AFURM02 448.750 -1.250
*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-Pacific/Arab Gulf Marketscan July 12, 2024

Asia products net gasoline exports and falling naphtha imports,

Code Mid Change Code Mid Change
Enterprise Singapore data showed July 11.
Japan physical oil assessments (PGA page 2006) Total stocks of light distillates — which include
C+F Japan ($/mt) Premium/Discount gasoline, reformates and naphtha but exclude gases
Naphtha (min 70%) NCJCA00 705.000 +4.000 NCJCB00 6.750 -2.000
like LPG — dropped to 13.30 million barrels in the week
Naphtha PAAAD00 703.25–706.75 705.000 +4.000 PAADI00 6.50/7.00 6.750 -2.000
Nph 2nd 1/2 Aug PAAAE00 708.25–708.75 708.500 +3.000 ended July 10 and were the lowest since Feb. 14, when
Nph 1st 1/2 Sep PAAAF00 706.25–706.75 706.500 +4.000 it stood at 12.90 million barrels.
Nph 2nd 1/2 Sep PAAAG00 703.25–703.75 703.500 +4.000
Naphtha MOPJ Strip AAXFH00 690.50–691.00 690.750 +3.750 AAXFI00 14.00/14.50 14.250 +0.250 Singapore’s total gasoline exports jumped 73% on
C+F Japan ($/barrel) Premium/Discount the week to 781,371 mt (91,926 barrels) on July 10, while
Gasoline 91-92 unleaded PGACW00 98.18–98.22 98.200 +1.990 imports rose by around 84% to around 286,278 mt.
Gasoline 95 unleaded PGAQQ00 102.60–102.64 102.620 +1.990
Kerosene PJAAN00 100.80–100.84 100.820 -0.050 PAADK00 0.89/0.93 0.910 -0.300 Net gasoline exports from Singapore jumped 67.4% on
FOB Japan ($/barrel) Premium/Discount the week to around 495,094 mt, Enterprise Singapore
Gasoil POJAP00 99.130 +0.250 POJBP00 -1.800 0.000 data showed.
South Korea physical oil assessments (PGA page 2008) The largest gasoline flow from Singapore was
C+F Korea ($/mt) Premium/Discount Indonesia, with exports rising from 120,747 mt to 361,337
Naphtha PAADE00 709.50–710.00 709.750 +2.000 PAADG00 4.50/5.00 4.750 -2.000 mt for the week ended July 10. Meanwhile, gasoline
C+F East Asia ($/mt) Premium/Discount volumes from China into Singapore rebounded on the
Naphtha** CFRCT00 703.000 -0.250 CFRCD00 -2.000 -4.250
week to 158,372 mt for the week ended July 10, the data
FOB Korea ($/barrel) Premium/Discount
Gasoline 95 unleaded PGAQO00 97.71–97.75 97.730 +2.070
showed, up 74% from the previous accounting week.
Jet PJADG00 98.44–98.48 98.460 +0.100 PJADI00 -1.47/-1.43 -1.450 -0.150 In spot market news, India’s Nayara Energy sold
Gasoil POAIE00 99.21–99.25 99.230 +0.250 POAIG00 -1.72/-1.68 -1.700 0.000
Bitumen Pen 60-80 ($/mt) BTKRA00 405.000 0.000 BTKRB00* -103.830 -0.700
up to 60,000 mt of non-oxygenated 92 RON gasoline
*Indicates relationship between premium/discount and HSFO 380 CST MOPS Strip. **All-origin naphtha from commercial tanks.
loading between Aug. 4 and Aug. 8 from Vadinar. The
sell tender was awarded to a Middle East trading
Mean of Platts West India netbacks (PGA page 2012)
house and at a premium in the low-$2 range to the
FOB India ($/mt) FOB India ($/barrel)
Naphtha AAQWK00 664.520 +4.000 AAQWJ00 73.840 +0.450
August average of Mean of Platts Singapore 92
Gasoline (92 RON) AARBQ00 773.570 +17.170 AARBP00 91.010 +2.020 RON gasoline assessments, FOB, according to trade
Gasoline (95 RON) AAQWI00 811.140 +17.170 AAQWH00 95.430 +2.020
sources. Nayara previously sold up to 60,000 mt of
Jet kero AAQWM00 761.840 +1.350 AAQWL00 96.430 +0.170
Gasoil 10 ppm AAQWO00 724.250 +2.310 AAQWN00 97.220 +0.310 non-oxygenated 92 RON gasoline for loading over July
Gasoil 500 ppm AAQWQ00 722.240 +2.600 AAQWP00 96.950 +0.350 19-23 from Vadinar via a spot tender, which concluded
Gasoil 2500 ppm AAQWS00 718.590 +2.680 AAQWR00 96.460 +0.360
at a premium of around $1.50/b to the July average of
Australia (PGA page 2014)
MOPS 92 RON gasoline assessments, FOB basis.
C+F Australia ($/barrel) Platts is part of S&P Global Commodity Insights.
Gasoline 92 AACZF00 100.26–100.30 100.280 +1.960
Gasoline 95 AACZH00 104.68–104.72 104.700 +1.960
Jet AAFIY00 106.40–106.44 106.420 +0.110 Platts Singapore Gasoline Rationales &
Gasoil 10 ppm AAQUD00 107.78–107.82 107.800 +0.240
Exclusions
South Africa (PGA pages 2342 and 2412) Gasoline Unl 92 FOB Spore Cargo <PGAEY00>
CFR South Africa ($/barrel) assessment rationale: The FOB Singapore 92 RON
Gasoline 95 unleaded AAQWW00 103.571 +1.510
Jet kero AAQWT00 104.003 +0.250
gasoline assessment July 12 took into consideration a
Gasoil 10 ppm AAQWU00 104.809 +0.270 bid for a cargo loading over July 28-Aug. 1 at MOPS plus
Gasoil 500 ppm AAQWV00 102.409 +0.270

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

Asia-Pacific/Arab Gulf Marketscan July 12, 2024

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 ($/mt)
SAF Cost of Production BJNWA00 2078.394 +16.283
AG-Spore Spore-Japan AG-Japan Spore-Australia SAF CIF ARA MIRWD00 2042.500 +0.250
Naphtha AAPOF00 35.00* AAPOG00 59.01* SAF CIF ARA Premium MIRWF00 1210.000 0.000
Naphtha-LR2 AAPOH00 45.64* HVO HVNWA00 1909.359 +14.889
Gasoline AAPOC00 3.91 AAPOD00 4.12 AAPOE00 6.20
USWC ($/mt)
Kerosene AAPOI00 4.18 AAPOJ00 6.68
SAF Cost of Production w/ credits ASAFA00 1931.435 -0.054
Gasoil AAPOL00 4.43 AAPOM00 7.08
SAF Cost of Production w/o credits ASAFB00 992.865 -1.839
HSFO 180 CST AAPOO00 25.48* AAPOP00 20.41*
RD w/ credits ARDFA00 1821.572 -0.295
HSFO 380 CST AAPOQ00 25.48*
RD w/o credits ARDFB00 1006.555 -2.584
All values in $/barrel, except * values in $/mt.
USWC ($/b)
South China/Hong Kong physical oil assessments (PGA page 2010) SAF Cost of Production w/ credits ASAFE00 238.589 -0.007

South China ($/mt)
Premium/Discount to MOPS ($/barrel) SAF Cost of Production w/o credits ASAFF00 122.648 -0.227
RD w/ credits ARDFE00 225.682 -0.036
Gasoline 92 unleaded AAICW00 795.50–799.50 797.500 +17.000
RD w/o credits ARDFF00 124.706 -0.320
Jet/kero PJABQ00 797.75–801.75 799.750 -0.500 AAWTW00 1.31/1.35 1.330 -0.300
USWC (¢/gal)
Gasoil POAFA00 753.75–757.75 755.750 +1.000 AABJZ00 0.49/0.53 0.510 -0.120
SAF Cost of Production w/ credits ASAFI00 568.069 -0.016

Hong Kong bunker grades ($/mt) SAF Cost of Production w/o credits ASAFJ00 292.019 -0.541
HSFO 380 CST PUAER00 533.25–534.25 533.750 -8.250 RD w/ credits ARDFI00 537.337 -0.087
RD w/o credits ARDFJ00 296.919 -0.762
*C+F Hong Kong, $/barrel premium/discount to Mean of Platts Singapore.
Southeast Asia ($/mt)
SAF Cost of Production (PFAD) ASFAA00 1587.530 +7.300
HVO (PFAD) HVSAB00 1468.110 +6.810
Marine Fuel (PGA page 30) North Asia ($/mt)
$/mt Change vs FO 380 MOPS strip Change SAF Cost of Production (UCO) ASFAC00 1650.510 -0.400
0.5% FOB Singapore cargo AMFSA00 613.190 +3.180 AMOPA00 104.360 +2.480 HVO (UCO) HVNAA00 1527.520 -0.220
0.5% FOB Fujairah cargo AMFFA00 620.570 +0.010
0.5% FOB Rotterdam barge PUMFD00 567.500 +6.250
0.5% FOB US Gulf Coast barge AUGMB00 582.000 -0.500 Jet Index (PGA page 115)
0.5% Dlvd US Atlantic Coast barge AUAMB00 610.000 -0.500
Index $/barrel
0.5% FOB Mediterranean cargo MFFMM00 568.500 +5.500
Asia & Oceania PJASO00 286.27 PJASO08 100.19
0.5% CIF Mediterranean cargo MFCMM00 583.500 +5.500
Mid East & Africa PJMEA00 297.05 PJMEA08 99.47
$/barrel Change
Global PJGLO00 281.58 PJGLO08 103.00
0.5% FOB US Gulf Coast barge AUGMA00 91.650 -0.080
0.5% Dlvd US Atlantic Coast barge AUAMA00 96.060 -0.080

Marine Fuel 0.5% Derivatives, Jul 12 Foreign exchange rates (PGA page 2160)
Balance* Change Month 1 Change Month 2 Change USD/JPY AAWFX00 159.180 -2.420
Eur/USD AAWFU00 1.0883 +0.0042
Jul Aug Sep
USD/SGD AAWFZ00 1.3433 -0.0050
$/mt $/mt $/mt USD/MYR AAWGA00 4.6676 -0.0222
0.5% FOB Singapore cargo FOFS000 610.000 +3.450 FOFS001 604.250 +3.250 FOFS002 597.950 +3.200 USD/HKD AAWFY00 7.8065 -0.0032
0.5% FOB Fujairah cargo FOFF000 620.250 +0.500 FOFF001 613.500 +0.250 FOFF002 606.250 +0.250 AUD/USD AAWFT00 0.6774 +0.0018
0.5% FOB Rotterdam barge AMRAB00 566.500 +5.750 AMRAM01 563.500 +5.500 AMRAM02 558.000 +5.000 USD/INR AAFGW00 83.5307 -0.0481
0.5% vs. 3.5% FOB Rotterdam barge AMRBB00 75.500 +2.500 AMRBM01 79.500 +2.250 AMRBM02 83.000 +2.500 USD/CNY* AAWFW00 7.1315 -0.0024
$/barrel $/barrel $/barrel *Source: Bank of China
0.5% FOB US Gulf Coast barge AMARB00 91.600 -0.050 AMARM01 90.550 -0.050 AMARM02 89.650 -0.050
0.5% vs US Gulf Coast HSFO barge AUSBB00 17.600 +0.150 AUSBM01 17.750 0.000 AUSBM02 18.150 +0.050
*Balance month swaps are assessed from the 1st through the 20th of the month; Asia swaps are assessed through the 14th of February.

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

Asia-Pacific/Arab Gulf Marketscan July 12, 2024

$1.20/b which was equivalent to $93.95/b, and a bid for Carbon Intensity (PGA page 4207)
Daily Carbon Intensity Premium Monthly Carbon Intensity
cargo loading over Aug. 4-8 at $94.10/b.
Asia $/bbl Date kgCO2e/bbl
Gasoline Unl 95 FOB Spore Cargo <PGAEZ00>
Gasoline Unl 92 FOB Singapore Cargo ALCEJ00 0.597 ALCEI00 May-24 48.16
assessment rationale: The FOB Singapore 95 RON Jet Kero FOB Singapore Cargo ALCEL00 0.235 ALCEK00 May-24 18.93
gasoline assessment July 12 took into consideration Gasoil 10ppm FOB Singapore Cargo ALCEH00 0.354 ALCEG00 May-24 28.54
the previous day’s 95-92 inter-RON spread in the United States Gulf Coast ¢/gal Date kgCO2e/gal
absence of bids, offers and trades. Gasoline CBOB USGC Prompt Pipeline ALCEN00 1.265 ALCEM00 May-24 1.02
Jet Kero 54 USGC Prompt Pipeline ALCEP00 0.595 ALCEO00 May-24 0.48
Gasoline Unl 97 FOB Spore Cargo <PGAMS00> ULSD USGC Prompt Pipeline ALCER00 0.769 ALCEQ00 May-24 0.62
assessment rationale: The FOB Singapore 97 RON Northwest Europe $/mt Date kgCO2e/mt
gasoline assessment July 12 took into consideration Gasoline Eurobob (E5) FOB NWE Barge ALCEB00 4.666 ALCEA00 May-24 376.28
the previous day’s 97-95 inter-RON spread in the Jet FOB NWE Barge ALCED00 2.125 ALCEC00 May-24 171.36
ULSD 10ppm FOB NWE Barge ALCEF00 2.395 ALCEE00 May-24 193.12
absence of bids, offers and trades.
Gasoline Unl 92 FOB Arab Gulf Cargo <AAGJA00>
assessment rationale: The FOB Arab Gulf 92 RON $88.44/b and September MOPAG 92 RON gasoline Carbon credits (PGA page 496)
Change
gasoline cargo assessment was derived as a freight swap at $87.10/b. The cash differential took into
Platts CEC
netback from the FOB Singapore 92 RON marker consideration values in the FOB Fujairah 92 RON $/mtCO2e PCECA00 17.250 0.000
using the following calculation: FOB Singapore 92 RON gasoline market heard in the Middle East. Jet Fuel Carbon Offset Premiums
assessment minus the cost of transporting a 35,000- Gasoline 95 RON FOB Fujairah cargo <AFUJA00> $/b AJFCA00 82.986 0.000
mt clean cargo from a basket of ports in the Persian assessment rationale: The assessment of FOB Fujairah
Gulf to Singapore. 95 RON gasoline July 12 took into consideration the 95
Exclusions: No data was excluded from the Asian RON gasoline MOPAG strip value of $93.00/b, as well Trades: No trades
gasoline Platts Market on Close assessment process as the cash differential for Fujairah 95 RON gasoline at This assessment commentary applies to the
July 12. $5.55/b in the absence of bids, offers and trades in the following market data codes: Gasoline 92 RON FOB
No data was excluded from the Asian gasoline FOB Fujairah 95 RON gasoline MOC process. Fujairah Cargo <RFJFS00> and Gasoline 95 RON FOB
derivative MOC process July 12. The MOPAG 95 RON gasoline strip is calculated Fujairah Cargo <AFUJA00>
Platts is part of S&P Global Commodity Insights. from August MOPAG 95 RON gasoline swap at $92.79/b
and the September MOPAG 95 RON gasoline swap at Platts Asia and Middle Eastern Naphtha
Platts FOB Fujairah Gasoline Daily Rationale & $91.40/b. The cash differential took into consideration Daily Market Analysis
Exclusions values in the FOB Fujairah 95 RON gasoline market
„ Spot demand slowing
Gasoline 92 RON FOB Fujairah cargo <RFJFS00> heard in the Middle East.
assessment rationale: The assessment of FOB Fujairah Exclusions: No data was excluded from the Asian „ Singapore’s light distillates stocks hit five-
92 RON gasoline July 12 took into consideration the 92 gasoline MOC July 12. month low
RON gasoline Mean of Platts Arab Gulf strip value of Platts is part of S&P Global Commodity Insights.
$88.64/b, as well as the cash differential for Fujairah The Asian naphtha market weakened July 12 as
92 RON gasoline at $5.20/b in the absence of bids, Platts FOB Fujairah Gasoline Bids, Offers, sluggish demand weighed the complex.
offers and trades in the FOB Fujairah 92 RON gasoline Trades A market source said that end-users are using
Market on Close assessment process. 45-60-day pricing for naphtha, compared with the
The MOPAG 92 RON gasoline strip is calculated Bids: No bids usual 30-day pricing, suggesting that spot buying may
from August MOPAG 92 RON gasoline swap at Offers: No offers have slowed.

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

Asia-Pacific/Arab Gulf Marketscan July 12, 2024

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 842.75–843.25 843.000 +2.000 AAWZB00 861.00–861.50 861.250 +2.750
Naphtha PAAAI00 658.00–658.50 658.250 +3.750 PAAAH00 682.25–682.75 682.500 +4.750
Jet aviation fuel AAIDL00 798.50–799.00 798.750 -1.000
Gasoil 0.1% AAVJI00 743.50–744.00 743.750 +3.000 AAVJJ00 760.50–761.00 760.750 +3.750 AMOPI00 -5.39 +1.920
10ppm ULSD AAWYY00 777.75–778.25 778.000 +0.750 AAWYZ00 796.00–796.50 796.250 +1.500 AMOPN00 4.34 -0.090
1% PUAAK00 521.75–522.25 522.000 +4.750 PUAAJ00 538.75–539.25 539.000 +4.750
3.5% PUAAZ00 505.00–505.50 505.250 +2.500 PUAAY00 521.75–522.25 522.000 +2.500
Northwest Europe cargoes (PGA page 1110)
CIF (Basis ARA) FOB NWE MOPL Diff
Gasoline 10ppm AAXFQ00 894.25–894.75 894.500 +13.000
Naphtha Swap PAAAJ00 680.25–680.75 680.500 +3.750
Naphtha Phy PAAAL00 698.75–699.25 699.000 +5.500
Jet PJAAU00 832.25–832.75 832.500 +0.250 PJAAV00 818.00–818.50 818.250 0.000 AMOPJ00 0.24 -0.630
Ultra low sulfur diesel 10ppm AAVBG00 790.00–790.50 790.250 +1.750 AAVBF00 780.50–781.00 780.750 +1.500 AMOPL00 -1.27 -0.070
Gasoil 0.1% AAYWS00 777.50–778.00 777.750 +1.750 AAYWR00 759.50–760.00 759.750 +1.500 AMOPH00 0.03 -0.070
Diesel 10ppm NWE AAWZC00 792.00–792.50 792.250 +1.750 AAWZD00 780.50–781.00 780.750 +1.500
Diesel 10 PPM UK AAVBH00 793.50–794.00 793.750 +2.000 AUKMA00 2.229 +0.176
1% PUAAL00 516.75–517.25 517.000 +5.750 PUAAM00 499.75–500.25 500.000 +5.750
3.5% PUABA00 491.50–492.00 491.750 +3.000 PUABB00 475.75–476.25 476.000 +3.000
0.5-0.7% straight run PKABA00 568.75–569.75 569.250 +2.750
Low sulfur VGO AAHMZ00 651.50–652.50 652.000 +2.750 AAHMX00 628.00–629.00 628.500 +3.000
High sulfur VGO AAHND00 638.75–639.75 639.250 +2.750 AAHNB00 615.25–616.25 615.750 +3.000
Northwest Europe barges (PGA pages 1112 & 1380)
FOB Rotterdam MOPL Diff
Eurobob AAQZV00 840.25–840.75 840.500 +5.250
E10 Eurobob AGEFA00 843.250 +3.000
Unleaded 98 AAKOD00 920.25–920.75 920.500 +5.250
Premium Unleaded PGABM00 840.75–841.25 841.000 +2.750
Reformate AAXPM00 885.500 +1.250
MTBE* PHALA00 1015.00–1015.50 1015.250 +8.250
Naphtha Phy PAAAM00 694.75–695.25 695.000 +5.500
Jet PJABA00 828.75–829.25 829.000 +1.000 AMOPK00 1.00 +0.010
Gasoil 50 ppm AAUQC00 774.75–775.25 775.000 +1.750
Gasoil 0.1%* AAYWT00 762.00–762.50 762.250 +5.500 AMOPG00 1.34 +3.690
10 ppm* AAJUS00 782.50–783.00 782.750 +1.750 AMOPM00 1.32 -0.710
1% PUAAP00 503.75–504.25 504.000 +4.750
3.5% PUABC00 492.50–493.00 492.750 +3.000
Fuel Oil 3.5% 500 CST PUAGN00 488.50–489.00 488.750 +3.000
Low sulfur VGO AAHNF00 634.75–635.75 635.250 +2.750
High sulfur VGO AAHNI00 622.00–623.00 622.500 +2.750
*FOB Amsterdam-Rotterdam-Antwerp
Rotterdam bunker (PGA page 1112)
380 CST PUAFN00 512.50–513.50 513.000 +13.000

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

Asia-Pacific/Arab Gulf Marketscan July 12, 2024

Platts assessed the key CFR Northeast Asia US products (¢/gal) (PGA page 158)
Code Mid Change Code Mid Change
ethylene-CFR Japan naphtha physical spread — closely US West Coast pipeline
watched by petrochemical producers — narrowing Los Angeles San Francisco
$8.50/mt on the day to $156/mt at the July 11 Asian Unleaded 84 AAUHA00 223.48–223.58 223.530 -1.250 PGADG00 237.48–237.58 237.530 -2.250
close. The spread remained below both the typical Premium 90 PGABG00 233.98–234.08 234.030 -1.250 PGABO00 242.48–242.58 242.530 -2.250
breakeven level of $250/mt for integrated producers CARBOB AAKYJ00 238.48–238.58 238.530 -1.250 AAKYN00 240.48–240.58 240.530 -2.250
CARBOB PREM AAKYL00 250.48–250.58 250.530 -1.250 AAKYP00 252.48–252.58 252.530 -2.250
and $300-$350/mt for non-integrated producers.
Jet PJAAP00 240.91–241.01 240.960 +2.140 PJABC00 240.91–241.01 240.960 +2.140
The H2 August-H2 September time spread ULS (EPA) Diesel POAET00 240.66–240.76 240.710 -0.860 POAEY00 232.66–232.76 232.710 -0.860
narrowed $1/mt on the day to $6/mt at the Asian close CARB diesel POAAK00 240.66–240.76 240.710 -0.860 POAAL00 232.66–232.76 232.710 -0.860
July 11, driving cash differentials lower. Seattle Portland
Meanwhile, the derivatives market strengthened Unleaded 84 AAXJE00 237.23–237.33 237.280 -0.250 AAXJC00 239.23–239.33 239.280 -0.250
Premium 90 AAXJF00 261.23–261.33 261.280 -0.250 AAXJD00 263.23–263.33 263.280 -0.250
as brokers pegged the August-September Mean of Jet PJABB00 240.91–241.01 240.960 +2.140
Platts Japan naphtha swap time spread at $6.75/mt in ULS (EPA) Diesel AAUEX00 258.26–258.36 258.310 -0.860 AAUEY00 259.41–259.51 259.460 -0.860
midmorning Asian trading July 12, widening 75 cents/mt Phoenix
from the previous close. RBOB unleaded 84 AADDP00 248.48–248.58 248.530 -0.250
RBOB premium 89.5 PPXDJ00 260.48–260.58 260.530 +4.750
South Korea’s Lotte Chemical bought via a tender
Differential to NYMEX
a total of two open specification naphtha cargoes for
CARBOB AANVX00 -13.05/-12.95 -13.000 -1.000
delivery in the second half of August and first half of Jet Fuel AANVY00 -10.05/-9.95 -10.000 +3.000
September to Daesan at a premium of around $8/ ULS (EPA) Diesel AANVZ00 -10.30/-10.20 -10.250 0.000
mt to Mean of Platts Japan naphtha assessments, CARB Diesel AANWA00 -10.30/-10.20 -10.250 0.000
CFR, pricing over 30 days before H2 August delivery, US West Coast waterborne
Los Angeles
and a premium of around $4/mt to MOPJ naphtha
Unleaded 87 PGADI00 223.48–223.58 223.530 -1.250
assessments, CFR, pricing over 45 days before H1 Jet PJABI00 239.91–240.01 239.960 +2.140
September delivery.
Singapore’s commercial stockpiles of light distillates
fell about 14.2% on the week to the lowest level in
nearly five months on July 10, as net gasoline exports Platts assessment of futures markets at MOC close (PGA page 703)
rose, while naphtha imports fell, Enterprise Singapore Singapore 16:30
data showed July 11. ICE gasoil futures ($/mt) NYMEX RBOB (¢/gal) NYMEX NY ULSD (¢/gal)
Aug 24* AAQYM01 781.25 Aug XNRBA01 253.02 Aug XNHOA01 254.02
Total stocks of light distillates, which include Sep 24 AAQYM02 781.00 Sep XNRBA02 249.92 Sep XNHOA02 255.66
gasoline, reformates and naphtha but exclude gases Oct 24 AAQYM03 781.50 Oct XNRBA03 230.71 Oct XNHOA03 256.71
like LPG, dropped to 13.307 million barrels in the week New York 14:30
ended July 10. The stocks were last lower at 12.908 NYMEX light sweet crude ($/barrel) NYMEX RBOB (¢/gal) NYMEX NY ULSD (¢/gal)
Aug NYCRM01 82.20 Aug NYRBM01 251.24 Aug NYHOM01 250.91
million barrels in the week ended Feb. 14.
Sep NYCRM02 80.99 Sep NYRBM02 248.20 Sep NYHOM02 252.62
Singapore’s imports of naphtha, reformates and Oct NYCRM03 79.93 Oct NYRBM03 229.24 Oct NYHOM03 253.87
other blendstocks declined 16.8% on the week to *Balance month swaps are assessed from the 1st to the 15th of the month, and to the 14th of February.
174,524 mt as of July 10, as imports from Malaysia,
Qatar, Russia and China rose, while inflows from South
Korea, India and Thailand fell.

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

Asia-Pacific/Arab Gulf Marketscan July 12, 2024

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 76.70–76.74 76.720 +0.480 AAPAI00 -8.10 +0.200 AAPAH00 76.610 +0.550
Ichthys FC 48.9 ICFCA00 82.570 +0.380 ICFCB00 -2.250 +0.100
DFC 56.82 ADFCA00 81.61–81.65 81.630 +0.190 ADFCB00 -2.25/-2.15 -2.200 +0.100 ADFCC00 -3.190 -0.090 ADFCD00 81.520 +0.260
Qatar LSC 56.9 AARBB00 81.26–81.30 81.280 +0.190 AARBD00 -2.60/-2.50 -2.550 +0.100 AARBC00 -3.540 -0.090 AARBA00 81.170 +0.260
South Pars 57.4 AARAV00 76.46–76.50 76.480 +0.190 AARAX00 -7.40/-7.30 -7.350 +0.100 AARAW00 -8.340 -0.090 AARAU00 76.370 +0.260
Diff to ICP
Senipah 54.4 AAEOE00 73.70–73.74 73.720 +0.480 AAEOK00 -5.60/-5.50 -5.550 +0.100 AAPBE00 -11.100 +0.200 AAPBD00 73.610 +0.550
Light crude (PGA page 2214) (PGA page 2215)
Diff to ICP Diff to Asian Dated Brent
Cossack 47.7 PCAGZ00 80.90–80.94 80.920 +0.380 AAPAC00 -3.900 +0.100 AAPAB00 80.810 +0.450
Tapis 45.2 PCACB00 86.00–86.04 86.020 +0.280 AAOZW00 1.200 0.000 AAOZV00 85.910 +0.350
Belida 45.1 PCAFL00 76.60–76.64 76.620 +0.380 PCAFM00 -4.15/-4.05 -4.100 +0.050 AAPBQ00 -8.200 +0.100 AAPBP00 76.510 +0.450
Kutubu 44.3 PCAFJ00 79.50–79.54 79.520 +0.380 AAPAE00 -5.300 +0.100 AAPAD00 79.410 +0.450
Attaka 42.3 PCAAJ00 76.55–76.59 76.570 +0.380 PCAAK00 -4.15/-4.05 -4.100 +0.050 AAPBC00 -8.250 +0.100 AAPBB00 76.460 +0.450
Ardjuna 38 PCACQ00 81.30–81.34 81.320 +0.280 PCACR00 -1.95/-1.85 -1.900 0.000 AAPBG00 -3.500 0.000 AAPBF00 81.210 +0.350
Banyu Urip 32 PCAFQ00 86.470 +0.280 PCAQQ00 0.850 0.000 AAPBU00 1.650 0.000 AAPBR00 86.360 +0.350
Diff to Dubai
Sakhalin Blend 45.5 AARBN00 75.76–75.80 75.780 +0.190 AARCN00 -8.10/-8.00 -8.050 +0.100 AARDN00 -9.040 -0.090 AAREN00 75.670 +0.260
ESPO M1 34.8 AARWF00 80.01–80.05 80.030 +0.090 AASEU00 -3.85/-3.75 -3.800 0.000 AARWE00 -4.940 -0.290 AARWD00 79.770 +0.060
ESPO M2 34.8 AAWFE00 79.25–79.29 79.270 +0.080 AAWFG00 -3.85/-3.75 -3.800 0.000
Sokol 39.7 AASCJ00 80.01–80.05 80.030 +0.140 AASCK00 -3.85/-3.75 -3.800 +0.050 AAPAO00 -4.790 -0.140 AAPAN00 79.920 +0.210
Kikeh 34.9 AAWUH00 89.25–89.29 89.270 +0.280 AAOZY00 4.450 0.000 AAOZX00 89.160 +0.350
Miri Light 32.3 PCABQ00 88.70–88.74 88.720 +0.280 AAPAS00 3.900 0.000 AAPAR00 88.610 +0.350
Labuan 32 PCABL00 91.50–91.54 91.520 +0.280 AAPAQ00 6.700 0.000 AAPAP00 91.410 +0.350
Kimanis 38.6 AASCL00 92.520 +0.280 AASCM00 7.700 0.000 AASCN00 92.410 +0.350
Medium crude (PGA page 2216) (PGA page 2217)
Diff to Asian Dated Brent
Su Tu Den 36.8 AARAR00 89.95–89.99 89.970 +0.280 AARAS00 5.150 0.000 AARAQ00 89.860 +0.350
Bach Ho 40.7 PCAHY00 91.60–91.64 91.620 +0.280 AAPAK00 6.800 0.000 AAPAJ00 91.510 +0.350
Nanhai 40 PCAFR00 77.80–77.84 77.820 +0.280 AAPAG00 -7.000 0.000 AAPAF00 77.710 +0.350
Nile Blend 33.9 AAPLC00 81.60–81.64 81.620 +0.280 AAPAM00 -3.200 0.000 AAPAL00 81.510 +0.350
Daqing 32.2 PCAAZ00 85.70–85.74 85.720 +0.280 AAPAW00 0.900 0.000 AAPAV00 85.610 +0.350
Heavy crude (PGA page 2218) (PGA page 2219)
Diff to ICP Diff to Asian Dated Brent
Dar Blend 25 AARAB00 80.55–80.59 80.570 +0.280 AARAC00 -4.250 0.000 AARAA00 80.460 +0.350
Shengli 24.2 PCABY00 85.55–85.59 85.570 +0.280 AAPAY00 0.750 0.000 AAPAX00 85.460 +0.350
Duri 20.8 PCABA00 88.90–88.94 88.920 +0.280 PCABB00 1.80/1.90 1.850 0.000 AAPBM00 4.100 0.000 AAPBL00 88.810 +0.350
Vincent 18.3 AARAK00 93.020 +0.280 AARAL00 8.200 0.000 AARAJ00 92.910 +0.350

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

Asia-Pacific/Arab Gulf Marketscan July 12, 2024
The city-state’s naphtha exports surged 136.5% on
the week to 40,132 mt, with outflows mainly to South
Korea and China respectively of 25,985 mt and 14,147 mt.
Platts is part of S&P Global Commodity Insights.
Platts Japan Naphtha Daily Rationales &
Exclusions
Naphtha C+F Japan Cargo <PAAAD00> assessment
rationale:
The CFR Japan naphtha cargo assessment on July
12 took into consideration a trade for second-half
September at $703/mt, normalized to $703.50/mt in
line with higher crude values at the Asian close. The
second-half August-first-half September time spread
was assessed at $2/mt and the H1 September-H2
September time spread was assessed at $3/mt.
Naphtha FOB Spore Cargo <PAAAP00> assessment
rationale:
The FOB Singapore naphtha assessment was
derived as a freight netback from the CFR Japan
naphtha first cycle assessment using the following
calculation: CFR Japan naphtha first cycle assessment
minus the cost of transporting a 30,000-mt clean
Asia-Pacific/Arab Gulf Marketscan
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considers to be related and verifies through a variety of inputs whether
counterparties in reported trades meet these criteria.
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© 2024 by S&P Global Inc. All rights reserved. 9
cargo on the Singapore-to-Japan route.
Naphtha FOB Arab Gulf Cargo <PAAAA00>
assessment rationale:
The FOB Arab Gulf naphtha assessment was
derived as a freight netback from the CFR Japan
naphtha marker using the following calculation: CFR
Japan naphtha marker minus the cost of transporting
a 55,000-mt clean cargo from a basket of ports on the
Persian Gulf-to-Japan route.
Exclusions: No data was excluded from the July
12 Asian naphtha derivative Platts Market on Close
assessment process.
No data was excluded from the July 12 Asian
naphtha MOC.
Platts is part of S&P Global Commodity Insights.
Platts FOB Fujairah Naphtha Daily Rationale &
Exclusions
Naphtha FOB Fujairah <NFJSA00> assessment
rationale:
The assessment of FOB Fujairah naphtha on July
12 took into consideration the naphtha Mean of Platts
Arab Gulf strip value of $646.71/mt, as well as the cash
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their third-party licensors do not guarantee the adequacy, accuracy, timeliness
and/or completeness of the Data or any component thereof or any
differential at $28.25/mt in the absence of bids, offers
and trades in the FOB Fujairah naphtha Platts Market
on Close assessment process.
The MOPAG naphtha strip was calculated from the
August MOPAG naphtha swap at $645.74/mt and the
September MOPAG naphtha swap at $639.14/mt. The
cash differential took into consideration the FOB Arab
Gulf cash differential against MOPAG naphtha physical
in the absence of any competitive bids, offers or trades
demonstrating value otherwise.
Exclusions: No data was excluded from the July 12
Fujairah naphtha MOC.
Platts is part of S&P Global Commodity Insights.
Platts FOB Fujairah Naphtha Bids, Offers,
Trades
Bids: No bids
Offers: No offers
Trades: No trades
This assessment commentary applies to the
following market data codes: Naphtha FOB Fujairah
Cargo $/mt <NFJSA00>.
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Asia-Pacific/Arab Gulf Marketscan July 12, 2024
Platts Asia and Middle Eastern Jet Daily
Market Analysis
„ High inventories weigh on South Korea-USWC
arbitrage trades
„ Nayara Energy offers 60,000 mt jet A-1 fuel for
Aug 10-14
The Asian jet fuel/kerosene market remained soft
July 12 due to an overhang of end-July cargoes in
the region and a lack of outlets amid poor arbitrage
economics, sources said.
Brokers pegged the balance July-August jet fuel/
kerosene swaps time spread at minus 24 cents/b in
midmorning trade July 12, widening slightly from minus
23 cents/b at the previous day’s Asian close.
The cash differential for jet fuel/kerosene cargoes
loading from Singapore narrowed 3 cents/b on the day
to minus 9 cents/b to the Mean of Platts Singapore jet
fuel/kerosene assessments July 11.
Adding further pressure, arbitrage economics to
send jet fuel/kerosene from South Korea to the US
West Coast remained unviable despite strong air travel
demand due to the availability of healthy supplies.
The arbitrage window to ship South Korean jet fuel
to the US West Coast was closed at a disincentive of
minus $4.64/b, according to S&P Global Commodity
Insights Refined Product arbFlow released late July 11.
“US travel demand is healthy, but inventories are
high as well. There are sufficient cargoes in the market.
US refiners are running at the highest during summer
... and there are many imports of jet from Asia to US,”
said a regional middle distillates trader.
The US Transportation Security Administration
checked nearly 18.205 million air travelers in the week
to July 5, up by around 7.07% from the same week
last year. The year has had a record-breaking 463.502
million travelers as of July 8, higher by 6.35% from the
same time last year.
© 2024 by S&P Global Inc. All rights reserved. 10
USWC jet fuel inventories reached a six-week high,
rising 618,000 barrels to 10.724 million barrels in the
week ended July 5, as production grew by 39,000 b/d
to 480,000 b/d over the same period, according to the
Energy Information Administration.
Imports from Asia were on the back of previously
workable arbitrage economics, the trader source said.
According to S&P Global Commodities at Sea data
retrieved July 12, 449,400 mt (3.3 million barrels) of jet
fuel/kerosene loading from South Korea, China, Japan
and Singapore are set to discharge in the US PADD 5
region in July.
Nonetheless, “there will still be buyers,” the source
said, though whether it would make a dent in Asia’s
supply remained uncertain.
In tenders, India’s Nayara Energy offered 60,000 mt
of jet A-1 fuel for loading Aug. 10-14. The tender closes
July 12, with same-day validity.
Separately, Japan’s Narita International Airport is set
for what will be the first ever direct import of jet fuel
from abroad via trading houses as part of its efforts to
alleviate ongoing aviation fuel shortages, a company
spokesperson told Commodity Insights July 11.
“To increase our supplier options, we are requesting
trading houses in addition to refiners to import jet fuel
directly from overseas,” the spokesperson said.
“We are proceeding with what will be the first fuel
import from abroad,” said the spokesperson, declining
to elaborate on import volumes and delivery schedules.
The news of direct jet fuel imports by Narita Airport
emerged as the Japanese government is considering
compiling a policy response to address aviation fuel
shortages in the country at a task force meeting July 16.
Importing jet fuel from South Korea and others by
airport terminal operators, trading houses and refiners
is likely to be part of the policy response that would be
decided at the third round of the task force meeting,
an official at the Ministry of Land, Infrastructure,
Transport and Tourism said.
Transporting jet fuel directly via ocean liners to
ports nearby airports is among options, said the MLIT
official, adding that the Chiba port can berth up to a
6,000-kiloliter ship for instance.
Platts Asia & Middle East Jet Kero Daily
Rationale & Exclusions
Jet Kero FOB Spore Cargo <PJABF00> assessment
rationale:
The FOB Singapore Jet fuel/kerosene cargo
assessment July 12 was based on the following inputs:
The middle loading period was assessed at Mean of
Platts Singapore Jet fuel/kerosene assessment minus
19 cents/b, taking into consideration a trade for a
cargo loading over Aug. 1-5 at MOPS minus 19 cents/b
after accounting for deemed pricing. The front and
back loading periods were assessed at MOPS jet fuel/
kerosene assessment minus 19 cents/b and minus
13 cents/b, respectively, reflecting movement in the
middle loading period.
Jet Kero FOB Arab Gulf Cargo <PJAAA00>
assessment rationale:
The FOB Arab Gulf Jet Kero cargo assessment was
derived as a freight netback from the FOB Singapore
Jet Kero cargo assessment using the following input:
FOB Singapore Jet Kero cargo assessment minus the
cost of transporting a 55,000-mt clean cargo from a
basket of ports in the Persian Gulf to Singapore.
Exclusions: No data was excluded from the July 12
Singapore jet fuel/kerosene Platts Market on Close
assessment process.
Platts FOB Fujairah Jet Kero Rationale &
Exclusions
Jet Kero FOB Fujairah cargo <AFUJF00>
assessment rationale:
Platts assessed FOB Fujairah jet fuel/kerosene
on July 12 at a premium of $2.45/b to the Mean of
Platts Arab Gulf jet fuel/kerosene assessment, taking
Asia-Pacific/Arab Gulf Marketscan July 12, 2024
into consideration prices in the FOB Fujairah jet fuel/
kerosene market as well as differentials for recent
cargo trades heard in the Middle East. The MOPAG jet
fuel/kerosene strip was at $96.15/b.
Exclusions: No data was excluded from the July 12
Fujairah jet fuel/kerosene Market on Close assessment
process.
Platts is part of S&P Global Commodity Insights.
Platts Singapore Jet Kero Bids, Offers,
Trades
Bids: No bids reported
Offers: Jet: FOB Straits: Aramco offers MOPS +0.20
July 27-31 100kb (Deemed pricing July 19-26); Jet:
FOB Straits: BP offers MOPS +0.20 July 27-31 100kb
(Deemed pricing July 25-31) BP GTC. Seller represents
and warrants that, to the best of its knowledge, the
Cargo delivered under this Contract:(i) does not
contain any product that was produced, manufactured
or processed in, or exported from; or (ii) has not been
produced through a blending process that uses
product or components that have been produced,
manufactured or processed in, or exported from,
in each case, the Russia Federation or Crimea, the
Donetsk People’s Republic or the Luhansk People’s
Republic in Ukraine; Jet: FOB Straits: Trafigura offers
MOPS +0.20 July 27-31 100kb (Deemed pricing July
26-August 1) INCO or MOPS +0.20 August 1-5 100kb
(Deemed pricing July 31-August 6) INCO or MOPS
+0.20 August 6-10 100kb (Deemed pricing August 5-12)
INCO; Jet: FOB Straits: Unipec offers MOPS +0.20 July
27-31 136kb (Deemed pricing July 25-31) INCO; Jet: FOB
Straits: Aramco offers MOPS +0.20 August 1-5 100kb
(Deemed pricing July 15-19); Jet: FOB Straits: Aramco
offers MOPS +0.20 August 6-10 100kb (Deemed pricing
July 26-August 2); Jet: FOB Straits: BP offers MOPS
+0.30 August 6-10 100kb (Deemed pricing August 5-12)
BP GTC. Seller represents and warrants that, to the
© 2024 by S&P Global Inc. All rights reserved. 11
best of its knowledge, the Cargo delivered under this
Contract:(i) does not contain any product that was
produced, manufactured or processed in, or exported
from; or (ii) has not been produced through a blending
process that uses product or components that have
been produced, manufactured or processed in, or
exported from, in each case, the Russia Federation or
Crimea, the Donetsk People’s Republic or the Luhansk
People’s Republic in Ukraine
Trades: Jet: FOB Straits: August 1-5: 100kb: Vitol buys
from BP at MOPS minus 20 cents/b (Deemed pricing
August 1-7) BP GTC (4:28:58)
Withdrawn: Jet: FOB Straits: BP no longer offers
MOPS -0.20 August 1-5 100kb (Deemed pricing August
1-7) BP GTC. Seller represents and warrants that, to
the best of its knowledge, the Cargo delivered under
this Contract:(i) does not contain any product that was
produced, manufactured or processed in, or exported
from; or (ii) has not been produced through a blending
process that uses product or components that have
been produced, manufactured or processed in, or
exported from, in each case, the Russia Federation
or Crimea, the Donetsk People’s Republic or the
Luhansk People’s Republic in Ukraine after trade with
Petrochina (4:28:58)
This assessment commentary applies to the
following market data codes: Jet Kero <PJABF00>
Platts Asia and Middle Eastern Gasoil Daily
Market Analysis
„ CPC sells 300,000 barrels of 10 ppm sulfur
gasoil for Aug
„ Singapore’s gasoil exports plummet 81.98% on week
July 4-10
The Asia gasoil complex was largely rangebound
July 12 with steady near-term demand and supply
fundamentals keeping the market on an even keel.
Brokers pegged the balance-month July-August
Singapore gasoil swap time spread at minus 11 cents/b
in midafternoon trading July 12, narrowing 1 cent/b
from the July 11 Asian close, S&P Global Commodity
Insights data showed.
Taiwan’s state-run CPC has sold 300,000 barrels of
10 ppm sulfur gasoil to an international oil company
at a discount of around 90 cents/b to the August
average of the Mean of Platts Singapore 10 ppm sulfur
gasoil assessments, FOB Kaohsiung, Commodity
Insights reported earlier. The buyer will indicate a five-
day period during Aug. 1-20 to load the cargo, trade
sources said.
Some industry sources observed that this price
level could mean that the market is well-supported in
August despite a seasonal lull.
“I am not sure why it was awarded at such a high
price. There is still quite a lot of gasoil in the region,” a
regional gasoil trader said.
For comparison, Taiwan’s Formosa Petrochemical
had sold 750,000 barrels of 10 ppm sulfur gasoil
loading Aug. 6-10 at a discount of $1.10/b to the
loading-month average of MOPS 10 ppm sulfur gasoil
assessments, FOB Mailiao.
“Generally, Formosa and CPC barrels can command
higher premiums due to high seas bunkering in Taiwan
Straits,” a regional middle distillate trader said, adding
that the CPC award level was higher than usual.
South Korea’s SK Energy was offering two
300,000-barrel cargoes of ultra low sulfur gasoil
loading Aug. 6-8 and Aug. 8-10 at a differential to
the August average of MOPS 10 ppm sulfur gasoil
assessment, FOB Ulsan.
SK Energy’s parent company SK Innovation restarted
its 240,000 b/d No. 4 crude distillation unit at the
840,000 b/d Ulsan complex on June 20 after a month-
long maintenance period, a company official said July 11.
The refiner also restarted its No. 1 residue
hydrodesulfurization unit also in Ulsan, with a capacity
Asia-Pacific/Arab Gulf Marketscan July 12, 2024
of 72,000 b/d, on the same day, after month-long
maintenance works, the official added.
The maintenance for the No. 4 CDU comes
after it was shut between Nov. 22 and Dec. 6 due
to unexpected repairs stemming from a column
equipment issue.
Singapore’s onshore commercial stocks of middle
distillates inched 0.8% higher to 8.45 million barrels
over the July 4-10 week after hitting a five-month low
of 8.39 million barrels in the previous week, Enterprise
Singapore data showed July 11.
The city-state remained a net exporter of gasoil
though outflows fell 31.78% to a two-month low at
274,007 mt (2.04 million barrels). Exports were last
seen lower over April 25-May 1 at 243,487 mt, historical
Enterprise Singapore data showed.
Malaysia absorbed the bulk of Singapore’s gasoil
outflows at 60,111 mt, followed by Australia and
Myanmar at 57,741 mt and 47,339 mt, respectively.
Meanwhile, gasoil imports tumbled 81.98% on the
week to 55,615 mt after reaching a four-month high of
308,678 mt in the previous week.
India emerged as Singapore’s top supplier of gasoil
over the week at 30,001 mt, followed by South Korea
and Malaysia at 13,831 mt and 11,758 mt, respectively.
Gasoil inflows from India were last seen in the week to
June 19 at 106,883 mt.
Singapore could continue to receive gasoil imports
from India in coming months as weaker domestic
demand due to the monsoon season spur refiners to
export. India’s monsoon season begins in June and
usually ends in September. Gasoil is mainly used by the
industrial and agricultural sectors to power vehicles
and machinery.
“There are usually more gasoil exports from India
during the monsoon season and this also coincides
with seasonal lull on the demand side, so this could
weigh on the Asian gasoil complex,” a second regional
middle distillate trader said.
© 2024 by S&P Global Inc. All rights reserved. 12
Platts Asia and Middle Eastern Gasoil Cargo
Daily Rationale & Exclusions
Gasoil 0.001%S (10 ppm) FOB Spore Cargo
<AAOVC00> assessment rationale:
The benchmark FOB Singapore Gasoil 0.001% (10
ppm) cargo assessment July 12 was based on the
following inputs: The front loading period was assessed
at Mean of Platts Singapore gasoil minus 43 cents/b,
considering an offer for a cargo loading over July 27-31
at MOPS gasoil minus 41 cents/b and a bid for a cargo
loading over July 28-Aug. 1 at MOPS gasoil minus 33
cents/b. The middle loading period was assessed at
MOPS gasoil minus 10 cents/b, based on an offer for
a cargo loading over Aug. 2-6 at MOPS gasoil minus 10
cents/b, and a bid for a cargo loading over Aug. 1-5 at
MOPS gasoil plus 9 cents/b. The back loading period
was assessed at MOPS gasoil minus 11 cents/b, based
on an offer for a cargo loading over Aug. 7-11 at MOPS
gasoil minus 10 cents/b, and a bid for a cargo loading
over Aug. 6-10 at MOPS gasoil plus 9 cents/b. All bids
and offers taken into account for the assessment were
normalized for deemed pricing.
Gasoil 0.05%S (500 ppm) FOB Spore Cargo
<AAFEX00> assessment rationale:
The FOB Singapore Gasoil 0.05% (500 ppm) cargo
assessment July 12 was based on the following inputs:
The middle loading period was assessed at MOPS gasoil
minus 50 cents/b, based on a trade for a cargo loading
over Aug. 1-5 at MOPS gasoil minus 50 cents/b, after
normalizing for deemed pricing. The front and back
loading periods were assessed at MOPS gasoil minus 44
cents/b and MOPS gasoil minus 49 cents/b, respectively,
reflecting the movement in the middle loading period.
Gasoil FOB Spore Cargo <POABC00> assessment
rationale:
The benchmark FOB Singapore Gasoil 0.001% (10
ppm) cargo assessment July 12 was based on the
following inputs: The front loading period was assessed
at MOPS gasoil minus 43 cents/b, considering an offer
for a cargo loading over July 27-31 at MOPS gasoil minus
41 cents/b and a bid for a cargo loading over July 28-Aug.
1 at MOPS gasoil minus 33 cents/b. The middle loading
period was assessed at MOPS gasoil minus 10 cents/b,
based on an offer for a cargo loading over Aug. 2-6 at
MOPS gasoil minus 10 cents/b, and a bid for a cargo
loading over Aug. 1-5 at MOPS gasoil plus 9 cents/b. The
back loading period was assessed at MOPS gasoil minus
11 cents/b, based on an offer for a cargo loading over
Aug. 7-11 at MOPS gasoil minus 10 cents/b, and a bid for
a cargo loading over Aug. 6-10 at MOPS gasoil plus 9
cents/b. All bids and offers taken into account for the
assessment were normalized for deemed pricing.
Platts is part of S&P Global Commodity Insights.
Exclusions: No market data was excluded from
the July 12 Singapore gasoil Platts Market on Close
assessment process
Platts FOB Fujairah Gasoil Daily Rationale &
Exclusions
Gasoil FOB Fujairah cargo <AFUJK00> assessment
rationale:
The FOB Fujairah Gasoil assessment on July 12 was
assessed at a premium of $2.20/b to Mean of Platts
Arab Gulf gasoil assessment, taking into consideration
prices in the FOB Fujairah gasoil market as well as
differentials for recent cargo trades heard in the
Middle East. The MOPAG Gasoil Strip was $96.88/b.
Gasoil 500 ppm FOB Fujairah cargo <AFUJN00>
assessment rationale:
The FOB Fujairah 500 ppm Gasoil assessment on
July 12 was assessed at a discount of 20 cents/b to
Mean of Platts Arab Gulf gasoil assessment, taking into
consideration prices in the FOB Fujairah gasoil market
as well as differentials for recent cargo trades heard in
the Middle East. The MOPAG Gasoil Strip was $96.88/b.
Exclusions: No market data was excluded
from the July 12 Fujairah Gasoil Market on Close
assessment process.
Asia-Pacific/Arab Gulf Marketscan July 12, 2024
Platts Asia and Middle Eastern Gasoil Cargo
Bids, Offers, Trades
Bids: Gasoil 10ppm: FOB Straits: Trafigura bids
MOPS -0.35 July 28-August 1 250kb (Deemed pricing
July 30-August 5) INCO or MOPS -0.10 August 1-5
250kb (Deemed pricing August 1-7) INCO or MOPS -0.10
August 6-10 250kb (Deemed pricing August 6-13) INCO;
Gasoil 10ppm: FOB Straits: Mercuria bids MOPS -0.50
August 7-11 150kb (Deemed pricing August 5-12); Gasoil
500ppm: FOB Straits: Vitol bids MOPS -0.50 July 27-31
150kb (Deemed pricing July 26-August 1) INCO or Gasoil
2500ppm: FOB Straits: Vitol bids MOPS -0.80 July 27-31
150kb (Deemed pricing July 26-August 1) INCO
Withdrawn: Gasoil 500ppm: FOB Straits: Vitol no
longer bids MOPS -0.50 August 1-5 150kb (Deemed
pricing July 31-August 6) INCO or Gasoil 2500ppm:
FOB Straits: Vitol bids MOPS -1.10 August 6-10 150kb
(Deemed pricing August 5-12) INCO after trade with
Petrochina at -0.50 (4:29:30)
Offers: Gasoil 10ppm: FOB Straits: BP offers MOPS
-0.40 July 27-31 150kb (Deemed pricing July 25-31)
BP GTC. Seller represents and warrants that, to the
best of its knowledge, the Cargo delivered under this
Contract:(i) does not contain any product that was
produced, manufactured or processed in, or exported
from; or (ii) has not been produced through a blending
process that uses product or components that have
been produced, manufactured or processed in, or
exported from, in each case, the Russia Federation or
Crimea, the Donetsk People’s Republic or the Luhansk
People’s Republic in Ukraine; Gasoil 10ppm: FOB Straits:
Aramco offers MOPS -0.10 August 2-6 150kb (Deemed
pricing August 1-7) or MOPS -0.10 August 7-11 150kb
(Deemed pricing August 6-13); Gasoil 10ppm: FOB
Straits: Unipec offers MOPS +0.10 August 7-11 150kb
(Deemed pricing August 6-13) INCO
Trade: Gasoil 500ppm: FOB Straits: August 1-5: 150kb:
Petrochina sells to Vitol at MOPS minus 50 cents/b
© 2024 by S&P Global Inc. All rights reserved. 13
(Deemed pricing July 31-August 6) INCO (4:29:30)
This assessment commentary applies to the
following market data codes: <AAOVC00> <AAFEX00>
<AACUE00> <POABC00> <AAFEZ00>
Platts Asia and Middle Eastern Gasoil FOB
Cargo Daily Rationale & Exclusions
Gasoil 0.25%S (2,500 ppm) FOB Spore Cargo
<AACUE00> assessment rationale:
The FOB Singapore Gasoil 0.25% (2,500 ppm) cargo
assessment July 12 was based on the following inputs:
The front loading period was assessed at Mean of
Platts Singapore gasoil minus 75 cents/b, factoring
a bid for a cargo loading over July 27-31 at MOPS
gasoil minus 80 cents/b, after normalizing for deemed
pricing. The back loading period was assessed at
MOPS gasoil minus $1.07/b, based on a bid for a cargo
loading over Aug. 6-10 and MOPS gasoil minus $1.10/b,
after accounting for deemed pricing. The middle
loading period was assessed at MOPS gasoil minus 95
cents/b, tracking the movement in the front and back
loading periods.
Gasoil 0.05% (500 ppm) FOB Arab Gulf Cargo
<AAFEZ00> assessment rationale:
The FOB Arab Gulf Gasoil 0.05% (500 ppm) cargo
assessment was derived as a freight netback from
the FOB Singapore gasoil 0.001% (10 ppm) cargo
assessment using the following inputs: FOB Singapore
gasoil 0.001% (10 ppm) cargo assessment minus the
cost of transporting a 55,000-mt clean cargo from a
basket of ports in the Persian Gulf to Singapore, and
taking into account the cash differential between the
FOB Arab Gulf 10 ppm and 500 ppm assessments.
Gasoil FOB Arab Gulf Cargo <POAAT00>
assessment rationale:
The FOB Arab Gulf Gasoil 0.001% (10 ppm) cargo
assessment was derived as a freight netback
from the FOB Singapore gasoil 0.001% (10 ppm)
cargo assessment using the following input: FOB
Singapore gasoil 0.001% (10 ppm) cargo assessment
minus the cost of transporting a 55,000-mt clean
cargo from a basket of ports in the Persian Gulf to
Singapore.
Platts is part of S&P Global Commodity Insights.
Exclusions:
No market data was excluded from the July 12, 2024
Singapore gasoil Platts Market on Close assessment
process
Platts Asia and Middle East Fuel Oil Daily
Market Analysis
„ Asia’s LSFO cash premium climbs further amid
active cargo demand
„ Singapore fuel oil stocks drop to 6-week low
despite bumpy bunker demand
„ Fuel oil imports into Singapore more than
halves on week
The Asian low sulfur fuel oil market structure was
seen holding steady at prevailing levels July 12, after
cash differential for the marine fuel gained for a fourth
consecutive session amid competitive bids in the
physical trade window.
The Singapore marine fuel 0.5%S balance July-
August swaps time spread was pegged at $6.25/mt
in midafternoon Asian trade July 12, in line with Platts
assessment of the spread at the Asian close July 11.
Platts assessed the Singapore marine fuel 0.5%S
cargo’s differential over the Mean of Platts Singapore
marine fuel 0.5%S assessment 30 cents higher on the
day at a premium of $6.23/mt at the Asian close July
11, a fresh high since May 21, when it was assessed at a
premium of $6.71/mt, S&P Global Commodity Insights
data showed.
The spread between the Singapore 0.5% sulfur
marine fuel oil and the benchmark high sulfur fuel
oil cargo prices — known as the Hi-5 spread — was
Asia-Pacific/Arab Gulf Marketscan July 12, 2024
assessed at $96.81/mt on July 11, down from $99.33/mt
July 10. The Hi-5 spread, which has weakened about 7%
so far in July, was currently at its narrowest since June
24, when it was assessed at $90.04/mt, Commodity
Insights data showed.
The benchmark Singapore 380 CST high sulfur
fuel oil cargo’s cash premium over the MOPS 380 CST
HSFO assessment rose 25 cents on the day at $5.07/
mt July 11, while the Singapore 180 CST HSFO cash
differential to the MOPS 180 CST HSFO assessment
dropped $1.43/mt from the preceding session at
a premium of $5.07, partly weighed down by an
aggressive offer from Gunvor during the Platts Market
on Close assessment process.
Singapore’s commercial stockpiles of heavy
distillates dropped 9.1% on the week to a six-week
low of 17.8 million barrels in the week ended July 10,
Enterprise Singapore data released late July 11 showed,
as imports into the world’s largest bunkering hub more
than halved on the week.
The city-state’s fuel oil imports plunged 54.8% on
the week to 557,089 mt in the week to July 10 with
inflows from Asian suppliers making up about 62% of
the total volume in the latest week at about 345,685
mt, while imports from the Middle East slumped
about 85% on the week to 57,303 mt, of which 29,948
mt came from the UAE and the rest from Iraq, the
data showed.
Bumpy end-user demand in both the low and high
sulfur fuel oil segments have led sellers to offer more
aggressively to draw inquiries and move cargoes,
Commodity Insights reported earlier.
While volumes of nominations on a term contract
basis were seen largely stable, Singapore’s spot LSFO
market has faced intense regional competition where
lower offers were reportedly available, such as at the
neighboring Port Klang and China’s bunker hub of
Zhoushan, bunker suppliers said.
Platts is part of S&P Global Commodity Insights.
© 2024 by S&P Global Inc. All rights reserved. 14
Platts FOB Singapore Marine Fuel 0.5% cargo
Daily Rationale & Exclusions
Marine Fuel 0.5% FOB Spore cargo $/mt <AMFSA00>
Assessment Rationale: The FOB Singapore Marine
Fuel 0.5% assessment July 12 took into consideration
notional values in the absence of any competitive bids
or offers demonstrating the values otherwise.
Exclusions: No market data was excluded from the
July 12 cargo assessment process.
This assessment commentary applies to the
following market data codes: Marine Fuel 0.5% FOB
Spore cargo $/mt <AMFSA00>
Platts FOB Singapore Marine Fuel 0.5%
Cargo Bids, Offers, Trades
Bids: Platts Marine Fuel 0.5%: FOB Straits: P66 bids
MOPS +2.00 Aug 1-5 40kt OR
Platts Marine Fuel 0.5%: FOB Straits: P66 bids
MOPS +2.00 Aug 6-10 40kt
Platts Marine Fuel 0.5%: FOB Straits: Total bids
MOPS +2.00 Jul 27-31 40kt INCO OR
Platts Marine Fuel 0.5%: FOB Straits: Total bids
MOPS +2.00 Aug 1-5 40kt INCO OR
Platts Marine Fuel 0.5%: FOB Straits: Total bids
MOPS +2.00 Aug 6-10 40kt INCO
Platts Marine Fuel 0.5%: FOB Straits: Gunvor bids
MOPS +3.50 Jul 27-31 40kt OR (Seller represents and
warrants that the cargo delivered/to be delivered under
this Contract: (i) does not contain any product that was
produced, manufactured or processed in, or exported
from; or (ii) has not been produced through a blending
process that uses product or components that have been
produced, manufactured or processed in, or exported
from, in each case, the Russia Federation or Crimea,
the Donetsk People’s Republic or the Luhansk People’s
Republic in Ukraine. Seller shall provide, upon request,
documentary evidence of compliance showing the
origin(s) of the cargo, to Buyer’s reasonable satisfaction.)
Platts Marine Fuel 0.5%: FOB Straits: Gunvor bids
Bal Jul +3.00 Jul 27-31 40kt OR (Seller represents and
warrants that the cargo delivered/to be delivered
under this Contract: (i) does not contain any product
that was produced, manufactured or processed in, or
exported from; or (ii) has not been produced through
a blending process that uses product or components
that have been produced, manufactured or processed
in, or exported from, in each case, the Russia
Federation or Crimea, the Donetsk People’s Republic
or the Luhansk People’s Republic in Ukraine. Seller
shall provide, upon request, documentary evidence
of compliance showing the origin(s) of the cargo, to
Buyer’s reasonable satisfaction.)
Platts Marine Fuel 0.5%: FOB Straits: Gunvor bids
MOPS +3.50 Aug 1-5 40kt OR (Seller represents and
warrants that the cargo delivered/to be delivered
under this Contract: (i) does not contain any product
that was produced, manufactured or processed in, or
exported from; or (ii) has not been produced through
a blending process that uses product or components
that have been produced, manufactured or processed
in, or exported from, in each case, the Russia
Federation or Crimea, the Donetsk People’s Republic
or the Luhansk People’s Republic in Ukraine. Seller
shall provide, upon request, documentary evidence
of compliance showing the origin(s) of the cargo, to
Buyer’s reasonable satisfaction.)
Platts Marine Fuel 0.5%: FOB Straits: Gunvor bids
Bal Jul +2.00 Aug 1-5 40kt OR (Seller represents and
warrants that the cargo delivered/to be delivered under
this Contract: (i) does not contain any product that was
produced, manufactured or processed in, or exported
from; or (ii) has not been produced through a blending
process that uses product or components that have been
produced, manufactured or processed in, or exported
from, in each case, the Russia Federation or Crimea,
the Donetsk People’s Republic or the Luhansk People’s
Republic in Ukraine. Seller shall provide, upon request,
Asia-Pacific/Arab Gulf Marketscan July 12, 2024
documentary evidence of compliance showing the
origin(s) of the cargo, to Buyer’s reasonable satisfaction.)
Platts Marine Fuel 0.5%: FOB Straits: Gunvor bids
MOPS +3.50 Aug 7-11 40kt OR (Seller represents and
warrants that the cargo delivered/to be delivered
under this Contract: (i) does not contain any product
that was produced, manufactured or processed in, or
exported from; or (ii) has not been produced through
a blending process that uses product or components
that have been produced, manufactured or processed
in, or exported from, in each case, the Russia
Federation or Crimea, the Donetsk People’s Republic
or the Luhansk People’s Republic in Ukraine. Seller
shall provide, upon request, documentary evidence
of compliance showing the origin(s) of the cargo, to
Buyer’s reasonable satisfaction.)
Platts Marine Fuel 0.5%: FOB Straits: Gunvor bids
Bal Jul +1.00 Aug 7-11 40kt (Seller represents and
warrants that the cargo delivered/to be delivered
under this Contract: (i) does not contain any product
that was produced, manufactured or processed in, or
exported from; or (ii) has not been produced through
a blending process that uses product or components
that have been produced, manufactured or processed
in, or exported from, in each case, the Russia
Federation or Crimea, the Donetsk People’s Republic
or the Luhansk People’s Republic in Ukraine. Seller
shall provide, upon request, documentary evidence
of compliance showing the origin(s) of the cargo, to
Buyer’s reasonable satisfaction.)
Offers: Platts Marine Fuel 0.5%: FOB Straits: BP
offers MOPS +7.00 Jul 27-31 20kt BP GTC OR ( (Seller
represents and warrants that, to the best of its
knowledge, the cargo delivered under this Contract:
(i) does not contain any product that was produced,
manufactured or processed in, or exported from; or (ii)
has not been produced through a blending process
that uses product or components that have been
produced, manufactured or processed in, or exported
© 2024 by S&P Global Inc. All rights reserved. 15
from, in each case, the Russia Federation or Crimea,
the Donetsk People’s Republic or the Luhansk People’s
Republic in Ukraine.)
Platts Marine Fuel 0.5%: FOB Straits: BP offers MOPS
+9.00 Aug 1-5 20kt BP GTC OR (Seller represents and
warrants that, to the best of its knowledge, the cargo
delivered under this Contract: (i) does not contain any
product that was produced, manufactured or processed
in, or exported from; or (ii) has not been produced
through a blending process that uses product or
components that have been produced, manufactured or
processed in, or exported from, in each case, the Russia
Federation or Crimea, the Donetsk People’s Republic or
the Luhansk People’s Republic in Ukraine.)
Platts Marine Fuel 0.5%: FOB Straits: BP offers
MOPS +9.00 Aug 6-10 20kt BP GTC (Seller represents
and warrants that, to the best of its knowledge, the
cargo delivered under this Contract: (i) does not
contain any product that was produced, manufactured
or processed in, or exported from; or (ii) has not been
produced through a blending process that uses
product or components that have been produced,
manufactured or processed in, or exported from,
in each case, the Russia Federation or Crimea, the
Donetsk People’s Republic or the Luhansk People’s
Republic in Ukraine.)
Platts Marine Fuel 0.5%: FOB Straits: Vitol offers
MOPS +8.00 Jul 27-31 20kt INCO OR
Platts Marine Fuel 0.5%: FOB Straits: Vitol offers
MOPS +8.00 Aug 1-5 20kt INCO OR
Platts Marine Fuel 0.5%: FOB Straits: Vitol offers
MOPS +9.00 Aug 6-10 20kt INCO
Platts Marine Fuel 0.5%: FOB Straits: Trafigura
offers MOPS +9.00 Jul 27-31 20kt OR
Platts Marine Fuel 0.5%: FOB Straits: Trafigura
offers MOPS +9.00 Aug 1-5 20kt OR
Platts Marine Fuel 0.5%: FOB Straits: Trafigura
offers MOPS +9.00 Aug 6-10 20kt
WD: Platts Marine Fuel 0.5%: FOB Straits: Glencore
withdraws offer MOPS +8.00 Jul 27-31 20kt INCO
(4:29:52.954) OR
WD: Platts Marine Fuel 0.5%: FOB Straits: Glencore
withdraws offer MOPS +8.00 Aug 1-5 20kt INCO OR
WD: Platts Marine Fuel 0.5%: FOB Straits: Glencore
withdraws offer MOPS +9.00 Aug 6-10 20kt INCO
Trades: No trade
This assessment commentary applies to the
following market data codes: Marine Fuel 0.5% FOB
Spore cargo $/mt <AMFSA00>
Platts Singapore Fuel Oil Paper Exclusions
Exclusions: No market data was excluded from the
July 12, 2024 Asian fuel oil paper assessment process.
Fuel Oil Reported Deals
PLATTS SINGAPORE FUEL OIL PAPER TRADES
SUMMARY 12 Jul24
FUEL OIL 180CST SINGAPORE/FUEL OIL 380CST
SINGAPORE
PLATTS FO SPR: BAL MONTH: ONYX SELLS TO BP*
5KMT AT $6.25 (08:29:55)
FUEL OIL 380CST SINGAPORE
PLATTS FO: AUG24: HOTEI BUYS FROM ONYX*
5KMT AT $505.00 (08:29:11)
PLATTS FO: AUG24: HOTEI BUYS FROM ONYX*
5KMT AT $505.00 (08:29:16)
PLATTS FO: AUG24: HOTEI BUYS FROM ONYX*
5KMT AT $505.00 (08:29:22)
PLATTS FO: AUG24: FREEPOINT BUYS FROM DARE*
5KMT AT $505.00 (08:29:28)
PLATTS FO: AUG24: DARE SELLS TO HOTEI* 5KMT
AT $505.00 (08:29:33)
PLATTS FO: AUG24: DARE SELLS TO HOTEI* 5KMT
AT $504.95 (08:29:36)
PLATTS FO: AUG24: HOTEI BUYS FROM DARE*
5KMT AT $505.00 (08:29:40)
Asia-Pacific/Arab Gulf Marketscan July 12, 2024
PLATTS FO: AUG24: ONYX SELLS TO HOTEI* 5KMT
AT $504.95 (08:29:43)
PLATTS FO: AUG24: HOTEI BUYS FROM DARE*
5KMT AT $505.00 (08:29:48)
PLATTS FO: AUG24: DARE SELLS TO HOTEI* 5KMT
AT $504.95 (08:29:55)
PLATTS FO: AUG24: ONYX SELLS TO GOODE* 5KMT
AT $504.80 (08:29:56)
PLATTS SINGAPORE MARINE FUEL 0.5% PAPER
TRADES SUMMARY 12 Jul24
MARINE FUEL 0.5% FOB SINGAPORE (PLATTS)
PLATTS MARINE FUEL: AUG24: VITOL BUYS FROM
GOODE* 5KMT AT $604.25 (08:29:57)
PLATTS MARINE FUEL: AUG24: MERCURIA BUYS
FROM GLENCORE* 5KMT AT $604.25 (08:30:00)
PLATTS MARINE FUEL SPR: BAL MONTH/AUG24:
SHELL BUYS FROM MITSUI* 5KMT AT $5.75 (08:29:54)
PLATTS MARINE FUEL SPR: BAL MONTH/AUG24:
GUNVOR BUYS FROM MITSUI* 5KMT AT $5.75 (08:29:56)
PLATTS MARINE FUEL SPR: BAL MONTH/AUG24:
MITSUI SELLS TO GUNVOR* 5KMT AT $5.75 (08:29:59)
Platts Fujairah Daily Marine Fuel 0.5% Cargo
Daily Rationale & Exclusions
Marine Fuel 0.5% FOB Fujairah cargo $/mt
<AMFFA00> assessment rationale: The FOB Fujairah
Marine Fuel 0.5%S cargo assessment July 12 took into
consideration prices in the Fujairah-delivered Marine
Fuel 0.5%S bunker market as well as differentials at
which marine fuel 0.5%S cargoes were heard traded in
the Middle East.
Exclusions: No market data was excluded from the
July 12 assessment process.
This rationale applies to symbol(s) <AMFFA00>
Platts Fujairah Daily Marine Fuel 0.5%
Cargo Bids, Offers, Trades
Bids: No bids
Offers: No offers
© 2024 by S&P Global Inc. All rights reserved.
Trades: No trades
This assessment commentary applies to the
following market data codes: Marine Fuel 0.5% FOB
Fujairah cargo $/mt <AMFFA00>
Platts Asia and Middle East FO 180, 380 CST
Daily Rationales & Exclusions
FO 180 CST 3.5%S FOB Spore Cargo <PUADV00>
assessment rationale: The FOB Singapore 180 CST
HSFO assessment July 12 took into consideration
an offer from Gunvor for an Aug. 1-5 cargo loading
from floating storage unit (FSU) SA Crystal or FSU
SA Equatorial at Mean of Platts Singapore 180 CST
HSFO assessment plus $5/mt. The assessment also
took into consideration the drop in Singapore 180
CST HSFO balance July-August swaps spread, which
was assessed 90 cents/mt narrower on the day at
$7.50/mt.
FO 380 CST 3.5%S FOB Spore Cargo <PPXDK00>
assessment rationale: The FOB Singapore 380 CST
HSFO assessment July 12 took into consideration
notional values in the absence of any competitive bids
or offers demonstrating the values otherwise.
FO 180 CST 3.5%S FOB Arab Gulf Cargo <PUABE00>
assessment rationale: The FOB Arab Gulf 180 CST
HSFO assessment was derived as a freight netback
from the FOB Singapore 180 CST HSFO assessment
using the following calculation: FOB Singapore 180 CST
HSFO assessment minus the cost of transporting an
80,000-mt dirty cargo from the Persian Gulf to the East.
FO 380 CST 3.5%S FOB Arab Gulf Cargo <AAIDC00>
assessment rationale: The FOB Arab Gulf 380 CST
HSFO assessment was derived as a freight netback
from the FOB Singapore 380 CST HSFO assessment
using the following calculation: FOB Singapore 380 CST
HSFO assessment minus the cost of transporting an
80,000-mt dirty cargo from the Persian Gulf to the East.
Exclusions: No market data was excluded from the
July 12 high sulfur fuel oil cargo assessment process.
Platts is part of S&P Global Commodity Insights.
16
Platts FOB Fujairah Daily 380 CST HSFO Cargo
Daily Rationale & Exclusions
HSFO 380 CST FOB Fujairah cargo $/mt
<AFUJQ00> assessment rationale: The FOB Fujairah
380 CST HSFO assessment on July 12 took into
consideration prices in the Fujairah 380 CST HSFO
delivered bunker market as well as differentials for
recent cargo trades heard in the Middle East.
Exclusions: No market data was excluded from the
July 12 assessment process.
Platts Singapore Fuel Oil Bids Offers Trades
Bids: PLATTS HSFO: PHYSICAL BIDS FINALS ON
CLOSE (180 CST):
Platts HSFO 180CST: FOB Straits: Rex Commodities
bids MOPS +2.00 Jul 31-Aug 4 40kt OR (It is a condition
of this bid/agreement that the products sold and
delivered by Seller will not be of Russian Federation
(RF) origin (which includes product exported from
RF), nor blended with any RF origin product. Buyer
reserves the right to ask for documentary evidence of
compliance, showing refinery origin(s) of the cargo, to
the Buyer’s reasonable satisfaction.)
Platts HSFO 180CST: FOB Straits: Rex Commodities
bids MOPS +2.00 Aug 5-9 40kt (It is a condition of this
bid/agreement that the products sold and delivered
by Seller will not be of Russian Federation (RF) origin
(which includes product exported from RF), nor
blended with any RF origin product. Buyer reserves the
right to ask for documentary evidence of compliance,
showing refinery origin(s) of the cargo, to the Buyer’s
reasonable satisfaction.)
PLATTS HSFO: PLATTS HSFO: PHYSICAL BIDS
FINALS ON CLOSE (380 CST):
Platts HSFO 380CST: FOB Straits: BP bids MOPS
+0.00 Jul 27-31 20kt OR (Seller represents and warrants
that, to the best of its knowledge, the cargo delivered
under this Contract: (i) does not contain any product
that was produced, manufactured or processed in, or
Asia-Pacific/Arab Gulf Marketscan July 12, 2024
exported from; or (ii) has not been produced through
a blending process that uses product or components
that have been produced, manufactured or processed
in, or exported from, in each case, the Russia
Federation or Crimea, the Donetsk People’s Republic or
the Luhansk People’s Republic in Ukraine.)
Platts HSFO 380CST: FOB Straits: BP bids MOPS
+0.00 Jul 30-Aug 3 20kt OR (Seller represents and
warrants that, to the best of its knowledge, the cargo
delivered under this Contract: (i) does not contain
any product that was produced, manufactured or
processed in, or exported from; or (ii) has not been
produced through a blending process that uses
product or components that have been produced,
manufactured or processed in, or exported from,
in each case, the Russia Federation or Crimea, the
Donetsk People’s Republic or the Luhansk People’s
Republic in Ukraine.)
Platts HSFO 380CST: FOB Straits: BP bids MOPS
+0.00 Aug 3-7 20kt (Seller represents and warrants
that, to the best of its knowledge, the cargo delivered
under this Contract: (i) does not contain any product
that was produced, manufactured or processed in, or
exported from; or (ii) has not been produced through
a blending process that uses product or components
that have been produced, manufactured or processed
in, or exported from, in each case, the Russia
Federation or Crimea, the Donetsk People’s Republic or
the Luhansk People’s Republic in Ukraine.)
Platts HSFO 380CST: FOB Straits: P66 bids MOPS
+3.00 Aug 1-5 40kt OR
Platts HSFO 380CST: FOB Straits: P66 bids MOPS
+4.00 Aug 6-10 40kt
Offers: PLATTS HSFO: PHYSICAL OFFERS FINALS
ON CLOSE (180 CST):
Platts HSFO 180CST: FOB FSU: SA Crystal/SA
Equatorial: Gunvor offers MOPS +5.00 Jul 27-31 20kt
OR (Seller represents and warrants that the cargo
delivered/to be delivered under this Contract: (i)
© 2024 by S&P Global Inc. All rights reserved. 17
does not contain any product that was produced,
manufactured or processed in, or exported from;
or (ii) has not been produced through a blending
process that uses product or components that have
been produced, manufactured or processed in, or
exported from, in each case, the Russia Federation or
Crimea, the Donetsk People’s Republic or the Luhansk
People’s Republic in Ukraine. Seller shall provide,
upon request, documentary evidence of compliance
showing the origin(s) of the cargo, to Buyer’s
reasonable satisfaction.)
Platts HSFO 180CST: FOB FSU: SA Crystal/
SA Equatorial: Gunvor offers MOPS +5.00 Aug 1-5
20kt (Seller represents and warrants that the cargo
delivered/to be delivered under this Contract: (i)
does not contain any product that was produced,
manufactured or processed in, or exported from; or (ii)
has not been produced through a blending process that
uses product or components that have been produced,
manufactured or processed in, or exported from, in each
case, the Russia Federation or Crimea, the Donetsk
People’s Republic or the Luhansk People’s Republic in
Ukraine. Seller shall provide, upon request, documentary
evidence of compliance showing the origin(s) of the
cargo, to Buyer’s reasonable satisfaction.)
PLATTS HSFO: PHYSICAL OFFERS FINALS ON
CLOSE (380 CST):
Platts HSFO 380CST: FOB Straits: BP offers MOPS
+12.00 Jul 27-31 20kt BP GTC OR (Seller represents and
warrants that, to the best of its knowledge, the cargo
delivered under this Contract: (i) does not contain
any product that was produced, manufactured or
processed in, or exported from; or (ii) has not been
produced through a blending process that uses
product or components that have been produced,
manufactured or processed in, or exported from,
in each case, the Russia Federation or Crimea, the
Donetsk People’s Republic or the Luhansk People’s
Republic in Ukraine.)
Platts HSFO 380CST: FOB Straits: BP offers MOPS
+12.00 Jul 30-Aug 3 20kt BP GTC OR (Seller represents
and warrants that, to the best of its knowledge, the cargo
delivered under this Contract: (i) does not contain any
product that was produced, manufactured or processed
in, or exported from; or (ii) has not been produced
through a blending process that uses product or
components that have been produced, manufactured or
processed in, or exported from, in each case, the Russia
Federation or Crimea, the Donetsk People’s Republic or
the Luhansk People’s Republic in Ukraine.)
Platts HSFO 380CST: FOB Straits: BP offers MOPS
+12.00 Aug 3-7 20kt BP GTC (Seller represents and
warrants that, to the best of its knowledge, the cargo
delivered under this Contract: (i) does not contain
any product that was produced, manufactured or
processed in, or exported from; or (ii) has not been
produced through a blending process that uses
product or components that have been produced,
manufactured or processed in, or exported from,
in each case, the Russia Federation or Crimea, the
Donetsk People’s Republic or the Luhansk People’s
Republic in Ukraine.)
Platts HSFO 380CST: FOB Straits: Shell offers MOPS
+12.00 Jul 27-31 20kt Shell GTC OR (It is a condition of
this agreement that the products sold and delivered
by Seller will not be of Russian Federation (RF) origin
(which includes product exported from RF) nor
blended with any RF origin product. Seller can provide
if requested documentary evidence of compliance,
showing refinery origin(s) of the cargo, to the Buyer’s
reasonable satisfaction.)
Platts HSFO 380CST: FOB Straits: Shell offers MOPS
+12.00 Aug 4-8 20kt Shell GTC (It is a condition of this
agreement that the products sold and delivered by
Seller will not be of Russian Federation (RF) origin
(which includes product exported from RF) nor
blended with any RF origin product. Seller can provide
if requested documentary evidence of compliance,
Asia-Pacific/Arab Gulf Marketscan July 12, 2024
showing refinery origin(s) of the cargo, to the Buyer’s
reasonable satisfaction.)
Platts HSFO 380CST: FOB Straits: Rex Commodities
offers MOPS +12.00 Jul 27-31 40kt (It is a condition
of this offer/agreement that the products sold and
delivered by Seller will not be of Russian Federation
(RF) origin (which includes product exported from
RF) nor blended with any RF origin product. Seller
can provide if requested documentary evidence of
compliance, showing refinery origin(s) of the cargo, to
the Buyer’s reasonable satisfaction.)
Trades: No trade
Platts Bitumen: PHYSICAL BIDS FINALS ON CLOSE:
FOB STRAITS:
Platts Bitumen: FOB Straits: PEN 60-70: 3kt: Jul 27-
Aug 31: Trafigura bids $470.00/mt INCO
Platts Bitumen: FOB Straits: PEN 60-70: 3kt: Aug
7-11: Trafigura bids $470.00/mt INCO
Platts Bitumen: PHYSICAL OFFERS FINALS ON
CLOSE: FOB STRAITS: No offers
Platts Bitumen Trade Summary: FOB STRAITS:
No trade
Platts Bitumen: PHYSICAL BIDS FINALS ON CLOSE:
FOB SOUTH KOREA: No bids
Platts Bitumen: PHYSICAL OFFERS FINALS ON
CLOSE: FOB SOUTH KOREA: No offers
Platts Bitumen: TRADE SUMMARY: FOB SOUTH
KOREA: No trade
This assessment commentary applies to the
following market data codes: FO 180 CST 2.0%
<PUAXS00> FO 180 CST 3.5% <PUADV00> FO 380 CST
3.5% <PPXDK00>
Platts US West Coast Light End Daily
Commentary
„ San Francisco CARBOB differentials narrow
„ Los Angeles and San Francisco under heat wave
warnings
© 2024 by S&P Global Inc. All rights reserved. 18
On the West Coast, San Francisco CARBOB gasoline
differentials narrowed July 12 amid a bullish NYMEX
August RBOB futures contract.
The San Francisco CARBOB gasoline differentials
fell 2 cents to NYMEX August RBOB futures minus 11
cents/gal for regular and futures plus 1 cent/gal for
premium CARBOB amid a lack of market interest. The
outright price also narrowed 2.25 cents to close at
$2.4053/gal and $2.5253/gal respectively.
Amid the falling prices, heat wave warnings
were issued in California and San Francisco, with
an excessive heat warning issued for Palmdale in
California. According to the National Weather Service,
the heatwave could cause elevated to critical fire
weather conditions, leading to rapid fire growth and
extreme fire behavior in the area.
In Los Angeles, the differentials for LA CARBOB
fell to futures minus 13 cents/gal, and futures minus
1 cent/gal for CARBOB premium. The outright price
narrowed 1.25 cents for CARBOB regular and premium
to close at $2.3853/gal and $2.5053/gal, respectively.
The Arizona AZRBOB premium gasoline differentials
rose 5 cents to futures plus 9 cents/gal for premium
grade. The outright price rose 4.75 cents to close at
$2.6053/gal.
Platts is part of S&P Global Commodity Insights.
Platts Middle East Sour Crude Daily Market
Analysis
„ Pakistan’s PRL seeks sour crude for Sep delivery
„ PetroChina set to receive second TMX cargo
The Asian sour crude complex saw the issuance of
one buy tender July 12 amid thin trading activity as the
week inched toward a close.
Pakistan’s PRL issued a buy tender which closes
July 18, with same-day validity, seeking at least 530,000
barrels of Das Blend crude and/or Umm Lulu crude for
September delivery into Keamari, Karachi.
A South Korean refiner was heard to have bought
Das Blend and Murban crude, though further details
could not be ascertained.
Meanwhile, market participants continue to await
further cues from the results of QatarEnergy’s monthly
sell tender for its staple grades, which closes on July
15, with next-day validity.
Platts assessed the front-month Dubai cash-futures
spread at a premium of $1.74/b on July 11, inching up
5 cents/b or 3.20% from a month-to-date average of
$1.69/b, S&P Global Commodity Insights data showed.
Iraq’s SOMO was heard to have issue its allocations
late July 11, with estimates around 13 million
destination-free basrah cargoes for August.
An Asian refiner said that valuations for Asia-bound
cargoes were lower compared with previous month,
attributing to the possibility of an increase in inflows of
TMX cargoes.
Additionally, trade sources noted that trading
activity for September-arrival cargoes of Far East
Russia’s ESPO Blend crude to China has yet to begin,
with valuations heard at discounts of around 70
cents/b to November ICE Brent, DES Shandong.
Elsewhere, PetroChina is going to receive its second
cargo of Canadian heavy crude transferred via the
Trans Mountain Expansion pipeline in late July to lower
feedstock costs, sources with knowledge of the matter
told Commodity Insights July 11.
The Chinese state-owned oil giant discharged July
9 its first cargo consisting of 550,000 barrels of AWB
to its 240,000 b/d Guangxi Petrochemical in southern
China’s Guangxi province. The cargo was considered to
be PetroChina’s most competitive feedstock taken in
the month, Guangxi Petrochemical said on its WeChat
platform July 10.
“CFR price of the AWB cargo was about $2/b lower
than that of the regular Middle Eastern grades, saving
around Yuan 8.7 million ($1.2 million),” the refinery said.
Asia-Pacific/Arab Gulf Marketscan July 12, 2024
PetroChina — China’s sole shareholder in the
Canadian TMX pipeline — was first heard purchasing
two Aframax cargoes of the high TAN, heavy sour
Canadian crude grade in late March at discounts of
$4s/b to August ICE Brent futures on a delivered basis,
Commodity Insights reported previously.
“Due to the heavy density, it will take us about two
months to process the AWB crude, by mixing with other
crudes,” said a source with Guangxi Petrochemical,
adding that the refinery was not going take any
cargoes from the TMX in the coming months.
Platts is part of S&P Global Commodity Insights.
Platts Mideast Sour Crude Daily Rationales &
Exclusions
Dubai Mo01 <PCAAT00> assessment rationale: The
September cash Dubai assessment July 12 took into
consideration bids and offers for cash Dubai partials
that traded at $85.64-$85.65/b toward the end of the
Platts Market on Close assessment process, with a bid
at $85.64/b that traded and offers at $85.65/b that
were withdrawn shortly after the close of the MOC.
Oman Blend Mo01 <PCABS00> assessment
rationale: The September cash Oman assessment July
12 took into consideration values heard in the broader
market and Oman’s notional spread to cash Dubai.
Exclusions: No market data was excluded from the
Middle East sour crude Market on Close assessment
process.
Platts Oil Mideast Sour Crude
Convergences
None reported.
Platts Middle East Sour Crude Bids, Offers,
Trades
Bids:
PLATTS DUBAI: SEP24: PETROCHINA BIDS 25KB AT
© 2024 by S&P Global Inc. All rights reserved. 19
$85.64 AND TRADES DURING EXTENSION
PLATTS DUBAI: SEP24: GLENCORE BIDS 25KB AT
$85.60 AND WITHDRAWS DURING EXTENSION
PLATTS DUBAI: SEP24: TRAFIGURA BIDS 25KB
AT $85.55
PLATTS DUBAI: SEP24: TOTAL BIDS 25KB AT $85.55
PLATTS DUBAI: SEP24: KOCH BIDS 25KB AT $85.55
PLATTS DUBAI: SEP24: VITOL BIDS 25KB AT $85.50
PLATTS DUBAI: SEP24: BP BIDS 25KB AT $85.45
PLATTS DUBAI: SEP24: PHILLIPS 66 BIDS 25KB
AT $85.40
PLATTS DUBAI: SEP24: SHELL NO LONGER BIDS
AFTER TRADE
PLATTS DUBAI: SEP24: GUNVOR NO LONGER BIDS
AFTER TRADE
PLATTS DUBAI: SEP24: MITSUI NO LONGER BIDS
AFTER TRADE
Offers:
PLATTS DUBAI: SEP24: EXXONMOBIL OFFERS 25KB
AT $85.65 AND WITHDRAWS DURING EXTENSION
PLATTS DUBAI: SEP24: HENGLI OFFERS 25KB AT
$85.65 AND WITHDRAWS DURING EXTENSION
PLATTS DUBAI: SEP24: UNIPEC OFFERS 25KB
AT $85.80
PLATTS DUBAI: SEP24: KOCH OFFERS 25KB
AT $85.90
PLATTS DUBAI: SEP24: PHILLIPS 66 OFFERS 25KB
AT $86.00
PLATTS DUBAI: SEP24: GLENCORE OFFERS 25KB
AT $86.20
PLATTS DUBAI: SEP24: GUNVOR OFFERS 25KB
AT $86.20
PLATTS DUBAI: SEP24: TOTAL OFFERS 25KB
AT $86.20
PLATTS DUBAI: SEP24: VITOL NO LONGER OFFERS
AFTER TRADE
PLATTS DUBAI: SEP24: BP NO LONGER OFFERS
AFTER TRADE
PLATTS DUBAI: SEP24: RELIANCE NO LONGER
OFFERS AFTER TRADE
Trades:
PLATTS DUBAI: SEP24: GUNVOR BUYS FROM
EXXONMOBIL* 25KB AT $85.65 (08:29:09)
PLATTS DUBAI: SEP24: EXXONMOBIL SELLS TO
SHELL* 25KB AT $85.64 (08:29:13)
PLATTS DUBAI: SEP24: PHILLIPS 66 SELLS TO
PETROCHINA* 25KB AT $85.64 (08:29:15)
PLATTS DUBAI: SEP24: EXXONMOBIL SELLS TO
GUNVOR* 25KB AT $85.60 (08:29:16)
PLATTS DUBAI: SEP24: PETROCHINA BUYS FROM
VITOL* 25KB AT $85.65 (08:29:18)
PLATTS DUBAI: SEP24: VITOL SELLS TO SHELL*
25KB AT $85.64 (08:29:18)
PLATTS DUBAI: SEP24: PETROCHINA BUYS FROM
EXXONMOBIL* 25KB AT $85.65 (08:29:20)
PLATTS DUBAI: SEP24: PETROCHINA BUYS FROM
HENGLI* 25KB AT $85.65 (08:29:21)
PLATTS DUBAI: SEP24: VITOL SELLS TO SHELL*
25KB AT $85.64 (08:29:22)
PLATTS DUBAI: SEP24: EXXONMOBIL SELLS TO
PETROCHINA* 25KB AT $85.64 (08:29:22)
PLATTS DUBAI: SEP24: PETROCHINA BUYS FROM
EXXONMOBIL* 25KB AT $85.65 (08:29:25)
PLATTS DUBAI: SEP24: VITOL SELLS TO SHELL*
25KB AT $85.64 (08:29:27)
PLATTS DUBAI: SEP24: EXXONMOBIL SELLS TO
GLENCORE* 25KB AT $85.60 (08:29:27)
PLATTS DUBAI: SEP24: VITOL SELLS TO
PETROCHINA* 25KB AT $85.64 (08:29:31)
PLATTS DUBAI: SEP24: EXXONMOBIL SELLS TO
MITSUI* 25KB AT $85.60 (08:29:31)
PLATTS DUBAI: SEP24: RELIANCE SELLS TO
GUNVOR* 25KB AT $85.60 (08:29:32)
PLATTS DUBAI: SEP24: PETROCHINA BUYS FROM
BP* 25KB AT $85.65 (08:29:32)
PLATTS DUBAI: SEP24: PHILLIPS 66 SELLS TO
SHELL* 25KB AT $85.64 (08:29:33)
PLATTS DUBAI: SEP24: PETROCHINA BUYS FROM
HENGLI* 25KB AT $85.65 (08:29:34)
Asia-Pacific/Arab Gulf Marketscan July 12, 2024
PLATTS DUBAI: SEP24: PETROCHINA BUYS FROM
EXXONMOBIL* 25KB AT $85.65 (08:29:38)
PLATTS DUBAI: SEP24: EXXONMOBIL SELLS TO
PETROCHINA* 25KB AT $85.64 (08:29:42)
PLATTS DUBAI: SEP24: PETROCHINA BUYS FROM
RELIANCE* 25KB AT $85.65 (08:29:46)
PLATTS DUBAI: SEP24: VITOL SELLS TO
PETROCHINA* 25KB AT $85.64 (08:29:48)
PLATTS DUBAI: SEP24: EXXONMOBIL SELLS TO
GUNVOR* 25KB AT $85.60 (08:29:49)
PLATTS DUBAI: SEP24: PETROCHINA BUYS FROM
BP* 25KB AT $85.65 (08:29:49)
PLATTS DUBAI: SEP24: PETROCHINA BUYS FROM
HENGLI* 25KB AT $85.65 (08:29:51)
PLATTS DUBAI: SEP24: EXXONMOBIL SELLS TO
PETROCHINA* 25KB AT $85.64 (08:29:52)
PLATTS DUBAI: SEP24: PETROCHINA BUYS FROM
EXXONMOBIL* 25KB AT $85.65 (08:29:54)
PLATTS DUBAI: SEP24: VITOL SELLS TO
PETROCHINA* 25KB AT $85.64 (08:29:56)
PLATTS DUBAI: SEP24: EXXONMOBIL SELLS TO
GUNVOR* 25KB AT $85.60 (08:29:57)
PLATTS DUBAI: SEP24: SHELL BUYS FROM
RELIANCE* 25KB AT $85.65 (08:29:58)
PLATTS DUBAI: SEP24: PETROCHINA BUYS FROM
BP* 25KB AT $85.65 (08:29:58)
PLATTS DUBAI: SEP24: EXXONMOBIL SELLS TO
PETROCHINA* 25KB AT $85.64 (08:30:01)
This assessment commentary applies to the
following market data codes: Dubai M1 <PCAAT00>,
Oman M1 <PCABS00>
Platts Asia Pacific Sweet Crude Daily
Market Analysis
„ PetroVietnam Oil issues third spot tender in July
„ Condensate market sentiment strengthens
Activity in the Asia-Pacific sweet crude market was
lackluster July 12.
© 2024 by S&P Global Inc. All rights reserved.
PetroVietnam Oil issued its third spot tender for the
month, offering 300,000 barrels of medium sweet Sao
Vang and Dai Nguyet crude loading over Sept. 22-28.
The tender closes July 16, with validity until July 17,
market sources said.
Previously, PV Oil awarded its tender offering
300,000 barrels of medium sweet Sao Vang and Dai
Nguyet crudes loading over July 23-29 to Thailand’s
PTT at a premium in the $1s/b to Platts Dated Brent
crude assessments, FOB.
In the condensate market, a strengthening heavy
naphtha complex was expected to lend support to
price differentials for September-loading condensates.
“Heavier naphtha for splitter use is very strong
partly because of the Russian naphtha investigation
in [South] Korea. People now are avoiding Russian
naphtha altogether, so it’s a bit of a push for other
barrels — that’s why heavier naphtha is quite strong
even though naphtha cracks are not so good,” a trader
familiar with the matter said.
The second-month naphtha crack spread against
Dubai swaps averaged minus $11.19/b as of the July 12
Asian close, compared with the June average of minus
$11.74/b, Platts data showed.
With an overhang of July- and August-loading
condensate-grade barrels fully cleared, the trader said
that this may lead to optimism for condensates.
“A month ago, we saw a lot of July overhang barrels.
I think everything is gone already, July and August
[barrels] are all gone,” the crude trader said.
July-loading barrels of Australia’s Wheatstone
condensate were heard traded at a discount in the
$4s/b to $5/b to Dated Brent on a delivered basis to
South Korea, according to market sources.
September-loading North West Shelf condensate
valuations were heard at discounts in the $7s/b to
Dated Brent on an FOB basis, up from prior valuations
at Dated Brent in the minus $8s/b to minus $9s/b.
In the delivered crude market, some trading activity
was heard for WTL, with Equinor selling 1 million
20
October-delivery barrels of the grade to GS Caltex at
a premium in the low $4s to September Dubai, DES
Korea basis.
Meanwhile, October-delivery barrels of WTI Midland
to South Korea were also heard valued at premiums in
the $4s/b to September Dubai, market sources said.
Platts is part of S&P Global Commodity Insights.
Platts Asia Light Sweet Crude Daily Rationale &
Exclusions
ESPO FOB Kozmino Mo01 Spore vs Dubai Mo01
<AASEU00> assessment rationale: The ESPO M1
September assessment July 12 took into consideration
the latest trade indications heard in the broader
market.
Exclusions: No market data was excluded from
the Asia Pacific Crude Market on Close assessment
process.
Platts Asia Light Sweet Crude Bids, Offers,
Trades
Bids: NIL
Offers: NIL
Trades: NIL
This assessment commentary applies to the
following market data code: ESPO M1 vs Dubai M2
<AASEU00>
Subscriber Notes
Platts proposes launching East China propane,
butane physical assessments from Oct 1
Platts, part of S&P Global Commodity Insights, is
proposing to launch propane and butane physical
assessments on a CFR East China basis from Oct. 1,
2024, amid an increase in LPG inflows into the region.
Platts is proposing to publish four new daily CFR
East China LPG physical assessments and their
Asia-Pacific/Arab Gulf Marketscan July 12, 2024
respective monthly averages. The four new daily
assessments would include assessments for propane
and butane cargoes with a minimum size of 11,000 mt
and a maximum size of 44,000 mt, for delivery 20-35
days forward, on an outright basis as well as their cash
differentials to the front-month Saudi Aramco Contract
Price (M1) derivatives.
DISCHARGE PORTS: The proposed assessments
would reflect cargoes delivered into Ningbo. Deliveries
into other safe and sound ports in Zhejiang and
Jiangsu provinces of East China may be considered
for inclusion in the assessments, normalized to a
Ningbo basis.
PRODUCT SPECIFICATIONS: The CFR East China
propane and butane assessments would reflect
the existing Platts North Asia propane and butane
specifications. For full details of the specification,
please see http://plts.co/V0Ax30ru2Yi.
TIMESTAMP: The proposed CFR East China propane
and butane assessments would reflect the tradable
value of these products at the end of the Platts Asia
physical LPG Market on Close assessment process
at 5 pm Singapore time (0900 GMT). In the absence
of any bids, offers or trades in the MOC, information
heard in over-the-counter markets may be taken into
consideration.
Platts has established clearly defined timing
guidelines and standards of incrementability that
apply when publishing bids and offers during the MOC
process in order to ensure an orderly and transparent
price assessment process. Details can be found in this
guide: https://www.spglobal.com/commodityinsights/
PlattsContent/_assets/_files/en/our-methodology/
methodology-specifications/oil-timing-increment-
guidelines.pdf.
Please send comments and questions
to asia_products@spglobal.com and
pricegroup@spglobal.com by Aug. 30, 2024. For
written comments, please provide a clear indication if
© 2024 by S&P Global Inc. All rights reserved. 21
comments are not intended for publication by Platts
for public viewing. Platts will consider all comments
received and will make comments not marked as
confidential available upon request.
Platts proposes to launch North Asia propane
derivatives assessments
Platts, part of S&P Global Commodity Insights, is
proposing to launch a series of price assessments
reflecting North Asia propane derivatives, inter-regional
propane derivatives and inter-product derivative
spreads from Oct. 1, 2024.
Platts is proposing to publish Month 1, Month
2, Month 3, and front-quarter North Asia propane
derivative assessments, along with North Asia
propane/Saudi Aramco Contract Price propane
derivative spreads and North Asia propane/Mean of
Platts Japan naphtha derivative spreads on the same
forward strip.
TIMESTAMP: The North Asia propane derivatives
assessments and the North Asia propane/Saudi Aramco
CP propane derivative spreads would reflect the close
of Asia LPG trading at 5:00 pm Singapore time (0900
GMT). The North Asia propane/MOPJ naphtha derivative
spreads would be calculated from the corresponding
Platts assessments at their respective close.
VOLUME: The new propane outright assessments
and derivative spreads would reflect a tradeable clip
size of 5,000 mt.
The proposed North Asia propane derivatives
assessments would be based on bids, offers, or
trades seen during the Platts Market on the Close
assessment process. In the absence of any bids, offers
or trades in the MOC, information from derivative
exchanges or heard in over-the-counter markets may
be taken into consideration.
Platts has established clearly defined timing
guidelines and standards of incrementability that
apply when publishing bids and offers during the MOC
process in order to ensure an orderly and transparent
price assessment process. Details can be found in this
guide: https://www.spglobal.com/commodityinsights/
PlattsContent/_assets/_files/en/our-methodology/
methodology-specifications/oil-timing-increment-
guidelines.pdf.
Please send comments and questions
to asia_products@spglobal.com and
pricegroup@spglobal.com by Aug. 30, 2024. For
written comments, please provide a clear indication if
comments are not intended for publication by Platts
for public viewing. Platts will consider all comments
received and will make comments not marked as
confidential available upon request.
Platts adds 100 kb, 150 kb eWindow instruments to
FOB Singapore RON 95, RON 97 gasoline MOC
Platts, part of S&P Global Commodity Insights, has
launched new eWindow instruments for 100,000-barrel
and 150,000-barrel cargoes in its FOB Singapore RON
95 and RON 97 gasoline Market on Close assessment
process, effective July 1.
Previously, Platts published bids, offers and trades
for 50,000-barrel cargoes in the FOB Singapore RON
95 and RON 97 gasoline MOC via eWindow, while price
information reflecting larger clip sizes was published
as manual headlines on Platts Global Alert page 190.
From July 1, market participants are able to submit
bids and offers for cargo sizes of 100,000 barrels and
150,000 barrels in the FOB Singapore RON 95 and
RON 97 gasoline MOC for publication directly via the
eWindow communication tool or do so through an
editor who would then publish the information using
the software.
The Platts assessments for FOB Singapore RON
92, RON 95 and RON 97 gasoline reflect the value
of cargoes of a minimum of 50,000 barrels and a
maximum of 150,000 barrels each for loading 15-30
days forward from the date of publication.
Asia-Pacific/Arab Gulf Marketscan July 12, 2024

Platts first proposed adding the new eWindow
instruments in a subscriber note published May 13:
https://www.spglobal.com/commodityinsights/en/
our-methodology/subscriber-notes/051324-platts-
to-add-100-kb-150-kb-ewindow-instruments-to-fob-
singapore-ron-95-ron-97-gasoline-moc.
All bids and offers for 100,000-barrel and
150,000-barrel cargoes can be submitted either on
a flat price or a floating price basis on eWindow.
Counterparties can only trade the different cargo
sizes in their entirety and not in partial clips. Bids and
offers of different cargo sizes will not be matched
the Asia-Pacific and Middle East refined oil products
specifications guide available here: https://www.
spglobal.com/commodityinsights/PlattsContent/_
assets/_files/en/our-methodology/methodology-
specifications/asia-refined-oil-products-
methodology.pdf.
Please send any questions or comments
to asia_products@spglobal.com and
PriceGroup@spglobal.com.
For written comments, please provide a clear
indication if they are not intended for publication
by Platts for public viewing. Platts will consider all
In the absence of any observable activity for
MOPAG refined product derivatives on the day, Platts
will take into consideration the Japan derivatives for
naphtha and the respective Singapore derivatives for
gasoline, kerosene, gasoil and fuel oil, coupled with
freight netback and forward freight agreement values.
The assessment symbols are as follows:
Description Symbol
FO 380 CST 3.5% FOB Arab Gulf Cargo Brent Crack
FOMOC01
At Spore MOC Financial Mo01
FO 380 CST 3.5% FOB Arab Gulf Cargo Brent Crack
FOMOC02
At Spore MOC Financial Mo02
FO 380 CST 3.5% FOB Arab Gulf Cargo Dubai Crack
Financial Mo01
FOCST01

automatically on eWindow, even when the price and
other parameters are the same.
For example, an offer for 50,000 barrels of RON 95
gasoline will not match a bid for a 100,000-barrel cargo
of RON 95 gasoline, even if both orders are for cargoes
loading over the same laycan and at the same price.
Platts has established clearly defined timing
guidelines and standards of incrementability that apply
when publishing bids and offers in the MOC in order to
ensure an orderly and transparent price assessment
comments received and will make those not marked as FO 380 CST 3.5% FOB Arab Gulf Cargo Dubai Crack
FOCST02
Financial Mo02
confidential available to the public upon request. Gasoil FOB Arab Gulf Cargo Brent Crack at Spore
GACBC01
MOC Financial Mo01
Platts launches Arab Gulf financial derivative crack Gasoil FOB Arab Gulf Cargo Brent Crack at Spore
GACBC02
MOC Financial Mo02
values July 1 Gasoil FOB Arab Gulf Cargo Dubai Crack Financial
GAFOB01
Platts, part of S&P Global Commodity Insights, Mo01
Gasoil FOB Arab Gulf Cargo Dubai Crack Financial
has begun publishing the values of financially settled Mo02
GAFOB02
product crack derivative contracts for the Arab Gulf Gasoline 92 RON FOB Arab Gulf Brent Crack at
GAMOC01
Spore MOC Financial Mo01
refined products against the Dubai and Brent financial Gasoline 92 RON FOB Arab Gulf Brent Crack at
contracts, respectively, as of July 1. Spore MOC Financial Mo02
GAMOC02

process, which can be found here: https://www.
spglobal.com/commodityinsights/PlattsContent/_
assets/_files/en/our-methodology/methodology-
specifications/oil-timing-increment-guidelines.pdf.
Platts has separately opened a consultation
process June 13 to review the methodology for its
gasoline cargo assessments for FOB Singapore RON
Platts has started publishing crack derivative values Gasoline 92 RON FOB Arab Gulf Dubai Crack
GARON01
Financial Mo01
for the first two months — Month 1 and Month 2 — for Gasoline 92 RON FOB Arab Gulf Dubai Crack
GARON02
the following MOPAG products: Naphtha, Gasoline 95, Financial Mo02
Gasoline 95 RON FOB Arab Gulf Brent Crack at
Gasoline 92, Kerosene, Gasoil and HSFO380 CST, and Spore MOC Financial Mo01
GSMOC01
for the following MOPFUJ product: 0.5% Marine Fuel. Gasoline 95 RON FOB Arab Gulf Brent Crack at
GSMOC02
These crack derivative values will be calculated Spore MOC Financial Mo02
Gasoline 95 RON FOB Arab Gulf Dubai Crack
from the existing Platts assessments for the respective Financial Mo01
GSRON01

92, RON 95 and RON 97. Specifically, Platts is inviting
feedback on the existing methodology for gasoline clip
sizes, reflected in light of recent changes in regional
trade flows. Details of the ongoing consultation, which
ends Aug. 23, can be found here: https://www.spglobal.
com/commodityinsights/en/our-methodology/
subscriber-notes/061324-platts-opens-consultation-
MOPAG and MOPFUJ refined products and crude Gasoline 95 RON FOB Arab Gulf Dubai Crack
GSRON02
Financial Mo02
derivatives at the close of Asian trade at 4:30 pm Jet Kero FOB Arab Gulf Cargo Brent Crack at Spore
JKMOC01
Singapore time (0830 GMT). MOC Financial Mo01
Jet Kero FOB Arab Gulf Cargo Brent Crack at Spore
The underlying MOPAG and MOPFUJ refined JKMOC02
MOC Financial Mo02
product derivatives are assessed based on bids, Jet Kero FOB Arab Gulf Cargo Dubai Crack Financial
JKFOB01
offers or trades seen in the Platts Market on Close Mo01
Jet Kero FOB Arab Gulf Cargo Dubai Crack Financial
assessment process. In the absence of any bids, offers Mo02
JKFOB02

on-fob-singapore-gasoline-clip-sizes. or trades in the MOC, information seen on derivatives Marine Fuel 0.5% FOB Fujairah Cargo Brent Crack
MFMOC01
At Spore MOC Financial Mo01
Full information relevant to the Platts FOB exchanges or heard in over-the-counter markets may Marine Fuel 0.5% FOB Fujairah Cargo Brent Crack
MFMOC02
Singapore gasoline assessments can be found in be taken into consideration. At Spore MOC Financial Mo02

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

Asia-Pacific/Arab Gulf Marketscan July 12, 2024
Marine Fuel 0.5% FOB Fujairah Cargo Dubai Crack
Financial Mo01
MFFOB01
Marine Fuel 0.5% FOB Fujairah Cargo Dubai Crack
MFFOB02
Financial Mo02
Naphtha FOB Arab Gulf Cargo Brent Crack at Spore
MOC Financial Mo01
NAMOC01
Naphtha FOB Arab Gulf Cargo Brent Crack at Spore
NAMOC02
MOC Financial Mo02
Naphtha FOB Arab Gulf Cargo Dubai Crack
NAFOB01
Financial Mo01
Naphtha FOB Arab Gulf Cargo Dubai Crack
Financial Mo02
NAFOB02
The new assessments are available on Platts
Refined (PRF) and Platts Global Alert (PGA) page 2029.
Please send any further feedback, comments
and queries to asia_products@spglobal.com and
pricegroup@spglobal.com.
For written comments, please provide a clear
indication if they are not intended for publication
by Platts for public viewing. Platts will consider all
comments received and will make those not marked as
confidential available upon request.
Platts to launch West Japan delivered 0.5%S marine
fuel bunker assessment
Platts, part of S&P Global Commodity Insights, will
launch the West Japan delivered 0.5% sulfur marine
fuel bunker assessment, effective Aug. 1.
Platts first proposed launching the assessment in a
subscriber note published June 3.
The assessment will reflect parcel sizes between
500 mt and 1,500 mt for delivery 5-10 days forward
from the date of publication.
The West Japan assessment will reflect deliveries
in Setouchi (which includes Mizushima and Fukuyama
ports), Kyushu (Oita port) and Hanshin areas (Kobe and
Osaka ports). Activity in other ports will be normalized
to Setouchi after taking into account barging costs.
In line with Platts cargo assessments, the West
Japan delivered bunker assessment will reflect
specifications for RMG fuels as defined by the
International Organization for Standardization in
© 2024 by S&P Global Inc. All rights reserved. 23
document ISO 8217:2010 Petroleum products — Fuels
(class F) — specifications of marine fuels, but with a
maximum sulfur limit of 0.5% and a minimum viscosity
of 30 CST at 50 degrees Celsius.
Buyers and sellers participating in the Platts Market
on Close assessment process will be required to
specify three consecutive days for delivery within the
assessment laycan and may submit bids and offers for
the following volume range: 500-600 mt, 600-700 mt,
700-800 mt, 800-900 mt, 900-1,000 mt, 1,000-1,200
mt, 1,100-1,300 mt, 1,200-1,400 mt and 1,300-1,500 mt.
Buyers must declare the exact volume to the seller
within one working day after the trade has been
concluded.
The assessment will be published in US $/mt,
reflecting market value at the close of Asian trade
at 5:30 pm Singapore time, and follow the Singapore
publishing schedule.
The assessment will be available on Platts Bunker
Alert page 2850, Platts Shipping Alert page 210 and
published in Platts Bunkerwire.
Please send all comments and questions
to asia_products@spglobal.com and
PriceGroup@spglobal.com.
For written comments, please provide a clear
indication if they are not intended for publication
by Platts for public viewing. Platts will consider all
comments received and will make those not marked as
confidential available upon request.
Platts opens consultation on FOB Singapore gasoline
clip sizes
Platts, part of S&P Global Commodity Insights,
is opening a consultation process to review the
methodology for its gasoline cargo assessments for
RON 92, RON 95 and RON 97, which are published on
an FOB Singapore basis.
Specifically, Platts is inviting feedback on the
existing methodology for gasoline clip sizes reflected in
light of recent changes in regional trade flows.
Platts assessments for FOB Singapore RON 92,
RON 95 and RON 97 gasoline currently reflect the
value of cargoes of a minimum of 50,000 barrels and
a maximum of 150,000 barrels each for loading 15-30
days forward from the date of publication.
Currently, Platts publishes bids, offers and trades
for 50,000-barrel to 150,000-barrel cargoes in the FOB
Singapore RON 92, RON 95 and RON 97 gasoline MOC
via eWindow, while price information reflecting larger
clip sizes for RON 95 and RON 97 are published as
manual headlines on Platts Global Alert page 190.
Details of the gasoline assessment methodology
can be found at: http://plts.co/N5hJ30qCT0D.
Platts understands that more regional gasoline
buyers are now seeking larger gasoline clip sizes of
100,000 barrels or more on FOB Singapore, Malaysia
and Indonesia basis. Rising freight costs due to higher
freight rates for coastal tankers, and an aging coastal
tanker fleet for gasoline, mean that the marginal clip
size in the market is no longer reflecting 50,000 barrels.
Platts is therefore reviewing feedback on a range of
possible changes, including but not limited to:
a. Raising the gasoline clip range for RON 92
cargoes to a minimum of 100,000 barrels and a
maximum of 200,000 barrels and maintaining the RON
95 and RON 97 clip range at a minimum of 50,000
barrels and a maximum of 150,000 barrels;
b. Raising the gasoline clip range for RON 92, RON
95, RON 97 cargoes to minimum of 100,000 barrels and
a maximum of 200,000 barrels;
c. Maintaining the RON 92, RON 95 and RON 97 clip
range at a minimum of 50,000 barrels and a maximum
of 150,000 barrels, but reflect clips of 100,000 barrels
as standard.
In addition to potential amendments to the clip
size reflected in its methodology, Platts is also inviting
feedback on suitable timelines for any changes to
take effect.
Asia-Pacific/Arab Gulf Marketscan July 12, 2024
The following FOB Singapore assessments,
published in Asia-Pacific/Arab Gulf Market Scan and
Platts Global Alert pages 2304 and 2310 are under
review as part of this market consultation:
Assessment Code
Gasoline Unl 97 FOB Spore Cargo PGAMS00
Gasoline Unl 95 FOB Spore Cargo PGAEZ00
Gasoline Unl 92 FOB Spore Cargo PGAEY00
Related to the above consultation on gasoline clip
sizes, Platts announced in a separate subscriber note
on May 13 that it will launch new eWindow instruments
for 100,000-barrel and 150,000-barrel cargoes in its
FOB Singapore RON 95 and RON 97 gasoline MOC
assessment process, effective July 1, found here: Platts
to add 100 kb, 150 kb eWindow instruments to FOB
Singapore RON 95, RON 97 gasoline MOC | S&P Global
Commodity Insights (spglobal.com).
Please send all feedback and comments by
Aug. 23, 2024 to asia_products@spglobal.com and
PriceGroup@spglobal.com.
For written comments, please provide a clear
indication if comments are not intended for publication
by Platts for public viewing. Platts will consider all
comments received and will make comments not
marked as confidential available upon request.
Platts to include Infineum’s R654 additive in
Singapore gasoil
Following a continued review of recognized
additives reflected in its FOB Singapore gasoil
assessments, Platts, part of S&P Global Commodity
Insights, will add R654 lubricity improver by Infineum
to the list of recognized additives reflected in its
assessment process from July 15, 2024.
Platts understands that the given additive has
broad market acceptance and/or has been consumed
in and around the region, and is reflected in the key
regional national chemical inventory.
Platts first proposed the inclusion of the additive
© 2024 by S&P Global Inc. All rights reserved. 24
in a subscriber note published Dec. 11, 2023: https://
www.spglobal.com/commodityinsights/en/our-
methodology/subscriber-notes/121123-platts-
proposes-including-infineums-r654-additive-in-
singapore-gasoil
The list of Platts gasoil recognized additives is
intended to provide clarity to market participants
regarding which additives are generally considered to
be merchantable and accepted for cargoes delivered
through the Platts Market on Close assessment
process in Singapore.
Platts does not align its FOB Singapore additives
acceptance to any particular importing country.
For the full list of previously identified additives,
please see http://plts.co/V0Ax30ru2Yi
Please send all comments or questions
to asia_products@spglobal.com and
pricegroup@spglobal.com. For written comments,
please provide a clear indication if comments are not
intended for publication by Platts for public viewing.
Platts will consider all comments received and will
make comments not marked as confidential available
to the public upon request.
Platts to remove BASF additives from Singapore
gasoil assessment
Following a continued review of additives reflected
in its FOB Singapore gasoil assessments, Platts, part
of S&P Global Commodity Insights, will remove BASF
Keroflux cold flow improver additives 6170, 6206 and
6214 from Jan. 1, 2025.
Platts understands that these additives will be
gradually decommissioned by the producer BASF,
through May, 2024 after which there will be no further
supply of the aforementioned products.
The list of Platts gasoil recognized additives is
intended to provide clarity to market participants
regarding which additives are generally considered to
be merchantable and accepted for cargoes delivered
through the Platts Market on Close assessment
process in Singapore.
Platts does not align its FOB Singapore additives
acceptance to any particular importing country.
For the full list of previously identified additives,
please see http://plts.co/V0Ax30ru2Yi.
The removal of these additives was proposed in
a subscriber note published Feb. 7, 2024: https://
www.spglobal.com/commodityinsights/en/our-
methodology/subscriber-notes/020724-platts-
proposes-removal-of-basf-additives-from-singapore-
gasoil-assessment .
Please send all comments or questions
to asia_products@spglobal.com and
pricegroup@spglobal.com.
For written comments, please provide a clear
indication if they are not intended for publication by
Platts for public viewing.
Platts will consider all comments received and will
make those not marked as confidential available to the
public upon request.
Platts proposes including two TotalEnergies additives
in Singapore gasoil
Following a continued review of recognized
additives in the FOB Singapore gasoil assessment
process, Platts, part of S&P Global Commodity Insights,
proposes to begin reflecting two new additives from
TotalEnergies Additives and Fuels Solutions.
The additives are:
Additive Name Additive Type
PC 12 Lubricity improver
TAC 6011 Conductivity improver
Platts proposes to add the additives to the list
of recognized additives reflected in its assessment
process, found here: https://www.spglobal.com/
commodityinsights/PlattsContent/_assets/_files/en/
our-methodology/methodology-specifications/asia-
refined-oil-products-methodology.pdf
Asia-Pacific/Arab Gulf Marketscan July 12, 2024
The list of Platts gasoil recognized additives is
intended to provide clarity to market participants
regarding which additives are generally considered to
be merchantable and accepted for cargoes delivered
through the Platts Market on Close assessment
process in Singapore.
© 2024 by S&P Global Inc. All rights reserved. 25
Platts does not align its FOB Singapore
additives acceptance to any particular importing
country.
Please send all comments or questions by Aug.
30, 2024, to asia_oilproducts@spglobal.com and
pricegroup@spglobal.com
For written comments, please provide a clear
indication if comments are not intended for publication
by Platts for public viewing. Platts will consider all
comments received and will make comments not
marked as confidential available to the public upon
request.
Asia-Pacific/Arab Gulf Marketscan July 12, 2024

China tanker fixtures

Vessel name Volume (kt) Grade Origin Port Arrival Buyers

AGITOS 270 Arab Light Saudi Arabia Zhoushan 7/8/2024 Zhejiang Petroleum & Chemical
AL SIDDEEQ 125 Murban UAE Qingdao 7/13/2024 Yanchang
ALMI HYDRA 280 Arab Heavy Saudi Arabia Dalian 7/12/2024 Hengli Petrochemical
AMBER 6 100 ESPO Russia Dongying 7/25/2024 TBA
AMBER 6 100 ESPO Russia Longkou 7/13/2024 TBA
AVENTUS I 137 Mal Blend Malaysia Dongjiakou 7/15/2024 TBA
BUNGA KASTURI ENAM 280 Arab Light Saudi Arabia Zhoushan 7/22/2024 Zhejiang Petroleum & Chemical
C CREATOR 280 Arab Light Saudi Arabia Zhoushan 7/18/2024 Zhejiang Petroleum & Chemical
CRIUS 100 ESPO Russia Dongying 7/4/2024 TBA
DAVINA 270 Crude Malaysia Yantai 7/9/2024 Jincheng
EMILY S 100 ESPO Russia Dongying 7/2/2024 TBA
FRONT CLOUD 135 Arab Extra Light Saudi Arabia Zhoushan 7/17/2024 Zhejiang Petroleum & Chemical
FRONT CLOUD 136 Arab Light Saudi Arabia Zhoushan 7/17/2024 Zhejiang Petroleum & Chemical
FRONT NAUSTA 275 Arab Light Saudi Arabia Zhoushan 7/1/2024 Zhejiang Petroleum & Chemical
FULL WOOD 139 Crude TBA Yantai 7/5/2024 TBA
GOODWIN 130 Mal Blend Malaysia Dongjiakou 7/5/2024 TBA
HEIDI A 100 ESPO Russia Dongying 7/3/2024 TBA
HELLAS FOS 141 Lapa Brazil Yantai 7/15/2024 ChemChina
HELLAS FOS 140 Sepia Brazil Yantai 7/15/2024 ChemChina
LYRA 95 Crude Malaysia Dongying 7/4/2024 TBA
MERMAR 100 ESPO Russia Dongying 7/20/2024 TBA
MERMAR 100 ESPO Russia Qingdao 7/5/2024 Yanchang
MINERVA V 100 Crude Malaysia Yantai 7/16/2024 Hebei Xinhai
NEREIDES 273 Mal Blend Malaysia Qingdao 7/7/2024 Kedama
NEW VISTA 280 Arab Heavy Saudi Arabia Dalian 7/4/2024 Hengli Petrochemical
NICHOLE 100 ESPO Russia Dongjiakou 7/11/2024 Lijin
NISSOS RHENIA 280 Upper Zakum UAE Lianyungang 7/2/2024 Shenghong Petrochemical
OHAR 81 Mal Blend Malaysia Dongjiakou 7/10/2024 Xinyue
PACIFICOS 35 Fuel Oil Russia Dongying 7/2/2024 TBA
PAVEL CHERNYSH 95 Sokol Russia Dongying 6/30/2024 Yatong
PHONIX 272 Mal Blend Malaysia Dongjiakou 7/9/2024 TBA
PURDUE STELLAR 37 Mal Blend Malaysia Dongjiakou 6/29/2024 Qicheng
SALVIA 270 Mal Blend Malaysia Qingdao 7/8/2024 TBA
SAPPHO 40 Fuel Oil Russia Dongying 7/5/2024 TBA
SEA LION 134 Sepia Brazil Yantai 7/2/2024 ChemChina
SEA LION 135 Tupi Brazil Yantai 7/2/2024 ChemChina
SEA SPLENDOR 135 Tupi Brazil Zhoushan 7/3/2024 Zhejiang Petroleum & Chemical
SEA SPLENDOR 136 Sepia Brazil Zhoushan 7/3/2024 Zhejiang Petroleum & Chemical
SEADUCHESS 140 Basrah Heavy Iraq Lianyungang 7/11/2024 Shenghong Petrochemical
SEADUCHESS 140 Qatar Marine UAE Lianyungang 7/11/2024 Shenghong Petrochemical
SEEKER 8 150 Bitumen Blend Malaysia Yantai 7/16/2024 TBA
SHANNON II 135 Mal Blend Malaysia Dalian 6/30/2024 TBA
SHANNON II 135 Mal Blend Malaysia Dongjiakou 7/12/2024 TBA
SHARP OCEAN 134 Mal Blend Malaysia Dongjiakou 6/29/2024 TBA
SHARP OCEAN 130 Crude Malaysia Rizhao 7/5/2024 Dongming
SIREN II 29 Crude TBA Yantai 7/6/2024 TBA
SIREN LI 100 Fuel Oil UAE Dalian 7/12/2024 Hengli Petrochemical
SIRIUS 1 100 ESPO Russia Dongying 7/3/2024 TBA

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

Asia-Pacific/Arab Gulf Marketscan July 12, 2024

China tanker fixtures (continued)

Vessel name Volume (kt) Grade Origin Port Arrival Buyers

SIRIUS 1 100 ESPO Russia Rizhao 7/15/2024 TBA

SPIRIT OF CASPER 140 Mal Blend Malaysia Qingdao 7/9/2024 TBA
SURREY QUAYS 100 ESPO Russia Dongying 7/20/2024 TBA
TAI HE 260 Mal Blend Malaysia Rizhao 7/8/2024 TBA
TEATRALNY BRIDGE 50 Fuel Oil Russia Dongying 7/2/2024 TBA
THEMIS 100 Fuel Oil Malaysia Yantai 7/4/2024 TBA
TINA 5 150 Bitumen Blend Malaysia Yantai 7/25/2024 TBA
TOWER BRIDGE 40 Fuel Oil Russia Dongying 6/27/2024 Hualian
URGANE I 80 Fuel Oil Malaysia Longkou 7/17/2024 TBA
YASA SOUTHERN CROSS 280 Crude US Zhoushan 7/3/2024 Zhejiang Petroleum & Chemical
YURI SENKEVICH 100 Sokol Russia Rizhao 7/5/2024 Dongming
ZALIV VOSTOK 100 Sakhalin Blend Russia Rizhao 7/12/2024 TBA

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

Asia-Pacific/Arab Gulf Marketscan July 12, 2024

International Dirty Tanker Fixtures (PGT page 2950)

Ship name Size Type Date Route Rate Charterer

East of Suez

Pascagoula Voyager 270 CR Jul27 PG-Spore, Thailand o/p Chevron

VL Pioneer 270 CR Aug2 PG-Daesan w42.5 HOB
Tbn 270 CR Jul29 PG-China rnr Unipec
Sea Valiant 80 CR Jul27 Indonesia-Thailand $750k Quantum
Yasa Golden Marmara 80 CR Jul27 Benchamas-Thailand rnr Chevron
Maritime Glory 80 FO Jul27 Thailand-Spore $650k Shell
Esteem Cowboy 80 CR Jul26 Banyu Urip-Thailand rnr BCPT
Freedom Glory 55 FO Jul19 Spore-Tianjin rnr ITG
Felicity 50 FO Jul20 Fujairah-R Tanura rnr ATC
Petco Tbn 40 FO Jul22 Spore-Chittagong rnr United
Hafnia Tbn 40 FO dnr Balikpapan-Spore $850k ARC
Supreme Star 30 FO Jul15 Cilacap-Spore rnr Turbo Asia
Baltic/UKC

No fixtures reported.
Med

Lipari 130 CR dnr CPC-Med, UKC rnr, rnr Litasco

WAF

Babylon 260 CR Jul26 WAF-UKC rnr Exxon

Captain Michael 130 CR dnr WAF-UKCM w100 Shell
Seaways Colorado 130 CR Jul30 WAF-USAC rnr P66
Atlantic 130 CR Jul29 Jubilee-USAC w100 P66
Americas

Maria A. Angelicoussis o/o Maran Lyra 270 CR Aug4 STS USGC-UKC, Demurrage $3.1m, $55k/d
Resource Marine
New Voyage 270 CR dnr USGC-UKC $3.15m Exxon
Tbn 270 CR dnr USGC-East rnr Oxy
Coshonour Lake 260 CR Aug10 Brazil-China w50.75 Petrogal
Xin Dan Yang 260 CR Aug13 Brazil-East rnr cnr
Aphrodite 260 CR Aug10 Guyana-UKC w61.5 Equinor
Minerva Symphony 145 CR Jul29 USGC-UKCM w85 BP
Eagle San Antonio 130 CR Jul14 USGC Lightering $90k/d Oxy
Advantage Solar 130 CR Jul26 Peregrino-Spain w105 Repsol
Amax Avenue 70 CR Jul20 USGC-UKCM w182.5 P66
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

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

Asia-Pacific/Arab Gulf Marketscan July 12, 2024

International clean tanker fixtures (PGT page 2904)

Ship name Size Type Date Route Rate Charterer

East of Suez

Navig8 Precision 90 ULSD Jul21 Kuwait-UAE $950k CSSA

Sunda 60 UNL Jul18 Jubail-Fujairah, Opts $800k, rnr ATF
Torm Ganga 75 NA Jul26 PG-Japan rnr SK Energy
Hafnia Seine 60 UNL Jul15 PG-Pakistan rnr cnr
Atlantic Crown 40 ULSD Jul14 Kuwait-PG rnr ATC
High Challenge 35 ULSD Jul17 Jubail-Jebel Ali, Fujairah $425k, $450k CSSA
Hafnia Yangtze 60 UNL Jul26 Yanbu-WMed, UKC $2.2m, $2.25m Admic
Yamilah-III 60 CL Jul13 Rabigh-Ain Sukhna $900k ATC
Seychelles Patriot 35 CL Jul14 Cross-RSea rnr cnr
Doric Courage 35 CL Jul15 Taiwan-Spore, Phil, HongKong 700k, 625k, 550k Shell
Largo Desert 35 ULSD Jul20 Sikka-Australia, Opts rnr, rnr BP
Sea Star 90 UNL Jul19 Dalian-Spore, Indonesia, PG $1.2m, rnr, rnr PetroChina
Clio 90 GO Jul16 Daesan-Spore, Opts $1.2m, rnr ATS
Torm Gitte 75 CL Jul30 SKorea-Australia w175 BP
Cielo Bianco 60 UNL Jul26 Taiwan-Spore, PG $1.5m, $2.2m ATS
Tbn 35 UNL+GO Jul26 Spore-Colombo rnr Sinopec
Torm Atlantic 35 CL Jul22 Spore-Reunion $1.33m Vitol
Torm Tbn 35 UNL Jul23 NChina-Spore, HongKong, Opts $850k, rnr, rnr PetroChina
Partridge Pacific 35 CL Jul16 SKorea-Australia rnr Ampol
Tbn 35 NA Jul29 Darwin-Spore, Japan rnr, rnr Inpex
Navig8 Guide 35 ULSD Jul20 Qingdao-Batangas, Spore $700k, $800k ST
Petrosamudra 27 UNL Jul13 Spore-Tuban $400k Pertamina
Baltic /UKC

PS Augusta 37 UNL Jul16 UKC-TA, ECCan w182.5, w200 Valero

Rose M 37 NA Jul15 NSpain-UKC, Med, Moc w185, w185, w195 Repsol
Med

Elegant Grace 37 CL Jul17 SPMed-TA, UKC, Med w175, w175, w195 Repsol
Bronx 37 NA Jul19 Zawia-Med, UKC w240, w250 BGN
Americas

Bantry Bay 38 CL Jul17 USGC-Caribs, Demurrage $975k, $52.5k/d Chevron

UOG Despina 38 CL Jul14 USGC-Caribs, Demurrage $800k, $45k/d Chevron
Shell Tbn 38 ULSD Jul18 USGC-TA, Caribs, Demurrage w205, $1.025m, $55k/d Unipec
Nave Equinox 38 CL Jul17 USGC-TA, Demurrage w210, $55k/d Pilot
STI Topaz 38 NA Jul16 USGC-TA, Demurrage w200, $52.5k/d P66
Silver Carla 38 CL Jul13 USGC-Brazil w260 J Global
Elandra Palm 38 CL Jul22 Vancouver-WCMex $900k BP
High Voyager 38 CL Jul16 Mamonal-Pozos $350k Ecopetrol
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

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

Asia-Pacific/Arab Gulf Marketscan July 12, 2024

APAC Deals Summary Withdrawals „ Platts Mogas 92: AUG24: ONYX bids 25kb $91.90/bbl
„ No bids reported „ Platts Mogas 92: AUG24: ONYX bids 25kb $91.90/bbl
** Denotes OCO order. „ Platts Mogas 92: AUG24: VITOLSG bids 25kb $91.90/bbl
Gasoline FOB Spore Cargo
Offers (PGA page 2314) Withdrawals
Trades (PGA page 2315)
„ No offers reported „ Platts Mogas 92: AUG24: VITOLSG no longer bids 25kb
„ No trades reported Withdrawals $92.30/bbl
* Denotes market maker. All times GMT
„ Platts Mogas 92: JUL27-JUL31: **VITOLSG Withdraws offer „ Platts Mogas 92: AUG24: HOTEI Withdraws bid 25kb
Bids (PGA page 2313) 50kb FOB Straits MOPS 92 $1.50/bbl $92.00/bbl
** Denotes OCO order.
„ Platts Mogas 92: JUL27-JUL31: **ARAMCOSG bids 50kb FOB „ Platts Mogas 92: JUL27-JUL31: **VITOLSG Withdraws offer
Straits MOPS 92 $0.70/bbl 50kb FOB Straits $94.00/bbl Offers (PGA page 4010)
„ Platts Mogas 92: AUG1-AUG5: **ARAMCOSG bids 50kb FOB „ Platts Mogas 92: AUG1-AUG5: **VITOLSG Withdraws offer „ Platts Mogas 92: AUG24: THEMEINT offers 25kb $92.35/bbl
Straits MOPS 92 $0.70/bbl 50kb FOB Straits MOPS 92 $1.50/bbl „ Platts Mogas 92: AUG24: THEMEINT offers 25kb $92.39/bbl
„ Platts Mogas 92: AUG4-AUG8: **ARAMCOSG bids 50kb FOB „ Platts Mogas 92: AUG1-AUG5: **VITOLSG Withdraws offer „ Platts Mogas 92: AUG24: HOTEI offers 25kb $92.45/bbl
Straits $93.90/bbl 50kb FOB Straits $94.10/bbl
„ Platts Mogas 92: AUG24: ONYX offers 25kb $92.45/bbl
„ Platts Mogas 92: AUG5-AUG9: **ARAMCOSG bids 50kb FOB „ Platts Mogas 92: AUG7-AUG11: **VITOLSG Withdraws offer
50kb FOB Straits MOPS 92 $1.50/bbl „ Platts Mogas 92: AUG24: ONYX offers 25kb $92.45/bbl
Straits $93.90/bbl
„ Platts Mogas 92: AUG7-AUG11: **VITOLSG Withdraws offer „ Platts Mogas 92: AUG24: HOTEI offers 25kb $92.50/bbl
„ Platts Mogas 92: AUG6-AUG10: **ARAMCOSG bids 50kb FOB
Straits $93.95/bbl 50kb FOB Straits $94.20/bbl „ Platts Mogas 92: AUG24: ARIONINV offers 25kb $92.60/bbl
„ Platts Mogas 92: AUG7-AUG11: **ARAMCOSG bids 50kb FOB ** Denotes OCO order. „ Platts Mogas 92: AUG24: ONYX offers 25kb $92.65/bbl
Straits $93.95/bbl „ Platts Mogas 92: AUG24: MFLCDTY offers 25kb $92.70/bbl
„ Platts Mogas 92: AUG7-AUG11: **ARAMCOSG bids 50kb FOB Gasoline FOB Spore Paper „ Platts Mogas 92: AUG24: VITOLSG offers 25kb $93.00/bbl
Straits MOPS 92 $0.70/bbl
Trades (PGA page 4011) Withdrawals
„ JUL28-AUG1: **UNIPECSG bids 100kb FOB Straits $93.80/bbl
„ Platts Mogas 92: AUG24: ONYX* sold to VITOLSG 25kb „ Platts Mogas 92: AUG24: ONYX no longer offers 25kb
„ JUL28-AUG1: **UNIPECSG bids 100kb FOB Straits MOPS 92 $92.35/bbl
$92.35/bbl 8:29:54
$1.20/bbl
„ Platts Mogas 92: AUG24: ONYX sold to VITOLSG* 25kb „ Platts Mogas 92: AUG24: MFLCDTY Withdraws offer 25kb
„ JUL30-AUG3: **UNIPECSG bids 100kb FOB Straits $92.60/bbl
$92.30/bbl 8:29:55
$93.80/bbl
„ Platts Mogas 92: AUG24: THEMEINT* sold to ARIONINV 25kb „ Platts Mogas 92: AUG24: HOTEI Withdraws offer 25kb
„ JUL30-AUG3: **UNIPECSG bids 100kb FOB Straits MOPS 92 $92.85/bbl
$92.35/bbl 8:30:04
$1.20/bbl ** Denotes OCO order.
* Denotes market maker. All times GMT
„ AUG4-AUG8: **ARAMCOSG bids 100kb FOB Straits
$94.10/bbl Bids (PGA page 4009)
Gasoline FOB Spore Paper Spreads
„ AUG5-AUG9: **ARAMCOSG bids 100kb FOB Straits „ Platts Mogas 92: AUG24: ARIONINV bids 25kb $92.30/bbl
$94.10/bbl Trades (PGA page 4011)
„ Platts Mogas 92: AUG24: THEMEINT bids 25kb $92.20/bbl
„ AUG6-AUG10: **ARAMCOSG bids 100kb FOB Straits „ Platts Mogas 92: AUG24: HOTEI bids 25kb $92.15/bbl „ Platts Mogas 92 spread: AUG24/SEP24: THEMEINT* sold to
$94.10/bbl ARIONINV 25kb $1.28/bbl 8:07:35
„ Platts Mogas 92: AUG24: THEMEINT bids 25kb $92.15/bbl
„ AUG7-AUG11: **ARAMCOSG bids 100kb FOB Straits „ Platts Mogas 92 spread: AUG24/SEP24: P66SG* sold to
„ Platts Mogas 92: AUG24: HOTEI bids 25kb $92.10/bbl
$94.10/bbl ARIONINV 25kb $1.30/bbl 8:29:57
„ Platts Mogas 92: AUG24: MFLCDTY bids 25kb $92.10/bbl
„ AUG7-AUG11: SKEISG bids 100kb FOB Straits $93.80/bbl „ Platts Mogas 92 spread: AUG24/SEP24: PTT sold to HOTEI*
„ Platts Mogas 92: AUG24: UNIPECSG bids 25kb $92.10/bbl 50kb $1.34/bbl 8:30:03
„ AUG7-AUG11: SKEISG bids 150kb FOB Straits $94.10/bbl
„ Platts Mogas 92: AUG24: ONYX bids 25kb $92.00/bbl „ Platts Mogas 92 spread: SEP24/OCT24: PTT sold to
„ Platts Mogas 95: AUG3-AUG7: PTT bids 50kb FOB Straits
MOPS 95 $0.90/bbl „ Platts Mogas 92: AUG24: ONYX bids 25kb $92.00/bbl ARAMCOSG* 25kb $1.22/bbl 8:29:47

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

Asia-Pacific/Arab Gulf Marketscan July 12, 2024

* Denotes market maker. All times GMT „ Platts Mogas 92 spread: AUG24/SEP24: P66SG bids 25kb 25kb $1.30/bbl
Bids (PGA page 4009) $1.10/bbl „ Platts Mogas 92 spread: BAL MONTH/AUG24: HOTEI offers
„ Platts Mogas 92 spread: AUG24/SEP24: FREEPTASIA bids 25kb $1.30/bbl
„ Platts Mogas 92 spread: BAL MONTH/AUG24: UITSG bids
25kb $0.91/bbl „ Platts Mogas 92 spread: BAL MONTH/AUG24: VITOLSG
25kb $0.60/bbl
„ Platts Mogas 92 spread: SEP24/OCT24: SIETCO bids 25kb offers 25kb $1.50/bbl
„ Platts Mogas 92 spread: BAL MONTH/AUG24: SKEISG bids
$1.20/bbl „ Platts Mogas 92 spread: AUG24/SEP24: PTT offers 25kb
25kb $0.55/bbl
„ Platts Mogas 92 spread: SEP24/OCT24: VITOLSG bids 25kb $1.35/bbl
„ Platts Mogas 92 spread: BAL MONTH/AUG24: ARAMCOSG
$1.20/bbl „ Platts Mogas 92 spread: AUG24/SEP24: THEMEINT offers
bids 25kb $0.50/bbl
„ Platts Mogas 92 spread: SEP24/OCT24: ARIONINV bids 25kb 25kb $1.35/bbl
„ Platts Mogas 92 spread: BAL MONTH/AUG24: SKEISG bids
$1.19/bbl „ Platts Mogas 92 spread: AUG24/SEP24: VITOLSG offers 25kb
25kb $0.50/bbl
„ Platts Mogas 92 spread: SEP24/OCT24: SKEISG bids 25kb $1.35/bbl
„ Platts Mogas 92 spread: BAL MONTH/AUG24: SKEISG bids
$1.18/bbl „ Platts Mogas 92 spread: AUG24/SEP24: ONYX offers 25kb
25kb $0.45/bbl
„ Platts Mogas 92 spread: SEP24/OCT24: BPSG bids 25kb $1.36/bbl
„ Platts Mogas 92 spread: BAL MONTH/AUG24: VITOLSG bids
$1.15/bbl „ Platts Mogas 92 spread: AUG24/SEP24: BPSG offers 25kb
25kb $0.40/bbl
„ Platts Mogas 92 spread: SEP24/OCT24: P66SG bids 25kb $1.40/bbl
„ Platts Mogas 92 spread: BAL MONTH/AUG24: THEMEINT
$1.05/bbl „ Platts Mogas 92 spread: AUG24/SEP24: VITOLSG offers 25kb
bids 25kb $0.38/bbl
„ Platts Mogas 92 spread: SEP24/OCT24: THEMEINT bids $1.40/bbl
„ Platts Mogas 92 spread: BAL MONTH/AUG24: ARIONINV
25kb $1.00/bbl „ Platts Mogas 92 spread: AUG24/SEP24: ARAMCOSG offers
bids 25kb $0.35/bbl
„ Platts Mogas 92 spread: SEP24/OCT24: FREEPTASIA bids 25kb $1.45/bbl
„ Platts Mogas 92 spread: BAL MONTH/AUG24: HOTEI bids
25kb $0.95/bbl „ Platts Mogas 92 spread: AUG24/SEP24: HOTEI offers 25kb
25kb $0.35/bbl
Withdrawals $1.45/bbl
„ Platts Mogas 92 spread: BAL MONTH/AUG24: HOTEI bids
25kb $0.35/bbl „ Platts Mogas 92 spread: BAL MONTH/AUG24: P66SG „ Platts Mogas 92 spread: AUG24/SEP24: ENGIESG offers
Withdraws bid 25kb $0.40/bbl 25kb $1.50/bbl
„ Platts Mogas 92 spread: AUG24/SEP24: HOTEI bids 50kb
$1.34/bbl „ Platts Mogas 92 spread: BAL MONTH/AUG24: HOTEI „ Platts Mogas 92 spread: AUG24/SEP24: HOTEI offers 25kb
Withdraws bid 25kb $0.20/bbl $1.50/bbl
„ Platts Mogas 92 spread: AUG24/SEP24: BPSG bids 25kb
$1.25/bbl „ Platts Mogas 92 spread: BAL MONTH/AUG24: HOTEI „ Platts Mogas 92 spread: AUG24/SEP24: FREEPTASIA offers
Withdraws bid 25kb $0.20/bbl 25kb $1.61/bbl
„ Platts Mogas 92 spread: AUG24/SEP24: SIETCO bids 25kb
$1.25/bbl „ Platts Mogas 92 spread: AUG24/SEP24: ARIONINV no longer „ Platts Mogas 92 spread: SEP24/OCT24: P66SG offers 25kb
bids :RAISED BID AND TRADED $1.25/bbl
„ Platts Mogas 92 spread: AUG24/SEP24: HOTEI bids 25kb
$1.20/bbl „ Platts Mogas 92 spread: AUG24/SEP24: HOTEI Withdraws „ Platts Mogas 92 spread: SEP24/OCT24: UITSG offers 25kb
bid 25kb $1.00/bbl $1.25/bbl
„ Platts Mogas 92 spread: AUG24/SEP24: THEMEINT bids
25kb $1.20/bbl „ Platts Mogas 92 spread: AUG24/SEP24: HOTEI Withdraws „ Platts Mogas 92 spread: SEP24/OCT24: PTT offers 25kb
bid 25kb $1.05/bbl $1.30/bbl
„ Platts Mogas 92 spread: AUG24/SEP24: VITOLSG bids 25kb
$1.20/bbl „ Platts Mogas 92 spread: SEP24/OCT24: ARAMCOSG no „ Platts Mogas 92 spread: SEP24/OCT24: BPSG offers 25kb
longer bids 25kb $1.22/bbl $1.35/bbl
„ Platts Mogas 92 spread: AUG24/SEP24: ARAMCOSG bids
25kb $1.18/bbl „ Platts Mogas 92 spread: SEP24/OCT24: P66SG Withdraws „ Platts Mogas 92 spread: SEP24/OCT24: THEMEINT offers
bid 25kb $0.00/bbl 25kb $1.35/bbl
„ Platts Mogas 92 spread: AUG24/SEP24: ARIONINV bids 25kb
$1.15/bbl ** Denotes OCO order. „ Platts Mogas 92 spread: SEP24/OCT24: VITOLSG offers 25kb
Offers (PGA page 4010) $1.40/bbl
„ Platts Mogas 92 spread: AUG24/SEP24: SKEISG bids 25kb
$1.15/bbl „ Platts Mogas 92 spread: SEP24/OCT24: FREEPTASIA offers
„ Platts Mogas 92 spread: BAL MONTH/AUG24: ARAMCOSG
25kb $1.43/bbl
„ Platts Mogas 92 spread: AUG24/SEP24: ONYX bids 25kb offers 25kb $1.30/bbl
$1.12/bbl „ Platts Mogas 92 spread: SEP24/OCT24: ARAMCOSG offers
„ Platts Mogas 92 spread: BAL MONTH/AUG24: HOTEI offers
25kb $1.45/bbl

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

Asia-Pacific/Arab Gulf Marketscan July 12, 2024
Withdrawals
„ Platts Mogas 92 spread: BAL MONTH/AUG24: PTT
Withdraws offer 25kb $1.15/bbl
„ Platts Mogas 92 spread: BAL MONTH/AUG24: P66SG
Withdraws offer 25kb $1.40/bbl
„ Platts Mogas 92 spread: AUG24/SEP24: THEMEINT no
longer offers 25kb $1.28/bbl
„ Platts Mogas 92 spread: AUG24/SEP24: P66SG no longer
offers 25kb $1.30/bbl
„ Platts Mogas 92 spread: AUG24/SEP24: PTT Withdraws offer
25kb $1.30/bbl
„ Platts Mogas 92 spread: SEP24/OCT24: PTT Withdraws offer
25kb $1.25/bbl
** Denotes OCO order.
Naphtha C+F Cargo
Trades (PGA page 2325)
„ H2SEP24: BPSG* sold to VITOLSG 25kt $703.00/mt 8:29:10
* Denotes market maker. All times GMT
Bids (PGA page 2323)
„ H1SEP24: **AGTASIA bids 25kt $706.00/mt
„ H1SEP24: **VITOLSG bids 25kt $705.00/mt
„ H2SEP24: **VITOLSG bids 25kt $702.00/mt
„ H2SEP24: **AGTASIA bids 25kt $700.00/mt
Withdrawals
„ No bids reported
** Denotes OCO order.
Offers (PGA page 2324)
„ H2AUG24: **TOTALSG offers 25kt $709.00/mt
„ H1SEP24: **TOTALSG offers 25kt $707.00/mt
„ H2SEP24: **TOTALSG offers 25kt $704.00/mt
Withdrawals
„ H2SEP24: BPSG no longer offers 25kt $703.00/mt
** Denotes OCO order.
Naphtha C+F Japan Cargo Spreads
Trades (PGA page 2325)
„ No trades reported
© 2024 by S&P Global Inc. All rights reserved.
* Denotes market maker. All times GMT „ AUG24: DARE offers 50kb $100.30/bbl
Bids (PGA page 2323) „ SEP24: DARE offers 50kb $101.20/bbl
„ SEP24: DARE offers 50kb $101.25/bbl
„ H2SEP24/H2OCT24: VITOLSG bids 25kt $5.50/mt
„ BAL MONTH: BPSG offers 50kb $99.75/bbl
Withdrawals
„ No bids reported „ BAL MONTH: BPSG offers 50kb $99.77/bbl
** Denotes OCO order. „ BAL MONTH: CMTENERGY offers 50kb $99.95/bbl
Offers (PGA page 2324) „ BAL MONTH: DARE offers 50kb $100.00/bbl
„ H2AUG24/H1SEP24: TOTALSG offers 25kt $4.00/mt „ BAL MONTH: DARE offers 50kb $100.05/bbl
Withdrawals „ BAL MONTH: DVTRADING offers 50kb $100.20/bbl
Withdrawals
„ No offers reported
** Denotes OCO order. „ SEP24: DVTRADING no longer offers 50kb $100.30/bbl
„ BAL MONTH: CMTENERGY Withdraws offer 50kb
Jet Kero FOB Spore Paper $100.60/bbl
** Denotes OCO order.
Trades (PGA page 4023)
„ SEP24: DVTRADING* sold to DARE 50kb $100.30/ Jet Kero FOB Spore Paper Spreads
bbl 8:29:55
Trades (PGA page 4023)
* Denotes market maker. All times GMT
Bids (PGA page 4021) „ BAL MONTH/AUG24: AGT sold to VITOLSG* 50kb $-0.30/
bbl 8:29:58
„ AUG24: CMTENERGY bids 50kb $99.60/bbl
* Denotes market maker. All times GMT
„ AUG24: DVTRADING bids 50kb $99.50/bbl
Bids (PGA page 4021)
„ AUG24: DARE bids 50kb $99.30/bbl
„ BAL MONTH/AUG24: CMTENERGY bids 50kb $-0.45/bbl
„ AUG24: DARE bids 50kb $99.25/bbl
„ BAL MONTH/AUG24: ARAMCOSG bids 50kb $-0.5/bbl
„ SEP24: DARE bids 50kb $100.25/bbl
„ BAL MONTH/AUG24: BPSG bids 50kb $-0.5/bbl
„ SEP24: HOTEI bids 50kb $100.00/bbl
„ BAL MONTH/AUG24: CONDACAP bids 50kb $-0.5/bbl
„ SEP24: DVTRADING bids 50kb $99.55/bbl
„ BAL MONTH/AUG24: DARE bids 50kb $-0.5/bbl
„ BAL MONTH: CMTENERGY bids 50kb $98.90/bbl
„ BAL MONTH/AUG24: HOTEI bids 50kb $-0.5/bbl
„ BAL MONTH: DARE bids 50kb $98.90/bbl
„ BAL MONTH/AUG24: UITSG bids 50kb $-0.5/bbl
„ BAL MONTH: DARE bids 50kb $98.85/bbl
„ BAL MONTH/AUG24: ARAMCOSG bids 50kb $-0.6/bbl
„ BAL MONTH: DVTRADING bids 50kb $98.85/bbl
„ BAL MONTH/AUG24: BPSG bids 50kb $-0.6/bbl
Withdrawals
„ BAL MONTH/AUG24: DVTRADING bids 50kb $-0.6/bbl
„ AUG24: DVTRADING Withdraws bid 50kb $98.80/bbl
„ AUG24/SEP24: VITOLSG bids 50kb $-0.25/bbl
„ SEP24: DARE no longer bids :RAISED BID AND TRADED
„ AUG24/SEP24: DARE bids 50kb $-0.3/bbl
** Denotes OCO order.
„ AUG24/SEP24: CMTENERGY bids 50kb $-0.35/bbl
Offers (PGA page 4022)
„ AUG24/SEP24: ERACOMM bids 50kb $-0.35/bbl
„ AUG24: CMTENERGY offers 50kb $100.20/bbl
„ AUG24/SEP24: UITSG bids 50kb $-0.35/bbl
„ AUG24: DVTRADING offers 50kb $100.20/bbl
„ AUG24/SEP24: ARAMCOSG bids 50kb $-0.4/bbl
„ AUG24: DARE offers 50kb $100.25/bbl
32
Asia-Pacific/Arab Gulf Marketscan July 12, 2024
„ AUG24/SEP24: BPSG bids 50kb $-0.4/bbl
„ AUG24/SEP24: DVTRADING bids 50kb $-0.4/bbl
„ AUG24/SEP24: HOTEI bids 50kb $-0.4/bbl
„ AUG24/SEP24: CONDACAP bids 50kb $-0.5/bbl
„ AUG24: DARE bids 50kb $-1.25/bbl
„ AUG24: CMTENERGY bids 50kb $-1.3/bbl
„ AUG24: DVTRADING bids 50kb $-1.3/bbl
„ AUG24: ERACOMM bids 50kb $-1.3/bbl
„ AUG24: VITOLSG bids 50kb $-1.3/bbl
„ AUG24: AGT bids 50kb $-1.35/bbl
„ AUG24: CORNERCAP bids 50kb $-1.35/bbl
„ AUG24: UITSG bids 50kb $-1.35/bbl
„ AUG24: ARAMCOSG bids 50kb $-1.4/bbl
„ AUG24: HOTEI bids 50kb $-1.4/bbl
„ AUG24: MERCURIARESOURCES bids 50kb $-1.4/bbl
„ AUG24: TRAFI bids 50kb $-1.4/bbl
„ AUG24: BPSG bids 50kb $-1.5/bbl
„ AUG24: CONDACAP bids 50kb $-1.5/bbl
Withdrawals
„ BAL MONTH/AUG24: CMTENERGY Withdraws bid 50kb
$-0.55/bbl
„ BAL MONTH/AUG24: VITOLSG Withdraws bid 50kb $-0.6/bbl
„ BAL MONTH/AUG24: VITOLSG no longer bids 50kb $-0.3/bbl
„ AUG24/SEP24: CMTENERGY Withdraws bid 50kb $-0.4/bbl
** Denotes OCO order.
Offers (PGA page 4022)
„ BAL MONTH/AUG24: CMTENERGY offers 50kb $-0.11/bbl
„ BAL MONTH/AUG24: ARAMCOSG offers 50kb $-0.1/bbl
„ BAL MONTH/AUG24: BPSG offers 50kb $-0.05/bbl
„ BAL MONTH/AUG24: CONDACAP offers 50kb $-0.05/bbl
„ BAL MONTH/AUG24: DARE offers 50kb $0.00/bbl
„ BAL MONTH/AUG24: DVTRADING offers 50kb $0.00/bbl
„ BAL MONTH/AUG24: HOTEI offers 50kb $0.00/bbl
„ BAL MONTH/AUG24: UITSG offers 50kb $0.00/bbl
„ AUG24/SEP24: DARE offers 50kb $-0.2/bbl
„ AUG24/SEP24: CMTENERGY offers 50kb $-0.1/bbl
„ AUG24/SEP24: CONDACAP offers 50kb $-0.1/bbl
© 2024 by S&P Global Inc. All rights reserved. 33
„ AUG24/SEP24: ERACOMM offers 50kb $-0.08/bbl
„ AUG24/SEP24: DVTRADING offers 50kb $-0.05/bbl
„ AUG24/SEP24: ARAMCOSG offers 50kb $0.00/bbl
„ AUG24/SEP24: BPSG offers 50kb $0.00/bbl
„ AUG24/SEP24: HOTEI offers 50kb $0.00/bbl
„ AUG24/SEP24: UITSG offers 50kb $0.00/bbl
„ AUG24: CORNERCAP offers 50kb $-1.15/bbl
„ AUG24: MERCURIARESOURCES offers 50kb $-1.15/bbl
„ AUG24: TRAFI offers 50kb $-1.15/bbl
„ AUG24: DARE offers 50kb $-1.13/bbl
„ AUG24: BPSG offers 50kb $-1.1/bbl
„ AUG24: CONDACAP offers 50kb $-1.1/bbl
„ AUG24: RONGPETRO offers 50kb $-1.1/bbl
„ AUG24: UITSG offers 50kb $-1.1/bbl
„ AUG24: AGT offers 50kb $-1.05/bbl
„ AUG24: DVTRADING offers 50kb $-1.05/bbl
„ AUG24: ERACOMM offers 50kb $-1/bbl
„ AUG24: ARAMCOSG offers 50kb $-0.95/bbl
„ AUG24: CMTENERGY offers 50kb $-0.95/bbl
„ AUG24: DARE offers 50kb $-0.95/bbl
„ AUG24: HOTEI offers 50kb $-0.95/bbl
„ AUG24: RONGPETRO offers 50kb $-0.95/bbl
Withdrawals
„ BAL MONTH/AUG24: ARAMCOSG Withdraws offer 50kb
$0.00/bbl
** Denotes OCO order.
Gasoil FOB Spore Paper
Trades (PGA page 4019)
„ AUG24: DARE sold to ANVIK* 50kb $101.03/bbl 8:29:50
„ AUG24: DARE sold to T3GT* 50kb $101.02/bbl 8:29:51
„ AUG24: DARE sold to HOTEI* 50kb $101.02/bbl 8:29:52
„ AUG24: DARE sold to DVTRADING* 50kb $101.00/
bbl 8:29:54
„ AUG24: DARE sold to VITOLSG* 50kb $101.00/bbl 8:29:55
„ AUG24: DARE sold to HOTEI* 50kb $101.02/bbl 8:29:55
„ AUG24: DARE sold to AGT* 50kb $101.00/bbl 8:29:56
„ AUG24: DARE* sold to ANVIK 50kb $101.00/bbl 8:29:59
„ AUG24: DARE* sold to HOTEI 50kb $101.00/bbl 8:30:01
„ AUG24: DARE* sold to PRIME 50kb $101.00/bbl 8:30:03
„ BAL MONTH: VITOLSG sold to BPSG* 50kb $100.85/
bbl 8:29:55
* Denotes market maker. All times GMT
Bids (PGA page 4017)
„ AUG24: DVTRADING bids 50kb $100.90/bbl
„ AUG24: DARE bids 50kb $100.85/bbl
„ AUG24: PRIME bids 50kb $100.85/bbl
„ AUG24: CMTENERGY bids 50kb $100.80/bbl
„ AUG24: DARE bids 50kb $100.75/bbl
„ AUG24: DARE bids 50kb $100.70/bbl
„ AUG24: DVTRADING bids 50kb $100.70/bbl
„ BAL MONTH: BPSG bids 50kb $100.85/bbl
„ BAL MONTH: CMTENERGY bids 50kb $100.70/bbl
„ BAL MONTH: PRIME bids 50kb $100.70/bbl
„ BAL MONTH: DARE bids 50kb $100.40/bbl
„ BAL MONTH: DARE bids 50kb $100.35/bbl
„ BAL MONTH: DVTRADING bids 50kb $100.30/bbl
„ BAL MONTH: HOTEI bids 50kb $100.30/bbl
„ BAL MONTH: PRIME bids 50kb $99.80/bbl
Withdrawals
„ AUG24: ANVIK no longer bids 50kb $101.03/bbl
„ AUG24: HOTEI no longer bids 50kb $101.02/bbl
„ AUG24: T3GT no longer bids 50kb $101.02/bbl
„ AUG24: AGT no longer bids 50kb $101.00/bbl
„ AUG24: DVTRADING no longer bids 50kb $101.00/bbl
„ AUG24: VITOLSG no longer bids 50kb $101.00/bbl
„ AUG24: DVTRADING Withdraws bid 50kb $100.20/bbl
„ AUG24: DARE Withdraws bid 50kb $100.15/bbl
„ AUG24: DVTRADING Withdraws bid 50kb $100.00/bbl
„ AUG24: PRIME Withdraws bid 50kb $100.00/bbl
„ BAL MONTH: DARE Withdraws bid 50kb $99.80/bbl
„ BAL MONTH: DVTRADING Withdraws bid 50kb $99.80/bbl
„ BAL MONTH: BPSG no longer bids 50kb $100.85/bbl
Asia-Pacific/Arab Gulf Marketscan July 12, 2024
** Denotes OCO order.
Offers (PGA page 4018)
„ AUG24: DARE offers 50kb $101.00/bbl
„ AUG24: NATBANKABUDHABI offers 50kb $101.10/bbl
„ AUG24: DARE offers 50kb $101.15/bbl
„ AUG24: NATBANKABUDHABI offers 50kb $101.15/bbl
„ AUG24: DVTRADING offers 50kb $101.20/bbl
„ AUG24: NATBANKABUDHABI offers 50kb $101.20/bbl
„ AUG24: T3GT offers 50kb $101.20/bbl
„ AUG24: CMTENERGY offers 50kb $101.25/bbl
„ AUG24: ANVIK offers 50kb $101.30/bbl
„ AUG24: DVTRADING offers 50kb $101.40/bbl
„ AUG24: PRIME offers 50kb $101.40/bbl
„ AUG24: DVTRADING offers 50kb $101.50/bbl
„ AUG24: ERACOMM offers 50kb $101.70/bbl
„ AUG24: AGT offers 50kb $101.80/bbl
„ AUG24: HOTEI offers 50kb $101.80/bbl
„ BAL MONTH: CMTENERGY offers 50kb $101.10/bbl
„ BAL MONTH: BPSG offers 50kb $101.17/bbl
„ BAL MONTH: DARE offers 50kb $101.40/bbl
„ BAL MONTH: DARE offers 50kb $101.45/bbl
„ BAL MONTH: PRIME offers 50kb $101.50/bbl
„ BAL MONTH: DVTRADING offers 50kb $101.60/bbl
„ BAL MONTH: HOTEI offers 50kb $101.60/bbl
Withdrawals
„ AUG24: DARE no longer offers 50kb $101.00/bbl
„ BAL MONTH: DARE Withdraws offer 50kb $101.70/bbl
„ BAL MONTH: DVTRADING Withdraws offer 50kb $101.70/bbl
** Denotes OCO order.
Gasoil FOB Spore Paper Spreads
Trades (PGA page 4019)
„ BAL MONTH/AUG24: DARE sold to PRIME* 50kb $-0.17/
bbl 8:29:35
„ BAL MONTH/AUG24: DARE sold to CORNERCAP* 50kb
$-0.18/bbl 8:29:40
„ BAL MONTH/AUG24: DARE sold to TRAFI* 50kb $-0.20/
© 2024 by S&P Global Inc. All rights reserved.
bbl 8:29:49
„ BAL MONTH/AUG24: DARE sold to NATBANKABUDHABI*
50kb $-0.20/bbl 8:29:53
„ BAL MONTH/AUG24: VITOLSG* sold to MARKET 50kb
$-0.15/bbl 8:29:55
* Denotes market maker. All times GMT
Bids (PGA page 4017)
„ BAL MONTH/AUG24: NATBANKABUDHABI bids 50kb
$-0.2/bbl
„ BAL MONTH/AUG24: NATBANKABUDHABI bids 50kb
$-0.2/bbl
„ BAL MONTH/AUG24: CMTENERGY bids 50kb $-0.25/bbl
„ BAL MONTH/AUG24: DARE bids 50kb $-0.25/bbl
„ BAL MONTH/AUG24: SINOHKPET bids 50kb $-0.25/bbl
„ BAL MONTH/AUG24: AGT bids 50kb $-0.3/bbl
„ BAL MONTH/AUG24: DVTRADING bids 50kb $-0.3/bbl
„ BAL MONTH/AUG24: RONGPETRO bids 50kb $-0.3/bbl
„ BAL MONTH/AUG24: CONDACAP bids 50kb $-0.35/bbl
„ AUG24/SEP24: CORNERCAP bids 50kb $-0.12/bbl
„ AUG24/SEP24: DARE bids 50kb $-0.13/bbl
„ AUG24/SEP24: DVTRADING bids 50kb $-0.13/bbl
„ AUG24/SEP24: MERCURIARESOURCES bids 50kb $-0.13/bbl
„ AUG24/SEP24: AGT bids 50kb $-0.14/bbl
„ AUG24/SEP24: CMTENERGY bids 50kb $-0.14/bbl
„ AUG24/SEP24: PRIME bids 50kb $-0.14/bbl
„ AUG24/SEP24: DVTRADING bids 50kb $-0.15/bbl
„ AUG24/SEP24: ERACOMM bids 50kb $-0.15/bbl
„ AUG24/SEP24: HOTEI bids 50kb $-0.15/bbl
„ AUG24/SEP24: SINOHKPET bids 50kb $-0.15/bbl
„ AUG24/SEP24: CONDACAP bids 50kb $-0.2/bbl
Withdrawals
„ BAL MONTH/AUG24: PRIME no longer bids 50kb $-0.17/bbl
„ BAL MONTH/AUG24: CORNERCAP no longer bids 50kb
$-0.18/bbl
„ BAL MONTH/AUG24: TRAFI no longer bids 50kb $-0.2/bbl
** Denotes OCO order.
Offers (PGA page 4018)
34
„ BAL MONTH/AUG24: DARE offers 50kb $-0.14/bbl
„ BAL MONTH/AUG24: AGT offers 50kb $-0.13/bbl
„ BAL MONTH/AUG24: TRAFI offers 50kb $-0.1/bbl
„ BAL MONTH/AUG24: CMTENERGY offers 50kb $-0.05/bbl
„ BAL MONTH/AUG24: CONDACAP offers 50kb $-0.05/bbl
„ BAL MONTH/AUG24: DVTRADING offers 50kb $-0.05/bbl
„ BAL MONTH/AUG24: SINOHKPET offers 50kb $-0.05/bbl
„ AUG24/SEP24: AGT offers 50kb $-0.06/bbl
„ AUG24/SEP24: FREEPTASIA offers 50kb $-0.06/bbl
„ AUG24/SEP24: CMTENERGY offers 50kb $-0.05/bbl
„ AUG24/SEP24: CONDACAP offers 50kb $-0.05/bbl
„ AUG24/SEP24: DVTRADING offers 50kb $-0.05/bbl
„ AUG24/SEP24: ERACOMM offers 50kb $-0.05/bbl
„ AUG24/SEP24: HOTEI offers 50kb $-0.05/bbl
„ AUG24/SEP24: DARE offers 50kb $-0.04/bbl
„ AUG24/SEP24: MERCURIARESOURCES offers 50kb
$-0.02/bbl
„ AUG24/SEP24: PRIME offers 50kb $-0.02/bbl
„ AUG24/SEP24: CORNERCAP offers 50kb $0.00/bbl
Withdrawals
„ BAL MONTH/AUG24: VITOLSG no longer offers 50kb
$-0.15/bbl
** Denotes OCO order.
FO 180 CST 3.5% FOB Spore Paper
Trades (PGA page 4027)
„ No trades reported
* Denotes market maker. All times GMT
Bids (PGA page 4025)
„ No bids reported
Withdrawals
„ No bids reported
** Denotes OCO order.
Offers (PGA page 4026)
„ No offers reported
Withdrawals
„ No offers reported
Asia-Pacific/Arab Gulf Marketscan July 12, 2024
** Denotes OCO order.
FO 380 CST 3.5% FOB Spore Paper
Trades (PGA page 4027)
„ AUG24: ONYX* sold to HOTEI 5kt $505.00/mt 8:29:11
„ AUG24: ONYX* sold to HOTEI 5kt $505.00/mt 8:29:16
„ AUG24: ONYX* sold to HOTEI 5kt $505.00/mt 8:29:22
„ AUG24: DARE* sold to FREEPTASIA 5kt $505.00/mt 8:29:28
„ AUG24: DARE sold to HOTEI* 5kt $505.00/mt 8:29:33
„ AUG24: DARE sold to HOTEI* 5kt $504.95/mt 8:29:36
„ AUG24: DARE* sold to HOTEI 5kt $505.00/mt 8:29:40
„ AUG24: ONYX sold to HOTEI* 5kt $504.95/mt 8:29:43
„ AUG24: DARE* sold to HOTEI 5kt $505.00/mt 8:29:48
„ AUG24: DARE sold to HOTEI* 5kt $504.95/mt 8:29:55
„ AUG24: ONYX sold to GOODECAPLTD* 5kt $504.80/
mt 8:29:56
„ BAL MONTH: ONYX sold to BPSG* 5kt $6.25/mt 8:29:55
* Denotes market maker. All times GMT
Bids (PGA page 4025)
„ BAL MONTH: P66SG bids 5kt $5.50/mt
„ BAL MONTH: BPSG bids 5kt $4.50/mt
„ BAL MONTH: VITOLSG bids 5kt $3.00/mt
„ AUG24: GOODECAPLTD bids 5kt $6.75/mt
„ AUG24: DARE bids 5kt $6.50/mt
„ AUG24: ONYX bids 5kt $6.50/mt
„ AUG24: P66SG bids 5kt $6.50/mt
„ AUG24: PETROCHINA bids 5kt $6.50/mt
„ SEP24: ONYX bids 5kt $7.75/mt
„ AUG24: FREEPTASIA bids 5kt $504.75/mt
„ AUG24: HOTEI bids 5kt $504.75/mt
„ AUG24: UENERGY bids 10kt $504.50/mt
„ AUG24: VITOLSG bids 5kt $504.50/mt
„ AUG24: ONYX bids 5kt $504.25/mt
„ AUG24: ONYX bids 5kt $504.25/mt
„ AUG24: UENERGY bids 5kt $504.25/mt
© 2024 by S&P Global Inc. All rights reserved.
„ AUG24: DARE bids 5kt $504.00/mt
„ AUG24: ONYX bids 5kt $504.00/mt
„ AUG24: ERACOMM bids 5kt $503.75/mt
„ AUG24: THEMEINT bids 5kt $503.75/mt
„ AUG24: DARE bids 5kt $503.50/mt
„ AUG24: FREEPTASIA bids 5kt $503.50/mt
„ AUG24: ANVIK bids 5kt $503.25/mt
„ AUG24: DARE bids 5kt $503.00/mt
„ BAL MONTH: GOODECAPLTD bids 5kt $512.25/mt
„ BAL MONTH/AUG24: P66SG bids 5kt $8.00/mt
„ BAL MONTH/AUG24: BPSG bids 5kt $7.50/mt
„ BAL MONTH/AUG24: HENGLIPET bids 5kt $7.50/mt
„ BAL MONTH/AUG24: PETROCHINA bids 5kt $7.50/mt
„ BAL MONTH/AUG24: TOTSA bids 5kt $7.50/mt
„ BAL MONTH/AUG24: GOODECAPLTD bids 5kt $7.00/mt
„ BAL MONTH/AUG24: THEMEINT bids 5kt $7.00/mt
„ BAL MONTH/AUG24: VITOLSG bids 5kt $7.00/mt
„ BAL MONTH/AUG24: GOODECAPLTD bids 5kt $6.75/mt
„ AUG24/SEP24: DARE bids 5kt $15.25/mt
„ AUG24/SEP24: HOTEI bids 5kt $15.25/mt
„ AUG24/SEP24: ONYX bids 5kt $15.25/mt
„ AUG24/SEP24: THEMEINT bids 5kt $15.25/mt
„ AUG24/SEP24: P66SG bids 5kt $15.00/mt
„ AUG24/SEP24: THEMEINT bids 5kt $15.00/mt
„ AUG24/SEP24: VITOLSG bids 5kt $14.75/mt
„ AUG24/SEP24: CONDACAP bids 5kt $14.50/mt
Withdrawals
„ BAL MONTH: BPSG Withdraws bid 5kt $5.25/mt
„ BAL MONTH: GOODECAPLTD Withdraws bid 5kt $5.00/mt
„ BAL MONTH: P66SG Withdraws bid 5kt $4.00/mt
„ BAL MONTH: BPSG Withdraws bid 5kt $3.00/mt
„ BAL MONTH: BPSG no longer bids 5kt $6.25/mt
„ AUG24: HOTEI no longer bids 5kt $505.00/mt
„ AUG24: HOTEI no longer bids 5kt $504.95/mt
„ AUG24: GOODECAPLTD no longer bids 5kt $504.80/mt
„ BAL MONTH/AUG24: THEMEINT Withdraws bid 5kt $7.00/mt
35
** Denotes OCO order.
Offers (PGA page 4026)
„ BAL MONTH: ONYX offers 5kt $6.75/mt
„ BAL MONTH: GOODECAPLTD offers 5kt $6.95/mt
„ BAL MONTH: DARE offers 5kt $7.00/mt
„ BAL MONTH: P66SG offers 5kt $7.00/mt
„ BAL MONTH: VITOLSG offers 5kt $7.50/mt
„ BAL MONTH: BPSG offers 5kt $8.00/mt
„ BAL MONTH: BPSG offers 5kt $10.00/mt
„ AUG24: P66SG offers 5kt $7.25/mt
„ AUG24: GOODECAPLTD offers 5kt $7.50/mt
„ AUG24: ONYX offers 5kt $7.75/mt
„ AUG24: PETROCHINA offers 5kt $7.75/mt
„ SEP24: GOODECAPLTD offers 5kt $8.50/mt
„ SEP24: GOODECAPLTD offers 5kt $9.50/mt
„ SEP24: ONYX offers 5kt $9.50/mt
„ AUG24: DARE offers 5kt $505.50/mt
„ AUG24: ONYX offers 5kt $505.50/mt
„ AUG24: VITOLSG offers 5kt $506.00/mt
„ AUG24: DARE offers 5kt $506.25/mt
„ AUG24: GOODECAPLTD offers 5kt $506.25/mt
„ AUG24: UENERGY offers 10kt $506.25/mt
„ AUG24: ANVIK offers 5kt $506.50/mt
„ AUG24: ERACOMM offers 5kt $507.00/mt
„ AUG24: HOTEI offers 5kt $507.00/mt
„ AUG24: UENERGY offers 5kt $507.00/mt
„ AUG24: THEMEINT offers 5kt $507.05/mt
„ AUG24: HOTEI offers 5kt $507.25/mt
„ BAL MONTH/AUG24: ONYX offers 5kt $8.50/mt
„ BAL MONTH/AUG24: GOODECAPLTD offers 5kt $8.75/mt
„ BAL MONTH/AUG24: MAERSK offers 5kt $9.00/mt
„ BAL MONTH/AUG24: VITOLSG offers 5kt $9.00/mt
„ BAL MONTH/AUG24: BPSG offers 5kt $9.25/mt
„ BAL MONTH/AUG24: P66SG offers 5kt $9.50/mt
„ BAL MONTH/AUG24: PETROCHINA offers 5kt $9.50/mt
Asia-Pacific/Arab Gulf Marketscan July 12, 2024
„ BAL MONTH/AUG24: BPSG offers 5kt $10.00/mt
„ BAL MONTH/AUG24: HENGLIPET offers 5kt $10.00/mt
„ AUG24/SEP24: P66SG offers 5kt $15.50/mt
„ AUG24/SEP24: FREEPTASIA offers 5kt $15.75/mt
„ AUG24/SEP24: GOODECAPLTD offers 5kt $15.75/mt
© 2024 by S&P Global Inc. All rights reserved. 36
„ AUG24/SEP24: GOODECAPLTD offers 5kt $15.75/mt
„ AUG24/SEP24: HOTEI offers 5kt $15.75/mt
„ AUG24/SEP24: THEMEINT offers 5kt $15.75/mt
„ AUG24/SEP24: VITOLSG offers 5kt $15.75/mt
„ AUG24/SEP24: CONDACAP offers 5kt $16.50/mt
Withdrawals
„ BAL MONTH: GOODECAPLTD Withdraws offer 5kt $8.00/mt
„ BAL MONTH: GOODECAPLTD Withdraws offer 5kt $10.00/mt
„ AUG24: DARE no longer offers 5kt $505.00/mt
„ AUG24: ONYX no longer offers 5kt $505.00/mt
** Denotes OCO order.
APPEC 2024

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