Apag 20240322

Now available digitally on Platts Connect
Get access to this content

plattsconnect.spglobal.com | ci.support@spglobal.com
Asia-Pacific/Arab Gulf Marketscan

Volume 43 / Issue 58 / March 22, 2024
Asia products
Code Mid Change Code Mid Change Code Mid Change
Singapore (PGA page 2002)
FOB Singapore ($/barrel) MOPS strip Premium/Discount
Naphtha PAAAP00 75.76–75.80 75.780 -0.970 AAPKA00 75.19–75.23 75.210 -0.380
Gasoline 97 unleaded PGAMS00 106.09–106.13 106.110 +0.850 AAPKE00* 30.88/30.92 30.900 +1.230
Gasoline 95 unleaded PGAEZ00 105.53–105.57 105.550 +0.770 AAPKF00* 30.32/30.36 30.340 +1.150
Gasoline 95 unleaded AGUMS00 104.750 +0.100 AGUMA00**** 0.800 +0.670
Gasoline 92 unleaded PGAEY00 100.92–100.96 100.940 +0.390 AAPKG00* 25.71/25.75 25.730 +0.770
Gasoline 92 unleaded AAXEQ00 100.13–100.17 100.150 +0.100 AAXER00 0.77/0.81 0.790 +0.290
Gasoline 91 unleaded AAYNA00 103.150 +0.100 AAYNB00 3.000 0.000
Gasoline 92 unleaded 500 ppm PGAFY00*** 0.885 +0.280
CFR Naphtha AAOVF00 79.010 -0.680 AAOVG00 3.800 -0.300
Kerosene PJABF00 103.10–103.14 103.120 -0.650 AAPJZ00 102.88–102.92 102.900 -0.390 PJACU00 0.20/0.24 0.220 -0.260
Gasoil 10 ppm AAOVC00 104.17–104.21 104.190 -0.220 AAOVD00** -0.36/-0.32 -0.340 +0.050
Gasoil 50 ppm AAPPF00 103.84–103.88 103.860 -0.230 AAPPH00** -0.69/-0.65 -0.670 +0.040
Gasoil 0.05% sulfur AAFEX00 103.22–103.26 103.240 -0.260 AAFFB00** -1.31/-1.27 -1.290 +0.010
Gasoil 0.25% sulfur AACUE00 101.92–101.96 101.940 -0.260 AACQI00** -2.61/-2.57 -2.590 +0.010
Gasoil POABC00 104.17–104.21 104.190 -0.220 AAPJY00 104.51–104.55 104.530 -0.270 POAIC00** -0.36/-0.32 -0.340 +0.050
FO 180 CST 2% ($/mt) PUAXS00 497.88–497.92 497.900 +0.300
HSFO 180 CST ($/mt) PUADV00 486.92–486.96 486.940 +0.290 AAPJX00 492.72–492.76 492.740 +0.040 AAGZF00 -5.82/-5.78 -5.800 +0.250
HSFO 380 CST ($/mt) PPXDK00 470.13–470.17 470.150 -1.720 AAPJW00 473.16–473.20 473.180 -1.610 PPXDL00 -3.05/-3.01 -3.030 -0.110
Marine Fuel 0.5% ($/mt) AMFSA00 622.810 +0.310 FOFSA00 621.230 +0.150 FOFSB00 1.580 +0.160
Ex-Wharf 380 CST ($/mt) AAFER00 473.50–474.50 474.000 -2.000
Ex-Wharf 500 CST ($/mt) AAVUP00 468.50–469.50 469.000 -2.000
Bitumen Pen 60-70 ($/mt) BTSGA00 405.000 0.000 BTSGB00***** -68.180 +1.610
*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 624.63–632.63 628.630 -0.150 AAPKH00 39.75/40.25 40.000 -3.000
Naphtha LR2 ($/mt) 628.51–636.51 632.510 +0.420
Platts Asia and Middle Eastern Gasoline
AAIDA00
Gasoline 95 unleaded AAICY00 99.68–99.72 99.700 +0.850 AAWUJ00 7.98/8.02 8.000 +0.050
Gasoline 95 unleaded CFR AAWUK00 11.43/11.47 11.450 Daily Market Analysis
Gasoline 92 unleaded AAGJA00 95.090 +0.470 AAGZA00 7.950 +0.050
Kerosene PJAAA00 97.17–97.21 97.190 -0.510 PJACV00 3.43/3.47 3.450 0.000
Gasoil 10 ppm AAIDT00 97.88–97.92 97.900 -0.070 AAIDU00* 2.18/2.22 2.200 0.000
Thailand’s Bangchak refinery slated for May
Gasoil 0.005% sulfur AASGJ00 97.43–97.47 97.450 -0.070 AASGK00* 1.73/1.77 1.750 0.000 turnaround
Gasoil 0.05% sulfur AAFEZ00 96.88–96.92 96.900 -0.070 AAFFD00* 1.18/1.22 1.200 0.000
Gasoil 0.25% sulfur AACUA00 95.00–95.04 95.020 -0.070 AACUC00* -0.70/-0.66 -0.680 0.000 Singapore’s gasoline exports plunge on week
Gasoil POAAT00 97.88–97.92 97.900 -0.070 POAID00* 2.18/2.22 2.200 0.000
HSFO 180 CST ($/mt) PUABE00 458.96–459.00 458.980 +0.360 AAXJA00 6.98/7.02 7.000 0.000
HSFO 380 CST ($/mt) AAIDC00 442.17–442.21 442.190 -1.650 AAXJB00 9.98/10.02 10.000 0.000 The Asian gasoline complex strengthened March
HSFO 380/180 spread ($/mt) PPXDM00 -16.81/-16.77 -16.790 -2.010
Marine Fuel 0.5% Fujairah ($/mt) FOFFB00*** 2.000 +1.000 22, on the back of a widening US RBOB-Brent crack
Ex-Wharf Fujairah 380 CST** ($/mt) AAYBG00 -2.330 -0.430 spread, ahead of planned refinery turnarounds and
*Premium to MOPAG gasoil during loading. **Ex-Wharf differential represents premium/discount to the MOPAG 180 CST strip. ***MF 0.5% differential despite lackluster regional demand.
represents premium/discount to the MOPFUJ MF 0.5% strip.
The US RBOB-Brent crack was pegged at $28.65/b
www.spglobal.com/commodityinsights
Asia-Pacific/Arab Gulf Marketscan March 22, 2024
Asia products at 0300 GMT March 22, up from the Platts assessment
Code Mid Change Code Mid Change
of $28.24/b at the Asian close March 21, S&P Global
Middle East physical oil assessments (PGA pages 2004 and 2018) Commodity Insights data showed.
FOB Fujairah ($/barrel) MOPAG Strip Thailand’s Bangchak refinery will carry out a
Naphtha ($/mt) NFJSA00 677.700 -6.180 NFJTA00 637.700 -3.180 planned maintenance at its 120,000 b/d Phra Khanong
Gasoline 95 unleaded AFUJA00 106.550 +0.170 AFUJB00 98.550 +0.120
Gasoline 92 unleaded RFJFS00 101.900 +0.170 RAGTA00 93.950 +0.120 refinery in May, where the refinery will be fully shut, a
Kerosene AFUJF00 101.750 -0.260 AFUJG00 98.300 -0.260 spokesperson said in a statement.
Gasoil 10 ppm AFUJP00 101.830 -0.150
Gasoil 500 ppm AFUJN00 100.830 -0.150 In a separate statement, Bangchak confirmed it
Gasoil AFUJK00 101.830 -0.150 AFUJL00 99.630 -0.150 plans to run its newly acquired 174,000 b/d Sriracha
HSFO 380 CST ($/mt) AFUJQ00 453.590 -0.690 AFUJR00 443.590 -0.690
Ex-Wharf 380 CST ($/mt) AAYBF00 459.000 0.000 AAYBD00 461.330 +0.430 refinery at a rate of 155,000 b/d in 2024, which would
MOPFUJ Strip be the highest ever for the plant, S&P Global previously
Marine Fuel 0.5% ($/mt)** AMFFA00 626.110 +0.060 FOFFA00 624.110 -0.940 reported.
*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 987.25–989.25 988.250 +3.250
Mar 18 (PGA page 2022)
Singapore demurrage (PGT pages 2910 and 2960) Light distillates FUJLD04 7530 +447
$/day Middle distillates FUJMD04 1877 +377
Demurrage Clean AALPY00 45500.000 -500.000 Heavy distillates and residues FUJHD04 10642 +1025
Demurrage Dirty AALQA00 53000.000 -1000.000 Source: FEDCom, S&P Global Commodity Insights
Singapore paper (PGA page 2655)
Balance March ($/barrel) April ($/barrel) May ($/barrel)

Naphtha Japan ($/mt) RAXFM00 NA NANA AAXFE00 702.25–702.75 702.500 -4.250 AAXFF00 691.25–691.75 691.500 -4.750
Naphtha AAPLD00 NA–NA NA NANA PAAAQ00 75.13–75.17 75.150 -0.350 PAAAR00 73.93–73.97 73.950 -0.400
Gasoline 95 unleaded AGUMB00 NA NANA AGUMM01 104.680 +0.130 AGUMM02 103.250 -0.140
Gasoline 92 unleaded AAXEK00 NA–NA NA NANA AAXEL00 100.06–100.10 100.080 +0.130 AAXEM00 98.63–98.67 98.650 -0.140
Reforming Spread AAXEN00 NA/NA NA NANA AAXEO00 24.91/24.95 24.930 +0.480 AAXEP00 24.68/24.72 24.700 +0.260
Kerosene AAPLE00 102.88–102.92 102.900 -0.660 PJABS00 102.88–102.92 102.900 -0.380 PJABT00 102.93–102.97 102.950 -0.260
Gasoil AAPLF00 104.16–104.20 104.180 -0.210 POAFC00 104.51–104.55 104.530 -0.260 POAFG00 104.41–104.45 104.430 -0.270
HSFO 180 CST ($/mt) AAPML00 489.43–489.47 489.450 -0.250 PUAXZ00 492.68–492.72 492.700 0.000 PUAYF00 491.93–491.97 491.950 -0.700
HSFO 380 CST ($/mt) AAPKB00 470.68–470.72 470.700 -1.750 AAPKC00 473.23–473.27 473.250 -1.700 AAPKD00 474.73–474.77 474.750 -2.150
Gasoil EFS ($/mt) AAQTX00 NA NANA AAQTY00 -48.250 +1.060 AAQTZ00 -36.000 +3.740
Arab Gulf Front Month Swaps (PGA page 2638)
Balance March* ($/barrel) April ($/barrel) May ($/barrel)

Naphtha ($/mt) NAGFM00 NA NANA NAGFM01 638.860 -2.910 NAGFM02 632.940 -3.410
Gasoline 95 unleaded AFUIM00 NA NANA AFUIM01 98.830 +0.210 AFUIM02 97.400 -0.060
Gasoline 92 unleaded RAGFM00 NA NANA RAGFM01 94.230 +0.210 RAGFM02 92.800 -0.060
Kerosene AFUAM00 97.080 -0.400 AFUAM01 98.220 -0.290 AFUAM02 98.630 -0.160
Gasoil AFUJM00 98.010 +0.070 AFUJM01 99.570 -0.160 AFUJM02 99.840 -0.180
HSFO 180 CST** AADZB00 NA NANA AADZM01 462.250 0.000 AADZM02 464.250 -0.750
HSFO 380 CST AFURM00 NA NANA AFURM01 442.750 -0.750 AFURM02 447.000 -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 products Brokers pegged the front-month FOB Singapore 92

RON gasoline swaps crack spread against Brent swaps
Japan physical oil assessments (PGA page 2006) in the $14.45-$14.50/b range at 0300 GMT, up from
C+F Japan ($/mt) Premium/Discount the Platts assessment at $14.29/b at the Asian close
Naphtha (min 70%) NCJCA00 714.250 -2.250 NCJCB00 16.000 -4.000
March 21.
Naphtha PAAAD00 710.25–718.25 714.250 -2.250 PAADI00 15.75/16.25 16.000 -4.000
Nph 1st 1/2 May PAAAE00 721.75–722.25 722.000 -8.750 Brokers pegged the physical FOB Singapore 92 RON
Nph 2nd 1/2 May PAAAF00 717.75–718.25 718.000 -3.500 gasoline crack against front-month ICE Brent crude oil
Nph 1st 1/2 Jun PAAAG00 710.25–710.75 710.500 -1.000
Naphtha MOPJ Strip AAXFH00 686.50–687.00 686.750 -4.880 AAXFI00 27.25/27.75 27.500 +2.620 futures in the $14.50-$14.55/b range at 0300 GMT, up
C+F Japan ($/barrel) Premium/Discount from the Platts assessment at $14.25/b on March 21.
Gasoline 91-92 unleaded PGACW00 105.57–105.61 105.590 +0.390 Possibly reflecting slow regional demand for
Gasoline 95 unleaded PGAQQ00 110.18–110.22 110.200 +0.770
Kerosene PJAAN00 104.76–104.80 104.780 -0.390 PAADK00 1.86/1.90 1.880 0.000 gasoline, Singapore’s gasoline exports plunged 83.4%
FOB Japan ($/barrel) Premium/Discount on the week to 112,665 mt, outpacing a 33.99%
Gasoil POJAP00 102.430 -0.470 POJBP00 -2.100 -0.200 fall in imports to 197,664 mt from a week ago. This
South Korea physical oil assessments (PGA page 2008) flipped Singapore into a net importer of gasoline, with
C+F Korea ($/mt) Premium/Discount Enterprise Singapore data showing a total net import
Naphtha PAADE00 727.50–728.00 727.750 -5.750 PAADG00 13.25/13.75 13.500 -3.500 of 84,998 mt compared with the previous week, when
C+F East Asia ($/mt) Premium/Discount net exports totaled 379,252 mt, S&P Global previously
Naphtha** CFRCT00 724.750 -5.750 CFRCD00 10.500 -3.500
reported.
FOB Korea ($/barrel) Premium/Discount
Gasoline 95 unleaded PGAQO00 104.96–105.00 104.980 +1.360
In tenders, Taiwan’s Formosa was heard selling
Jet PJADG00 101.98–102.02 102.000 -0.390 PJADI00 -0.92/-0.88 -0.900 0.000 around 250,000 barrels of 93 RON gasoline for April
Gasoil POAIE00 102.51–102.55 102.530 -0.470 POAIG00 -2.02/-1.98 -2.000 -0.200
Bitumen Pen 60-80 ($/mt) BTKRA00 395.000 0.000 BTKRB00* -78.180 +1.610
18-22 loading, at a premium of around $2/b to the April
*Indicates relationship between premium/discount and HSFO 380 CST MOPS Strip. **All-origin naphtha from commercial tanks.
average Mean of Platts Singapore 92 RON gasoline
assessments, FOB.
Mean of Platts West India netbacks (PGA page 2012)
FOB India ($/mt) FOB India ($/barrel)

Naphtha AAQWK00 649.890 -1.220 AAQWJ00 72.210 -0.140
Platts Singapore Gasoline Rationales &
Gasoline (92 RON) AARBQ00 819.100 +3.860 AARBP00 96.360 +0.450 Exclusions
Gasoline (95 RON) AAQWI00 858.290 +7.100 AAQWH00 100.970 +0.830
Gasoline Unl 92 FOB Spore Cargo <PGAEY00>
Jet kero AAQWM00 775.760 -4.580 AAQWL00 98.200 -0.580
Gasoil 10 ppm AAQWO00 737.330 -1.080 AAQWN00 98.970 -0.150 assessment rationale: The FOB Singapore 92 RON
Gasoil 500 ppm AAQWQ00 730.250 -1.390 AAQWP00 98.020 -0.190 gasoline assessment March 22 took into consideration
Gasoil 2500 ppm AAQWS00 720.560 -1.390 AAQWR00 96.720 -0.190
a trade for a cargo loading over April 9-13 at $101.00/b,
Australia (PGA page 2014)
an offer for a cargo loading over April 10-14 at
C+F Australia ($/barrel) $101.00/b, and a bid for a cargo loading over April 12-16
Gasoline 92 AACZF00 108.29–108.33 108.310 +0.390
Gasoline 95 AACZH00 112.90–112.94 112.920 +0.770 at $100.88/b.
Jet AAFIY00 111.03–111.07 111.050 -0.650 Gasoline Unl 95 FOB Spore Cargo <PGAEZ00>
Gasoil 10 ppm AAQUD00 112.58–112.62 112.600 -0.220
assessment rationale: The FOB Singapore 95 RON
South Africa (PGA pages 2342 and 2412) gasoline assessment March 22 took into consideration
CFR South Africa ($/barrel) a trade for a cargo loading over April 12-16 at $105.53/b.
Gasoline 95 unleaded AAQWW00 115.096 +0.063
Jet kero AAQWT00 110.945 -0.375
Gasoline Unl 97 FOB Spore Cargo <PGAMS00>
Gasoil 10 ppm AAQWU00 111.580 -0.272 assessment rationale: The FOB Singapore 97 RON
Gasoil 500 ppm AAQWV00 110.580 -0.272

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 ($/mt)
SAF Cost of Production BJNWA00 1998.136 +0.052
AG-Spore Spore-Japan AG-Japan Spore-Australia SAF CIF ARA MIRWD00 2857.250 +2.000
Naphtha AAPOF00 39.56* AAPOG00 85.62* SAF CIF ARA Premium MIRWF00 2000.000 0.000
Naphtha-LR2 AAPOH00 81.74* HVO HVNWA00 1840.377 +0.352
Gasoline AAPOC00 5.85 AAPOD00 4.65 AAPOE00 7.37
USWC ($/mt)
Kerosene AAPOI00 5.93 AAPOJ00 7.93
SAF Cost of Production w/ credits ASAFA00 1528.807 +3.071
Gasoil AAPOL00 6.29 AAPOM00 8.41
SAF Cost of Production w/o credits ASAFB00 602.585 +13.950
HSFO 180 CST AAPOO00 27.96* AAPOP00 23.13*
RD w/ credits ARDFA00 1478.460 +2.003
HSFO 380 CST AAPOQ00 27.96*
RD w/o credits ARDFB00 669.264 +13.533
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 188.853 +0.380

South China ($/mt)
Premium/Discount to MOPS ($/barrel) SAF Cost of Production w/o credits ASAFF00 74.437 +1.723
RD w/ credits ARDFE00 183.172 +0.248
Gasoline 92 unleaded AAICW00 849.25–853.25 851.250 +6.000
RD w/o credits ARDFF00 82.918 +1.677
Jet/kero PJABQ00 829.25–833.25 831.250 -3.000 AAWTW00 2.29/2.33 2.310 0.000
USWC (¢/gal)
Gasoil POAFA00 780.75–784.75 782.750 -3.500 AABJZ00 0.53/0.57 0.550 -0.200
SAF Cost of Production w/ credits ASAFI00 449.649 +0.903

Hong Kong bunker grades ($/mt) SAF Cost of Production w/o credits ASAFJ00 177.231 +4.103
HSFO 380 CST PUAER00 494.50–495.50 495.000 0.000 RD w/ credits ARDFI00 436.124 +0.591
RD w/o credits ARDFJ00 197.423 +3.992
*C+F Hong Kong, $/barrel premium/discount to Mean of Platts Singapore.
Southeast Asia ($/mt)
SAF Cost of Production (PFAD) ASFAA00 1505.650 -7.500
HVO (PFAD) HVSAB00 1397.080 -7.210
Marine Fuel (PGA page 30) North Asia ($/mt)
$/mt Change vs FO 380 MOPS strip Change SAF Cost of Production (UCO) ASFAC00 1649.290 -6.760
0.5% FOB Singapore cargo AMFSA00 622.810 +0.310 AMOPA00 149.630 +1.920 HVO (UCO) HVNAA00 1529.550 -6.510
0.5% FOB Fujairah cargo AMFFA00 626.110 +0.060
0.5% FOB Rotterdam barge PUMFD00 585.000 +2.500
0.5% FOB US Gulf Coast barge AUGMB00 609.500 -7.750 Jet Index (PGA page 115)
0.5% Dlvd US Atlantic Coast barge AUAMB00 620.000 -7.500
Index $/barrel
0.5% FOB Mediterranean cargo MFFMM00 587.750 +2.500
Asia & Oceania PJASO00 296.54 PJASO08 103.79
0.5% CIF Mediterranean cargo MFCMM00 602.000 +1.750
Mid East & Africa PJMEA00 304.41 PJMEA08 101.94
$/barrel Change
Global PJGLO00 293.69 PJGLO08 107.44
0.5% FOB US Gulf Coast barge AUGMA00 95.980 -1.220
0.5% Dlvd US Atlantic Coast barge AUAMA00 97.640 -1.180
Marine Fuel 0.5% Derivatives, Mar 22 Foreign exchange rates (PGA page 2160)
Balance* Change Month 1 Change Month 2 Change USD/JPY AAWFX00 151.475 +0.195
Eur/USD AAWFU00 1.0815 -0.0100
Mar Apr May
USD/SGD AAWFZ00 1.3422 0.0000
$/mt $/mt $/mt USD/MYR AAWGA00 4.7401 +0.0301
0.5% FOB Singapore cargo FOFS000 622.950 -0.050 FOFS001 621.000 +0.250 FOFS002 616.300 -0.400 USD/HKD AAWFY00 7.8179 -0.0025
0.5% FOB Fujairah cargo FOFF000 NA NANA FOFF001 624.500 -0.750 FOFF002 622.500 -1.500 AUD/USD AAWFT00 0.6512 -0.0105
0.5% FOB Rotterdam barge AMRAB00 NA NANA AMRAM01 581.500 +1.750 AMRAM02 574.000 +1.250 USD/INR AAFGW00 83.3550 +0.2310
0.5% vs. 3.5% FOB Rotterdam barge AMRBB00 NA NANA AMRBM01 112.250 +1.250 AMRBM02 101.000 +0.750 USD/CNY* AAWFW00 7.1004 +0.0062
$/barrel $/barrel $/barrel *Source: Bank of China
0.5% FOB US Gulf Coast barge AMARB00 NA NANA AMARM01 94.200 -1.000 AMARM02 92.950 -0.650
0.5% vs US Gulf Coast HSFO barge AUSBB00 NA NANA AUSBM01 22.250 -0.600 AUSBM02 20.300 -0.350
*Balance month swaps are assessed from the 1st through the 20th of the month; Asia swaps are assessed through the 14th of February.

gasoline assessment March 22 took into consideration Carbon Intensity (PGA page 4207)
Daily Carbon Intensity Premium Monthly Carbon Intensity
the adjusted 97/95 Inter-RON spread, taking into
Asia $/bbl Date kgCO2e/bbl
account today’s wider 95/92 Inter-RON spread in the
Gasoline Unl 92 FOB Singapore Cargo ALCEJ00 0.621 ALCEI00 Feb-24 48.16
absence of demonstrable bids, offers and trades. Jet Kero FOB Singapore Cargo ALCEL00 0.244 ALCEK00 Feb-24 18.93
Gasoline Unl 92 FOB Arab Gulf Cargo <AAGJA00> Gasoil 10ppm FOB Singapore Cargo ALCEH00 0.368 ALCEG00 Feb-24 28.54
assessment rationale: The FOB Arab Gulf 92 RON United States Gulf Coast ¢/gal Date kgCO2e/gal
gasoline cargo assessment was derived as a freight Gasoline CBOB USGC Prompt Pipeline ALCEN00 1.316 ALCEM00 Feb-24 1.02
Jet Kero 54 USGC Prompt Pipeline ALCEP00 0.619 ALCEO00 Feb-24 0.48
netback from the FOB Singapore 92 RON marker ULSD USGC Prompt Pipeline ALCER00 0.800 ALCEQ00 Feb-24 0.62
using the following calculation: FOB Singapore 92 RON Northwest Europe $/mt Date kgCO2e/mt
assessment minus the cost of transporting a 35,000- Gasoline Eurobob (E5) FOB NWE Barge ALCEB00 4.854 ALCEA00 Feb-24 376.28
mt clean cargo from a basket of ports in the Persian Jet FOB NWE Barge ALCED00 2.211 ALCEC00 Feb-24 171.36
ULSD 10ppm FOB NWE Barge ALCEF00 2.491 ALCEE00 Feb-24 193.12
Gulf to Singapore.
Exclusions: No data was excluded from the Asian
gasoline Platts Market on Close assessment process as the cash differential for Fujairah 95 RON gasoline at Carbon credits (PGA page 496)
Change
March 22. $8.00/b in the absence of bids, offers and trades in the
Platts CEC
No data was excluded from the Asian gasoline FOB Fujairah 95 RON gasoline MOC process. $/mtCO2e PCECA00 11.500 0.000
derivative MOC process March 22. The MOPAG 95 RON gasoline strip is calculated Jet Fuel Carbon Offset Premiums
Platts is part of S&P Global Commodity Insights. from April MOPAG 95 RON gasoline swap at $98.83/b $/b AJFCA00 55.324 0.000
and the May MOPAG 95 RON gasoline swap at
Platts FOB Fujairah Gasoline Daily Rationale & $97.40/b. The cash differential took into consideration
Exclusions values in the FOB Fujairah 95 RON gasoline market
Gasoline 92 RON FOB Fujairah cargo <RFJFS00> heard in the Middle East. Platts Asia and Middle Eastern Naphtha
assessment rationale: The assessment of FOB Fujairah Exclusions: No data was excluded from the Asian Daily Market Analysis
92 RON gasoline March 22 took into consideration the gasoline MOC process March 22.
South Korea’s GS Caltex seeks naphtha for May-July
92 RON gasoline Mean of Platts Arab Gulf strip value of Platts is part of S&P Global Commodity Insights.
or July-Oct delivery
$93.95/b, as well as the cash differential for Fujairah 92
RON gasoline at $7.95/b in the absence of bids, offers Platts FOB Fujairah Gasoline Bids, Offers, Korean authorities probe petchem producers’
and trades in the FOB Fujairah 92 RON gasoline Platts Trades naphtha import origins
Market on Close assessment process.
The MOPAG 92 RON gasoline strip is calculated Bids: PLATTS FUJAIRAH MOGAS CARGO MOC: There was a trading lull in Asia’s naphtha market
from April MOPAG 92 RON gasoline swap at $94.23/b OUTSTANDING INTEREST: NO BIDS March 22 as sentiment in the derivatives market
and May MOPAG 92 RON gasoline swap at $92.80/b. Offers: PLATTS FUJAIRAH MOGAS CARGO MOC: firmed amid poor downstream petrochemical
The cash differential took into consideration values in OUTSTANDING INTEREST: NO OFFERS demand prompting lower cracker operations, market
the FOB Fujairah 92 RON gasoline market heard in the Trades: PLATTS FUJAIRAH MOGAS CARGO MOC: sources said.
Middle East. OUTSTANDING INTEREST: NO TRADES Brokers pegged the April-May Japan naphtha swap
Gasoline 95 RON FOB Fujairah cargo <AFUJA00> This assessment commentary applies to the spread 50 cents/mt higher at $11/mt in mid-morning
assessment rationale: The assessment of FOB Fujairah following market data codes: Gasoline 92 RON FOB Asian trade March 22. Platts assessed the spread at
95 RON gasoline March 22 took into consideration the Fujairah Cargo <RFJFS00> and Gasoline 95 RON FOB $10.50/mt at the Asian close March 21.
95 RON gasoline MOPAG strip value of $98.55/b, as well Fujairah Cargo <AFUJA00> “As the ethylene naphtha spread narrows, margins

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 903.25–903.75 903.500 +3.000 AAWZB00 928.00–928.50 928.250 +2.500
Naphtha PAAAI00 663.75–664.25 664.000 +7.250 PAAAH00 696.75–697.25 697.000 +6.500
Jet aviation fuel AAIDL00 811.50–812.00 811.750 +3.000
Gasoil 0.1% AAVJI00 783.75–784.25 784.000 +1.000 AAVJJ00 806.75–807.25 807.000 +0.500 AMOPI00 4.94 -0.120
10ppm ULSD AAWYY00 807.25–807.75 807.500 +0.750 AAWYZ00 832.00–832.50 832.250 +0.250 AMOPN00 4.96 -0.220
1% PUAAK00 524.25–524.75 524.500 +3.250 PUAAJ00 540.50–541.00 540.750 +2.500
3.5% PUAAZ00 464.50–465.00 464.750 +2.500 PUAAY00 480.50–481.00 480.750 +1.750
Northwest Europe cargoes (PGA page 1110)
CIF (Basis ARA) FOB NWE MOPL Diff
Gasoline 10ppm AAXFQ00 959.50–960.00 959.750 +9.500
Naphtha Swap PAAAJ00 695.00–695.50 695.250 +1.250
Naphtha Phy PAAAL00 719.00–719.50 719.250 +6.000
Jet PJAAU00 857.00–857.50 857.250 +2.000 PJAAV00 835.25–835.75 835.500 +2.250 AMOPJ00 -0.17 -0.300
Ultra low sulfur diesel 10ppm AAVBG00 841.75–842.25 842.000 +0.500 AAVBF00 827.75–828.25 828.000 +0.750 AMOPL00 9.41 -0.580
Gasoil 0.1% AAYWS00 808.75–809.25 809.000 +0.500 AAYWR00 781.50–782.00 781.750 +0.750 AMOPH00 0.37 -0.040
Diesel 10ppm NWE AAWZC00 844.75–845.25 845.000 +0.500 AAWZD00 827.50–828.00 827.750 +0.750
Diesel 10 PPM UK AAVBH00 847.00–847.50 847.250 +0.500 AUKMA00 14.663 -0.581
1% PUAAL00 524.25–524.75 524.500 +2.500 PUAAM00 503.75–504.25 504.000 +2.500
3.5% PUABA00 462.00–462.50 462.250 -2.250 PUABB00 443.25–443.75 443.500 -2.250
0.5-0.7% straight run PKABA00 617.50–618.50 618.000 -4.000
Low sulfur VGO AAHMZ00 699.00–700.00 699.500 0.000 AAHMX00 670.75–671.75 671.250 0.000
High sulfur VGO AAHND00 685.50–686.50 686.000 +0.250 AAHNB00 657.00–658.00 657.500 0.000
Northwest Europe barges (PGA pages 1112 & 1380)
FOB Rotterdam MOPL Diff
Eurobob AAQZV00 886.25–886.75 886.500 +17.250
E10 Eurobob AGEFA00 891.250 +20.500
Unleaded 98 AAKOD00 986.25–986.75 986.500 +17.250
Premium Unleaded PGABM00 891.75–892.25 892.000 +5.250
Reformate AAXPM00 992.500 +15.250
MTBE* PHALA00 1144.75–1145.25 1145.000 +8.500
Naphtha Phy PAAAM00 715.00–715.50 715.250 +6.000
Jet PJABA00 849.25–849.75 849.500 +2.000 AMOPK00 -3.78 -0.760
Gasoil 50 ppm AAUQC00 812.25–812.75 812.500 +15.500
Gasoil 0.1%* AAYWT00 789.25–789.75 789.500 +1.250 AMOPG00 -0.71 +0.200
10 ppm* AAJUS00 829.00–829.50 829.250 +3.000 AMOPM00 2.87 +2.250
1% PUAAP00 503.75–504.25 504.000 +2.500
3.5% PUABC00 463.00–463.50 463.250 -2.250
Fuel Oil 3.5% 500 CST PUAGN00 459.00–459.50 459.250 -2.250
Low sulfur VGO AAHNF00 667.75–668.75 668.250 +0.250
High sulfur VGO AAHNI00 654.00–655.00 654.500 0.000
*FOB Amsterdam-Rotterdam-Antwerp
Rotterdam bunker (PGA page 1112)
380 CST PUAFN00 462.50–463.50 463.000 -6.000

are lower, end-users are struggling and looking to lower US products (¢/gal) (PGA page 158)
operating rates,” a Singapore-based trader said. US West Coast pipeline
The Platts-assessed CFR Northeast Asia ethylene Los Angeles San Francisco
spread to C+F Japan naphtha physical narrowed to Unleaded 84 AAUHA00 292.40–292.50 292.450 -3.010 PGADG00 299.65–299.75 299.700 +0.480
$218.50/mt at the Asian close March 21, from $251.50/ Premium 90 PGABG00 315.40–315.50 315.450 -3.010 PGABO00 320.65–320.75 320.700 +0.480
mt Feb. 29. CARBOB AAKYJ00 299.65–299.75 299.700 -3.010 AAKYN00 299.65–299.75 299.700 +0.480
CARBOB PREM AAKYL00 322.65–322.75 322.700 -3.010 AAKYP00 320.65–320.75 320.700 +0.480
In tender news, South Korea’s GS Caltex closed
Jet PJAAP00 263.29–263.39 263.340 +3.210 PJABC00 263.29–263.39 263.340 +3.210
March 21 a tender seeking three to four 25,000 mt ULS (EPA) Diesel POAET00 268.80–268.90 268.850 +1.690 POAEY00 270.30–270.40 270.350 -1.530
heavy full-range naphtha cargoes/month for delivery CARB diesel POAAK00 268.80–268.90 268.850 +1.690 POAAL00 270.30–270.40 270.350 -1.530
over May-July or July-October, market sources said. Seattle Portland
The company last bought two 25,000 mt cargoes of Unleaded 84 AAXJE00 312.43–312.53 312.480 +1.270 AAXJC00 313.93–314.03 313.980 +1.270
Premium 90 AAXJF00 329.43–329.53 329.480 +1.270 AAXJD00 330.93–331.03 330.980 +1.270
heavy full-range naphtha for delivery in H2 April to Jet PJABB00 263.29–263.39 263.340 +3.210
Yeosu, S&P Global Commodity Insights reported earlier. ULS (EPA) Diesel AAUEX00 251.14–251.24 251.190 +5.210 AAUEY00 252.29–252.39 252.340 +5.210
Award details could not be confirmed. Phoenix
Meanwhile, naphtha purchases by South Korean RBOB unleaded 84 AADDP00 300.65–300.75 300.700 -3.010
RBOB premium 89.5 PPXDJ00 323.65–323.75 323.700 -3.010
petrochemical producers will continue as usual despite
Differential to NYMEX
the ongoing probe by South Korean authorities into
CARBOB AANVX00 27.95/28.05 28.000 -2.000
the origin of naphtha imports by these companies, Jet Fuel AANVY00 -2.05/-1.95 -2.000 +4.750
with two end-users saying they would not avoid buying ULS (EPA) Diesel AANVZ00 4.95/5.05 5.000 +3.000
naphtha from commercial storage tanks while the CARB Diesel AANWA00 4.95/5.05 5.000 +3.000
investigation is ongoing, petrochemical producers said. US West Coast waterborne
Los Angeles
South Korean authorities are conducting
Unleaded 87 PGADI00 292.40–292.50 292.450 -3.010
investigations into the true origin of cargoes Jet PJABI00 262.29–262.39 262.340 +3.210
purchased by end-users in South Korea, market
sources said, to determine if these cargoes could have
originated from Russia but with its origin changed
once it’s shipped to other countries before flowing to Platts assessment of futures markets at MOC close (PGA page 703)
South Korea. Singapore 16:30
In statistical news, Singapore’s imports of naphtha, ICE gasoil futures ($/mt) NYMEX RBOB (¢/gal) NYMEX NY ULSD (¢/gal)
Apr 24* AAQYM01 827.00 Apr XNRBA01 272.04 Apr XNHOA01 267.20
reformates and other blendstocks surged 91.27% to May 24 AAQYM02 814.00 May XNRBA02 270.50 May XNHOA02 265.26
309,343 mt in the week ended March 20, as imports Jun 24 AAQYM03 804.00 Jun XNRBA03 266.80 Jun XNHOA03 263.27
from India and South Korea rose, inflows from Russia New York 14:30
resumed and rare shipments arrived from the US and NYMEX light sweet crude ($/barrel) NYMEX RBOB (¢/gal) NYMEX NY ULSD (¢/gal)
May NYCRM01 80.65 Apr NYRBM01 274.01 Apr NYHOM01 265.25
Argentina, the Enterprise Singapore data showed.
Jun NYCRM02 80.17 May NYRBM02 271.72 May NYHOM02 263.80
Russia led the inflow volumes with 135,726 mt of Jul NYCRM03 79.61 Jun NYRBM03 267.63 Jun NYHOM03 261.85
naphtha, after a two-week hiatus. The city-state last *Balance month swaps are assessed from the 1st to the 15th of the month, and to the 14th of February.
imported 63,066 mt of naphtha from Russia in the
week ended Feb. 28, S&P Global reported previously.
Singapore’s exports of naphtha soared 143.26% on

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 79.91–79.95 79.930 -0.660 AAPAI00 -5.00 +0.050 AAPAH00 79.950 +0.040
Ichthys FC 48.9 ICFCA00 87.330 -0.310 ICFCB00 2.400 +0.400
DFC 56.82 ADFCA00 85.27–85.31 85.290 -0.780 ADFCB00 1.20/1.30 1.250 0.000 ADFCC00 0.360 -0.070 ADFCD00 85.310 -0.080
Qatar LSC 56.9 AARBB00 85.02–85.06 85.040 -0.780 AARBD00 0.95/1.05 1.000 0.000 AARBC00 0.110 -0.070 AARBA00 85.060 -0.080
South Pars 57.4 AARAV00 80.22–80.26 80.240 -0.780 AARAX00 -3.85/-3.75 -3.800 0.000 AARAW00 -4.690 -0.070 AARAU00 80.260 -0.080
Diff to ICP
Senipah 54.4 AAEOE00 76.91–76.95 76.930 -0.660 AAEOK00 -4.05/-3.95 -4.000 +0.050 AAPBE00 -8.000 +0.050 AAPBD00 76.950 +0.040
Light crude (PGA page 2214) (PGA page 2215)
Diff to ICP Diff to Asian Dated Brent
Cossack 47.7 PCAGZ00 87.26–87.30 87.280 -0.310 AAPAC00 2.350 +0.400 AAPAB00 87.300 +0.390
Tapis 45.2 PCACB00 88.91–88.95 88.930 -1.210 AAOZW00 4.000 -0.500 AAOZV00 88.950 -0.510
Belida 45.1 PCAFL00 81.56–81.60 81.580 -0.310 PCAFM00 -1.75/-1.65 -1.700 +0.200 AAPBQ00 -3.350 +0.400 AAPBP00 81.600 +0.390
Kutubu 44.3 PCAFJ00 83.81–83.85 83.830 -0.310 AAPAE00 -1.100 +0.400 AAPAD00 83.850 +0.390
Attaka 42.3 PCAAJ00 81.51–81.55 81.530 -0.310 PCAAK00 -1.75/-1.65 -1.700 +0.200 AAPBC00 -3.400 +0.400 AAPBB00 81.550 +0.390
Ardjuna 38 PCACQ00 85.21–85.25 85.230 -0.710 PCACR00 -0.70/-0.60 -0.650 0.000 AAPBG00 0.300 0.000 AAPBF00 85.250 -0.010
Banyu Urip 32 PCAFQ00 90.530 -0.710 PCAQQ00 2.800 0.000 AAPBU00 5.600 0.000 AAPBR00 90.550 -0.010
Diff to Dubai
Sakhalin Blend 45.5 AARBN00 78.12–78.16 78.140 -0.580 AARCN00 -5.95/-5.85 -5.900 +0.200 AARDN00 -6.790 +0.130 AAREN00 78.160 +0.120
ESPO M1 34.8 AARWF00 81.22–81.26 81.240 -0.780 AASEU00 -2.85/-2.75 -2.800 0.000 AARWE00 -3.660 -0.050 AARWD00 81.290 -0.060
ESPO M2 34.8 AAWFE00 80.41–80.45 80.430 -0.700 AAWFG00 -2.85/-2.75 -2.800 0.000
Sokol 39.7 AASCJ00 81.02–81.06 81.040 -0.780 AASCK00 -3.05/-2.95 -3.000 0.000 AAPAO00 -3.890 -0.070 AAPAN00 81.060 -0.080
Kikeh 34.9 AAWUH00 93.06–93.10 93.080 -1.310 AAOZY00 8.150 -0.600 AAOZX00 93.100 -0.610
Miri Light 32.3 PCABQ00 92.61–92.65 92.630 -1.310 AAPAS00 7.700 -0.600 AAPAR00 92.650 -0.610
Labuan 32 PCABL00 95.51–95.55 95.530 -1.310 AAPAQ00 10.600 -0.600 AAPAP00 95.550 -0.610
Kimanis 38.6 AASCL00 95.930 -0.760 AASCM00 11.000 -0.050 AASCN00 95.950 -0.060
Medium crude (PGA page 2216) (PGA page 2217)
Diff to Asian Dated Brent
Su Tu Den 36.8 AARAR00 92.06–92.10 92.080 -0.610 AARAS00 7.150 +0.100 AARAQ00 92.100 +0.090
Bach Ho 40.7 PCAHY00 93.81–93.85 93.830 -0.610 AAPAK00 8.900 +0.100 AAPAJ00 93.850 +0.090
Nanhai 40 PCAFR00 81.66–81.70 81.680 -0.710 AAPAG00 -3.250 0.000 AAPAF00 81.700 -0.010
Nile Blend 33.9 AAPLC00 83.61–83.65 83.630 -0.660 AAPAM00 -1.300 +0.050 AAPAL00 83.650 +0.040
Daqing 32.2 PCAAZ00 84.56–84.60 84.580 -0.660 AAPAW00 -0.350 +0.050 AAPAV00 84.600 +0.040
Heavy crude (PGA page 2218) (PGA page 2219)
Diff to ICP Diff to Asian Dated Brent
Dar Blend 25 AARAB00 82.01–82.05 82.030 -0.710 AARAC00 -2.900 0.000 AARAA00 82.050 -0.010
Shengli 24.2 PCABY00 87.26–87.30 87.280 -0.710 AAPAY00 2.350 0.000 AAPAX00 87.300 -0.010
Duri 20.8 PCABA00 90.61–90.65 90.630 -0.710 PCABB00 2.80/2.90 2.850 0.000 AAPBM00 5.700 0.000 AAPBL00 90.650 -0.010
Vincent 18.3 AARAK00 95.080 -0.710 AARAL00 10.150 0.000 AARAJ00 95.100 -0.010

the week to 50,098 mt in the week ended March 20, Naphtha FOB Arab Gulf Cargo <PAAAA00> differential at $40/mt in the absence of bids, offers
the data showed. assessment rationale: and trades in the FOB Fujairah naphtha Platts Market
Platts is part of S&P Global Commodity Insights. The FOB Arab Gulf naphtha assessment was on Close assessment process.
derived as a freight netback from the CFR Japan The MOPAG naphtha strip is calculated from the
Platts Japan Naphtha Daily Rationales & naphtha marker using the following calculation: CFR April MOPAG naphtha swap at $638.86/mt and the
Exclusions Japan naphtha marker minus the cost of transporting May MOPAG naphtha swap at $632.94/mt. The cash
Naphtha C+F Japan Cargo <PAAAD00> assessment a 55,000-mt clean cargo from a basket of ports on the differential took into consideration the FOB Arab Gulf
rationale: Persian Gulf-to-Japan route. cash differential against MOPAG naphtha physical in
The CFR Japan naphtha cargo assessment on Exclusions: the absence of any competitive bids, offers or trades
March 22 took into consideration an withdrawn No market data was excluded from the March 22 demonstrating value otherwise.
offer for H1 May at $722/mt and a trade for H2 May Asian naphtha derivative Market on Close assessment Exclusions: No data was excluded from the March
at $718/mt, with a crack value of $77.28/mt, which process. 22 Fujairah naphtha MOC process.
demonstrated value. The H1 May-H2 May time spread No market data was excluded from the March 22 Platts is part of S&P Global Commodity Insights.
was assessed at $4/mt. The H2 May-H1 June time Asian naphtha MOC.
spread was assessed at $7.50/mt. Platts is part of S&P Global Commodity Insights. Platts FOB Fujairah Naphtha Bids, Offers,
Naphtha FOB Spore Cargo <PAAAP00> assessment Trades
rationale: Platts FOB Fujairah Naphtha Daily Rationale &
The FOB Singapore naphtha assessment was Exclusions Bids: No bids
derived as a freight netback from the CFR Japan Naphtha FOB Fujairah <NFJSA00 > assessment Offers: No offers
naphtha first cycle assessment using the following rationale: Trades: No trades
calculation: CFR Japan naphtha first cycle assessment The assessment of FOB Fujairah naphtha March This assessment commentary applies to the
minus the cost of transporting a 30,000-mt clean 22 took into consideration the naphtha Mean of Platts following market data codes: Naphtha FOB Fujairah
cargo on the Singapore-to-Japan route. Arab Gulf strip value of $637.7/mt, as well as the cash Cargo $/mt <NFJSA00>.
only for your personal use or, if you or your company has a license for the Data communications (whether written, oral, electronic or in other format), and shall not
from S&P Global Commodity Insights and you are an authorized user, for your be subject to any damages or liability, including but not limited to any indirect,
company’s internal business use only. You may not publish, reproduce, extract, special, incidental, punitive or consequential damages (including but not limited to,
distribute, retransmit, resell, create any derivative work from and/or otherwise loss of profits, trading losses and loss of goodwill).
provide access to the Data or any portion thereof to any person (either within or
outside your company, including as part of or via any internal electronic system or ICE index data and NYMEX futures data used herein are provided under S&P Global
Asia-Pacific/Arab Gulf Marketscan intranet), firm or entity, including any subsidiary, parent, or other entity that is Commodity Insights’ commercial licensing agreements with ICE and with NYMEX.
You acknowledge that the ICE index data and NYMEX futures data herein are
affiliated with your company, without S&P Global Commodity Insights’ prior written
consent or as otherwise authorized under license from S&P Global Commodity confidential and are proprietary trade secrets and data of ICE and NYMEX or its
Contact Client Services: ci.support@spglobal.com; Americas: +1-800-752-8878; Insights. Any use or distribution of the Data beyond the express uses authorized in licensors/suppliers, and you shall use best efforts to prevent the unauthorized
Europe & Middle East: +44-20-7176-6111; Asia Pacific: +65-6530-6430 this paragraph above is subject to the payment of additional fees to S&P Global publication, disclosure or copying of the ICE index data and/or NYMEX futures
Commodity Insights. data.
Trade Data: S&P Global Commodity Insights has defined standards for entities it S&P Global Commodity Insights, its affiliates and all of their third-party licensors Permission is granted for those registered with the Copyright Clearance Center
considers to be related and verifies through a variety of inputs whether disclaim any and all warranties, express or implied, including, but not limited to, any (CCC) to copy material herein for internal reference or personal use only, provided
counterparties in reported trades meet these criteria. warranties of merchantability or fitness for a particular purpose or use as to the that appropriate payment is made to the CCC, 222 Rosewood Drive, Danvers, MA
© 2024 by S&P Global Inc. All rights reserved. Data, or the results obtained by its use or as to the performance thereof. Data in 01923, phone +1-978-750-8400. Reproduction in any other form, or for any other
this publication includes independent and verifiable data collected from actual purpose, is forbidden without the express prior permission of S&P Global Inc. For
S&P Global, the S&P Global logo, S&P Global Commodity Insights, and Platts are market participants. Any user of the Data should not rely on any information and/
trademarks of S&P Global Inc. Permission for any commercial use of these article reprints contact: The YGS Group, phone +1-717-505-9701 x105 (800-501-9571
or assessment contained therein in making any investment, trading, risk
trademarks must be obtained in writing from S&P Global Inc. from the U.S.).
management or other decision. S&P Global Commodity Insights, its affiliates and
You may view or otherwise use the information, prices, indices, assessments and their third-party licensors do not guarantee the adequacy, accuracy, timeliness For all other queries or requests pursuant to this notice, please contact S&P Global
other related information, graphs, tables and images (“Data”) in this publication and/or completeness of the Data or any component thereof or any Inc. via email at ci.support@spglobal.com.

Platts Asia and Middle Eastern Jet Daily Inflows of the aviation fuel plunged to just 20 Jet Kero FOB Arab Gulf Cargo <PJAAA00>
Market Analysis mt from 53,083 mt the week prior, latest Enterprise assessment rationale:
Singapore data showed. Imports were last seen lower The FOB Arab Gulf Jet Kero cargo assessment was
Front-month swap time spread near nine-month
in the week ended Feb. 14. derived as a freight netback from the FOB Singapore
low of 7 cents/b
In spot news, South Korea’s SK Energy sold 300,000 Jet Kero cargo assessment using the following input:
South Korea’s SK Energy sells 300,000 barrels of jet barrels of jet A-1 fuel for loading over April 27-27 from FOB Singapore Jet Kero cargo assessment minus the
A-1 fuel for April 25-27 loading Ulsan, at a discount of around 90 cents/b to the whole- cost of transporting a 55,000-mt clean cargo from a
month average of Mean of Platts Singapore jet fuel/ basket of ports in the Persian Gulf to Singapore.
The Asian jet fuel/kerosene market edged lower kerosene assessments, FOB. Exclusions:
March 22, as backwardation weakened amid still-poor Elsewhere, Japan’s kerosene production rose 65% No market data was excluded from the March 22,
supply-side fundamentals. on the week to 1.86 million barrels over March 10-16, 2024, Singapore jet fuel/kerosene Platts Market on
The front-month April-May swap time spread, Petroleum Association of Japan data showed March Close assessment process.
an indication of near-term market sentiment, was 21. On a year-on-year basis, this was up 21.3%. Over the
assessed by Platts at a near nine-month low of 7 same period, stockpiles of the heating oil dipped 4.3% Platts FOB Fujairah Jet Kero Rationale &
cents/b at the Asian close March 21, narrowing 23 on the week to 7.89 million barrels, inching up 0.7% on Exclusions
cents/b on the day. The spread was last seen lower on the year. Jet Kero FOB Fujairah cargo <AFUJF00>
June 30, 2023, at minus 0.05 cent/b. In the latest Japan Weekly Oil Analysis, implied assessment rationale:
Tracking the decline, the cash differential to Mean kerosene demand dropped 38,000 b/d on the week Platts assessed FOB Fujairah jet fuel/kerosene
of Platts Singapore Jet fuel/kerosene assessment to 316,000 b/d over the week ending March 16, edging on March 22 at a premium of $3.45/b to the Mean of
for jet fuel/kerosene cargoes loading from Singapore higher to an average of 364,000 b/d over the past three Platts Arab Gulf jet fuel/kerosene assessment, taking
slipped 12 cents/b on the day to 48 cents/b. weeks, S&P Global Commodity Insights reported. into consideration prices in the FOB Fujairah jet fuel/
In the midmorning trade March 22, the spread However, stormy and snowy weather will support kerosene market as well as differentials for recent
recovered slightly, widening 3 cents/b to 10 cents/b. kerosene consumption in the upcoming week. cargo trades heard in the Middle East. The MOPAG jet
The arbitrage lane to send barrels from Arab Gulf to fuel/kerosene strip was at $98.30/b.
Northwest Europe remained unworkable, sources said. Platts Asia & Middle East Jet Kero Daily Exclusions:
“Even if I use the cheapest [per metric ton] freight... Rationale & Exclusions No market data was excluded from the March 22,
I get horrible arbitrage economics,” said a trader. Jet Kero FOB Spore Cargo <PJABF00> assessment 2024, Fujairah jet fuel/kerosene Market-on-Close
“I would say this contango is a lot more about rationale: assessment process.
prompt weakness than forward strength,” said the The FOB Singapore Jet fuel/kerosene cargo
trader with regards to the contango structure in the assessment March 22 was based on the following Platts Singapore Jet Kero Bids, Offers,
European jet market. “Not saying the recovery won’t inputs: The front loading period was assessed at Trades
happen eventually but it seems no one is expecting the Mean of Platts Singapore jet fuel/kerosene
any sudden miracle. Market was pricing recovery in assessment plus 5 cents/b, taking into consideration Bids: No bids reported
April but now this has shifted to June.” an offer for a cargo loading over April 6-10 at MOPS Offers: Jet: FOB Straits: Aramco offers MOPS +0.10
Reflecting unviable arbitrage economics, plus 10 cents/b after accounting for deemed pricing. Apr 6-10 100kb (Deemed pricing Apr 8-15); Jet: FOB
Singapore’s exports of jet fuel/kerosene slipped The middle and back loading periods were assessed Straits: BP offers MOPS +0.40 Apr 10-14 100kb (Deemed
40.63% on the week to 70,321 mt over the week at the MOPS jet fuel/kerosene assessment plus 27 pricing Apr 9-16) BP GTC. Seller represents and warrants
ended March 20, easing from a three-month high of cents/b and plus 33 cents/b, respectively, reflecting that, to the best of its knowledge, the Cargo delivered
118,436 mt. the movement in the front loading period. under this Contract: (i) does not contain any product

that was produced, manufactured or processed in, or over March 14-20, Enterprise Singapore data showed late minus 50 cents/b, and the middle loading period was
exported from; or (ii) has not been produced through a March 21. The decline comes after stocks hit a two-year assessed at MOPS Gasoil minus 34 cents/b, reflecting
blending process that uses product or components that high in the previous week of 10.78 million barrels. the movement in the back loading period.
have been produced, manufactured or processed in, or Inventories of gasoil and jet fuel/kerosene remain at Gasoil .05%S (500ppm) FOB Spore Cargo <AAFEX00>
exported from, in each case, the Russia Federation or elevated levels and just below their previous near-term assessment rationale: The FOB Singapore Gasoil 0.05%
Crimea, the Donetsk People’s Republic or the Luhansk high of 10.42 million barrels in the week to Nov. 22, 2023. (500 ppm) cargo assessment March 22 was based on the
People’s Republic in Ukraine; Jet: FOB Straits: Aramco The city-state remained a net exporter of gasoil in adjusted relationship between the physical and swaps
offers MOPS +0.80 Apr 11-15 100kb (Deemed pricing Apr the week ended March 20, with outflows of 336,354 mt markets as the April/May gasoil swap spread was up 1
22-29); Jet: FOB Straits: Aramco offers MOPS +0.80 Apr outpacing inflows of 132,249 mt. cent/b on the day at 10 cents/b. The cash differential
17-21 100kb (Deemed pricing Apr 22-29) South Korea accounted for the bulk of gasoil inflows was up 1 cent/b at MOPS Gasoil minus $1.29/b.
Trades: No trades reported into Singapore with 62,241 mt, while Russia and China Gasoil FOB Spore Cargo <POABC00> assessment
This assessment commentary applies to the respectively sent 39,917 mt and 30,090 mt. rationale: The FOB Singapore Gasoil 0.001% (10
following market data codes: Jet Kero <PJABF00> Lower domestic demand in South Korea has spurred ppm) cargo assessment March 22 was based on the
more outflows from the country, with exports anticipated following inputs: The back loading period was assessed
Platts Asia and Middle Eastern Gasoil Daily to grow in the coming months, market sources said. at MOPS Gasoil minus 21 cents/b, reflecting a trade
Market Analysis Australia was the top destination for gasoil exports for April 15-21 at MOPS Gasoil minus 20 cents/b, after
from Singapore, absorbing 114,234 mt. This was normalizing for deemed pricing. The front loading
Ample gasoil supply weighs on trading sentiment
followed by France and Malaysia respectively with period was assessed at MOPS Gasoil minus 50 cents/b,
Singapore middle distillate stocks hover near 55,127 mt and 32,444 mt. and the middle loading period was assessed at MOPS
multimonth highs Australia has become more dependent on ultra low Gasoil minus 34 cents/b, reflecting the movement in
sulfur diesel import flows, following the closure of two the back loading period.
The Asian gasoil complex saw a flurry of cargo domestic refineries — ExxonMobil’s Altona and BP’s Exclusions: No market data was excluded from
offers in the week ended March 22, and poor arbitrage Kwinana facilities — over the course of the coronavirus the March 22 Singapore Gasoil Market on Close
economics for westbound cargoes weighed on pandemic. It usually turns to regional outlets such as assessment process.
fundamentals. Northeast Asia’s China, Japan, South Korea and Taiwan Platts is part of S&P Global Commodity Insights.
The paper market reflected weak trading sentiment, and Southeast Asia’s Singapore and Malaysia for oil
as brokers pegged the front month April-May product supplies. Platts FOB Fujairah Gasoil Daily Rationale &
Singapore gasoil swap timespread at plus 8 cents/b in Platts is part of S&P Global Commodity Insights. Exclusions
intraday trading, slightly narrowing from plus 9 cents/b Gasoil FOB Fujairah cargo <AFUJK00> assessment
at the March 21 Asian close according to S&P Global Platts Asia and Middle Eastern Gasoil Cargo rationale: The FOB Fujairah Gasoil assessment on
Commodity Insights data. Daily Rationale & Exclusions March 22 was assessed at a premium of $2.20/b to
In spot activity, South Korea’s SK Energy was heard Gasoil .001%S (10ppm) FOB Spore Cargo Mean of Platts Arab Gulf gasoil assessment, taking into
to have sold three cargoes of 300,000 barrels each, <AAOVC00> assessment rationale: The FOB Singapore consideration prices in the FOB Fujairah gasoil market
loading over April 16-18, April 18-20 and April 25-27, at Gasoil 0.001% (10 ppm) cargo assessment March 22 as well as differentials for recent cargo trades heard in
discounts between $2.00 and $2.20/b to the loading- was based on the following inputs: The back loading the Middle East. The MOPAG Gasoil Strip was $99.63/b.
month average of Mean of Platts Singapore 10 ppm period was assessed at MOPS Gasoil minus 21 cents/b, Gasoil 500 ppm FOB Fujairah cargo <AFUJN00>
sulfur gasoil assessment, FOB, market source said. reflecting a trade for April 15-21 at MOPS Gasoil minus assessment rationale: The FOB Fujairah 500 ppm
Singapore’s onshore commercial stocks of middle 20 cents/b, after normalizing for deemed pricing. The Gasoil assessment on March 22 was assessed at a
distillates were down 4.1% on week at 10.35 million barrels front loading period was assessed at MOPS Gasoil premium of $1.20/b to Mean of Platts Arab Gulf gasoil

assessment, taking into consideration prices in the that was produced, manufactured or processed in, or assessed at MOPS Gasoil minus $2.23/b, tracking the
FOB Fujairah gasoil market as well as differentials exported from; or (ii) has not been produced through a change in the FOB Singapore Gasoil 0.05% (500 ppm)
for recent cargo trades heard in the Middle East. The blending process that uses product or components that cargo market.
MOPAG Gasoil Strip was $99.63/b. have been produced, manufactured or processed in, or Gasoil .05% (500ppm) FOB Arab Gulf Cargo
Exclusions: No market data was excluded from the exported from, in each case, the Russia Federation or <AAFEZ00> assessment rationale: The FOB Arab Gulf
March 22 Fujairah Gasoil Market-on-Close assessment Crimea, the Donetsk People’s Republic or the Luhansk Gasoil 0.05% (500 ppm) cargo assessment was derived
process. People’s Republic in Ukraine.; Gasoil 10ppm: FOB Straits: as a freight netback from the FOB Singapore Gasoil
Platts is part of S&P Global Commodity Insights. Mercuria offers MOPS +0.60 Apr 17-21 150kb (Deemed 0.001% (10 ppm) cargo assessment using the following
pricing Apr 16-22) INCO; Gasoil 10ppm: FOB Straits: Unipec inputs: FOB Singapore Gasoil 0.001% (10 ppm) cargo
Platts Asia and Middle Eastern Gasoil Cargo offers MOPS +0.50 Apr 17-21 150kb (Deemed pricing Apr assessment minus the cost of transporting a 55,000-
Bids, Offers, Trades 16-22) INCO; Gasoil 500ppm: FOB Straits: Sietco offers mt clean cargo from a basket of ports in the Persian
MOPS -0.60 Apr 6-10 150kb (Deemed pricing Apr 5-12) Gulf to Singapore, and taking into account the cash
Bids: Gasoil 10ppm: FOB Straits: Trafigura bids MOPS Shell GTC. It is a condition of this bid that the goods sold differential between the FOB Arab Gulf 10 ppm and 500
-0.40 Apr 17-21 150kb INCO; Gasoil 500ppm: FOB Straits: and delivered by Seller will not be of Russian Federation ppm assessments.
Vitol bids MOPS -1.50 Apr 6-10 150kb (Deemed pricing Apr (RF) origin, nor have been blended with any product that Gasoil FOB Arab Gulf Cargo <POAAT00> assessment
4-11) INCO; WD: Gasoil 10ppm: FOB Straits: BP no longer was produced in RF, nor will the transport of the goods rationale: The FOB Arab Gulf Gasoil 0.001% (10 ppm)
bids MOPS -0.20 Apr 15-19 158kb (Deemed pricing Apr sold commence from or involve transit through RF. cargo assessment was derived as a freight netback
15-19) Seller represents and warrants that, to the best of Trades: Gasoil 10ppm: FOB Straits: Apr 15-19: 158kb: from the FOB Singapore Gasoil 0.001% (10 ppm) cargo
its knowledge, the Cargo delivered under this Contract: Gunvor sells to BP at MOPS minus 20 cents/b (Deemed assessment using the following input: FOB Singapore
(i) does not contain any product that was produced, pricing Apr 15-19) (4:28:57) Gasoil 0.001% (10 ppm) cargo assessment minus the
manufactured or processed in, or exported from; or (ii) Exclusions: Platts GO: Platts has been notified that cost of transporting a 55,000-mt clean cargo from a
has not been produced through a blending process that the trade Platts GO Spread Singapore Gasoil 10ppm basket of ports in the Persian Gulf to Singapore.
uses product or components that have been produced, (Platts) Bal Month/Apr, National Bank of Abu Dhabi Exclusions: No market data was excluded from
manufactured or processed in, or exported from, in each sold to Vitol -$0.10 for 50kb (4:29:34) was executed in the March 22 Singapore Gasoil Market-on-Close
case, the Russia Federation or Crimea, the Donetsk error. Platts is reviewing the trade. Both parties have assessment process.
People’s Republic or the Luhansk People’s Republic in agreed to amend the trade to -$0.20 cents/b Platts is part of S&P Global Commodity Insights.
Ukraine after trade with Gunvor (4:28:57) This assessment commentary applies to the
Offers: Gasoil 10ppm: FOB Straits: Aramco offers following market data codes: <AAOVC00> <AAFEX00> Platts Asia and Middle East Fuel Oil Daily
MOPS +0.30 Apr 6-10 150kb (Deemed pricing Apr 4-11) <AACUE00> <POABC00> <AAFEZ00> Market Analysis
or MOPS +0.30 Apr 11-15 150kb (Deemed pricing Apr
LSFO market structure inches higher; ample
11-17) or MOPS +0.30 Apr 17-21 150kb (Deemed pricing Platts Asia and Middle Eastern Gasoil FOB
supplies weigh on outlook
Apr 16-22); Gasoil 10ppm: FOB Straits: Vitol offers MOPS Cargo Daily Rationale & Exclusions
+0.40 Apr 6-10 150kb or MOPS +0.40 Apr 11-15 150kb or Gasoil .25%S (2500ppm) FOB Spore Cargo Singapore’s fuel oil inventories climb to four-week
MOPS +0.40 Apr 16-20 150kb; Gasoil 10ppm: FOB Straits: <AACUE00> assessment rationale: The FOB Singapore high on higher imports
Petrochina offers MOPS +0.40 Apr 6-10 150kb (Deemed Gasoil 0.25% (2,500 ppm) cargo assessment March Singapore’s April ex-wharf term LSFO premiums
pricing Apr 3-9) INCO; Gasoil 10ppm: FOB Straits: Gunvor 22 was based on the following input: The front loading slide amid subdued demand
offers Apr +0.50 Apr 11-15 150kb INCO. Seller represents period was assessed at MOPS Gasoil minus $3.04/b,
and warrants that the cargo delivered/to be delivered the middle loading period was assessed at MOPS The Asian low sulfur fuel oil market structure and
under this Contract: (i) does not contain any product Gasoil minus $2.50/b and the back loading period was refining margins inched higher March 22, but traders

said any further major upsides would likely be capped differential plunged to a more than 13-month low on bids from Trafigura for April 6-10, and April 11-15 loading
due to ample near-term supplies. March 19, but traders were hopeful the market would cargoes at Mean of Platts Singapore Marine Fuel 0.5%
The Singapore marine fuel 0.5%S April-May swaps find support in the coming months as peak summer assessment plus $1/mt. The assessment also took into
time spread was pegged at $4.50/mt in midafternoon boosts demand from the power generation sector, S&P consideration another bid from Trafigura for an April 16-
trade March 22, compared with Platts’ assessment Global reported earlier. 20 loading cargo at MOPS plus $2/mt.
of $4.05/mt at the Asian close March 21. The prompt The Singapore 380 CST HSFO April-May market This assessment commentary applies to the
M1-M2 intermonth spread for FOB Singapore marine structure was pegged at around minus $1.75/mt in following market data codes: Marine Fuel 0.5% FOB
fuel oil swaps — which has narrowed 48% in the last midafternoon Asian trade March 22, against Platts’ Spore cargo $/mt <AMFSA00>
two weeks — is currently at its weakest backwardation assessment of minus $1.95/mt at the Asian close Exclusions: No market data was excluded from the
since Jan. 16, when it was assessed at plus $3.55/mt, March 21. March 22, 2024, cargo assessment process.
S&P Global Commodity Insights data showed. Pak Arab Refinery Limited, Pakistan’s second-largest
The Singapore front-month crack spread for the refinery, was set to export around 50,000 mt of 180 Platts FOB Singapore Marine Fuel 0.5%
0.5% sulfur marine fuel grade against Brent crude, CST high sulfur fuel oil grade over March 25-27, after a Cargo Bids, Offers, Trades
which has shed nearly 10% so far this week, was month-long hiatus in residual fuel oil outflows from the
assessed 56 cents lower on the day at $12.10/b on South Asian country, S&P Global reported earlier. Bids: Platts Marine Fuel 0.5%: FOB Straits: Trafigura
March 21 — the lowest since Feb. 6, when the refining The country’s largest refiner Cnergyico also plans bids MOPS +1.00 Apr 6-10 40kt OR
margin was assessed at $12.08/b, S&P Global data to make shipments of both low and high sulfur fuel Platts Marine Fuel 0.5%: FOB Straits: Trafigura bids
showed. The front-month crack for April, however, was oil in the coming weeks, according to market sources, MOPS +1.00 Apr 11-15 40kt OR
pegged higher on the session at $12.50/b on March 22. after data from the Oil Companies Advisory Council on Platts Marine Fuel 0.5%: FOB Straits: Trafigura bids
Platts assessed the Singapore marine fuel 0.5%S March 20 showed refineries in Pakistan did not export MOPS +2.00 Apr 16-20 40kt
cash premium over Mean of Platts Singapore marine a single parcel of fuel oil in February. Offers: Platts Marine Fuel 0.5%: FOB Straits: BP
fuel 0.5%S cargo assessment 9 cents higher on the Singapore’s commercial stockpiles of heavy offers MOPS +6.00 Apr 6-10 20kt BP GTC OR (Seller
day at $1.42/mt on March 21. distillates were up 3.2% on the week at a four-week represents and warrants that, to the best of its
Offers for term contractual ex-wharf marine fuel high of 22 million barrels in the week ended March 20, knowledge, the cargo delivered under this Contract:
0.5%S barrels for April’s supply at the world’s largest Enterprise Singapore data showed late March 21, as (i) does not contain any product that was produced,
bunkering hub of Singapore most recently softened to imports into the world’s largest bunkering hub rose on manufactured or processed in, or exported from; or (ii)
around $8-$10/mt to the benchmark FOB Singapore the back of recovering European supplies. has not been produced through a blending process
marine fuel 0.5%S cargo values, traders said March The city-state’s fuel oil inflows surged to 1.3 million that uses product or components that have been
22, while lackluster end-user demand weighed on mt in the week to March 20, up from 296,971 mt in produced, manufactured or processed in, or exported
the market. the preceding week. Singapore also saw 196,277 mt from, in each case, the Russia Federation or Crimea,
Meanwhile, Platts assessed the benchmark of inflows from Europe in the latest week, rebounding the Donetsk People’s Republic or the Luhansk People’s
Singapore 380 CST HSFO cash differential over MOPS from nil in the week ended March 13, the data showed. Republic in Ukraine.)
380 CST HSFO swap values at a discount of $2.92/ Platts is part of S&P Global Commodity Insights. Platts Marine Fuel 0.5%: FOB Straits: BP offers
mt at the Asian close March 21, compared with minus MOPS +6.00 Apr 11-15 20kt BP GTC OR (Seller
$2.95/mt on March 20, while the Singapore 180 CST Platts FOB Singapore Marine Fuel 0.5% cargo represents and warrants that, to the best of its
HSFO cash differential to MOPS 180 CST HSFO swap Daily Rationale & Exclusions knowledge, the cargo delivered under this Contract:
was assessed at a discount of $6.05/mt on March 21, Marine Fuel 0.5% FOB Spore cargo $/mt <AMFSA00> (i) does not contain any product that was produced,
versus minus $6.30/mt in the preceding session. Assessment Rationale: The FOB Singapore Marine Fuel manufactured or processed in, or exported from; or (ii)
The Singapore 180 CST high sulfur fuel oil cash 0.5% assessment March 22 took into consideration two has not been produced through a blending process

that uses product or components that have been (RF) origin (which includes product exported from PLATTS FO SPR: APR24: MERCURIA SELLS TO
produced, manufactured or processed in, or exported RF) nor blended with any RF origin product. Seller ONYX* 5KMT AT $19.50 (08:27:05)
from, in each case, the Russia Federation or Crimea, can provide if requested documentary evidence of PLATTS SINGAPORE MARINE FUEL 0.5% PAPER
the Donetsk People’s Republic or the Luhansk People’s compliance, showing refinery origin(s) of the cargo, to TRADES SUMMARY 22 Mar24
Republic in Ukraine.) the Buyer’s reasonable satisfaction.) MARINE FUEL 0.5% FOB SINGAPORE (PLATTS)
Platts Marine Fuel 0.5%: FOB Straits: BP offers Trades: No trade PLATTS MARINE FUEL: APR24: GUNVOR BUYS
MOPS +6.00 Apr 16-20 20kt BP GTC (Seller represents This assessment commentary applies to the FROM GLENCORE* 5KMT AT $621.00 (08:29:42)
and warrants that, to the best of its knowledge, the following market data codes: Marine Fuel 0.5% FOB PLATTS MARINE FUEL: APR24: DARE SELLS TO
cargo delivered under this Contract: (i) does not contain Spore cargo $/mt <AMFSA00> GUNVOR* 5KMT AT $621.00 (08:29:49)
any product that was produced, manufactured or PLATTS MARINE FUEL: APR24: DARE SELLS TO
processed in, or exported from; or (ii) has not been Platts Singapore Fuel Oil Paper Exclusions GUNVOR* 5KMT AT $621.00 (08:29:50)
produced through a blending process that uses PLATTS MARINE FUEL: APR24: VITOL BUYS FROM
product or components that have been produced, Exclusions: No market data was excluded from HENGLI* 5KMT AT $621.25 (08:29:51)
manufactured or processed in, or exported from, the March 22, 2024 Asian fuel oil paper assessment PLATTS MARINE FUEL: APR24: GUNVOR BUYS
in each case, the Russia Federation or Crimea, the process. FROM ERA* 5KMT AT $621.00 (08:29:54)
Donetsk People’s Republic or the Luhansk People’s PLATTS MARINE FUEL: APR24: GUNVOR BUYS
Republic in Ukraine.) Fuel Oil Reported Deals FROM ONYX* 5KMT AT $621.00 (08:29:56)
Platts Marine Fuel 0.5%: FOB Straits: Shell offers PLATTS MARINE FUEL: APR24: GUNVOR BUYS
MOPS +3.00 Apr 6-10 20kt Shell GTC OR (It is a PLATTS SINGAPORE FUEL OIL PAPER TRADES FROM ONYX* 5KMT AT $621.00 (08:30:06)
condition of this offer/agreement that the products SUMMARY 22 Mar24
sold and delivered by Seller will not be of Russian FUEL OIL 180CST SINGAPORE Platts Fujairah Daily Marine Fuel 0.5% Cargo
Federation (RF) origin (which includes product exported PLATTS FO SPR: BAL MONTH/APR24: TRAFIGURA Daily Rationale & Exclusions
from RF) nor blended with any RF origin product. Seller SELLS TO ONYX* 5KMT AT $-3.50 (08:26:43) Marine Fuel 0.5% FOB Fujairah cargo $/mt
can provide if requested documentary evidence of PLATTS FO SPR: BAL MONTH/APR24: TRAFIGURA <AMFFA00> assessment rationale: FOB Fujairah
compliance, showing refinery origin(s) of the cargo, to SELLS TO ONYX* 5KMT AT $-3.50 (08:26:47) Marine Fuel 0.5%S cargo assessment on March
the Buyer’s reasonable satisfaction.) PLATTS FO SPR: BAL MONTH/APR24: MERCURIA 22 took into consideration prices in the Fujairah-
Platts Marine Fuel 0.5%: FOB Straits: Shell offers SELLS TO ONYX* 5KMT AT $-3.25 (08:29:00) delivered Marine Fuel 0.5%S bunker market as well as
MOPS +4.00 Apr 11-15 20kt Shell GTC OR (It is a PLATTS FO SPR: BAL MONTH/APR24: TRAFIGURA differentials at which Marine Fuel 0.5%S cargoes were
condition of this offer/agreement that the products SELLS TO ONYX* 5KMT AT $-3.25 (08:29:14) heard traded in the Middle East.
sold and delivered by Seller will not be of Russian PLATTS FO SPR: APR24/MAY24: TRAFIGURA Exclusions: No market data was excluded from the
Federation (RF) origin (which includes product exported SELLS TO ONYX* 5KMT AT $1.25 (08:26:00) March 22 assessment process.
from RF) nor blended with any RF origin product. Seller PLATTS FO SPR: APR24/MAY24: TRAFIGURA Platts is part of S&P Global Commodity Insights.
can provide if requested documentary evidence of SELLS TO ONYX* 5KMT AT $0.75 (08:26:56) This rationale applies to symbol(s) <AMFFA00>.
compliance, showing refinery origin(s) of the cargo, to FUEL OIL 180CST SINGAPORE/FUEL OIL 380CST
the Buyer’s reasonable satisfaction.) SINGAPORE Platts Fujairah Daily Marine Fuel 0.5%
Platts Marine Fuel 0.5%: FOB Straits: Shell offers PLATTS FO SPR: APR24: MERCURIA SELLS TO Cargo Bids, Offers, Trades
MOPS +5.00 Apr 16-20 20kt Shell GTC (It is a condition ONYX* 5KMT AT $20.00 (08:24:35)
of this offer/agreement that the products sold and PLATTS FO SPR: APR24: MERCURIA SELLS TO Bids: No bid
delivered by Seller will not be of Russian Federation ONYX* 5KMT AT $19.75 (08:26:25) Offers: No offer

Trades: No trade Exclusions: No market data was excluded from the Platts HSFO 380CST: FOB Straits: Rex Commodities
This assessment commentary applies to the March 22 high sulfur fuel oil cargo assessment process. offers MOPS +0.00 Apr 12-16 20kt OR (It is a condition
following market data codes: Marine Fuel 0.5% FOB of this offer/agreement that the products sold and
Fujairah cargo $/mt <AMFFA00> Platts FOB Fujairah Daily 380 CST HSFO Cargo delivered by Seller will not be of Russian Federation
Daily Rationale & Exclusions (RF) origin (which includes product exported from
Platts Asia and Middle East FO 180, 380 CST HSFO 380 CST FOB Fujairah cargo $/mt RF) nor blended with any RF origin product. Seller
Daily Rationales & Exclusions <AFUJQ00> assessment rationale: FOB Fujairah can provide if requested documentary evidence of
FO 180 CST 3.5%S FOB Spore Cargo <PUADV00> 380 CST HSFO assessment on March 22 took into compliance, showing refinery origin(s) of the cargo, to
assessment rationale: The FOB Singapore 180 CST consideration prices in the Fujairah 380 CST HSFO the Buyer’s reasonable satisfaction.)
HSFO assessment March 22 took into consideration delivered bunker market as well as differentials for Platts HSFO 380CST: FOB Straits: Rex Commodities
the Singapore 180 CST HSFO April-May swaps spread, recent cargo trades heard in the Middle East. offers MOPS +0.00 Apr 17-21 20kt (It is a condition
which was assessed 70 cents/mt wider day on day at Exclusions: No market data was excluded from the of this offer/agreement that the products sold and
plus 75 cents/mt. March 22 assessment process. delivered by Seller will not be of Russian Federation
FO 380 CST 3.5%S FOB Spore Cargo <PPXDK00> (RF) origin (which includes product exported from
assessment rationale: The FOB Singapore 380 CST Platts Singapore Fuel Oil Bids Offers Trades RF) nor blended with any RF origin product. Seller
HSFO assessment March 22 took into consideration can provide if requested documentary evidence of
an offer from Aramco Singapore for a 20,000 mt cargo Bids: PLATTS HSFO: PHYSICAL BIDS FINALS ON compliance, showing refinery origin(s) of the cargo, to
loading over April 6-10 at Mean of Platts Singapore CLOSE (180 CST): No bids the Buyer’s reasonable satisfaction.)
380 CST HSFO assessment minus $3.25/mt. The PLATTS HSFO: PLATTS HSFO: PHYSICAL BIDS Platts HSFO 380CST: FOB Straits: AramcoSG
assessment also took into consideration an offer from FINALS ON CLOSE (380 CST): offers MOPS -3.25 Apr 6-10 20kt OR (It is a condition
Aramco Singapore for a 20,000 mt cargo loading over Platts HSFO 380CST: FOB Straits: Trafigura bids of this bid / agreement that the products sold and
April 11-15 at Mean of Platts Singapore minus $3/mt, MOPS -3.00 Apr 6-10 40kt OR delivered by Seller will not be of Russian Federation
and another offer from Aramco Singapore for an April Platts HSFO 380CST: FOB Straits: Trafigura bids (RF) origin nor blended with any product produced in
16-20-loading cargo at MOPS minus $2.50/mt. MOPS -3.00 Apr 11-15 40kt OR the Russian Federation or any other origin sanctioned
FO 180 CST 3.5%S FOB Arab Gulf Cargo <PUABE00> Platts HSFO 380CST: FOB Straits: Trafigura bids by the US / UN / EU. Buyer reserves the right to ask for
assessment rationale: The FOB Arab Gulf 180 CST MOPS -3.00 Apr 16-20 40kt documentary evidence of compliance, showing refinery
HSFO assessment was derived as a freight netback Offers: PLATTS HSFO: PHYSICAL OFFERS FINALS origin (s) of the cargo and other blend components, to
from the FOB Singapore 180 CST HSFO assessment ON CLOSE (180 CST): No offers the buyer’s reasonable satisfaction.)
using the following calculation: FOB Singapore 180 PLATTS HSFO: PHYSICAL OFFERS FINALS ON Platts HSFO 380CST: FOB Straits: AramcoSG
CST HSFO assessment minus the cost of transporting CLOSE (380 CST): offers MOPS -3.00 Apr 11-15 20kt OR (It is a condition
an 80,000-mt dirty cargo from the Persian Gulf to the Platts HSFO 380CST: FOB Straits: Rex Commodities of this bid / agreement that the products sold and
East. offers MOPS +0.00 Apr 7-11 20kt OR (It is a condition delivered by Seller will not be of Russian Federation
FO 380 CST 3.5%S FOB Arab Gulf Cargo <AAIDC00> of this offer/agreement that the products sold and (RF) origin nor blended with any product produced in
assessment rationale: The FOB Arab Gulf 380 CST delivered by Seller will not be of Russian Federation the Russian Federation or any other origin sanctioned
HSFO assessment was derived as a freight netback (RF) origin (which includes product exported from by the US / UN / EU. Buyer reserves the right to ask for
from the FOB Singapore 380 CST HSFO assessment RF) nor blended with any RF origin product. Seller documentary evidence of compliance, showing refinery
using the following calculation: FOB Singapore 380 CST can provide if requested documentary evidence of origin (s) of the cargo and other blend components, to
HSFO assessment minus the cost of transporting an compliance, showing refinery origin(s) of the cargo, to the buyer’s reasonable satisfaction.)
80,000-mt dirty cargo from the Persian Gulf to the East. the Buyer’s reasonable satisfaction.) Platts HSFO 380CST: FOB Straits: AramcoSG

offers MOPS -2.50 Apr 16-20 20kt (It is a condition Platts US West Coast Light End Daily from Iraq’s SOMO compared with March, with the
of this bid / agreement that the products sold and Commentary cuts made to some equity producers. One equity
delivered by Seller will not be of Russian Federation producer was heard to have not gone ahead with its
Los Angeles CARBOB falls 2 cents
(RF) origin nor blended with any product produced pre-allocation sale of an April-loading cargo, after it
in the Russian Federation or any other origin CARBOB stocks fall received no allocations for the month.
sanctioned by the US / UN / EU. Buyer reserves the Eni was heard to have sold 1 million barrels of
right to ask for documentary evidence of compliance, On the West Coast, the differential for Los Angles Basrah Medium earlier at a premium of 70 cents/b
showing refinery origin (s) of the cargo and other CARBOB fell 2 cents to NYMEX May RBOB futures plus to the grade’s OSP on an FOB basis. Eni also sold a
blend components, to the buyer’s reasonable 28 cents/gal on March 22, as the gasoline grade rolled second cargo, 1 million barrels in size, at a premium
satisfaction.) to the May basis month. of 50 cents/b to the OSP, FOB, to a Chinese buyer.
Platts HSFO 380CST: FOB Straits: Total offers MOPS Stocks for CARB reformulated gasoline fell in China’s CNOOC sold a Basrah Medium cargo for April
-1.00 Apr 6-10 20kt TotalEnergies GTC OR the week ended March 15, while gasoline blending loading at a premium of 60-70 cents/b, FOB.
Platts HSFO 380CST: FOB Straits: Total offers MOPS components increased, according to data from the India’s HPCL was heard seeking Basrah Medium in
-1.00 Apr 11-15 20kt TotalEnergies GTC OR California Energy Commission released March 22. a tender that closed March 21, but details around the
Platts HSFO 380CST: FOB Straits: Total offers MOPS Stocks for CARBOB fell 29,000 barrels to 6.864 award were unclear.
-1.00 Apr 16-20 20kt TotalEnergies GTC million barrels, but stayed at two-year highs for this Further out, the startup of Canada’s Trans Mountain
Platts HSFO 380CST: FOB Straits: PetroChina offers time period. Expansion pipeline in the second quarter of 2024
MOPS -1.00 Apr 6-10 20kt OR Gasoline blending component stocks increased would add competition to Middle Eastern barrels, with
Platts HSFO 380CST: FOB Straits: PetroChina offers for the second week in a row, closing at 4.950 million a Shanghai-based analyst saying the pipeline would
MOPS -1.00 Apr 11-15 20kt OR barrels, but inventories are still at a two-year low. be a game changer to China as it could not only cut
Platts HSFO 380CST: FOB Straits: PetroChina offers At this time in 2023, stocks were at 5.547 million the voyage but also avoid the high freight — caused
MOPS -1.00 Apr 16-20 20kt barrels, while in 2022 they were at 5.025 million by the Red Sea tensions — to bring in the cheap heavy
Trades: No trade barrels. barrels from Canada.
Platts Bitumen: PHYSICAL BIDS FINALS ON CLOSE: Platts is part of S&P Global Commodity Insights. This comes as China’s Sinochem was heard
FOB STRAITS: No bids to have bought an Aframax cargo of high TAN,
Platts Bitumen: PHYSICAL OFFERS FINALS ON Platts Middle East Sour Crude Daily Market heavy sour Access Western Blend, from Canada’s
CLOSE: FOB STRAITS: No offers Analysis Suncor Energy at a discount of $5-$5.50/b to ICE
Platts Bitumen Trade Summary: FOB STRAITS: August Brent futures on a delivered basis, market
Lower allocations lend support to Basrah grades
No trade sources said.
Platts Bitumen: PHYSICAL BIDS FINALS ON CLOSE: First sale from Canada’s TMX to China The cargo would be one of the first to be shipped
FOB SOUTH KOREA: No bids though the Canadian pipeline. China’s Unipec was also
Platts Bitumen: PHYSICAL OFFERS FINALS ON Cash differentials for heavy Middle East sour crude heard to have bought a cargo, but trade details were
CLOSE: FOB SOUTH KOREA: No offers grades were largely underpinned by lower allocations unclear.
Platts Bitumen: TRADE SUMMARY: FOB SOUTH of Iraq’s Basrah Medium and Heavy grades amid A source with Sinochem confirmed that the
KOREA: No trade already reduced April allocations of heavy grades from cargo was bought and will be sent to their system
This assessment commentary applies to the Saudi Arabia, trade sources in the Asian sour crude refineries for cracking, but did not elaborate on the
following market data codes: FO 180 CST 2.0% market said March 22. price details or which of its refineries the cargo will
<PUAXS00> FO 180 CST 3.5% <PUADV00> FO 380 CST So far, several sources have indicated seeing less be delivered to.
3.5% <PPXDK00> volumes of both Basrah Medium and Heavy grades The continuous narrowing of the light/medium

spread spurred more buying of Murban on March PLATTS DUBAI: MAY24: BP BIDS 25KB AT $85.05 25KB AT $85.14 (08:29:20)
21. Thailand’s PTT was heard to have bought four PLATTS DUBAI: MAY24: MERCURIA BIDS 25KB PLATTS DUBAI: MAY24: TOTAL SELLS TO SHELL*
500,000-barrel cargoes of Murban at premiums in the AT $85.05 25KB AT $85.10 (08:29:20)
$1.30s/b to Dubai and at a premium in the $1.40s/b to PLATTS DUBAI: MAY24: MITSUI NO LONGER BIDS PLATTS DUBAI: MAY24: VITOL SELLS TO MERCURIA*
Dubai, FOB. AFTER TRADE 25KB AT $85.14 (08:29:22)
The spread between prompt cash Murban and PLATTS DUBAI: MAY24: PETROCHINA NO LONGER PLATTS DUBAI: MAY24: VITOL SELLS TO
Dubai stood at a one-month low of 19 cents/b on BIDS AFTER TRADE PETROCHINA* 25KB AT $85.14 (08:29:24)
March 21, Platts data showed. The spread was last PLATTS DUBAI: MAY24: TRAFIGURA NO LONGER PLATTS DUBAI: MAY24: VITOL SELLS TO MITSUI*
lower at 2 cents/b on Feb. 22. BIDS AFTER TRADE 25KB AT $85.14 (08:29:26)
Platts is part of S&P Global Commodity Insights. Offers: PLATTS DUBAI: MAY24: EXXONMOBIL SELLS TO
PLATTS DUBAI: MAY24: RELIANCE OFFERS 25KB AT PETROCHINA* 25KB AT $85.14 (08:29:28)
Platts Mideast Sour Crude Daily Rationales & $85.15 AND TRADES DURING EXTENSION PLATTS DUBAI: MAY24: VITOL SELLS TO
Exclusions PLATTS DUBAI: MAY24: TOTAL OFFERS 25KB TRAFIGURA* 25KB AT $85.10 (08:29:28)
Dubai Mo01 <PCAAT00> assessment rationale: AT $85.20 PLATTS DUBAI: MAY24: TOTAL SELLS TO MITSUI*
The May cash Dubai assessment March 22 took into PLATTS DUBAI: MAY24: IDEMITSU OFFERS 25KB 25KB AT $85.14 (08:29:31)
consideration bids and offers for cash Dubai partials AT $85.25 PLATTS DUBAI: MAY24: VITOL SELLS TO
that traded at $85.14-$85.15/b toward the end of the PLATTS DUBAI: MAY24: BP OFFERS 25KB AT $85.30 PETROCHINA* 25KB AT $85.14 (08:29:33)
Platts Market on Close assessment process. PLATTS DUBAI: MAY24: GUNVOR OFFERS 25KB PLATTS DUBAI: MAY24: VITOL SELLS TO MERCURIA*
Oman Blend Mo01 <PCABS00> assessment AT $85.35 25KB AT $85.14 (08:29:35)
rationale: The May cash Oman assessment March 22 PLATTS DUBAI: MAY24: VITOL NO LONGER OFFERS PLATTS DUBAI: MAY24: SHELL BUYS FROM VITOL*
took into consideration the declaration of one Oman AFTER TRADE 25KB AT $85.15 (08:29:37)
cargo on the convergence of Dubai partials. PLATTS DUBAI: MAY24: UNIPEC NO LONGER PLATTS DUBAI: MAY24: VITOL SELLS TO
Platts is part of S&P Global Commodity Insights. OFFERS AFTER TRADE PETROCHINA* 25KB AT $85.14 (08:29:38)
Exclusions: No market data was excluded from the PLATTS DUBAI: MAY24: EXXONMOBIL NO LONGER PLATTS DUBAI: MAY24: EXXONMOBIL SELLS TO
Middle East sour crude MOC. OFFERS AFTER TRADE MITSUI* 25KB AT $85.14 (08:29:39)
PLATTS DUBAI: MAY24: EQUINOR NO LONGER PLATTS DUBAI: MAY24: TRAFIGURA BUYS FROM
Platts Oil Mideast Sour Crude OFFERS AFTER TRADE EXXONMOBIL* 25KB AT $85.15 (08:29:40)
Convergences Trades: PLATTS DUBAI: MAY24: SHELL BUYS FROM
PLATTS DUBAI: MAY24: TOTAL SELLS TO MITSUI* EQUINOR* 25KB AT $85.20 (08:29:42)
Platts Crude: Vitol declares a cargo of May Oman 25KB AT $85.14 (08:29:07) PLATTS DUBAI: MAY24: VITOL SELLS TO
crude to PetroChina following the convergence of 20 PLATTS DUBAI: MAY24: VITOL SELLS TO PETROCHINA* 25KB AT $85.14 (08:29:43)
partials in Platts cash Dubai. PETROCHINA* 25KB AT $85.14 (08:29:11) PLATTS DUBAI: MAY24: SHELL BUYS FROM VITOL*
PLATTS DUBAI: MAY24: TOTAL SELLS TO MITSUI* 25KB AT $85.15 (08:29:43)
Platts Middle East Sour Crude Bids, Offers, 25KB AT $85.14 (08:29:14) PLATTS DUBAI: MAY24: SHELL BUYS FROM
Trades PLATTS DUBAI: MAY24: VITOL SELLS TO UNIPEC* 25KB AT $85.20 (08:29:44)
PETROCHINA* 25KB AT $85.14 (08:29:15) PLATTS DUBAI: MAY24: TOTAL SELLS TO MITSUI*
Bids: PLATTS DUBAI: MAY24: VITOL SELLS TO 25KB AT $85.14 (08:29:45)
PLATTS DUBAI: MAY24: SHELL BIDS 25KB AT $85.10 PETROCHINA* 25KB AT $85.14 (08:29:19) PLATTS DUBAI: MAY24: VITOL SELLS TO SHELL*
AND TRADES DURING EXTENSION PLATTS DUBAI: MAY24: VITOL SELLS TO MITSUI* 25KB AT $85.10 (08:29:45)

PLATTS DUBAI: MAY24: TRAFIGURA BUYS FROM Platts Asia Pacific Sweet Crude Daily sold to Taiwan’s CPC, at around May Dubai plus low
EXXONMOBIL* 25KB AT $85.15 (08:29:47) Market Analysis $4s/b, CFR Taiwan, according to a trade source.
PLATTS DUBAI: MAY24: VITOL SELLS TO
Trade emerges for Malaysia’s Labuan crude
PETROCHINA* 25KB AT $85.14 (08:29:48)** Platts Asia Light Sweet Crude Daily Rationale &
PLATTS DUBAI: MAY24: VITOL SELLS TO MITSUI* Softening levels seen for WTI Midland crude Exclusions
25KB AT $85.14 (08:29:49) into Asia ESPO FOB Kozmino Mo01 Spore vs Dubai Mo01
PLATTS DUBAI: MAY24: EXXONMOBIL SELLS TO <AASEU00> assessment rationale: The ESPO M1 May
TRAFIGURA* 25KB AT $85.10 (08:29:51) The Asia-Pacific sweet crude market on March 22 assessment March 22 took into consideration the
PLATTS DUBAI: MAY24: VITOL SELLS TO saw a fresh trade emerge for Malaysian barrels loading latest trade indications heard in the broader market.
PETROCHINA* 25KB AT $85.14 (08:29:52) over May. Platts is part of S&P Global Commodity Insights.
PLATTS DUBAI: MAY24: SHELL BUYS FROM VITOL* Price details have emerged for Malaysia’s medium Exclusions: No market data was excluded from the
25KB AT $85.15 (08:29:54) sweet Kikeh crude cargo held by ConocoPhillips. Asia-Pacific crude Platts Market on Close assessment
PLATTS DUBAI: MAY24: SHELL BUYS FROM The cargo, loading over May 3-7, was heard sold at a process.
EXXONMOBIL* 25KB AT $85.15 (08:29:55) premium in the $7s/b to the Platts Dated Brent crude
PLATTS DUBAI: MAY24: VITOL SELLS TO MITSUI* assessments, FOB. Platts Asia Light Sweet Crude Bids, Offers,
25KB AT $85.14 (08:29:55) Meanwhile, Malaysia’s Petco sold a May-loading Trades
PLATTS DUBAI: MAY24: SHELL BUYS FROM cargo of Labuan crude at a premium in the $9s/b to
UNIPEC* 25KB AT $85.15 (08:29:55) Dated Brent on an FOB basis, sources said. Further Bids: NIL
PLATTS DUBAI: MAY24: EXXONMOBIL SELLS TO details of the trade were not yet available. Offers: NIL
PETROCHINA* 25KB AT $85.14 (08:29:55) “The price levels indicate softness in the market,” Trades: NIL
PLATTS DUBAI: MAY24: VITOL SELLS TO an Asia-based crude trader said. This assessment commentary applies to the
PETROCHINA* 25KB AT $85.14 (08:29:59) “Gasoil cracks have fallen, and there are a few major following market data code: ESPO M1 vs Dubai M2
PLATTS DUBAI: MAY24: SHELL BUYS FROM VITOL* refineries in the region undergoing maintenance - <AASEU00>
25KB AT $85.15 (08:30:00) Bangchak, Petron and Taiyo,” another trader said.
PLATTS DUBAI: MAY24: PETROCHINA BUYS FROM The second-month gasoil and jet crack spreads
UNIPEC* 25KB AT $85.15 (08:30:00) averaged $21.19/b and $19.38/b, respectively, at the Subscriber Notes
PLATTS DUBAI: MAY24: VITOL SELLS TO MITSUI* March 21 Asian close, compared to the February
25KB AT $85.14 (08:30:00) averages of $23.93/b and $21.73/b, S&P Global Platts corrects ICE Brent crude futures at 4:30 pm
PLATTS DUBAI: MAY24: PETROCHINA BUYS FROM data showed. Singapore time March 18
RELIANCE* 25KB AT $85.15 (08:30:01) In the delivered crude markets, softer levels were Platts, part of S&P Global Commodity Insights, has
PLATTS DUBAI: MAY24: VITOL SELLS TO SHELL* seen for US WTI Midland crude into Asia. corrected its March 18 assessments for ICE Brent
25KB AT $85.10 (08:30:03) Trading house Vitol was heard to have sold 2 million crude futures at 4:30 pm Singapore time, which should
**Platts Crude: Vitol declares a cargo of May Oman barrels of WTI Midland for June-delivery, at a premium read as follows:
crude to PetroChina following the convergence of 20 around $3.40/b to May Dated Brent on a delivered Assessment Name Code Corrected Value
ICE Brent at Singapore MOC MO02 XILLA02 85.32
partials in Platts cash Dubai. basis into Asia. ICE Brent at Singapore MOC Time Spread
AAZ0102 0.62
This assessment commentary applies to the “Prices of WTI Midland are quite volatile, it could MO01/MO02
following market data codes: Dubai M1 <PCAAT00>, be due to lower prices on FOB basis on the other ICE Brent at Singapore MOC Time Spread
AAZ0203 0.69
MO02/MO03
Oman M1 <PCABS00> continent,” said a trader.
Previously, June-delivery WTI Midland crude was

These assessments appear in the Crude Oil For written comments, please provide a clear Platts launches European ULSD, gasoil, jet cash
Marketwire, Oilgram Price Report and Platts Global indication if comments are not intended for publication differential assessments
Alert/Platts Crude Oil Alert on pages 0703 and 1201. by S&P Global for public viewing. S&P Global will Platts, part of S&P Global Commodity Insights,
consider all comments received and make comments launched new daily Mean of Platts London (MOPL)
Platts includes SA Equatorial FSU in Singapore fuel not marked as confidential available upon request. cash differential assessments on March 1, 2024 for
oil cargo, ex-wharf bunker MOC from March 18 a number of benchmark European middle distillate
Platts, part of S&P Global Commodity Insights, has Sahara Energy International to join Asia gasoil and markets, in response to industry feedback.
included the vessel SA Equatorial as an additional Asia jet fuel physical MOC These new MOPL differential assessments reflect
loading point in its Platts Singapore Market on Sahara Energy International Pte Ltd. has advised the value of the physical product in relation to the
Close assessment process for cargo and ex-wharf Platts, part of S&P Global Commodity Insights, that it underlying forward curve aligned with the loading or
bunkers for marine fuel 0.5% and 380 CST HSFO from would like to participate in the Platts Market on Close delivery window reflected in the physical assessment,
March 18. assessment process for Asia gasoil and Asia jet fuel also known as the MOPL strip. The MOPL strip is
SA Equatorial (IMO 9116400) is operated by physical. defined as the average of the forward values for
Southern Ace Marine Sdn. Bhd. as a floating storage Platts has reviewed Sahara Energy International Pte the sequence of the 16 days for cargoes and either
unit at Tanjung Pelapas, within Johor Bahru Port Limits Ltd. and will consider information from the entity in the 11 or 13 days for barges that represent the future
in southern Malaysia’s Johor state. assessment process for Asia gasoil and Asia jet fuel delivery or loading dates reflected in Platts middle
Platts first proposed including the FSU as physical, subject at all times to adherence with Platts distillates physical assessments. These strip values
an additional loading point in a subscriber note editorial standards. are calculated using Platts assessments of related
published Oct. 20, 2023: https://www.spglobal.com/ Platts will publish all relevant information from derivatives for balance month, month one and
commodityinsights/en/our-methodology/subscriber- Sahara Energy International Pte Ltd. accordingly. month two. Platts has also backfilled the new MOPL
notes/102023-platts-proposes-including-sa- Platts welcomes all relevant feedback regarding differential assessments to September 1, 2020, based
equatorial-fsu-in-singapore-fuel-oil-cargo-ex-wharf- MOC participation. Platts considers bids, offers and on the published values of physical assessment and
bunker-moc-from-dec-4. transactions by all credible and credit-worthy parties corresponding underlying strip values on the day.
There are now 10 FSUs approved as additional in its assessment processes. For example, on March 1, 2024, the ULSD 10ppmS CIF
loading points in the FOB Singapore cargo and ex- For comments and feedback, please contact NWE Cargo assessment will reflect delivery over March
wharf bunkers MOC process for marine fuel 0.5% and Platts editors at asia_products@spglobal.com and 11-March 26. The MOPL strip will equate to the average
380 CST HSFO. The standards applicable to approved market_integrity_review@spglobal.com. of March 11-March 26 calculated on the assessed
FSUs require that sellers specifically name the vessel forward curve. The MOPL cash differential will equate to
used as a loading point at the time of submitting offers Hari Raya Puasa publishing schedule for Asia Oil the outright ULSD 10ppmS CIF NWE Cargo assessment
to S&P Global for publishing. The S&P Global Commodity Insights office in value on March 1 minus the MOPL strip value.
Any offer of oil from vessels accredited for the FOB Singapore will be closed April 10, for the Hari Raya The new differential assessments will be published
Singapore cargo and ex-wharf bunkers MOC process Puasa holiday, and there will be no oil publications or alongside and complement the following Platts middle
for marine fuel 0.5% and 380 CST HSFO would be on assessments from Singapore on that day. distillates assessments, which are informed by bids,
FOB FSU basis. The normal Singapore publishing schedule will offers and trades reported in the Platts Market on
Sellers cannot unilaterally nominate an approved resume April 11. Close Assessment process:
vessel as a loading point in FOB Straits trades. For full details of Platts publishing schedule and Assessment Code MOPL Differential
ULSD 10ppmS CIF NWE Cargo AAVBG00 AMOPL00
Please send all feedback and comments services affected, refer to http://www.platts.com/ ULSD 10ppmS CIF Med Cargo AAWYZ00 AMOPN00
to asia_products@spglobal.com and HolidayHome. ULSD 10ppmS FOB ARA Barge AAJUS00 AMOPM00
Gasoil 0.1%S CIF NWE Cargo AAYWS00 AMOPH00
pricegroup@spglobal.com. For queries, please contact support@spglobal.com. Gasoil .1%S (1000ppm) CIF Med Cargo AAVJJ00 AMOPI00

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

Jet CIF NWE Cargo PJAAU00 AMOPJ00 by Platts for public viewing. Platts will consider all they continue to reflect the physical markets under
Jet Barges FOB FARAG PJABA00 AMOPK00 comments received and will make comments not assessment, and regularly assesses the relevance
marked as confidential available upon request. of methodologies through continuous contact with
The new differential assessments appear in Platts the market. Feedback on methodologies is always
European Marketscan, US Marketscan, Oilgram Price Platts invites feedback on Global Oil Timing and welcomed by Platts.
Report, Asia-Pacific-Arab Gulf Marketscan and Platts Increment Guidelines Please send all feedback, comments or
Global Alert and Platts Refined Products Alert pages As part of its commitment to open and transparent questions to oilgroup@spglobal.com and
1110, 1112, 1114, 1410 and 1420. pricing and product specifications, Platts, part of pricegroup@spglobal.com.
Please send any comments or feedback S&P Global Commodity Insights, would like to invite For written comments, please provide a clear
to europe_products@spglobal.com and feedback on its Global Oil Timing and Increment indication if comments are not intended for publication
pricegroup@spglobal.com Guidelines, specifically the guidelines described in the by Platts for public viewing. Platts will consider all
For written comments, please provide a clear methodology guide posted online here. comments received and will make comments not
indication if comments are not intended for publication Platts reviews all methodologies annually to ensure marked as confidential available upon request.

China tanker fixtures

Vessel name Volume (kt) Grade Origin Port Arrival Buyers
ABUNDANCE III 268 Mal Blend Malaysia Dongjiakou 2/22/2024 TBA

ACRUX 124 Sururu Brazil Yantai 3/18/2024 ChemChina
ACRUX 133 Sepia Brazil Yantai 3/18/2024 ChemChina
AFRAMAX RIO 60 Fuel Oil Malaysia Changxing Island 3/20/2024 Hengli Petrochemical
AMBER 6 95 ESPO Russia Dongying 3/1/2024 Hualian
AMOR 260 Crude Malaysia Rizhao 3/13/2024 TBA
APOLYTARES 132 Murban UAE Yantai 3/25/2024 ChemChina
ATLANTICOS 30 Fuel Oil Russia Dongying 3/9/2024 TBA
AULIS 100 ESPO Russia Dongjiakou 3/8/2024 Lijin
BOREAS 134 Mal Blend Malaysia Dongjiakou 3/5/2024 Xin Rui Ji
CAPTAIN KOSTICHEV 100 Sokol Russia Tianjin 3/15/2024 TBA
COSWISH LAKE 135 Mero Brazil Yantai 3/5/2024 ChemChina
COSWISH LAKE 135 Sepia Brazil Yantai 3/5/2024 ChemChina
CRIUS 90 ESPO Russia Dongying 3/1/2024 Hualian
CRIUS 100 ESPO Russia Dongjiakou 3/16/2024 Lijin
CY VICTORIOUS 70 Fuel Oil Malaysia Yantai 3/8/2024 Xintai
DHT HARRIER 133 Tupi Brazil Yantai 3/18/2024 ChemChina
DHT HARRIER 133 Sepia Brazil Yantai 3/18/2024 ChemChina
DIAMOND 95 Fuel Oil Russia Qingdao 3/4/2024 Shangneng
DIMITRA II 100 Mal Blend Malaysia Yantai 3/15/2024 Wantong
DOLPHIN 60 Mal Blend Malaysia Dongying 2/24/2024 Wantong
EMILY S 100 ESPO Russia Rizhao 3/2/2024 Fengli
EMILY S 98 ESPO Russia Dongying 3/24/2024 TBA
ENEOS ARROW 273 Arab Light Saudi Arabia Zhoushan 2/25/2024 Zhejiang Petroleum & Chemical
FRONT MAINE 135 Al Shaheen UAE Changxing Island 3/17/2024 Hengli Petrochemical
FRONT MAINE 135 Arab Heavy Saudi Arabia Changxing Island 3/17/2024 Hengli Petrochemical
GALAXY STAR 135 Mal Blend Malaysia Yantai 2/26/2024 Qicheng
GALAXY STAR 135 Mal Blend Malaysia Yantai 2/26/2024 Xintai
GLORY FOREVER 140 Fuel Oil Malaysia Yantai 3/10/2024 Xintai
HARBOUR SPLENDOR 131 Murban UAE Yantai 3/4/2024 ChemChina
HECATE 264 Nemina Malaysia Qingdao 2/22/2024 Gangyi
HEIDI A 100 ESPO Russia Qingdao 3/6/2024 Chenyang Jiuming
HEIDI A 98 ESPO Russia Dongying 3/25/2024 TBA
HIMALAYAN 96 ESPO Russia Dongying 3/12/2024 TBA
HUIHAI PACIFIC 100 ESPO Russia Rizhao 3/16/2024 TBA
HUIHAI PACIFIC 100 ESPO Russia Dongjiakou 3/4/2024 TBA
JAL GAMINI 140 Mal Blend Malaysia Rizhao 2/19/2024 Fengli
KOROLEV PROSPECT 100 ESPO Russia Rizhao 3/6/2024 TBA
KRYMSK 94 Sokol Russia Dongying 3/8/2024 Haike Ruilin
LADY SOFIA 100 Belayim Malaysia Yantai 2/20/2024 Jincheng
LANDBRIDGE HORIZON 279 Arab Light Saudi Arabia Zhoushan 2/25/2024 Zhejiang Petroleum & Chemical
LEGIO X EQUESTRIS 270 Qatar Marine Qatar Lianyungang 3/2/2024 Shenghong Petrochemical
LEONOR 270 Mal Blend Malaysia Qingdao 3/11/2024 TBA
LITEYNY PROSPECT 100 Sokol Russia Huanghua 3/5/2024 Hebei Xinhai
MARAN LIBRA 141 Basrah Heavy Iraq Zhoushan 3/15/2024 Zhejiang Petroleum & Chemical
MARAN LIBRA 130 Arab Extra Light Saudi Arabia Zhoushan 3/15/2024 Zhejiang Petroleum & Chemical
MATALA 100 Peregrino TBA Longkou 3/5/2024 TBA
MERMAR 90 ESPO Russia Dongying 3/4/2024 Hualian
MERMAR 90 ESPO Russia Dongying 3/20/2024 TBA

China tanker fixtures (continued)

MINERVA V 100 Bitumen Blend Malaysia Yantai 2/29/2024 Xintai

MINERVA V 100 Bitumen Blend Malaysia Tianjin 3/2/2024 Hebei Xinhai
MIRA 95 ESPO Russia Dongying 3/2/2024 Tianhong
MISTRAL 1 98 ESPO Russia Dongying 3/6/2024 Wantong
MISTRAL 1 98 ESPO Russia Dongying 3/26/2024 TBA
NELLIS 90 Sokol Russia Dongjiakou 3/6/2024 Qicheng
NEW EMINENCE 280 Arab Heavy Saudi Arabia Changxing Island 3/6/2024 Hengli Petrochemical
NEW PARADISE 135 Upper Zakum UAE Lianyungang 3/17/2024 Shenghong Petrochemical
NEW PARADISE 135 Qatar Marine Qatar Lianyungang 3/17/2024 Shenghong Petrochemical
NEW VISION 135 Arab Light Saudi Arabia Zhoushan 3/6/2024 Zhejiang Petroleum & Chemical
NEW VISION 145 Al Shaheen UAE Zhoushan 3/6/2024 Zhejiang Petroleum & Chemical
NEW WEALTH 280 Upper Zakum UAE Changxing Island 3/1/2024 Hengli Petrochemical
NICHOLE 100 ESPO Russia Rizhao 3/9/2024 TBA
NICHOLE 100 ESPO Russia Tianjin 3/23/2024 TBA
NIKOLAY ZUYEV 100 ESPO Russia Dongjiakou 3/16/2024 Lijin
NS AFRICA 100 Fuel Oil Russia Dongjiakou 3/21/2024 PetroChina
NS ANTARCTIC 95 Sokol Russia Qingdao 3/16/2024 TBA
NS CENTURY 95 Sokol Russia Qingdao 3/14/2024 Huajin Xiangrun
NS CLIPPER 100 ESPO Russia Longkou 3/2/2024 Kenli
NS LION 100 Sokol Russia Huizhou 3/13/2024 TBA
NS POWER 30 Fuel Oil Russia Dongying 3/14/2024 TBA
OCEAN HERMANA 150 Crude Malaysia Rizhao 3/7/2024 Dongming
OCEAN LOYALTY 285 Arab Light Saudi Arabia Zhoushan 3/9/2024 Zhejiang Petroleum & Chemical
PACIFIC LOYALTY 95 Al Shaheen UAE Zhoushan 2/25/2024 Zhejiang Petroleum & Chemical
PACIFIC LOYALTY 68 Arab Light Saudi Arabia Zhoushan 2/25/2024 Zhejiang Petroleum & Chemical
PACIFIC LOYALTY 117 Arab Extra Light Saudi Arabia Zhoushan 2/25/2024 Zhejiang Petroleum & Chemical
PAVEL CHERNYSH 100 Sokol Russia Longkou 2/29/2024 Xintai
PAVEL CHERNYSH 100 Sokol Russia Huizhou 3/24/2024 TBA
SAKHALIN ISLAND 100 Sokol Russia Tianjin 3/19/2024 Xinyue
SAVA 270 Mal Blend Malaysia Dongjiakou 3/2/2024 Xin Rui Ji
SEA SPLENDOR 135 Arab Extra Light Saudi Arabia Zhoushan 3/20/2024 Zhejiang Petroleum & Chemical
SEA SPLENDOR 140 Arab Light Saudi Arabia Zhoushan 3/15/2024 Zhejiang Petroleum & Chemical
SEAWAYS TYBEE 135 Atapu Brazil Zhoushan 3/17/2024 Zhejiang Petroleum & Chemical
SEAWAYS TYBEE 145 Tupi Brazil Zhoushan 3/17/2024 Zhejiang Petroleum & Chemical
SI HE 100 ESPO Russia Lianyungang 3/1/2024 Shenghong Petrochemical
SI HE 98 ESPO Russia Dongying 3/17/2024 TBA
SOMERSET 280 Fuel Oil Malaysia Yantai 3/16/2024 Xintai
SPIRIT OF CASPER 143 Fuel Oil Malaysia Yantai 3/7/2024 Xintai
STATICE 265 Mal Blend Malaysia Dongjiakou 3/6/2024 Xin Rui Ji
SURREY QUAYS 100 ESPO Russia Dongjiakou 3/1/2024 Qirun
TAMIA 270 Basrah Medium Iraq Lianyungang 2/28/2024 Shenghong Petrochemical
THALIA III 100 ESPO Russia Longkou 3/3/2024 TBA
THALIA III 96 ESPO Russia Dongying 2/21/2024 Haike Ruilin
THEMIS 86 ESPO Russia Dongying 3/2/2024 Yatong
THEMIS 96 ESPO Russia Dongying 3/21/2024 TBA
TURACO 90 Fuel Oil Russia Qingdao 3/10/2024 Shangneng
VESNA 98 ESPO Russia Dongying 3/12/2024 TBA
VICTOR KONETSKY 90 Sokol Russia Dongying 3/7/2024 Yatong
VICTOR KONETSKY 7 Sokol Russia Longkou 3/2/2024 Yatong
VICTOR KONETSKY 100 Sokol Russia Dalian 3/25/2024 TBA

China tanker fixtures (continued)

VIGOR 270 Fuel Oil Malaysia Dongjiakou 2/18/2024 Yueyang Guansheng

VIKTOR TITOV 100 Sokol Russia Tianjin 3/16/2024 TBA
VLADIMIR ARSENYEV 95 Sokol Russia Tianjin 3/10/2024 TBA
WEST LOYALTY 285 Arab Extra Light Saudi Arabia Zhoushan 3/6/2024 Zhejiang Petroleum & Chemical
YANNIS 270 Mal Blend Malaysia Yantai 3/16/2024 TBA
YURI SENKEVICH 100 Sokol Russia Dalian 3/6/2024 TBA

International Dirty Tanker Fixtures (PGT page 2950)

Ship name Size Type Date Route Rate Charterer
East of Suez
Desh Viraat o/o 265 CR Apr8 J Dhanna+Basrah-Kochi w86 BPCL

Desh Ujaala 250 CR Apr11 J Dhanna+Das-Paradip w77 IOC
Desh Abhimaan 125 CR Apr6 Kuwait-Mumbai w138 BPCL
Kriti Journey 80 CR Apr3 STS Sungai Linggi-Thailand $820k PTT
Tbn 62 COND Apr6 Malampaya-Thailand rnr Chevron
Bei Hai Qi Lin 60 FO dnr Japan-Spore rnr Idemitsu
Baltic/UKC
No fixtures reported.
Med
Aquafreedom 130 CR Apr6 Marsa El Hariga-East $4.75m Unipec
Minerva Kalypso 130 CR Apr1 Marsa El Hariga-Treiste w110 Unipec
Euroleader 100 CR Apr4 SKerir-Gdansk $1.675m Orlen
Nemo 100 CR Apr10 SKerir-Gdansk $1.7m Orlen
Yannis P 80 CR Apr7 CPC-Med, Demurrage w190, $50k/d Eni
Palladium 80 CR Apr1 Es Sider-Bourgas rnr BGN
Seliger 80 CR Mar31 Algeria-Med w160 Petroineos
West Africa
Legio X Equestris 260 CR Apr20 Nigeria-East, Demurrage w70, $67.5k/d Total

Ottoman Nobility 130 CR Apr3 Erha-Durban, UKC, Med w115, 105, rnr cnr
Americas
Seatriumph 270 CR Apr10 USGC-Ningbo, Demurrage $8.75m, $75k/d Vitol

DHT Redwood 270 CR Apr6 PTP-East rnr Unipec
Minerva Alexandra 70 CR Apr2 USGC-UKCM w152.5 Chevy
Torm Tbn 70 CR Apr3 USGC-Butinge w155 ATMI
CR:Crude, FO: Fuel Oil, ppt: Prompt, cnr: charterer not reported, rnr: rate not reported, dnr: date not reported, coa: contract of affreightment, o/p: own program, o/o: owner’s option

International clean tanker fixtures (PGT page 2904)

Ship name Size Type Date Route Rate Charterer
East of Suez
Proteus Tracy 90 CL Apr1 PG-Opts o/p Shell
Searover 75 CL Apr11 Ruwais-Japan rnr Admic
Anwaar Benghazi 75 NA Apr3 PG-Japan w312.5 Shell
Torm Eva 60 NA Mar30 RSea-UKC, Opts $3.25m, rnr ATS
Sunrise 60 JET Mar29 Sikka-UKC, USAC $5.5m, $6.1m RIL
Margarita 60 ULSD Mar26 Cross-RSea $800k ATC
Navig8 Montiel 60 ULSD Mar26 Cross-RSea $800k ATC
Navig8 Martinez 55 NA Apr5 PG-Japan Platts OQ
Soyia 35 CL Mar26 Yanbu-Djibouti, Opts $735k, rnr Vitol
Qian Chi 35 NA Apr3 Chennai-Japan w285 Admic
Ocean Spirit 35 CL Mar23 Sikka-Fujairah o/p Vitol
Sundoro 35 CL Mar25 NMangalore-PG rnr ENOC
CSK Valiant 80 COND Apr1 NWAustralia-Japan w180 Chevron
Yuan He Wan 80 COND Mar25 Prelude-Opts o/p Shell
Tbn 60 COND Apr4 Malampaya-Thailand rnr Chevron
Pacific Diamond 35 CL Mar24 Taiwan-Japan $460k Idemitsu
Magnolia Express 35 ULSD Apr2 Chiba-Australia, Opts w327.5, rnr Ampol
Coral Express 35 UNL Mar29 Onsan-Spore, USWC o/p ATS
Crimson Jade 35 NA Mar26 SKorea-Japan $700k Marubeni
Tbn 35 ULSD Apr2 Japan-Australia, NewZealand rnr, rnr Ampol
Tbn 35 ULSD Apr1 Zhoushan-Spore, Philippines, Chittagong rnr, rnr, rnr Unipec
STI Modest 35 CL Mar29 Gaoqiao-Australia, NewZealand rnr, rnr Idemitsu
Weco Malou 35 UNL Mar28 Yeosu-Australia, NewZealand o/p Ampol
Tbn 35 ULSD Apr1 SKorea-Australia o/p ST
Harrisburg 35 CL Apr1 Mailiao-Australia w322.5 Vitol
Pacific Tamerlane 35 UNL Mar28 Spore-Australia w305 BP
Grand Winner 1 35 CL Apr12 Spore-USWC rnr Neste
Baltic /UKC
Yasa Vega 37 ULSD Mar25 ARA-Gdynia w245 Orlen
Katherine Lady 37 UNL Mar29 Nspain-TA, UKC, Med, USWC w212.5, w222.5, w222.5,w302.5 Repsol
NCC Danah 37 UNL Mar28 Le Hacre-TA w205 Total
VS Lisbeth 30 UNL Mar26 Fawley-UKC, Med w260, w250 Exxon
Sea Cirrus 30 GO Mar26 Fawley-Med, Morocco, Canarries w250, w260, w265 Mercuria
Med
Silver Houston 37 CL Mar28 SpMed-TA w235 Repsol
Tbn 30 CL Mar27 Med-Med w335 Eni
Sea Stratus 30 NA Mar26 Sines-Med, UKC, TA w340, w290, w340 Repsol
Americas
Torm Sublime 38 CL Mar23 USGC-Arica, Demurrage $3.1m, $45k/d Vitol
CL:Clean, NA:Naphtha, UN:Unleaded, JT: Jet, GO:Gasoil, ppt: Prompt, cnr: charterer not reported, rnr: rate not reported, dnr: date not reported, coa: contract of affreightment, o/p: own program, o/o: owner’s option

APAC Deals Summary $100.10/bbl 8:29:46 Platts Mogas 92: APR24: DARE offers 25kb $100.10/bbl
Platts Mogas 92: APR24: ARAMCOSG sold to ONYX* 25kb Platts Mogas 92: APR24: DARE offers 25kb $100.10/bbl
$100.10/bbl 8:29:48 Platts Mogas 92: APR24: THEMEINT offers 25kb $100.15/bbl
Gasoline FOB Spore Cargo
Platts Mogas 92: APR24: UNIPECSG sold to ONYX* 25kb Platts Mogas 92: APR24: UNIPECSG offers 25kb $100.15/bbl
Trades (PGA page 2315) $100.08/bbl 8:29:53
Platts Mogas 92: APR24: UNIPECSG offers 25kb $100.15/bbl
Platts Mogas 92: APR9-APR13: *PTT sold to UNIPECSG* Platts Mogas 92: APR24: ENGIESG sold to THEMEINT* 25kb
Platts Mogas 92: APR24: AKARITRADING offers 50kb
50kb FOB Straits $101.00/bbl 8:29:22 $100.08/bbl 8:29:57
$100.19/bbl
Platts Mogas 95: APR12-APR16: *PTT sold to VITOLSG* 50kb Platts Mogas 92: APR24: UNIPECSG sold to EQUINOR* 25kb
Platts Mogas 92: APR24: THEMEINT offers 25kb $100.20/bbl
FOB Straits MOPS 95 $0.80/bbl 8:29:11 $100.08/bbl 8:29:59
Platts Mogas 92: APR24: MFLCDTY offers 25kb $100.25/bbl
* Denotes market maker. All times GMT Platts Mogas 92: APR24: DARE sold to EQUINOR* 25kb
$100.08/bbl 8:30:05 Platts Mogas 92: APR24: ARAMCOSG offers 25kb
Bids (PGA page 2313)
* Denotes market maker. All times GMT $100.29/bbl
APR12-APR16: BPSG bids 100kb FOB Straits $100.88/bbl Platts Mogas 92: APR24: FREEPTASIA offers 25kb
Bids (PGA page 4009)
APR15-APR19: BPSG bids 100kb FOB Straits $100.78/bbl $100.30/bbl
Platts Mogas 92: APR24: THEMEINT bids 25kb $100.06/bbl
APR17-APR21: PETROCHINA bids 100kb FOB Straits MOPS Platts Mogas 92: APR24: THEMEINT offers 25kb $100.30/bbl
92 $0.40/bbl Platts Mogas 92: APR24: ONYX bids 25kb $100.05/bbl
Platts Mogas 92: APR24: UITSG offers 25kb $100.30/bbl
Withdrawals Platts Mogas 92: APR24: UITSG bids 25kb $100.00/bbl
Platts Mogas 92: APR24: VITOLSG offers 25kb $100.30/bbl
Platts Mogas 92: APR9-APR13: **UNIPECSG Withdraws bid Platts Mogas 92: APR24: VITOLSG bids 25kb $100.00/bbl
Platts Mogas 92: APR24: ONYX offers 25kb $100.60/bbl
50kb FOB Straits MOPS 92 $0.20/bbl Platts Mogas 92: APR24: FREEPTASIA bids 25kb $99.98/bbl
Platts Mogas 92: APR24: EQUINOR offers 25kb $100.68/bbl
Platts Mogas 92: APR9-APR13: **UNIPECSG no longer bids Platts Mogas 92: APR24: MFLCDTY bids 25kb $99.95/bbl
Platts Mogas 92: APR24: ONYX offers 25kb $100.70/bbl
50kb FOB Straits $101.00/bbl Platts Mogas 92: APR24: THEMEINT bids 25kb $99.90/bbl
Withdrawals
Platts Mogas 95: APR12-APR16: **VITOLSG no longer bids Withdrawals
50kb FOB Straits MOPS 95 $0.80/bbl No offers reported
Platts Mogas 92: APR24: DARE Withdraws bid 25kb ** Denotes OCO order.
Platts Mogas 97: APR17-APR21: **VITOLSG Withdraws bid $100.10/bbl
50kb FOB Straits MOPS 92 $5.50/bbl
Platts Mogas 92: APR24: ONYX no longer bids 25kb
** Denotes OCO order. Gasoline FOB Spore Paper Spreads
$100.10/bbl
Offers (PGA page 2314) Trades (PGA page 4011)
Platts Mogas 92: APR24: VITOLSG Withdraws bid 25kb
Platts Mogas 92: APR10-APR14: PTT offers 50kb FOB Straits $100.10/bbl Platts Mogas 92 spread: APR24/MAY24: BPSG* sold to
$101.00/bbl Platts Mogas 92: APR24: EQUINOR no longer bids 25kb SKEISG 25kb $1.42/bbl 8:14:03
Platts Mogas 92: APR17-APR21: VITOLSG offers 50kb FOB $100.08/bbl Platts Mogas 92 spread: APR24/MAY24: VITOLSG* sold to
Straits MOPS 92 $1.10/bbl Platts Mogas 92: APR24: ONYX no longer bids 25kb SKEISG 25kb $1.43/bbl 8:14:05
Withdrawals $100.08/bbl Platts Mogas 92 spread: APR24/MAY24: ARAMCOSG* sold
No offers reported Platts Mogas 92: APR24: THEMEINT no longer bids 25kb to SKEISG 25kb $1.43/bbl 8:14:06
** Denotes OCO order. $100.08/bbl Platts Mogas 92 spread: APR24/MAY24: FREEPTASIA* sold
Platts Mogas 92: APR24: DARE Withdraws bid 25kb to SKEISG 25kb $1.43/bbl 8:18:00
$100.00/bbl
Gasoline FOB Spore Paper Platts Mogas 92 spread: APR24/MAY24:
Platts Mogas 92: APR24: DARE Withdraws bid 25kb MERCURIARESOURCES* sold to SKEISG 25kb $1.43/
Trades (PGA page 4011) $99.95/bbl bbl 8:18:14
Platts Mogas 92: APR24: UITSG sold to ONYX* 25kb $100.15/ ** Denotes OCO order. Platts Mogas 92 spread: APR24/MAY24: GUNVORSG* sold to
bbl 8:29:34 Offers (PGA page 4010) SKEISG 25kb $1.43/bbl 8:18:20
Platts Mogas 92: APR24: DARE sold to VITOLSG* 25kb Platts Mogas 92 spread: APR24/MAY24: FREEPTASIA* sold
Platts Mogas 92: APR24: DARE offers 25kb $100.10/bbl

to SKEISG 25kb $1.43/bbl 8:19:01 SIETCO 25kb $1.82/bbl 8:17:32 Platts Mogas 92 spread: APR24/MAY24: ARAMCOSG bids
Platts Mogas 92 spread: APR24/MAY24: ARAMCOSG* sold Platts Mogas 92 spread: MAY24/JUN24: ARIONINV sold to 25kb $1.15/bbl
to SKEISG 25kb $1.43/bbl 8:19:04 FREEPTASIA* 25kb $1.80/bbl 8:24:07 Platts Mogas 92 spread: MAY24/JUN24: FREEPTASIA bids
Platts Mogas 92 spread: APR24/MAY24: FREEPTASIA* sold Platts Mogas 92 spread: MAY24/JUN24: VITOLSG* sold to 25kb $1.78/bbl
to SIETCO 25kb $1.43/bbl 8:19:15 SKEISG 25kb $1.80/bbl 8:29:51 Platts Mogas 92 spread: MAY24/JUN24: ENGIESG bids 25kb
Platts Mogas 92 spread: APR24/MAY24: ARAMCOSG* sold * Denotes market maker. All times GMT $1.70/bbl
to SKEISG 50kb $1.43/bbl 8:19:19 Bids (PGA page 4009) Platts Mogas 92 spread: MAY24/JUN24: ONYX bids 25kb
Platts Mogas 92 spread: APR24/MAY24: ARAMCOSG* sold $1.70/bbl
Platts Mogas 92 spread: BAL MONTH/APR24: EQUINOR bids
to SKEISG 100kb $1.43/bbl 8:19:26 Platts Mogas 92 spread: MAY24/JUN24: ONYX bids 25kb
25kb $0.28/bbl
Platts Mogas 92 spread: APR24/MAY24: FREEPTASIA* sold $1.70/bbl
Platts Mogas 92 spread: APR24/MAY24: BPSG bids 25kb
to SKEISG 25kb $1.43/bbl 8:19:30 Platts Mogas 92 spread: MAY24/JUN24: P66SG bids 25kb
$1.40/bbl
Platts Mogas 92 spread: APR24/MAY24: EQUINOR bids 25kb
to SKEISG 200kb $1.43/bbl 8:19:35 Platts Mogas 92 spread: MAY24/JUN24: SIETCO bids 25kb
$1.40/bbl
Platts Mogas 92 spread: APR24/MAY24: BPSG* sold to $1.70/bbl
Platts Mogas 92 spread: APR24/MAY24: P66SG bids 25kb
SKEISG 50kb $1.43/bbl 8:19:45 Platts Mogas 92 spread: MAY24/JUN24: VITOLSG bids 25kb
$1.40/bbl
Platts Mogas 92 spread: APR24/MAY24: VITOLSG bids 25kb
to SKEISG 25kb $1.43/bbl 8:19:47 Platts Mogas 92 spread: MAY24/JUN24: EQUINOR bids 25kb
$1.40/bbl
Platts Mogas 92 spread: APR24/MAY24: THEMEINT bids
to SKEISG 400kb $1.43/bbl 8:19:49 Platts Mogas 92 spread: MAY24/JUN24: ARAMCOSG bids
25kb $1.36/bbl
Platts Mogas 92 spread: APR24/MAY24: ARAMCOSG* sold 25kb $1.65/bbl
Platts Mogas 92 spread: APR24/MAY24: DARE bids 25kb
to SKEISG 475kb $1.43/bbl 8:20:03 Platts Mogas 92 spread: MAY24/JUN24: DARE bids 25kb
$1.35/bbl
Platts Mogas 92 spread: APR24/MAY24: ONYX sold to $1.65/bbl
Platts Mogas 92 spread: APR24/MAY24: ENGIESG bids 25kb
VITOLSG* 25kb $1.42/bbl 8:22:49 Platts Mogas 92 spread: MAY24/JUN24:
$1.35/bbl
Platts Mogas 92 spread: APR24/MAY24: ONYX* sold to MERCURIARESOURCES bids 25kb $1.65/bbl
Platts Mogas 92 spread: APR24/MAY24: VITOLSG bids 25kb
SKEISG 400kb $1.43/bbl 8:23:07 Platts Mogas 92 spread: MAY24/JUN24: SKEISG bids 25kb
$1.35/bbl
Platts Mogas 92 spread: APR24/MAY24: VITOLSG* sold to $1.65/bbl
Platts Mogas 92 spread: APR24/MAY24: ONYX bids 25kb
SKEISG 25kb $1.43/bbl 8:28:09 Platts Mogas 92 spread: MAY24/JUN24: DARE bids 25kb
$1.31/bbl
Platts Mogas 92 spread: APR24/MAY24: FREEPTASIA bids
to SKEISG 25kb $1.43/bbl 8:28:14 Platts Mogas 92 spread: MAY24/JUN24: PETCO bids 25kb
25kb $1.30/bbl
Platts Mogas 92 spread: APR24/MAY24: ONYX* sold to $1.60/bbl
Platts Mogas 92 spread: APR24/MAY24:
SKEISG 250kb $1.43/bbl 8:28:24 Withdrawals
MERCURIARESOURCES bids 25kb $1.30/bbl
Platts Mogas 92 spread: APR24/MAY24: GUNVORSG* sold to No bids reported
Platts Mogas 92 spread: APR24/MAY24: SIETCO bids 25kb
DARE 50kb $1.44/bbl 8:29:56 ** Denotes OCO order.
$1.30/bbl
Platts Mogas 92 spread: APR24/MAY24: ARAMCOSG* sold Offers (PGA page 4010)
Platts Mogas 92 spread: APR24/MAY24: SKEISG bids 25kb
to SKEISG 100kb $1.43/bbl 8:30:03
$1.30/bbl Platts Mogas 92 spread: APR24/MAY24: ARAMCOSG offers
Platts Mogas 92 spread: MAY24/JUN24: VITOLSG* sold to
Platts Mogas 92 spread: APR24/MAY24: DARE bids 25kb 100kb $1.43/bbl
SKEISG 25kb $1.78/bbl 8:12:55
$1.25/bbl Platts Mogas 92 spread: APR24/MAY24: EQUINOR offers
Platts Mogas 92 spread: MAY24/JUN24: GUNVORSG* sold to
Platts Mogas 92 spread: APR24/MAY24: DARE bids 25kb 25kb $1.45/bbl
SKEISG 25kb $1.80/bbl 8:13:59
$1.20/bbl Platts Mogas 92 spread: APR24/MAY24: FREEPTASIA offers
Platts Mogas 92 spread: APR24/MAY24: PETCO bids 25kb 25kb $1.45/bbl
SKEISG 25kb $1.80/bbl 8:14:01
$1.20/bbl Platts Mogas 92 spread: APR24/MAY24: ONYX offers 25kb

$1.45/bbl Platts Mogas 92 spread: MAY24/JUN24: H2MAY24: BPSG bids 25kt $717.00/mt
Platts Mogas 92 spread: APR24/MAY24: EQUINOR offers MERCURIARESOURCES offers 25kb $1.90/bbl H2MAY24: **TOTALSG bids 25kt $716.00/mt
25kb $1.48/bbl Platts Mogas 92 spread: MAY24/JUN24: SKEISG offers 25kb H2MAY24: AGTASIA bids 25kt $713.00/mt
Platts Mogas 92 spread: APR24/MAY24: GUNVORSG offers $1.93/bbl
H2MAY24: BBEN bids 25kt $711.00/mt
25kb $1.48/bbl Withdrawals
H1JUN24: **TOTALSG bids 25kt $705.00/mt
Platts Mogas 92 spread: APR24/MAY24: ARAMCOSG offers Platts Mogas 92 spread: APR24/MAY24: ARAMCOSG no
H1JUN24: BBEN bids 25kt $703.00/mt
25kb $1.49/bbl longer offers 25kb $1.43/bbl
H1JUN24: BPSG bids 25kt $703.00/mt
Platts Mogas 92 spread: APR24/MAY24: ARAMCOSG offers Platts Mogas 92 spread: APR24/MAY24: BPSG no longer
25kb $1.50/bbl offers 50kb $1.43/bbl Withdrawals
Platts Mogas 92 spread: APR24/MAY24: DARE offers 25kb Platts Mogas 92 spread: APR24/MAY24: No bids reported
$1.50/bbl MERCURIARESOURCES no longer offers 25kb $1.43/bbl ** Denotes OCO order.
Platts Mogas 92 spread: APR24/MAY24: ONYX offers 25kb Platts Mogas 92 spread: APR24/MAY24: ONYX no longer Offers (PGA page 2324)
$1.50/bbl offers 250kb $1.43/bbl
H2MAY24: **GUNVORSG offers 25kt $721.00/mt
Platts Mogas 92 spread: APR24/MAY24: P66SG offers 25kb Platts Mogas 92 spread: APR24/MAY24: VITOLSG no longer
H2MAY24: **AGTASIA offers 25kt $722.00/mt
$1.50/bbl offers 25kb $1.43/bbl
H1JUN24: EQUINOR offers 25kt $712.00/mt
Platts Mogas 92 spread: APR24/MAY24: VITOLSG offers Platts Mogas 92 spread: APR24/MAY24: VITOLSG no longer
25kb $1.50/bbl offers 25kb $1.43/bbl H1JUN24: **AGTASIA offers 25kt $715.00/mt
Platts Mogas 92 spread: APR24/MAY24: DARE offers 25kb Platts Mogas 92 spread: APR24/MAY24: GUNVORSG no H1JUN24: **GUNVORSG offers 25kt $715.00/mt
$1.60/bbl longer offers 50kb $1.44/bbl Withdrawals
Platts Mogas 92 spread: APR24/MAY24: SKEISG offers 25kb Platts Mogas 92 spread: APR24/MAY24: PTT Withdraws offer H1MAY24: **SIETCO Withdraws offer 25kt $722.00/mt
$1.60/bbl 25kb $1.45/bbl
H2MAY24: **SIETCO no longer offers 25kt $718.00/mt
Platts Mogas 92 spread: APR24/MAY24: DARE offers 25kb Platts Mogas 92 spread: APR24/MAY24: PTT Withdraws offer
H1JUN24: EQUINOR Withdraws offer 25kt $719.00/mt
$1.70/bbl 25kb $1.50/bbl
** Denotes OCO order.
Platts Mogas 92 spread: MAY24/JUN24: ARAMCOSG offers Platts Mogas 92 spread: MAY24/JUN24: VITOLSG no longer
25kb $1.81/bbl offers 25kb $1.80/bbl
Naphtha C+F Japan Cargo Spreads
Platts Mogas 92 spread: MAY24/JUN24: GUNVORSG offers Platts Mogas 92 spread: MAY24/JUN24: VITOLSG no longer
25kb $1.81/bbl offers 25kb $1.80/bbl Trades (PGA page 2325)
Platts Mogas 92 spread: MAY24/JUN24: DARE offers 25kb Platts Mogas 92 spread: MAY24/JUN24: PTT Withdraws offer No trades reported
$1.85/bbl 25kb $1.90/bbl * Denotes market maker. All times GMT
Platts Mogas 92 spread: MAY24/JUN24: ONYX offers 25kb Platts Mogas 92 spread: MAY24/JUN24: PTT Withdraws offer Bids (PGA page 2323)
$1.85/bbl 25kb $1.95/bbl
Platts Mogas 92 spread: MAY24/JUN24: P66SG offers 25kb Platts Mogas 92 spread: MAY24/JUN24: PTT Withdraws offer No bids reported
$1.85/bbl 25kb $2.00/bbl Withdrawals
Platts Mogas 92 spread: MAY24/JUN24: VITOLSG offers ** Denotes OCO order. No bids reported
25kb $1.85/bbl ** Denotes OCO order.
Platts Mogas 92 spread: MAY24/JUN24: EQUINOR offers Naphtha C+F Cargo Offers (PGA page 2324)
25kb $1.88/bbl
Trades (PGA page 2325) No offers reported
Platts Mogas 92 spread: MAY24/JUN24: DARE offers 25kb
H2MAY24: *SIETCO* sold to BPSG 25kt $718.00/mt 8:29:53 Withdrawals
$1.90/bbl
Platts Mogas 92 spread: MAY24/JUN24: FREEPTASIA offers * Denotes market maker. All times GMT No offers reported
25kb $1.90/bbl Bids (PGA page 2323)

** Denotes OCO order. APR24: ERACOMM bids 50kb $-1.65/bbl APR24: DARE sold to NATBANKABUDHABI* 50kb $104.55/
APR24: DARE bids 50kb $-1.7/bbl bbl 8:29:43
Jet Kero FOB Spore Paper APR24: MERCURIARESOURCES bids 50kb $-1.8/bbl APR24: DARE* sold to NATBANKABUDHABI 50kb $104.55/
bbl 8:29:48
Trades (PGA page 4023) APR24: CONDACAP bids 50kb $-1.85/bbl
APR24: DARE sold to NATBANKABUDHABI* 50kb $104.55/
No trades reported APR24: UITSG bids 50kb $-1.85/bbl
bbl 8:29:52
* Denotes market maker. All times GMT APR24: ARAMCOSG bids 50kb $-2.4/bbl
APR24: HOTEI sold to BPSG* 50kb $104.45/bbl 8:29:53
Bids (PGA page 4021) Withdrawals
APR24: DARE* sold to NATBANKABUDHABI 50kb $104.55/
No bids reported bbl 8:29:57
APR24: DVTRADING bids 50kb $102.60/bbl
** Denotes OCO order. APR24: DARE sold to BPSG* 50kb $104.45/bbl 8:30:02
APR24: DARE bids 50kb $102.15/bbl
Offers (PGA page 4022) * Denotes market maker. All times GMT
Withdrawals
APR24/MAY24: DARE offers 50kb $-0.05/bbl Bids (PGA page 4017)
BAL MONTH: DARE Withdraws bid 50kb $101.85/bbl
** Denotes OCO order. APR24/MAY24: ANTIMO offers 50kb $0.10/bbl APR24: BPSG bids 50kb $104.45/bbl
Offers (PGA page 4022) APR24/MAY24: ANTIMO offers 50kb $0.15/bbl APR24: BPSG bids 50kb $104.45/bbl
APR24/MAY24: ARAMCOSG offers 50kb $0.30/bbl APR24: DVTRADING bids 50kb $104.30/bbl
APR24: BPSG offers 50kb $103.00/bbl
APR24/MAY24: UITSG offers 50kb $0.45/bbl APR24: AGT bids 50kb $104.15/bbl
APR24: BPSG offers 50kb $103.10/bbl
APR24/MAY24: BPSG offers 50kb $0.50/bbl APR24: DARE bids 50kb $104.10/bbl
APR24: DARE offers 50kb $103.20/bbl
APR24/MAY24: CONDACAP offers 50kb $0.50/bbl APR24: DVTRADING bids 50kb $104.10/bbl
APR24: DVTRADING offers 50kb $103.40/bbl
APR24: CONDACAP offers 50kb $-1.55/bbl APR24: DARE bids 50kb $104.05/bbl
Withdrawals
APR24: UITSG offers 50kb $-1.55/bbl APR24: HOTEI bids 50kb $103.80/bbl
BAL MONTH: DARE Withdraws offer 50kb $103.70/bbl
** Denotes OCO order. APR24: ARAMCOSG offers 50kb $-1.45/bbl Withdrawals
APR24: MERCURIARESOURCES offers 50kb $-1.45/bbl APR24: NATBANKABUDHABI no longer bids 50kb
Jet Kero FOB Spore Paper Spreads APR24: SKEISG offers 50kb $-1.45/bbl $104.55/bbl
APR24: DARE offers 50kb $-1.35/bbl APR24: DVTRADING Withdraws bid 50kb $104.40/bbl
Trades (PGA page 4023)
APR24: ANTIMO offers 50kb $-1.3/bbl APR24: BPSG Withdraws bid 50kb $103.50/bbl
BAL MONTH/APR24: DARE* sold to TRAFI 50kb $0.00/
Withdrawals APR24: DARE Withdraws bid 50kb $103.50/bbl
bbl 8:29:29
BAL MONTH/APR24: DARE no longer offers 50kb $0.00/bbl APR24: DARE Withdraws bid 50kb $103.40/bbl
APR24/MAY24: DARE* sold to ANTIMO 50kb $-0.05/
bbl 8:30:02 ** Denotes OCO order. BAL MONTH: DARE Withdraws bid 50kb $103.30/bbl
* Denotes market maker. All times GMT BAL MONTH: DVTRADING Withdraws bid 50kb $103.00/bbl
Bids (PGA page 4021) Gasoil FOB Spore Paper ** Denotes OCO order.
Trades (PGA page 4019) Offers (PGA page 4018)

BAL MONTH/APR24: DARE bids 50kb $-0.35/bbl
APR24/MAY24: RONGPETRO bids 50kb $-0.2/bbl APR24: DARE sold to NATBANKABUDHABI* 50kb $104.60/ APR24: DARE offers 50kb $104.55/bbl
APR24/MAY24: UITSG bids 50kb $-0.25/bbl bbl 8:29:31 APR24: DVTRADING offers 50kb $104.60/bbl
APR24/MAY24: ARAMCOSG bids 50kb $-0.3/bbl APR24: DARE sold to BPSG* 50kb $104.50/bbl 8:29:33 APR24: DARE offers 50kb $104.70/bbl
APR24/MAY24: BPSG bids 50kb $-0.3/bbl APR24: DARE* sold to NATBANKABUDHABI 50kb $104.55/ APR24: DVTRADING offers 50kb $104.80/bbl
bbl 8:29:35 APR24: HOTEI offers 50kb $104.95/bbl
APR24/MAY24: DARE bids 50kb $-0.3/bbl
APR24: DARE* sold to NATBANKABUDHABI 50kb $104.55/ APR24: BPSG offers 50kb $105.00/bbl
APR24/MAY24: CONDACAP bids 50kb $-0.31/bbl
bbl 8:29:40
APR24: ANTIMO bids 50kb $-1.65/bbl APR24: DVTRADING offers 50kb $105.00/bbl

APR24: NATBANKABUDHABI offers 50kb $105.80/bbl Withdrawals APR24/MAY24: ONYX bids 5kt $-0.25/mt
Withdrawals APR24/MAY24: CONDACAP no longer bids 50kb $0.05/bbl APR24/MAY24: VITOLSG bids 5kt $-0.5/mt
APR24: DVTRADING Withdraws offer 50kb $105.40/bbl APR24/MAY24: MERCURIARESOURCES no longer bids 50kb Withdrawals
APR24: DARE Withdraws offer 50kb $105.50/bbl $0.05/bbl BAL MONTH/APR24: ONYX no longer bids 5kt $-3.25/mt
BAL MONTH: DARE Withdraws offer 50kb $104.85/bbl BAL MONTH/APR24: ONYX no longer bids 5kt $-3.25/mt
Offers (PGA page 4018)
BAL MONTH: DVTRADING Withdraws offer 50kb $105.00/bbl BAL MONTH/APR24: ONYX no longer bids 5kt $-3.5/mt
** Denotes OCO order. BAL MONTH/APR24: NATBANKABUDHABI offers 50kb APR24/MAY24: ONYX no longer bids 5kt $1.25/mt
$-0.1/bbl
APR24/MAY24: ONYX no longer bids 5kt $0.75/mt
Gasoil FOB Spore Paper Spreads BAL MONTH/APR24: DVTRADING offers 50kb $0.00/bbl ** Denotes OCO order.
BAL MONTH/APR24: VITOLSG offers 50kb $0.00/bbl Offers (PGA page 4026)
Trades (PGA page 4019)
APR24/MAY24: ANTIMO offers 50kb $0.15/bbl
BAL MONTH/APR24: DARE* sold to PTT 50kb $-0.35/ BAL MONTH/APR24: DARE offers 5kt $-2.75/mt
APR24/MAY24: ANTIMO offers 50kb $0.20/bbl
bbl 8:29:15 APR24/MAY24: DARE offers 5kt $1.00/mt
APR24/MAY24: CONDACAP offers 50kb $0.20/bbl
BAL MONTH/APR24: DARE* sold to VITOLSG 50kb $-0.35/ APR24/MAY24: VITOLSG offers 5kt $2.00/mt
bbl 8:29:21 APR24/MAY24: SINOHKPET offers 50kb $0.22/bbl
Withdrawals
BAL MONTH/APR24: NATBANKABUDHABI* sold to PTT 50kb APR24/MAY24: DVTRADING offers 50kb $0.25/bbl
No offers reported
$-0.10/bbl 8:29:21 APR24/MAY24: MERCURIARESOURCES offers 50kb
BAL MONTH/APR24: DARE* sold to VITOLSG 50kb $-0.35/ $0.25/bbl
bbl 8:29:30 Withdrawals
FO 380 CST 3.5% FOB Spore Paper
BAL MONTH/APR24: DARE* sold to VITOLSG 50kb $-0.35/ BAL MONTH/APR24: DARE no longer offers 50kb $-0.35/bbl
bbl 8:29:33 APR24/MAY24: DARE no longer offers 50kb $0.10/bbl Trades (PGA page 4027)
BAL MONTH/APR24: NATBANKABUDHABI* sold to VITOLSG ** Denotes OCO order. APR24: MERCURIARESOURCES sold to ONYX* 5kt $20.00/
50kb $-0.20/bbl 8:29:34 mt 8:24:35
APR24/MAY24: DARE* sold to AGT 50kb $0.10/bbl 8:29:50 FO 180 CST 3.5% FOB Spore Paper APR24: MERCURIARESOURCES sold to ONYX* 5kt $19.75/
APR24/MAY24: DARE sold to MERCURIARESOURCES* 50kb mt 8:26:25
$0.05/bbl 8:29:51 Trades (PGA page 4027)
APR24: MERCURIARESOURCES sold to ONYX* 5kt $19.50/
APR24/MAY24: DARE* sold to TOTSA 50kb $0.10/bbl 8:29:57 BAL MONTH/APR24: TRAFI sold to ONYX* 5kt $-3.50/ mt 8:27:05
APR24/MAY24: DARE sold to CONDACAP* 50kb $0.05/
mt 8:26:43 * Denotes market maker. All times GMT
bbl 8:29:57 BAL MONTH/APR24: TRAFI sold to ONYX* 5kt $-3.50/ Bids (PGA page 4025)
* Denotes market maker. All times GMT mt 8:26:47
APR24: BPSG bids 5kt $18.50/mt
Bids (PGA page 4017) BAL MONTH/APR24: MERCURIARESOURCES sold to ONYX*
5kt $-3.25/mt 8:29:00 APR24: P66SG bids 5kt $18.50/mt
BAL MONTH/APR24: RONGPETRO bids 50kb $-0.4/bbl APR24: VITOLSG bids 5kt $18.50/mt
BAL MONTH/APR24: TRAFI sold to ONYX* 5kt $-3.25/
BAL MONTH/APR24: NATBANKABUDHABI bids 50kb mt 8:29:14 APR24: DARE bids 5kt $18.25/mt
$-0.45/bbl
APR24/MAY24: TRAFI sold to ONYX* 5kt $1.25/mt 8:26:00 APR24: ONYX bids 5kt $473.00/mt
BAL MONTH/APR24: DARE bids 50kb $-0.6/bbl
APR24/MAY24: TRAFI sold to ONYX* 5kt $0.75/mt 8:26:56 APR24: DARE bids 5kt $472.75/mt
BAL MONTH/APR24: DVTRADING bids 50kb $-0.7/bbl * Denotes market maker. All times GMT APR24: MERCURIARESOURCES bids 5kt $472.50/mt
APR24/MAY24: SINOHKPET bids 50kb $0.02/bbl Bids (PGA page 4025) APR24: DVTRADING bids 5kt $472.00/mt
APR24/MAY24: AGT bids 50kb $0.00/bbl
BAL MONTH/APR24: DARE bids 5kt $-7/mt APR24: DARE bids 5kt $471.75/mt
APR24/MAY24: DARE bids 50kb $0.00/bbl
APR24/MAY24: DARE bids 5kt $0.00/mt APR24: DARE bids 5kt $471.50/mt
APR24/MAY24: DVTRADING bids 50kb $0.00/bbl

APR24: GLENCORE bids 5kt $471.50/mt Withdrawals APR24: AKARITRADING offers 5kt $474.25/mt
APR24: THEMEINT bids 5kt $471.50/mt APR24: ONYX Withdraws bid 5kt $19.75/mt APR24: DARE offers 5kt $474.25/mt
APR24: UENERGY bids 5kt $471.25/mt APR24: ONYX Withdraws bid 5kt $19.00/mt APR24: THEMEINT offers 5kt $474.25/mt
APR24: VITOLSG bids 5kt $471.25/mt APR24: ONYX Withdraws bid 5kt $473.00/mt APR24: DARE offers 5kt $474.50/mt
APR24: AKARITRADING bids 5kt $471.00/mt APR24: ERACOMM Withdraws bid 5kt $471.75/mt APR24: ONYX offers 5kt $474.50/mt
APR24: DVTRADING bids 5kt $471.00/mt APR24: DARE Withdraws bid 5kt $471.00/mt APR24: VITOLSG offers 5kt $474.50/mt
APR24: UENERGY bids 5kt $470.50/mt APR24: ARIONINV Withdraws bid 5kt $470.75/mt APR24: AKARITRADING offers 5kt $474.75/mt
APR24: AKARITRADING bids 5kt $470.00/mt APR24: GOODECAPLTD Withdraws bid 5kt $470.75/mt APR24: UENERGY offers 5kt $477.75/mt
APR24: DARE bids 5kt $470.00/mt APR24: DARE Withdraws bid 5kt $469.00/mt BAL MONTH/APR24: ONYX offers 20kt $-2.5/mt
APR24: ONYX bids 5kt $470.00/mt APR24: UENERGY Withdraws bid 5kt $468.00/mt BAL MONTH/APR24: P66SG offers 5kt $-2.25/mt
APR24: UENERGY bids 5kt $469.00/mt APR24: ONYX Withdraws bid 5kt $417.75/mt BAL MONTH/APR24: P66SG offers 5kt $-2.25/mt
BAL MONTH/APR24: TRAFI bids 5kt $-2.75/mt APR24/MAY24: ONYX Withdraws bid 5kt $-1.75/mt BAL MONTH/APR24: DARE offers 5kt $-1.5/mt
BAL MONTH/APR24: TRAFI bids 5kt $-3/mt APR24/MAY24: UENERGY Withdraws bid 5kt $-2.5/mt APR24/MAY24: DARE offers 5kt $-1.25/mt
BAL MONTH/APR24: P66SG bids 5kt $-3.25/mt ** Denotes OCO order. APR24/MAY24: FREEPTASIA offers 5kt $-1.25/mt
BAL MONTH/APR24: DARE bids 5kt $-3.5/mt Offers (PGA page 4026) APR24/MAY24: ONYX offers 5kt $-1.25/mt
APR24/MAY24: ONYX bids 5kt $-1.75/mt APR24: P66SG offers 5kt $19.50/mt APR24/MAY24: P66SG offers 5kt $-1.25/mt
APR24/MAY24: DARE bids 5kt $-2/mt APR24: BPSG offers 5kt $20.00/mt APR24/MAY24: P66SG offers 5kt $-1.25/mt
APR24/MAY24: P66SG bids 5kt $-2/mt APR24: DARE offers 5kt $20.50/mt APR24/MAY24: VITOLSG offers 5kt $-1.25/mt
APR24/MAY24: P66SG bids 5kt $-2/mt APR24: VITOLSG offers 5kt $21.00/mt APR24/MAY24: HOTEI offers 5kt $-1/mt
APR24/MAY24: UENERGY bids 5kt $-2/mt APR24: DARE offers 5kt $473.50/mt Withdrawals
APR24/MAY24: VITOLSG bids 5kt $-2/mt APR24: AKARITRADING offers 5kt $474.00/mt APR24: GOODECAPLTD Withdraws offer 5kt $20.00/mt
APR24/MAY24: HOTEI bids 5kt $-2.25/mt APR24: DARE offers 5kt $474.00/mt APR24: ERACOMM Withdraws offer 5kt $474.75/mt
APR24: GLENCORE offers 5kt $474.00/mt APR24: DARE Withdraws offer 5kt $476.25/mt

Apag 20240322

Uploaded by

Copyright:

Available Formats

Apag 20240322

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Apag 20240322

Uploaded by

Copyright:

Available Formats

Now available digitally on Platts Connect

Get access to this content

Asia-Pacific/Arab Gulf Marketscan

Singapore paper (PGA page 2655)

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

Arab Gulf Front Month Swaps (PGA page 2638)

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

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

Asia products Brokers pegged the front-month FOB Singapore 92

FOB India ($/mt) FOB India ($/barrel)

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

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

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

European products ($/mt)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

China tanker fixtures

ABUNDANCE III 268 Mal Blend Malaysia Dongjiakou 2/22/2024 TBA

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

China tanker fixtures (continued)

MINERVA V 100 Bitumen Blend Malaysia Yantai 2/29/2024 Xintai

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

China tanker fixtures (continued)

VIGOR 270 Fuel Oil Malaysia Dongjiakou 2/18/2024 Yueyang Guansheng

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

International Dirty Tanker Fixtures (PGT page 2950)

Desh Viraat o/o 265 CR Apr8 J Dhanna+Basrah-Kochi w86 BPCL

Legio X Equestris 260 CR Apr20 Nigeria-East, Demurrage w70, $67.5k/d Total

Seatriumph 270 CR Apr10 USGC-Ningbo, Demurrage $8.75m, $75k/d Vitol

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

International clean tanker fixtures (PGT page 2904)

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

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

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

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

Trades (PGA page 4019) Offers (PGA page 4018)

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

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

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

You might also like