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Crude Oil Marketwire

Volume 45 / Issue 56 / March 19, 2024
Key benchmarks ($/barrel) Brent/WTI spreads and EFPs (PGA page 218) Market Commentary
Mid Change Mid Change
(PGA page 2210) Brent/WTI 1st AALAU00 4.69/4.71 4.700 -0.100
Dubai (May) PCAAT00 86.40–86.42 86.410 +0.750 Brent/WTI 2nd AALAV00 4.52/4.54 4.530 +0.060 Platts Middle East Sour Crude Daily Market
Dubai (Jun)
Dubai (Jul)
PCAAU00
PCAAV00
86.21–86.23
85.17–85.19
86.220
85.180
+0.780
+0.730
Brent/WTI 3rd AALAY00
Brent EFP (May) AAGVX00 0.06/0.08
4.420
0.070
+0.060
-0.010
Analysis
MEC (May) AAWSA00 86.40–86.42 86.410 +0.750 Brent EFP (Jun) AAGVY00 -0.01/0.01 0.000 +0.110
MEC (Jun) AAWSB00 86.21–86.23 86.220 +0.780 Brent EFP (Jul) AAMVY00 0.000 +0.110 VLCC rates on the upswing
MEC (Jul) AAWSC00 85.17–85.19 85.180 +0.730
Brent/Dubai (May) AAJMS00 0.38/0.40 0.390 +0.030
WTI EFP (Apr)
WTI EFP (May)
AAGVT00
AAGVU00
-0.01/0.01
-0.01/0.01
0.000
0.000
0.000
0.000
Shandong Yulong heard to have bought nearly 3.5
(PGA page 1212) WTI EFP (Jun) AAGVV00 -0.01/0.01 0.000 0.000 mil barrels of crude
Brent (Dated) PCAAS00 87.23–87.24 87.235 +1.000
Dated North Sea Light AAOFD00 87.23–87.24 87.235 +1.000 Chinese independent refiner margins remain under
Dated Brent (CIF) PCAKM00 88.210 +1.010 Middle East ($/barrel) pressure
Brent (May) PCAAQ00 87.41–87.43 87.420 +0.930
(PGA page 2210) Mid Change
Brent (Jun) PCAAR00 86.58–86.60 86.590 +0.930 Oman (May) PCABS00 86.40–86.42 86.410 +0.750
Brent (Jul) PCARR00 85.790 +0.840 Oman (Jun) 86.21–86.23 86.220 +0.780
Sulfur de-escalator AAUXL00 0.25 Oman (Jul)
AAHZF00
AAHZH00 85.17–85.19 85.180 +0.730
VLCC freight rates were on the upswing in the
Oseberg QP (Mar)
Oseberg QP (Apr)
AAXDW00
AAXDX00
1.4562
1.1901
Upper Zakum (May) AAOUQ00 86.39–86.43 86.410 +0.750 Asian sour crude market March 19 as April allocated
Murban (May) AAKNL00 86.84–86.88 86.860 +0.750
Ekofisk QP (Mar) AAXDY00 1.0549 Murban (Jun) MBNSA00 86.670 +0.780
dates for Middle Eastern crude cargoes were released,
Ekofisk QP (Apr) AAXDZ00 0.9100
Troll QP (Mar) ATFNB00 1.6916
Murban (Jul) MBNSB00 85.630 +0.730 potentially impeding sour crude flows from the region
Al Shaheen AAPEV00 86.75–86.79 86.770 +0.750
Troll QP (Apr) ATFNA00 1.4247 Spread vs Dubai into Asia.
(PGA page 210) Dubai DBDDC00 1.230 +0.020 (continued on page 3)
Platts AGS AGSAA00 85.620 +0.500 Oman DBDOC00 1.230 +0.020
WTI FOB USGC Decades Avg ADECA00 85.670 +0.500 Murban AARBZ00 1.680 +0.020
WTI (Apr) PCACG00 83.46–83.48 83.470 +0.750 Al Shaheen AAPEW00 1.54–1.64 1.590 +0.020 Contents
WTI (May) PCACH00 82.72–82.74 82.730 +0.570 Upper Zakum DBDUZ00 1.230 +0.020
WTI (Jun) AAGIT00 82.07–82.09 82.080 +0.470 Quality Premiums Platts Oil Mideast Sour Crude Convergences. ......................... 4
Light Houston Sweet AAXEW00 85.020 +0.500 Murban QP AASVA00 0.0000
Light Houston Sweet M2 AAYRY00 84.430 +0.570 Platts Middle East Sour Crude Bids, Offers, Trades..................... 4
LOOP Sour (Apr) AALSM01 83.620 +1.300 (PGA page 2658)
LOOP Sour (May) AALSM02 82.430 +0.670 Dubai Swap (Apr) AAHBM00 86.20–86.24 86.220 +0.780 Platts Dubai Derivatives Bids Summary. ............................... 7
LOOP Sour (Jun) AALSM03 82.130 +0.570 Dubai Swap (May) AAHBN00 85.16–85.20 85.180 +0.730
Bakken AAXPP00 79.760 +0.460 Dubai Swap (Jun) AAHBO00 84.23–84.27 84.250 +0.710 Platts Dubai Derivatives Offers Summary. ............................. 8
Eagle Ford Marker AAYAJ00 84.270 +0.860
Platts Dubai Derivatives Trades Summary.............................. 8
ACM* (Apr) AAQHN00 82.91–82.93 82.920 +1.300
ACM* (May) AAQHO00 81.72–81.74 81.730 +0.670 Platts Dubai Derivatives Exclusions. ................................... 8
ACM* (Jun) AAQHP00 81.42–81.44 81.430 +0.570
*Americas Crude Marker. Platts Asia Pacific Sweet Crude Daily Market Analysis. ................ 9
Forward Dated Brent ($/barrel) (PGA page 1250) Platts Asia Light Sweet Crude Bids, Offers, Trades. ................... 10
Mid Change Platts North Sea Crude Daily Market Analysis.......................... 11
North Sea Dated strip AAKWH00 87.12–87.13 87.125 +0.990
Mediterranean Dated strip AALDF00 87.11–87.13 87.120 +0.990 Platts North Sea Dated Brent, BFOE, CFD Bids, Offers, Trades. ........ 13
33-63 Day Dated strip AALEJ00 86.71–86.73 86.720 +0.790
BTC Dated strip AAUFI00 87.11–87.12 87.115 +0.985 Platts WTI Midland Crude DAP Europe Bids, Offers, Trades............. 17
15-45 Day Dated strip AALGM00 87.04–87.06 87.050 +0.950
30-60 Day Dated strip AAXRK00 86.77–86.79 86.780 +0.795 Platts Mediterranean & Black Sea Sweet Crude Daily Commentary. ... 17
North Sea CIF Dtd strip AAHXE00 87.120 +0.990
23-63 Day Dated Strip ADBRA00 86.815 +0.800 Platts NWE and Med Urals Sour Crude Daily Market Analysis. ........ 18
www.spglobal.com/commodityinsights
Crude Oil Marketwire March 19, 2024
Asia Pacific and Middle East crude assessments ($/barrel)

(Asia MOC) (Asia MOC) (Asia close) (London close)
API
Gravity Code Mid Change Code Mid Change Code Mid Change Code Mid Change
Condensate (PGA page 2212) (PGA page 2213)
Diff to Dubai Diff to Asian Dated Brent
NW Shelf 61.9 PCAGX00 81.60–81.64 81.620 +0.250 AAPAI00 -4.350 -0.400 AAPAH00 82.190 +0.400
Ichthys FC 48.9 ICFCA00 87.170 +0.150 ICFCB00 1.200 -0.500
DFC 56.82 ADFCA00 86.46–86.50 86.480 +0.730 ADFCB00 1.25/1.35 1.300 0.000 ADFCC00 0.510 +0.080 ADFCD00 87.050 +0.880
Qatar LSC 56.9 AARBB00 86.21–86.25 86.230 +0.730 AARBD00 1.00/1.10 1.050 0.000 AARBC00 0.260 +0.080 AARBA00 86.800 +0.880
South Pars 57.4 AARAV00 81.41–81.45 81.430 +0.730 AARAX00 -3.80/-3.70 -3.750 0.000 AARAW00 -4.540 +0.080 AARAU00 82.000 +0.880
Diff to ICP
Senipah 54.4 AAEOE00 78.60–78.64 78.620 +0.250 AAEOK00 -3.75/-3.65 -3.700 -0.200 AAPBE00 -7.350 -0.400 AAPBD00 79.190 +0.400
Light crude (PGA page 2214) (PGA page 2215)
Diff to ICP Diff to Asian Dated Brent
Cossack 47.7 PCAGZ00 87.10–87.14 87.120 +0.150 AAPAC00 1.150 -0.500 AAPAB00 87.690 +0.300
Tapis 45.2 PCACB00 90.25–90.29 90.270 +0.950 AAOZW00 4.300 +0.300 AAOZV00 90.840 +1.100
Belida 45.1 PCAFL00 81.40–81.44 81.420 +0.150 PCAFM00 -2.35/-2.25 -2.300 -0.250 AAPBQ00 -4.550 -0.500 AAPBP00 81.990 +0.300
Kutubu 44.3 PCAFJ00 83.65–83.69 83.670 +0.150 AAPAE00 -2.300 -0.500 AAPAD00 84.240 +0.300
Attaka 42.3 PCAAJ00 81.35–81.39 81.370 +0.150 PCAAK00 -2.35/-2.25 -2.300 -0.250 AAPBC00 -4.600 -0.500 AAPBB00 81.940 +0.300
Ardjuna 38 PCACQ00 86.15–86.19 86.170 +1.050 PCACR00 -0.80/-0.70 -0.750 +0.200 AAPBG00 0.200 +0.400 AAPBF00 86.740 +1.200
Banyu Urip 32 PCAFQ00 91.470 +1.050 PCAQQ00 2.750 +0.200 AAPBU00 5.500 +0.400 AAPBR00 92.040 +1.200
Diff to Dubai
Sakhalin Blend 45.5 AARBN00 78.81–78.85 78.830 +0.730 AARCN00 -6.40/-6.30 -6.350 0.000 AARDN00 -7.140 +0.080 AAREN00 79.400 +0.880
ESPO M1 34.8 AARWF00 82.56–82.60 82.580 +0.680 AASEU00 -2.65/-2.55 -2.600 -0.050
ESPO M2 34.8 AAWFE00 81.63–81.67 81.650 +0.660 AAWFG00 -2.65/-2.55 -2.600 -0.050
Sokol 39.7 AASCJ00 82.36–82.40 82.380 +0.680 AASCK00 -2.85/-2.75 -2.800 -0.050 AAPAO00 -3.590 +0.030 AAPAN00 82.950 +0.830
Kikeh 34.9 AAWUH00 94.60–94.64 94.620 +1.050 AAOZY00 8.650 +0.400 AAOZX00 95.190 +1.200
Miri Light 32.3 PCABQ00 94.15–94.19 94.170 +1.050 AAPAS00 8.200 +0.400 AAPAR00 94.740 +1.200
Labuan 32 PCABL00 96.95–96.99 96.970 +1.250 AAPAQ00 11.000 +0.600 AAPAP00 97.540 +1.400
Kimanis 38.6 AASCL00 96.820 +1.450 AASCM00 10.850 +0.800 AASCN00 97.390 +1.600
Medium crude (PGA page 2216) (PGA page 2217)
Diff to Asian Dated Brent
Su Tu Den 36.8 AARAR00 92.40–92.44 92.420 +1.050 AARAS00 6.450 +0.400 AARAQ00 92.990 +1.200
Bach Ho 40.7 PCAHY00 94.15–94.19 94.170 +1.050 AAPAK00 8.200 +0.400 AAPAJ00 94.740 +1.200
Nanhai 40 PCAFR00 82.60–82.64 82.620 +1.050 AAPAG00 -3.350 +0.400 AAPAF00 83.190 +1.200
Nile Blend 33.9 AAPLC00 84.60–84.64 84.620 +0.650 AAPAM00 -1.350 0.000 AAPAL00 85.190 +0.800
Daqing 32.2 PCAAZ00 85.55–85.59 85.570 +0.650 AAPAW00 -0.400 0.000 AAPAV00 86.140 +0.800
Heavy crude (PGA page 2218) (PGA page 2219)
Diff to ICP Diff to Asian Dated Brent
Dar Blend 25 AARAB00 83.15–83.19 83.170 +0.650 AARAC00 -2.800 0.000 AARAA00 83.740 +0.800
Shengli 24.2 PCABY00 88.40–88.44 88.420 +0.650 AAPAY00 2.450 0.000 AAPAX00 88.990 +0.800
Duri 20.8 PCABA00 91.75–91.79 91.770 +0.650 PCABB00 2.85/2.95 2.900 0.000 AAPBM00 5.800 0.000 AAPBL00 92.340 +0.800
Vincent 18.3 AARAK00 96.220 +0.650 AARAL00 10.250 0.000 AARAJ00 96.790 +0.800
Delivered - Asia spot crude assessments ($/barrel) (PGA page 2238)

Diff to Dubai Diff to Asian Dated Brent
US Delivered - Asia Spot Crudes
WTI Midland (DES Singapore) WTMSA00 90.450 +0.510 WTMSD00 6.200 -0.200 WTMSB00 5.190 -0.130
WTI Midland (DES Yeosu) WTMYA00 90.950 +0.510 WTMYD00 6.700 -0.200 WTMYB00 5.690 -0.130
Brazil Delivered-Asia Spot Crudes
Tupi (DES Qingdao) LUQDA00 88.300 +0.510 LUQDD00 4.050 -0.200 LUQDB00 3.040 -0.130
© 2024 by S&P Global Inc. All rights reserved. 2

Middle East spot assessments ($/barrel) (PGA page 2220)

Mid Change Spread vs Dubai Mid Change Spread vs OSP Mid Change
Umm Lulu AUFAA00 87.010 +0.750 DBDUL00 1.830 +0.020
Das Blend AAXOF00 86.19–86.23 86.210 +0.750 DBDDS00 1.030 +0.020
Qatar Land AAKNP00 85.83–85.87 85.850 +0.750 QALDA00 0.670 +0.020 AAKUJ00 0.00/0.10 0.050 0.000
Qatar Marine AAKNR00 85.73–85.77 85.750 +0.750 QAMDA00 0.570 +0.020 AAKUH00 0.05/0.15 0.100 0.000
Banoco Arab Medium AAKNT00 85.43–85.47 85.450 +0.750 AAKUD00 -0.95/-0.85 -0.900 0.000
Basrah Medium M1 BSMAM01 – 86.220 +0.780 BSMBM01 0.600 0.000
Basrah Medium M2 BSMAM02 – 85.100 +0.750 BSMBM02 0.400 0.000
Basrah Heavy M1 AALZC00 – 82.820 +0.780 AALZJ00 0.600 0.000
Basrah Heavy M2 AALZD00 – 81.700 +0.750 AALZK00 0.400 0.000
Rates on the Arab Gulf to Far East route jumped

Asian market parity prices ($/barrel) (PGA page 2280)
(Asia close) (London close)
by 10.6% on the day to a near one-month high of Mid Change Mid Change
$19.37/mt March 18, or around $2.60/b, S&P Global Minas PCABO00 82.540 +0.995 AAPAZ00 83.110 +1.145
Commodity Insights data showed. Cinta PCAAX00 71.815 +0.860 AAPBJ00 72.385 +1.010
Widuri PCAFE00 69.355 +0.870 AAPBN00 69.925 +1.020
The rise was seen broad-based across most other Cambay AMPPA00 87.985 +0.825
regions, with lumpsum VLCC rates on the US Gulf Coast Ravva AMPPB00 92.520 +0.915
Rajasthan AMPPC00 87.645 +0.720
to Far East route up 6.1% on the day at $9.55 million.
Shipping sources noted tightening tonnage in the
Middle East with allocation dates for Saudi and Iraqi Asian Crude Indices ($/barrel) (PGA page 2206)
April crude cargoes recently released, though it was 16:30 Singapore Interim Asian Close Diff to Dated Brent Final London Close
Asian Dated Brent (ADB) AAXPG00 86.545
unclear if the climb in rates would continue. ADB Strip Asia AARBV00 85.970 AARBX00 86.540
More details were heard on Shandong Yulong ADB Strip Middle East AARBW00 85.970 AARBY00 86.540
ADB Strip M3 ADBS003 85.260
Petrochemical’s recent purchases as it readies for
For definitions see http://www.platts.com/IM.Platts.Content/MethodologyReferences/MethodologySpecs/Crude-oil-methodology.pdf
startup at its 400,000 b/d Longkou refinery. Trade
sources said the company might have bought as much
as 3.5 million barrels of crude oil, with Far East Russia’s Bureau of Statistics data released March 18 showed, “The overall demand for oil products will improve
ESPO blend crude also among the grades bought in following healthy demand for transportation fuels over slightly in March, especially for gasoil, but the margin is
addition to Oman, though price levels were unclear. the Lunar New Year holiday. not strong enough to push up utilization significantly,”
Three different sellers, all of whom were based in China’s crude oil runs are anticipated to rise in said an analyst in Shandong.
China, were heard to have supplied the crudes. March, as total oil demand has rebounded with
Demand for Middle Eastern crudes from some economic activities picking up post-Lunar New Year Platts Mideast Sour Crude Daily Rationales &
Asian outlets were seen absent in March. Trade holiday, despite planned turnarounds affecting a Exclusions
sources said Taiwan’s CPC Corp. will likely be absent for combined capacity of 230,000 b/d starting in the Dubai Mo01 <PCAAT00> assessment rationale:
a second straight month in March from the spot sour second half of the month, analysts said. The May cash Dubai assessment March 19 took into
market, with the refiner so far having only issued its Among the country’s independent refiners in the consideration bids and offers for cash Dubai partials
sweet crude buy tender — closing March 19 — but not eastern Shandong province, feedstock throughput that traded at $86.40-$86.41/b toward the end of
that for sour. recovery is likely to be capped in March amid limited the Platts Market on Close assessment process, as
China’s crude throughput rose 1.3% on the year to refinery margin improvement, refinery sources and well as a bid standing at $86.40/b at the end of the
14.51 million b/d over January-February, the National analysts said. MOC.

Oman Blend Mo01 <PCABS00> assessment North Sea spot crude assessments ($/barrel) (PGA page 1212)
Mid Change Spread vs fwd Dated Brent Mid Change
rationale: The May cash Oman assessment March 19
Dated Brent Diff AAXEZ00 0.10/0.12 0.110 +0.010
took into consideration the declaration of two Oman BNB AAVJA00 88.14–88.16 88.150 +0.975 AAVJB00 1.02/1.03 1.025 -0.015
Forties 87.96–87.97 87.965 +0.995 0.83/0.85 0.840 +0.005
cargoes on convergence of Dubai partials. PCADJ00 AAGWZ00
Oseberg PCAEU00 90.27–90.28 90.275 +0.990 AAGXF00 3.14/3.16 3.150 0.000
Exclusions: No market data was excluded from the Ekofisk PCADI00 89.71–89.72 89.715 +1.000 AAGXB00 2.58/2.60 2.590 +0.010
Troll 90.44–90.46 90.450 +0.985 3.32/3.33 3.325 -0.005
Middle East sour crude MOC. AAWEX00 AAWEY00
FOB N Sea WTI Midland ALNDA00 87.235 +1.000 ALNDB00 0.110 +0.010
Platts is part of S&P Global Commodity Insights. Statfjord PCAEE00 89.57–89.58 89.575 +0.940 AAGXD00 2.44/2.46 2.450 -0.050
Flotta Gold PCACZ00 88.02–88.03 88.025 +0.990 AAGXH00 0.89/0.91 0.900 0.000
Duc AAWEZ00 89.57–89.58 89.575 +0.990 AAWFL00 2.44/2.46 2.450 0.000
Platts Oil Mideast Sour Crude Grane Blend PCALA00 85.325 +0.690 PCALB00 -1.800 -0.300
Convergences Johan Sverdrup
Statfjord (CIF)
AJSVA00
AASAS00 90.66–90.68
84.880 +0.680
90.670 +0.940
AJSVB00
AASAT00 3.54/3.56
-2.245
3.550
-0.310
-0.050
Gullfaks (CIF) AASAU00 90.95–90.97 90.960 +0.940 AASAV00 3.83/3.85 3.840 -0.050
Alvheim (CIF) ALVHA00 91.020 +0.940 ALVHB00 3.900 -0.050
**Platts Crude: ExxonMobil declares a cargo of May
Asgard (CIF) ASGCA00 89.470 +0.990 ASGCB00 2.350 0.000
Oman crude to Mercuria following the convergence of North Sea basket AAGIZ00 89.02–89.03 89.025 +0.990
North Sea Dated Strip 87.12–87.13 87.125 +0.990
20 partials in Platts cash Dubai. AAKWH00
European Sour Crude Index CSBEA00 85.171 +0.699 CSBEB00 -1.954 -0.291
***Platts Crude: Unipec declares a cargo of May Spread vs fwd CIF Dated Brent
Oman crude to PetroChina following the convergence Dated Brent (CIF) AAVJG00 88.210 +1.010 AAVJF00 1.090 +0.020
BNB (CIF) PCAKP00 90.230 +0.975 AAVJC00 3.110 -0.015
of 20 partials in Platts cash Dubai. Forties (CIF) PCAKR00 89.450 +1.000 AAHXC00 2.330 +0.010
Oseberg (CIF) PCAKT00 91.545 +0.990 AAHXD00 4.425 0.000
Platts Middle East Sour Crude Bids, Offers, Ekofisk (CIF)

Troll (CIF)
PCAKV00
AAXJO00
90.860 +1.000
91.740 +0.975
AAHXB00
AAXJN00
3.740
4.620
+0.010
-0.015
Trades WTI Midland (CIF) WMCRD00 88.210 +1.010 WMCRB00 1.090 +0.020
Johan Sverdrup (CIF) AJSWA00 85.910 +0.425 AJSWB00 -1.210 -0.565
North Sea CIF Dated Strip AAHXE00 87.120 +0.990
Bids:
PLATTS DUBAI: MAY24: MITSUI BIDS 25KB AT
$86.40 AND WITHDRAWS DURING EXTENSION Grades demonstrating Dated Brent (relates to North Sea rationale: PGA page 1297)
PLATTS DUBAI: MAY24: MERCURIA BIDS 25KB
Date FOB Dated Brent Grade Date FOB Dated Brent Grade
AT $86.35
PLATTS DUBAI: MAY24: SHELL BIDS 25KB AT $86.35 29/03/2024 -0.1203 WTI Midland 11/04/2024 0.2222 WTI Midland
PLATTS DUBAI: MAY24: PHILLIPS 66 BIDS 25KB AT 30/03/2024 -0.1103 WTI Midland 12/04/2024 0.27095 WTI Midland
31/03/2024 -0.1003 WTI Midland 13/04/2024 0.3197 WTI Midland
$86.35 AND WITHDRAWS DURING EXTENSION 01/04/2024 -0.0903 WTI Midland 14/04/2024 0.3197 WTI Midland
PLATTS DUBAI: MAY24: BP BIDS 25KB AT $86.15 02/04/2024 -0.0803 WTI Midland 15/04/2024 0.3197 WTI Midland
PLATTS DUBAI: MAY24: PETROCHINA NO LONGER 04/04/2024 -0.0703 WTI Midland 17/04/2024 0.3197 WTI Midland
BIDS AFTER TRADE 05/04/2024 -0.0703 WTI Midland 18/04/2024 0.3197 WTI Midland
PLATTS DUBAI: MAY24: TRAFIGURA NO LONGER 07/04/2024 0.0272 WTI Midland
BIDS AFTER TRADE 08/04/2024 0.076 WTI Midland
09/04/2024 0.1247 WTI Midland
PLATTS DUBAI: MAY24: PETROCHINA NO LONGER 10/04/2024 0.1735 WTI Midland
BIDS 25KB AT $86.20 AFTER WITHDRAWAL (08:15:05)

Offers: Freight Adjustment Factors

($/barrel) Change
PLATTS DUBAI: MAY24: EXXONMOBIL OFFERS 25KB
Sullom Voe-Rotterdam FSVRM00 1.5327 +0.0195
AT $86.44 AND TRADES DURING EXTENSION Hound Point-Rotterdam FHPRM00 1.1050 +0.0138
Sture-Rotterdam FSTRM00 0.9506 +0.0116
PLATTS DUBAI: MAY24: GUNVOR OFFERS 25KB
Teesside-Rotterdam FTSRM00 0.8520 +0.0103
AT $86.50 Mongstad-Rotterdam FMGRM00 0.9679 +0.0119
North Sea-Rotterdam FSFRM00 0.9803 +0.0120
PLATTS DUBAI: MAY24: PETROCHINA OFFERS 25KB
AT $86.60 (%)
FAF Weighting FAFWA00 0.80
PLATTS DUBAI: MAY24: PHILLIPS 66 OFFERS 25KB
AT $86.60
PLATTS DUBAI: MAY24: BP OFFERS 25KB AT $86.85
European US Spot Crude Assessments ($/barrel) (PGA page 1238)
PLATTS DUBAI: MAY24: VITOL NO LONGER OFFERS WTI Midland (DAP Rotterdam) AWTIC00 88.435 +0.820 AWTID00 1.620 +0.020
AFTER TRADE WTI Midland (DAP Augusta) AWTIA00 89.085 +0.820 AWTIB00 2.270 +0.020
Eagle Ford 45 (DAP Rotterdam) AEFAC00 87.535 +0.820 AEFAD00 0.720 +0.020
PLATTS DUBAI: MAY24: UNIPEC NO LONGER Eagle Ford 45 (DAP Augusta) AEFAA00 88.185 +0.820 AEFAB00 1.370 +0.020
OFFERS AFTER TRADE
PLATTS DUBAI: MAY24: EQUINOR NO LONGER Dated Brent/BFOE swaps ($/barrel) (PGA page 1214)
OFFERS AFTER TRADE
Week Week Date Brent CFD* Mid Change Dated Brent swap Mid Change
PLATTS DUBAI: MAY24: RELIANCE NO LONGER CFD Week 1 (Jun) Mar 18-22 PCAKA00 0.58/0.60 0.590 +0.090 AAJNV00 87.17/87.19 87.180 +1.020
OFFERS AFTER TRADE CFD Week 2 (Jun) Mar 25-29 PCAKC00 0.58/0.60 0.590 +0.090 AAJOS00 87.17/87.19 87.180 +1.020
PLATTS DUBAI: MAY24: TOTAL NO LONGER OFFERS CFD Week 3 (Jun) Apr 01-05 PCAKE00 0.52/0.54 0.530 +0.070 AAJOU00 87.11/87.13 87.120 +1.000
CFD Week 4 (Jun) Apr 08-12 PCAKG00 0.52/0.54 0.530 +0.070 AAJOW00 87.11/87.13 87.120 +1.000
AFTER TRADE CFD Week 5 (Jun) Apr 15-19 AAGLU00 0.52/0.54 0.530 +0.030 AAJPC00 87.11/87.13 87.120 +0.960
PLATTS DUBAI: MAY24: IDEMITSU NO LONGER CFD Week 6 (Jun) Apr 22-26 AAGLV00 0.43/0.45 0.440 +0.010 AAJPE00 87.02/87.04 87.030 +0.940
OFFERS AFTER TRADE CFD Week 7 (Jun) Apr 29-03 AALCZ00 0.27/0.29 0.280 -0.040 AALAW00 86.86/86.88 86.870 +0.890
CFD Week 8 (Jun) May 06-10 AALDA00 0.09/0.11 0.100 -0.090 AALAX00 86.68/86.70 86.690 +0.840
Trades:
Brent Swaps Weeks 1 to 8 are differentials to Brent Mo02 (Jun) PCAAR00 found on page 1.
PLATTS DUBAI: MAY24: TOTAL SELLS TO
PETROCHINA* 25KB AT $86.40 (08:27:35)
Dated Brent/Brent Frontline Swaps (DFL) ($/barrel) (PPE page 1614)
PLATTS DUBAI: MAY24: MERCURIA BUYS FROM
Swaps Change DFL Change
EXXONMOBIL* 25KB AT $86.45 (08:28:03) Balance month* (Mar 24) BDLBM00 87.310 +1.020 ABWFZ00 0.000 NA
PLATTS DUBAI: MAY24: MERCURIA BUYS FROM Month 1 (Apr 24) BDLM001 87.140 +0.830 AAEAA00 0.590 +0.020
EXXONMOBIL* 25KB AT $86.44 (08:28:32) Month 2 (May 24) BDLM002 86.540 +0.800 AAEAB00 0.780 +0.070
Month 3 (Jun 24) BDLM003 85.760 +0.710 AAEAC00 0.780 +0.060
PLATTS DUBAI: MAY24: MERCURIA BUYS FROM Month 4 (Jul 24) BDLM004 84.980 +0.660 AAEAD00 0.740 +0.040
EXXONMOBIL* 25KB AT $86.44 (08:28:39) *Balance month swaps are assessed from the 1st through the 20th of the month.
PLATTS DUBAI: MAY24: PETROCHINA BUYS FROM
VITOL* 25KB AT $86.44 (08:28:46) Cash BFOE intraday assessments ($/barrel) (PGA page 1216)
PLATTS DUBAI: MAY24: MERCURIA BUYS FROM Cash BFOE Change Inter-Month Spread
EXXONMOBIL* 25KB AT $86.44 (08:28:49) 10:30 London Time

BFOE M1 (May) PBCAAM1 86.590 +0.600
PLATTS DUBAI: MAY24: UNIPEC SELLS TO MITSUI* BFOE M2 (Jun) PBCAAM2 85.950 +0.510 May/Jun PBAM1M2 0.640
25KB AT $86.41 (08:29:02) BFOE M3 (Jul) PBCAAM3 85.220 +0.450 Jun/Jul PBAM2M3 0.730
PLATTS DUBAI: MAY24: TOTAL SELLS TO 12:30 London Time
BFOE M1 (May) PBCABM1 87.060 +1.370
PETROCHINA* 25KB AT $86.41 (08:29:03) BFOE M2 (Jun) PBCABM2 86.410 +1.230 May/Jun PBBM1M2 0.650
BFOE M3 (Jul) PBCABM3 85.630 +1.090 Jun/Jul PBBM2M3 0.780

PLATTS DUBAI: MAY24: TOTAL SELLS TO Cash BFOE intraday assessments ($/barrel) (PGA page 1216) (continued)
Cash BFOE Change Inter-Month Spread
TRAFIGURA* 25KB AT $86.40 (08:29:04)
14:30 London Time
PLATTS DUBAI: MAY24: TRAFIGURA BUYS FROM BFOE M1 (May) PBCACM1 87.490 +1.700
UNIPEC* 25KB AT $86.41 (08:29:08) BFOE M2 (Jun) PBCACM2 86.770 +1.500 May/Jun PBCM1M2 0.720
PLATTS DUBAI: MAY24: MERCURIA BUYS FROM BFOE M3 (Jul) PBCACM3 85.980 +1.350 Jun/Jul PBCM2M3 0.790
EXXONMOBIL* 25KB AT $86.42 (08:29:10) 16:30 London Time

BFOE M1 (May) PCAAQ00 87.420 +0.930
PLATTS DUBAI: MAY24: PETROCHINA BUYS FROM BFOE M2 (Jun) PCAAR00 86.590 +0.930
UNIPEC* 25KB AT $86.41 (08:29:11) BFOE M3 (Jul) PCARR00 85.790 +0.840
PLATTS DUBAI: MAY24: UNIPEC SELLS TO MITSUI* 19:30 London Time
BFOE M1 (May) PBCADM1 NA –
25KB AT $86.41 (08:29:14)
BFOE M2 (Jun) PBCADM2 NA – May/Jun PBDM1M2 NA
PLATTS DUBAI: MAY24: PETROCHINA BUYS FROM BFOE M3 (Jul) PBCADM3 NA – Jun/Jul PBDM2M3 NA
VITOL* 25KB AT $86.43 (08:29:14)
PLATTS DUBAI: MAY24: PETROCHINA BUYS FROM Urals/ESPO spot assessments ($/barrel) (PGA page 1220)
UNIPEC* 25KB AT $86.41 (08:29:17) Mid Change Spread vs fwd Dated Brent Mid Change
PLATTS DUBAI: MAY24: MERCURIA BUYS FROM Urals (Rotterdam) PCAFW00 73.56–73.60 73.580 +0.990 AAGXJ00 -13.55/-13.53 -13.540 0.000
Urals (Mediterranean) PCACE00 74.74–74.78 74.760 +0.965 AAGXX00 -12.37/-12.35 -12.360 -0.025
EXXONMOBIL* 25KB AT $86.42 (08:29:20) Urals FOB Novo Suez AAGZS00 70.10–70.14 70.120 +0.990 AAHPH00 -17.01/-16.99 -17.000 0.000
Urals FOB Novo Afra AAOTH00 69.70–69.74 69.720 +0.990 AAOTI00 -17.41/-17.39 -17.400 0.000
PLATTS DUBAI: MAY24: PETROCHINA BUYS FROM Urals (Ex-Baltic) AAGZT00 70.10–70.14 70.120 +0.990 AAHPI00 -17.01/-16.99 -17.000 0.000
UNIPEC* 25KB AT $86.41 (08:29:22) Urals (Primorsk) AAWVH00 70.10–70.14 70.120 +0.990 AAWVI00 -17.01/-16.99 -17.000 0.000
Urals RCMB (Recombined) AALIN00 74.86–74.89 74.875 +0.975
PLATTS DUBAI: MAY24: TRAFIGURA BUYS FROM ESPO (FOB Kozmino) AARWD00 83.08–83.10 83.090 +0.750 AARWE00 -3.46/-3.44 -3.450 -0.050
KEBCO (CIF Augusta) KBCOA00 86.920 +1.090 KBCOB00 -0.200 +0.100
EQUINOR* 25KB AT $86.41 (08:29:23) KEBCO (CIF Rotterdam) KBCOC00 86.920 +1.090 KBCOD00 -0.200 +0.100
PLATTS DUBAI: MAY24: VITOL SELLS TO MITSUI* KEBCO (FOB Novo) KBCOE00 81.880 +1.115 KBCOF00 -5.240 +0.125
KEBCO (FOB Ust-Luga) KBCOG00 83.335 +1.090 KBCOH00 -3.785 +0.100
25KB AT $86.40 (08:29:38) Urals (DAP India) DWCUA00 83.540 +0.830 DWCUB00 -3.600 0.000
PLATTS DUBAI: MAY24: PETROCHINA BUYS FROM KEBCO/Russian Urals AKEBA00 12.160 +0.125
Spread vs Dubai
UNIPEC* 25KB AT $86.41 (08:29:39) Urals (DAP India) vs M1 AURLA00 -3.150 +0.030
PLATTS DUBAI: MAY24: PETROCHINA BUYS FROM Urals (DAP India) vs M2 AURLB00 -2.150 +0.030
EQUINOR* 25KB AT $86.41 (08:29:40) Number of days
Observed Delivery Factor AODFA00 -3
VITOL* 25KB AT $86.40 (08:29:41)
PLATTS DUBAI: MAY24: MERCURIA BUYS FROM Urals Med/NWE CFD assessments ($/barrel)

Urals CFD Mid Change
EXXONMOBIL* 25KB AT $86.43 (08:29:42)**
Mediterranean (PPE page 1617)
Urals Med CFD (Apr) AAMDU00 -12.37/-12.35 -12.360 -0.025
RELIANCE* 25KB AT $86.41 (08:29:43) Urals Med CFD (May) AAMEA00 -12.37/-12.35 -12.360 -0.025
PLATTS DUBAI: MAY24: TRAFIGURA BUYS FROM Urals Med CFD (Jun) UMCM003 -12.37/-12.35 -12.360 -0.025
UNIPEC* 25KB AT $86.41 (08:29:45) Northwest Europe (PPE page 1617)

Urals NWE CFD (Apr) UNCM001 -13.55/-13.53 -13.540 0.000
PLATTS DUBAI: MAY24: PETROCHINA BUYS FROM Urals NWE CFD (May) UNCM002 -13.55/-13.53 -13.540 0.000
TOTAL* 25KB AT $86.44 (08:29:45) Urals NWE CFD (Jun) UNCM003 -13.55/-13.53 -13.540 0.000
PLATTS DUBAI: MAY24: VITOL SELLS TO MITSUI* Mediterranean (PPE page 1617)
CPC Blend CFD (Apr) AAOFX00 -2.900 -0.350
25KB AT $86.40 (08:29:45) CPC Blend CFD (May) AAOFY00 -2.750 -0.250
PLATTS DUBAI: MAY24: PETROCHINA BUYS FROM CPC Blend CFD (Jun) AAOFZ00 -2.750 -0.250
RELIANCE* 25KB AT $86.41 (08:29:47)

PLATTS DUBAI: MAY24: PETROCHINA BUYS FROM Mediterranean spot crude assessments ($/barrel)
UNIPEC* 25KB AT $86.41 (08:29:47)
Azeri and BTC (PGA page 1222)
PLATTS DUBAI: MAY24: MITSUI BUYS FROM VITOL* Azeri Lt CIF AAGZX00 89.55–89.58 89.565 +0.995 AAHPM00 2.44/2.46 2.450 +0.010
25KB AT $86.40 (08:29:52) Azeri Lt FOB Ceyhan Suez AAUFM00 88.41–88.43 88.420 +0.995 AAUFN00 1.30/1.31 1.305 +0.010
Azeri Lt FOB Ceyhan Afra AAUFK00 87.62–87.65 87.635 +0.940 AAUFL00 0.51/0.53 0.520 -0.045
PLATTS DUBAI: MAY24: PETROCHINA BUYS FROM Azeri Lt FOB Supsa AATHM00 86.31–86.34 86.325 +1.075 AATHN00 -0.80/-0.78 -0.790 +0.090
UNIPEC* 25KB AT $86.41 (08:29:53)*** BTC FOB Ceyhan AAUFH00 88.01–88.04 88.025 +0.965 AAUFJ00 0.90/0.92 0.910 -0.020
PLATTS DUBAI: MAY24: PETROCHINA BUYS FROM Black Sea (PGA page 1220)
Siberian Light CIF AAGZW00 76.74–76.78 76.760 +0.965 AAHPK00 -10.37/-10.35 -10.360 -0.025
EXXONMOBIL* 25KB AT $86.43 (08:29:54) CPC Blend CIF AAGZU00 83.85–83.88 83.865 +1.135 AAHPL00 -3.26/-3.24 -3.250 +0.150
PLATTS DUBAI: MAY24: PETROCHINA BUYS FROM CPC Blend FOB Suez AALVX00 80.55–80.57 80.560 +1.140 AALVZ00 -6.56/-6.55 -6.555 +0.155
CPC Blend FOB Afra AAOFV00 79.20–79.22 79.210 +1.155 AAOFW00 -7.91/-7.90 -7.905 +0.170
IDEMITSU* 25KB AT $86.45 (08:29:54) Additional War Risk Premium AWARA00 1.550 +0.050
PLATTS DUBAI: MAY24: PETROCHINA BUYS FROM Middle East & North Africa (PGA page 1234)
VITOL* 25KB AT $86.40 (08:29:56) Suez Blend PCACA00 86.75–86.79 86.770 +1.090 AAGYD00 -0.36/-0.34 -0.350 +0.100
Es Sider PCACO00 87.25–87.28 87.265 +0.835 AAGYH00 0.14/0.16 0.150 -0.150
PLATTS DUBAI: MAY24: PETROCHINA BUYS FROM Kirkuk AAEJD00 85.80–85.84 85.820 +1.090 AAGYF00 -1.31/-1.29 -1.300 +0.100
UNIPEC* 25KB AT $86.41 (08:29:58) Iranian Light FOB Kharg Island (Med) AILKA00 84.830 +0.970 AILKB00 -2.290 -0.020
Iranian Heavy FOB Kharg Island (Med) AIHKA00 82.830 +0.970 AIHKB00 -4.290 -0.020
PLATTS DUBAI: MAY24: TRAFIGURA BUYS FROM Saharan Blend AAGZY00 88.00–88.03 88.015 +0.885 AAHPN00 0.89/0.91 0.900 -0.100
EXXONMOBIL* 25KB AT $86.44 (08:30:01)
This assessment commentary applies to the
following market data codes: Dubai M1 <PCAAT00>,
Oman M1 <PCABS00>
West African spot crude assessments ($/barrel) (PGA page 1230)
WAF Index AWAFA00 90.218 +0.595 AWAFB00 3.438 -0.200
Platts Dubai Derivatives Bids Summary Nigeria Spot Crude Assessments
Agbami AAQZB00 85.71–85.75 85.730 +0.595 AAQZC00 -1.06/-1.04 -1.050 -0.200
Akpo PCNGA00 85.91–85.95 85.930 +0.595 PCNGB00 -0.86/-0.84 -0.850 -0.200
BIDS ON CLOSE Bonga PCNGC00 91.11–91.15 91.130 +0.595 PCNGD00 4.34/4.36 4.350 -0.200
—————————— Bonny Light PCAIC00 89.11–89.15 89.130 +0.595 AAGXL00 2.34/2.36 2.350 -0.200
Brass River AAEJB00 87.61–87.65 87.630 +0.595 AAGXV00 0.84/0.86 0.850 -0.200
NO BIDS REPORTED Egina AFONA00 93.880 +0.595 AFONB00 7.100 -0.200
WITHDRAWALS Erha AAXUO00 91.130 +0.595 AAXUP00 4.350 -0.200
Escravos AAEIZ00 90.96–91.00 90.980 +0.595 AAGXR00 4.19/4.21 4.200 -0.200
—————————— Forcados PCABC00 90.86–90.90 90.880 +0.595 AAGXP00 4.09/4.11 4.100 -0.200
NO WITHDRAWALS REPORTED Qua Iboe PCAID00 89.71–89.75 89.730 +0.595 AAGXN00 2.94/2.96 2.950 -0.200
Usan AAXUQ00 84.130 +0.595 AAXUR00 -2.650 -0.200
Platts’ End-of-Day assessments for Dubai
Angola spot crude assessments ($/barrel) (PGA page 1232)
derivatives prices can be found on PPA2606. Cabinda PCAFD00 87.66–87.70 87.680 +0.745 AAGXT00 0.89/0.91 0.900 -0.050
Platts Oil Paper Bids, Offers and Trade Page Index Dalia AAQYX00 85.81–85.85 85.830 +0.745 AAQYY00 -0.96/-0.94 -0.950 -0.050
Girassol AASNL00 88.71–88.75 88.730 +0.745 AASJD00 1.94/1.96 1.950 -0.050
found on <PGA4000> Hungo AASLJ00 85.31–85.35 85.330 +0.745 AASJF00 -1.46/-1.44 -1.450 -0.050
Platts has defined standards for entities it Kissanje AASLK00 85.96–86.00 85.980 +0.745 AASJE00 -0.81/-0.79 -0.800 -0.050
Nemba AAQYZ00 86.16–86.20 86.180 +0.745 AAQZA00 -0.61/-0.59 -0.600 -0.050
considers to be related and verifies through a variety of Pazflor PCNGG00 85.81–85.85 85.830 +0.745 PCNGH00 -0.96/-0.94 -0.950 -0.050
inputs whether counterparties in reported trades meet Plutonio PCNGI00 85.51–85.55 85.530 +0.745 PCNGJ00 -1.26/-1.24 -1.250 -0.050
these criteria. Ghana spot crude assessments (PGA page 1230)

Jubilee AAXUS00 87.630 +0.745 AAXUT00 0.850 -0.050
Republic of Congo spot crude assessments
Djeno PCNGE00 84.66–84.70 84.680 +0.745 PCNGF00 -2.11/-2.09 -2.100 -0.050
Chad spot crude assessments
Doba AAXUU00 82.580 +0.745 AAXUV00 -4.200 -0.050

Platts Dubai Derivatives Offers Summary West Africa market parity prices ($/barrel) (PGA page 1270)
Abo Blend AAXTL00 89.040 +0.515 ABOOM00 2.260 -0.280
OFFERS ON CLOSE Aje APIRP00 88.515 +0.630 APIRA00 1.735 -0.165
Amenam Blend AAXTI00 87.635 +0.630 AMENA00 0.855 -0.165
——————————
Antan Blend APIRQ00 90.065 +0.630 APIRB00 3.285 -0.165
NO OFFERS REPORTED Asaramatoru AAXTV00 88.725 +0.630 ASARA00 1.945 -0.165
CJ Blend APIRR00 90.765 +0.475 APIRC00 3.985 -0.320
WITHDRAWALS
EA Blend AAXTJ00 90.425 +0.500 AEABL00 3.645 -0.295
—————————— Ebok APIRS00 84.730 +0.825 APIRD00 -2.050 +0.030
Eremor APIRT00 86.540 +0.990 APIRE00 -0.240 +0.195
NO WITHDRAWALS REPORTED
Ima APIRU00 87.980 +0.975 APIRF00 1.200 +0.180
Platts’ End-of-Day assessments for Dubai Jones Creek Blend APIRV00 87.585 +0.795 APIRG00 0.805 0.000
Okono Blend APIRW00 89.575 +0.570 APIRH00 2.795 -0.225
derivatives prices can be found on PPA2606.
Okoro APIRX00 89.130 +0.535 APIRI00 2.350 -0.260
Platts Oil Paper Bids, Offers and Trade Page Index Okwori APIRY00 91.050 +0.485 APIRJ00 4.270 -0.310
Otakikpo APIRZ00 87.660 +0.665 APIRK00 0.880 -0.130
found on <PGA4000>
Oyo APRIA00 88.860 +0.580 APIRL00 2.080 -0.215
Platts has defined standards for entities it Pennington APRIB00 88.130 +0.515 APIRM00 1.350 -0.280
Rabi Light ARABA00 85.880 +0.810 ARABB00 -0.900 +0.015
considers to be related and verifies through a variety of
Sankofa APRIC00 85.815 +0.730 APIRN00 -0.965 -0.065
inputs whether counterparties in reported trades meet TEN AAXTW00 87.075 +0.655 ATENM00 0.295 -0.140
Ukpokiti APRID00 89.235 +0.585 APIRO00 2.455 -0.210
these criteria.
Yoho Light AAXTK00 89.905 +0.605 AYOHO00 3.125 -0.190
Zafiro AAXTU00 90.145 +0.620 AZAFB00 3.365 -0.175
Platts Dubai Derivatives Trades Summary
US West Coast Crude Assessments ($/barrel) (PGA page 214)
TRADES SUMMARY
Mid Change
—————————— Spread to NYMEX WTI CMA Mid Change
NO TRADES REPORTED ANS/Long Beach PCAAD00 86.81–86.85 86.830 +0.380 AAGWX00 4.96/4.98 4.970 -0.080
Platts’ End-of-Day assessments for Dubai Spread to ICE BRENT CMA
ANS/Long Beach AANSA00 1.047 -0.006
derivatives prices can be found on PPA2606.
Platts Oil Paper Bids, Offers and Trade Page Index
found on <PGA4000> US spot crude assessments ($/barrel) (PGA pages 210 & 214)
Platts has defined standards for entities it Mid Change
considers to be related and verifies through a variety of Mars (Apr) AAMBR00 83.71–83.73 83.720 +1.300
Mars (May) AAMBU00 82.52–82.54 82.530 +0.670
inputs whether counterparties in reported trades meet Mars (Jun) AAMBX00 82.22–82.24 82.230 +0.570
these criteria. Mars/WTI (Apr) AAGWH00 0.24/0.26 0.250 +0.550
Mars/WTI (May) AAKTH00 -0.21/-0.19 -0.200 +0.100
Mars/WTI (Jun) 0.14/0.16 0.150 +0.100
Platts Dubai Derivatives Exclusions
AAMBO00
LOOP/WTI (Apr) AALOM01 0.150 +0.550
LOOP/WTI (May) AALOM02 -0.300 +0.100
LOOP/WTI (Jun) AALOM03 0.050 +0.100
Exclusions: No market data was excluded from the LOOP/Mars (Apr) AALPM01 -0.100 0.000
March 19, 2024 Dubai derivatives assessment process. LOOP/Mars (May) AALPM02 -0.100 0.000
LOOP/Mars (Jun) AALPM03 -0.100 0.000
WTI-Delta AAEJK00 0.91/0.93 0.920 +0.210
P-Plus WTI PCACI00 4.29/4.31 4.300 +0.210
P-5 WTI* AAFEN00 80.030 +0.760
*P-5 WTI is a crude oil postings-based index. Posted prices by the following companies are used in the index: ConocoPhillips, Plains, Energy Transfer, Shell, and
Valero. The index will not be calculated until all postings are submitted each day. If a posting is submitted the following day the P-5 WTI Average will update in the
database.

Platts Asia Pacific Sweet Crude Daily US spot crude assessments (continued)
Market Analysis
WTI (Midland) PCACJ00 84.76–84.78
Mid Change
84.770 +0.550 AAGVZ00
Spread vs 1st line WTI
1.29/1.31
Mid Change
1.300 -0.200
WTS (1st month) PCACK00 83.96–83.98 83.970 +0.750 AAGWB00 0.49/0.51 0.500 0.000
Petronas sets April Malaysian crude OSP at Dated
WTI MEH AAYRG00 85.020 +0.500 AAYRH00 1.550 -0.250
Brent plus $10.90/b Bonito PCAIE00 83.96–83.98 83.970 +1.300 AAGWF00 0.49/0.51 0.500 +0.550
SGC AASOI00 83.56–83.58 83.570 +0.750 AASOJ00 0.09/0.11 0.100 0.000
Trades emerge for Australia’s Ichthys Field Poseidon AABHK00 82.91–82.93 82.920 +1.300 AAGWL00 -0.56/-0.54 -0.550 +0.550
Condensate LLS (1st month) PCABN00 86.26–86.28 86.270 +0.800 AAGWN00 2.79/2.81 2.800 +0.050
HLS (1st month) PCABD00 85.71–85.73 85.720 +0.750 AAGWP00 2.24/2.26 2.250 0.000
Taiwan’s CPC issues tender for June-delivery Wyoming Sweet PCACM00 80.26–80.28 80.270 +0.450 AAGWR00 -3.21/-3.19 -3.200 -0.300
sweet crude Thunder Horse AAWZK00 85.86–85.88 85.870 +1.300 AAWZL00 2.39/2.41 2.400 +0.550
Spread vs 2nd line WTI
WTI MEH (2nd month) AAXXE00 84.430 +0.570 AAYYA00 1.700 0.000
The Asia-Pacific regional market saw the issuance WTI Midland (2nd month) AAYZA00 83.980 +0.520 AAXXF00 1.250 -0.050
of Malaysia’s official crude selling price differentials as WTS (2nd month) AAURG00 82.87–82.89 82.880 +0.620 AAURH00 0.14/0.16 0.150 +0.050
LLS (2nd month) AAURC00 85.12–85.14 85.130 +0.620 AAURD00 2.39/2.41 2.400 +0.050
the order of the day March 19. HLS (2nd month) AAURE00 84.57–84.59 84.580 +0.570 AAURF00 1.84/1.86 1.850 0.000
State-owned oil company Petronas set the April Spread vs NYMEX WTI CMA
Malaysian crude oil official selling price differential WCS ex-Cushing AAWTY00 75.85–75.87 75.860 +0.960 AAWTZ00 -6.01/-5.99 -6.000 +0.500
WCS ex-Nederland AAYAY00 76.760 +0.860 AAYAX00 -5.100 +0.400
at a premium of $10.90/b to Platts Dated Brent crude Bakken Williston AAXPP00 79.760 +0.460 AASRX00 -2.100 0.000
assessments, up $1.60/b from March, the company Bakken Guernsey AASRR00 80.25–80.27 80.260 +0.460 AASRV00 -1.61/-1.59 -1.600 0.000
Bakken Clearbrook AASRU00 79.95–79.97 79.960 +0.460 AASRW00 -1.91/-1.89 -1.900 0.000
said in a March 19 notice. Bakken USGC Pipe ABAKA00 84.060 +0.610 ABAKB00 2.200 +0.150
Petronas also adjusted the price differential of FOB USGC FOB USGC Spread vs NYMEX WTI Strip
its secondary crude grades against its main basket Platts AGS AGSAA00 85.620 +0.500 AGSAC00 3.140 -0.010
Bakken ABAKC00 85.620 +0.500 ABAKD00 3.140 -0.010
of crudes. Eagle Ford Crude AAYAT00 84.620 +0.500 AAYAU00 2.140 -0.010
The Tapis differential to the Malaysian crude Eagle Ford Condensate AAYAR00 83.120 +0.500 AAYAS00 0.640 -0.010
WTI AAYBA00 85.620 +0.500 AAYAZ00 3.140 -0.010
oil OSP was set at a discount of $5.28/b for April-
WTI FOB USGC vs WTI MEH (by decade)
loading cargoes, compared with a discount of $5.14/b WTI FOB USGC First Decade ADECB00 85.720 +0.500 ADECD00 0.700 0.000
for March. WTI FOB USGC Second Decade ADECE00 85.670 +0.500 ADECG00 0.650 0.000
WTI FOB USGC Third Decade ADECH00 85.620 +0.500 ADECJ00 0.600 0.000
Bintulu was set at a discount of $4.24/b to the WTI FOB USGC Decades Average ADECA00 85.670 +0.500
Malaysian crude oil OSP for April, compared with a FOB USGC Spread vs Dated Brent Strip WTI FOB USGC vs Dated Brent Basis (by decade)
discount of $2.38/b for March. Platts AGS AGSAB00 -1.440 +0.030 ADECC00 -1.480 +0.070
Bakken ABAKE00 -1.440 +0.030 ADECF00 -1.530 +0.070
Dulang and Cendor grades were set at premiums of Eagle Ford Crude AEFCA00 -2.440 +0.030 ADECI00 -1.580 +0.070
59 cents/b and $1.65/b, respectively, to the Malaysian Eagle Ford Condensate AEFCB00 -3.940 +0.030
WTI AWTUA00 -1.440 +0.030
crude oil OSP for April-loading cargoes, compared with
Global Benchmarks at US Close WTI FOB USGC vs ICE Brent Basis (by decade)
premiums of $1.23/b and $1.61/b, respectively, to the Americas Dated Brent AAQBF00 87.240–87.260 87.250 +0.520 ADECK00 -0.890 +0.090
Malaysian crude oil OSP for March. ADECL00 -0.940 +0.090
ADECM00 -0.990 +0.090
Meanwhile, trades emerged for Australia’s Ichthys
Field Condensate. Japan’s Inpex sold two cargoes to
ExxonMobil and PTT for loading over April 29-May 3
and May 10-14, respectively, at a discount of $3s/b
to Platts Dated Brent crude assessments, market
participants said.

“In the product market, naphtha is getting stronger US domestic crude assessments London close ($/barrel) (PGA page 1240)
Spread to
and gasoil is getting weaker, but the opposite is
Mid Change NYMEX light sweet crude Mid Change
happening here,” an Asia-based crude trader said. WTI (Apr) AAQAR00 83.42–83.44 83.430 +1.240 AAQAS00 -0.01/0.01 0.000 0.000
WTI (May) AAQAT00 82.71–82.73 82.720 +1.030 AAQAU00 -0.01/0.01 0.000 0.000
However, another trader said that the lower cash WTI (Jun) AAQAV00 82.05–82.07 82.060 +0.870 AAQAW00 -0.01/0.01 0.000 0.000
differentials for Ichthys may be a softening of market Spread to
values due to worsening petrochemical margins. same-month cash WTI Mid Change
WTI MEH (Apr) AAYRZ00 84.980 +0.990 AAYTA00 1.550 -0.250
The last heard trade for Ichthys involved France’s WTI MEH (May) AAXYD00 84.420 +1.030 AAYWA00 1.700 0.000
LLS (Apr) 86.17–86.19 86.180 +1.240 2.74/2.76 2.750 0.000
TotalEnergies, which sold a cargo for loading over AAQBB00 AAQBC00
LLS (May) AAQBD00 85.06–85.08 85.070 +1.030 AAQBE00 2.34/2.36 2.350 0.000
April 18-22 at a premium of $1s/b to Dated Brent, FOB, MARS (Apr) AAQAX00 83.72–83.74 83.730 +1.840 AAQAY00 0.29/0.31 0.300 +0.600
MARS (May) 82.61–82.63 82.620 +1.280 -0.11/-0.09 -0.100 +0.250
market sources previously said. AAQAZ00 AAQBA00
Meanwhile, Taiwan’s CPC issued a tender seeking

June-arrival sweet crude, according to the company
website March 18. The tender closes March 19, with
validity until March 21.
Americas close ($/barrel) (PGA page 210)
CPC in February purchased two VLCCs of WTI
Mid Change
Midland crude from Vitol and Unipec for delivery in Americas Dated Brent AAQBF00 87.24–87.26 87.250 +0.520
March at a premium in the low and mid- $4s/b to Americas Dated Brent reflects market value for Dated Brent at 2:30pm Eastern Time.
Platts Dated Brent assessments, CFR Taiwan, market
sources said.
Platts is part of S&P Global Commodity Insights.
US crude assessments Singapore close ($/barrel) (PGA page 2208)
Platts Asia Light Sweet Crude Daily Rationale & Mid Change
Exclusions LOOP Sour (Apr) AAZDA00 82.190 +0.860
LOOP Sour (May) AAZDB00 81.630 +0.930
ESPO FOB Kozmino Mo01 Spore vs Dubai Mo01 LLS (Apr) AAZDC00 85.340 +0.860
<AASEU00> assessment rationale: The ESPO M1 May LLS (May) AAZDD00 84.380 +0.780
Southern Green Canyon AAZDE00 82.690 +0.860
assessment March 19 took into consideration the WTI MEH (Apr) AAZDF00 84.390 +0.860
latest trade indications heard in the broader market. WTI MEH (May) AAZDG00 83.730 +0.730
Platts is part of S&P Global Commodity Insights.
Exclusions: No market data was excluded from the
Asia Pacific crude Platts Market on Close assessment
process. CFR North Asia Assessments Singapore Close ($/barrel) (PGA page 2202)
Mid Change
Platts Asia Light Sweet Crude Bids, Offers, Dubai CFR North Asia PCAQA00 89.090 +0.740
Trades Oman CFR North Asia
Upper Zakum CFR North Asia
PCAQJ00
PCAQB00
89.070
89.030
+0.730
+0.730
Qatar Marine CFR North Asia PCAQC00 88.390 +0.740
Bids: NIL Murban CFR North Asia PCAQE00 89.380 +0.730
Basrah Medium CFR North Asia BASNA00 87.800 +0.730
Offers: NIL ESPO CFR North Asia PCAQD00 84.810 +0.680
Trades: NIL Forties CFR North Asia PCAQF00 91.490 +0.825
Dalia CFR North Asia PCAQG00 89.535 +0.900
WTI MEH CFR North Asia PCAQH00 90.450 +1.050
LOOP Sour CFR North Asia PCAQI00 87.120 +1.150

This assessment commentary applies to the Canadian spot crude cargo assessments ($/barrel) (PGA page 230)
following market data code: ESPO M1 vs Dubai M2
Hebron AHEBA00 83.220 +0.490 AHEBC00 -3.500 -0.300
<AASEU00> Terra Nova AAJUH00 83.30–83.34 83.320 +0.490 AAJUJ00 -3.41/-3.39 -3.400 -0.300
Hibernia AAJKK00 86.55–86.59 86.570 +0.490 AAJKM00 -0.16/-0.14 -0.150 -0.300
White Rose AAVJX00 87.40–87.44 87.420 +0.490 AAVJY00 0.69/0.71 0.700 -0.300
Platts North Sea Crude Daily Market The published spreads for Canadian cargo assessments reflect the market value at which these grades are trading versus Dated Brent around loading time. The
Analysis spreads and fixed price assessments reflect a typical forward loading window of 33-63 days forward. For further explanation see www.platts.com.
Sentiment for April cargoes steadies Canadian spot crude assessments ($/barrel) (PGA page 230)
Mid Change Spread vs Canada basis Mid Change
Balance-of-month DFL contract rallies
Lloyd Blend AALRK00 70.25–70.27 70.260 +1.060 AALRP00 -11.61/-11.59 -11.600 +0.600
Mixed Sweet AALRR00 78.80–78.82 78.810 +0.460 AALRV00 -3.06/-3.04 -3.050 0.000
Light Sour Blend AALRX00 78.65–78.67 78.660 +0.460 AALSD00 -3.21/-3.19 -3.200 0.000
Lengthy supply weighed on North Sea physical Midale AAUCC00 74.40–74.42 74.410 +0.460 AAUCE00 -7.46/-7.44 -7.450 0.000
crude values March 19, with traders eyeing mixed Condensates AALSF00 79.00–79.02 79.010 +0.460 AALSJ00 -2.86/-2.84 -2.850 0.000
Syncrude Sweet Prem. AASOK00 84.45–84.47 84.460 +0.460 AASOM00 2.59/2.61 2.600 0.000
fundamentals across April-loading cargoes. WCS Hardisty AAPPN00 69.55–69.57 69.560 +1.060 AAPPP00 -12.31/-12.29 -12.300 +0.600
Market participants again noted lingering supplies Cold Lake Hardisty AASZX00 69.40–69.42 69.410 +1.060 AASZZ00 -12.46/-12.44 -12.450 +0.600
WTI CMA (1st mo) AAVSN00 81.860 +0.460
at the prompt end of the market with some WTI
Midland availability pinning differentials at the front Latin American assessments ($/barrel) (PGA page 280)
of the curve. “There are a couple prompt Midlands Diff to Diff to Futures Diff to Dated
Mid Change WTI strip Brent strip Brent strip
[available],” one trader said. Escalante PCAGC00 85.69–85.73 85.710 +0.360 PCAGO00 3.470 AAXBS00 -0.400 AAXAX00 -1.100
Timid European demand kept activity broadly Medanito AMTOA00 83.310 +0.360 AMTOC00 1.070 AMTOB00 -2.800 AMTOD00 -3.500
Loreto PCAGH00 76.92–76.96 76.940 +0.380 PCAGQ00 -5.300 AAXBV00 -9.170 AAXBG00 -9.870
subdued across April cargoes though paper markets Oriente PCADE00 77.82–77.86 77.840 +0.380 PCAGU00 -4.400 AAXBW00 -8.270 AAXBH00 -8.970
signaled some expectations of strengthening ahead. Napo AAMCA00 73.12–73.16 73.140 -0.070 AAMCD00 -9.100 AAXBX00 -12.970 AAXBI00 -13.670
Tupi ATUPA00 85.310 +0.510 ATUPC00 3.070 ATUPB00 -0.800 ATUPD00 -1.500
“[CFD] curve looks like it has some decent roll up Castilla Blend AAVEQ00 78.54–78.58 78.560 +0.860 AAVEQ01 -3.680 AAXBZ00 -7.550 AAXBK00 -8.250
opportunity now though, so this week should be the Vasconia PCAGI00 81.49–81.53 81.510 +0.610 PCAGR00 -0.730 AAXCB00 -4.600 AAXBN00 -5.300
Liza ALIZA00 86.460 +0.415 ALIZD00 4.220 ALIZC00 0.350 ALIZB00 -0.350
end of the weakness,” a second trader said. Unity Gold AUNIA00 86.660 +0.415 AUNIC00 4.420 AUNIB00 0.550 AUNID00 -0.150
The balance-of-month March DFL contract also Payara Gold AYARA00 86.460 +0.415 AYARD00 4.220 AYARC00 0.350 AYARB00 -0.350
Latin America WTI strip AAXBP00 82.240
rebound early in the week reflecting steadying physical Latin America Futures Brent strip AAXBQ00 86.110
sentiment. Platts assessed the contract 9 cents/b Latin America Dated Brent strip AAXBR00 86.810
higher day on day, consolidating a rise from the start of

Latin America market parity prices ($/barrel) (PGA page 270)
the week after the March contract fell more than $2/b
Mid Change
in the first half of the month. Maya AAYMP00 77.996 +0.497
Meanwhile, prompt weakness remained a leading Merey 16 AMERA00 76.948 +0.455
feature of the sour market with Johan Sverdrup
Platts euro-denominated assessments (€/barrel) (PGA page 1252)
differentials trading at steep discounts across Mid Change
prompter pricing dates.
European crude oil benchmarks
One CIF Rotterdam offer for April 3-7 arrival was left Dated Brent AAPYR00 80.310–80.320 80.319 +0.993
outstanding in the MOC at an FOB equivalent value of Dated Brent (CIF) PCAKN00 81.217 +1.004
Urals (Mediterranean) AAPYS00 68.820–68.850 68.833 +0.951
$2.47/b below Dated Brent, the session after an FOB
US crude oil benchmarks
cargo traded $1.80/b below the benchmark for April WTI (Apr) AAPYT00 76.810–76.830 76.816 +1.211
WTI MEH (Apr) AAYSA00 78.243 +0.982
11-13 loading.
Mars (Apr) AAPYU00 77.080–77.100 77.092 +1.763
Platts is part of S&P Global Commodity Insights Euro/US$ forex rate: 1.0861. Platts Euro denominated crude oil assessments are based on market values and a Euro/US$ forex rate at 4:30 PM local London time.

Platts North Sea Dated Brent, BFOE, CFD Ruble-denominated Russian assessments (Rb/barrel) (PGA page 1224)
Mid Change
Assessment Rationales & Exclusions
Russian crude oil benchmarks
Dated Brent <PCAAS00> assessment rationale: Urals FOB Novorossiysk AAUJP00 6482.500–6486.200 6484.347 +143.743
Of the six crudes in the Dated Brent basket, WTI Urals FOB Baltic AAUJQ00 6482.500–6486.200 6484.347 +143.743
Urals FOB Novorossiysk 80kt AAUJR00 6445.510–6449.210 6447.357 +143.441
Midland was seen in the Platts Market on Close Urals CIF Mediterranean AAUJS00 6911.580–6915.280 6913.431 +144.954
assessment process. Brent Blend and Forties were Urals CIF Rotterdam AAUJT00 6802.460–6806.160 6804.311 +146.356
assessed unchanged March 29 to April 18 with flat US$/Ruble forex rate: 92.4750. Platts Ruble denominated crude oil assessments are based on market values and a US$/Ruble forex rate at 4:30 PM local London
time.
structures rolled over back-end dates reflecting steady
market fundamentals in the absence of indications Platts CAD-denominated Canada spot crude assessments (C$/cu m) (PGA page 232)
testing the March 18 assessments. Ekofisk was Mid Change
assessed unchanged March 29 to April 18 with flat Lloyd Blend AALRM00 599.451–599.622 599.537 +10.404
Mixed Sweet AALRT00 672.410–672.580 672.495 +5.464
structures rolled over back-end dates reflecting steady Light Sour Blend AALRZ00 671.130–671.300 671.215 +5.461
market fundamentals in the absence of indications Midale AAUCD00 634.864–635.035 634.949 +5.377
Condensates AALSH00 674.116–674.287 674.202 +5.468
testing the March 18 assessments. Oseberg and Troll Syncrude Sweet AASOL00 720.622–720.792 720.707 +5.575
were assessed in 1 cent/day contango structures WCS Hardisty AAPPO00 593.478–593.649 593.564 +10.391
Cold Lake Hardisty AASZY00 592.198–592.369 592.284 +10.388
reflecting steady market fundamentals in the absence
of indications testing the March 15 assessments.
FOB WTI Midland was assessed higher reflecting a Daily US$ vs EURO exchange rate (PGA page 1151)
higher CIF Rotterdam assessment and a higher freight Mid Change
March 19, 2024 AAFCW00 1.0861 -0.001
adjustment factor. CIF WTI Midland was assessed
unchanged March 29 to April 18 with flat structures
rolled over back end dates reflecting steady market Asia close Brent and WTI spot assessments ($/barrel) (PGA page 2210)
fundamentals in the absence of indications testing Mid Change
Brent (May) PCAJG00 86.78–86.82 86.800 +0.780
the March 18 assessments. WTI Midland was the most Brent (Jun) PCAJI00 85.89–85.93 85.910 +0.480
competitive grade in the Dated Brent assessment Brent (Jul) PCAJ000 85.150 +0.410
WTI (Apr) AAFFU00 82.57–82.61 82.590 +0.860
March 29 to April 19. WTI (May) AAFFW00 82.01–82.05 82.030 +0.780
BFOE (PCAAQ00-PCAAR00,PCARR00> assessment WTI (Jun) AAFFY00 81.43–81.47 81.450 +0.680
rationale:
May Cash BFOE was assessed using a traded bid
in the MOC. June Cash BFOE was assessed using a Oman OSPs and derivatives ($/barrel) (PGA pages 2658 & 2210)
traded May/June spread bid in the MOC. July Cash Mid Change
Oman/Dubai Swap (Apr) AAIHJ00 -0.02/0.02 0.000 0.000
BFOE was assessed using a June/July EFP roll heard Oman/Dubai Swap (May) AAIHL00 -0.02/0.02 0.000 0.000
during the day. Oman/Dubai Swap (Jun) AAIHN00 -0.02/0.02 0.000 0.000
Oman Swap (Apr) AAHZP00 86.20–86.24 86.220 +0.780
CFD (PCAKA00-AALDA00) assessment rationale: Oman Swap (May) AAHZR00 85.16–85.20 85.180 +0.730
March 25-29 was assessed using an outstanding Oman Swap (Jun) AAHZT00 84.23–84.27 84.250 +0.710
bid. April 1-5 was assessed using a traded bid. April
8-12 was assessed using a traded bid. April 15-19 was
assessed using a traded bid. April 22-26 was assessed Daily OPEC Basket Price ($/barrel) (PGA page 207)
using an April 22-26 versus April 15-19 CFD roll heard Mid Change
during the day. April 29 to May 3 was assessed using March 18, 2024 AAEUQ00 85.710 +0.970

an April 29 to May 3 versus April 22-26 CFD roll heard Futures Settlements
Settlement Change Low High Volume* Open interest PNT****
during the day.
NYMEX Light Sweet crude ($/barrel) (PGA page 705)
Johan Sverdrup FOB North Sea (AJSVA00, Apr 24 NMCL001 83.47 +0.75 82.39 83.85 42449 43597
AJSVB00) assessment rationale: May 24 NMCL002 82.73 +0.57 81.81 83.12 310414 346436
Johan Sverdrup was assessed in a flat structure Jun 24 NMCL003 82.08 +0.47 81.24 82.38 145052 215769
Jul 24 NMCL004 81.38 +0.42 80.65 81.64 60637 147355
March 29 to April 4 using an outstanding FOB Total NMCL000 771271 XNCLP00 25802
equivalent offer. April 4-19 was assessed in a 5 cents/ ICE Brent ($/barrel) (PGA page 704)
day contango structure. May 24 ICLL001 87.38 +0.49 86.48 87.70 404636 378902
Exclusions: None Jun 24 ICLL002 86.62 +0.43 85.80 86.92 378105 488722
Jul 24 ICLL003 85.83 +0.41 85.07 86.10 164206 267358
Platts is part of S&P Global Commodity Insights Aug 24 ICLL004 85.06 +0.38 84.37 85.30 85835 157357
Total ICLL000 1307774 XILLP00 39301
Platts North Sea Dated Brent, BFOE, CFD ICE WTI ($/barrel) (PGA page 704)
Bids, Offers, Trades Apr 24

May 24
ICIC001
ICIC002
83.47
82.73
+0.75
+0.57
82.47
81.80
83.80
83.11
6730
81116
17146
101205
Jun 24 ICIC003 82.08 +0.47 81.25 82.39 104264 94067
Bids: Jul 24 ICIC004 81.38 +0.42 80.69 81.66 78710 45139
Total ICIC000 378399 XIICP00 6776
NORTH SEA:
ICE BWAVE ($/barrel) (PGA page 704)
None
BWAVE data refer to previous day.
CASH BFOE: May 24 XIBW001 86.18
PLATTS CASH BFOE: JUN24: OMV BIDS 100KB Jun 24 XIBW002 85.55
AT $86.51 DME Oman crude ($/barrel)** (PGA pages 702 & 2710)
May 24 XDOA001 86.44 +0.75 4644
BRENT CFDS:
May 24 DMOQ001 87.10 +0.44 86.35 87.10 4646 14719
PLATTS BRENT DIFF: MAR25-MAR29 (MAY): DV Jun 24 DMOQ002 86.34 +0.38 85.22 86.34 849 13
TRADING BIDS 100KB AT $-0.25 Jul 24 DMOQ003 85.61 +0.35 85.61 85.61 849 8
Aug 24 DMOQ004 85.01 +0.35 85.01 85.01 0 0
PLATTS BRENT DIFF: MAR25-MAR29 (MAY):
Total Volume DMOQ000 5471 XDOQP00 0
PETRACO BIDS 100KB AT $-0.29 IFAD Murban crude ($/barrel) (PGA page 703)
PLATTS BRENT DIFF: MAR25-MAR29 (MAY): DARE May 24 AMIFA00 86.790
BIDS 100KB AT $-0.40 Murban vs Dubai*** AMIFB00 1.610
NYMEX ULSD ($/gal) (PGA page 705)
PLATTS BRENT DIFF: APR1-APR5 (JUN): DARE BIDS
Apr 24 NMHO001 2.7607 -0.0275 2.7499 2.7812 16979 47643
100KB AT $0.51 May 24 NMHO002 2.7386 -0.0231 2.7279 2.7540 43876 82310
PLATTS BRENT DIFF: APR1-APR5 (JUN): PETRACO Jun 24 NMHO003 2.7147 -0.0173 2.7045 2.7244 27044 50185
BIDS 100KB AT $0.51 Jul 24 NMHO004 2.6985 -0.0148 2.6890 2.7052 9691 22270
Total NMHO000 120632 XNHOP00 5738
PLATTS BRENT DIFF: APR1-APR5 (JUN): DV TRADING NYMEX RBOB unleaded gasoline ($/gal) (PGA page 705)
BIDS 100KB AT $0.50 Apr 24 NMRB001 2.7622 +0.0049 2.7325 2.7682 18756 58862
PLATTS BRENT DIFF: APR1-APR5 (JUN): ONYX BIDS May 24 NMRB002 2.7489 +0.0035 2.7225 2.7549 55528 100166
Jun 24 NMRB003 2.7116 +0.0042 2.6883 2.7173 28530 63598
100KB AT $0.50
Jul 24 NMRB004 2.6640 +0.0070 2.6404 2.6692 13297 38861
PLATTS BRENT DIFF: APR1-APR5 (JUN): Total Volume NMRB000 137534 XNRBP00 6492
PETROCHINA BIDS 100KB AT $0.50 NYMEX Natural Gas ($/MMBtu) (PGA page 705)
PLATTS BRENT DIFF: APR1-APR5 (JUN): SINOCHEM Apr 24 NMNG001 1.744 +0.041 1.701 1.769 108270 106300
May 24 NMNG002 1.876 +0.043 1.832 1.890 104981 412194
BIDS 100KB AT $0.50 Jun 24 NMNG003 2.109 +0.020 2.081 2.129 29352 92312
PLATTS BRENT DIFF: APR1-APR5 (JUN): CHEVRON Jul 24 NMNG004 2.423 +0.003 2.403 2.453 28047 145756
BIDS 100KB AT $0.50 Total Volume NMNG000 364780 XNNGP00 7863

PLATTS BRENT DIFF: APR8-APR12 (JUN): ONYX BIDS Futures Settlements (continued)
Settlement Change Low High Volume* Open interest PNT****
100KB AT $0.50
ICE low sulfur gasoil ($/mt) (PGA page 704)
PLATTS BRENT DIFF: APR8-APR12 (JUN): OMV BIDS Apr 24 ICLO001 851.75 -4.75 849.75 859.25 86241 150225
100KB AT $0.50 May 24 ICLO002 838.75 -2.00 837.00 844.25 88987 162933
Jun 24 827.00 +0.00 825.00 830.75 67381 97195
PLATTS BRENT DIFF: APR8-APR12 (JUN): DV ICLO003
Jul 24 ICLO004 819.25 +0.25 817.25 822.75 19040 50625
TRADING BIDS 100KB AT $0.50 Total Volume ICLO000 326706 XILOP00 10771
PLATTS BRENT DIFF: APR8-APR12 (JUN): ICE Midland WTI American Gulf Coast ($/barrel) (PGA page 704)
PETROCHINA BIDS 100KB AT $0.50 Apr 24 IHOU001 84.95 +0.66 84.95 85.00 1294 5560
May 24 IHOU002 84.40 +0.52 83.55 84.71 5636 7736
PLATTS BRENT DIFF: APR8-APR12 (JUN): DARE BIDS
Jun 24 IHOU003 83.76 +0.44 83.01 84.01 3539 6413
100KB AT $0.50 Jul 24 IHOU004 83.05 +0.41 83.05 83.05 2318 3852
PLATTS BRENT DIFF: APR8-APR12 (JUN): PETRACO *Volume, open interest and PNT reflect prior trading day. PNT reflect volume for Privately Negotiated Trades or off-exchange. **Oman settlements are Post Close
BIDS 100KB AT $0.50 settlements. ***IFAD Murban spread to 1st Line (May 24) Platts Dubai crude futures. ****Privately Negotiated Trade values found on PGA page 710
PLATTS BRENT DIFF: APR8-APR12 (JUN): SINOCHEM

BIDS 100KB AT $0.50
PLATTS BRENT DIFF: APR8-APR12 (JUN): PHILLIPS
66 BIDS 100KB AT $0.45 Futures at Platts’ Market on Close ($/barrel) (PGA page 703)
PLATTS BRENT DIFF: APR15-APR19 (JUN): PETRACO Singapore* London* Houston* Singapore* London* Houston*
ICE Brent NYMEX WTI
BIDS 100KB AT $0.51
May XILLA01 86.72 AAYES00 87.35 AAQBG00 87.36 M1 XNCLA01 82.59 AASCR00 83.43 NYCRM01 83.43
PLATTS BRENT DIFF: APR15-APR19 (JUN): DARE Jun XILLA02 86.02 AAYET00 86.59 AAQBH00 86.61 M2 XNCLA02 82.03 AASCS00 82.72 NYCRM02 82.70
BIDS 100KB AT $0.45 Jul AAXZY00 85.79 AAXZZ00 85.81 M3 NYCRM03 82.05
PLATTS BRENT DIFF: APR15-APR19 (JUN): DV Aug AAYAM00 85.02 AAYAL00 85.04 M4 NYCRM04 81.37
Oman *Singapore and London MOC close at precisely 16:30 local time while Houston
TRADING BIDS 100KB AT $0.45 MOC closes at precisely 13:30 local time. MOC times are usually earlier on the
May XDOA001 86.44
Volume XDOAV01 4644 day preceding major local holidays.
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Reported spot cash transactions (PGA page 3)

Trans. Date
Cargo / Cargo Load CFD Roll Crude Grade(s) Reported Outright / Basis Barrels Seller Buyer
Spread Dates Range / Week Status Diff. Price
CFD Week ($/barrel)
Platts Americas
03/19/2024 April Mars Heard 0.30 Cash WTI
03/19/2024 April WTI Midland Heard 1.30 Cash WTI
Platts Asia
3/19/2024 May Dubai Partial Done 86.41 25,000 Unipec Mitsui
3/19/2024 May Dubai Partial Done 86.44 25,000 ExxonMobil Mercuria
3/19/2024 May Dubai Partial Done 86.41 25,000 Equinor PetroChina
3/19/2024 May Dubai Partial Done 86.43 25,000 Vitol PetroChina
3/19/2024 May Dubai Partial Done 86.41 25,000 Reliance PetroChina
3/19/2024 May Dubai Partial Done 86.41 25,000 Unipec Trafigura
3/19/2024 May Dubai Partial Done 86.40 25,000 Vitol Mitsui
3/19/2024 May Dubai Partial Done 86.41 25,000 Unipec PetroChina
3/19/2024 May Dubai Partial Done 86.44 25,000 TotalEnergies PetroChina
3/19/2024 May Dubai Partial Done 86.41 25,000 Equinor Trafigura
3/19/2024 May Dubai Partial Done 86.45 25,000 Idemitsu PetroChina
3/19/2024 May Dubai Partial Done 86.41 25,000 Unipec Mitsui
3/19/2024 May Dubai Partial Done 86.40 25,000 TotalEnergies Trafigura
3/19/2024 May Dubai Partial Done 86.43 25,000 ExxonMobil PetroChina
3/19/2024 May Dubai Partial Done 86.44 25,000 ExxonMobil Trafigura
3/19/2024 May Dubai Partial Done 86.41 25,000 Reliance PetroChina
3/19/2024 May Dubai Partial Done 86.41 25,000 Unipec Trafigura
3/19/2024 May Oman Done 25,000 Unipec PetroChina
3/19/2024 May Oman Done 25,000 ExxonMobil Mercuria
Platts EMEA
03/19/2024 March 25 29 Brent CFD Done 0.48 Cash BFOE Jun 100000 Glencore Equinor
03/19/2024 April 15 19 Brent CFD Done 0.54 Cash BFOE Jun 100000 Onyx Shell
03/19/2024 April 15 19 Brent CFD Done 0.53 Cash BFOE Jun 100000 Dare Global Suncor
03/19/2024 April 15 19 Brent CFD Done 0.55 Cash BFOE Jun 100000 Dare Global Shell
03/19/2024 March 25 29 Brent CFD Done 0.45 Cash BFOE Jun 100000 Mercuria Equinor

Reported spot cash transactions (PGA page 3)

Trans. Date
Cargo / Cargo Load CFD Roll Crude Grade(s) Reported Outright / Basis Barrels Seller Buyer
Spread Dates Range / Week Status Diff. Price
CFD Week ($/barrel)
03/19/2024 May Cash BFOE Done 87.33 100000 PetroIneos Gunvor

03/19/2024 May Cash BFOE Done 87.37 100000 PetroIneos Shell
03/19/2024 May/June Cash BFOE Spread Done 0.83 100000 Chevron Mercuria
03/19/2024 April 3 7 Johan Sverdrup Done -1.45 Dated Brent 700000 Equinor Shell
Please note that all deals that are stated as “Done” were reported and published through the Platts Market on Close assessment process. Deals that are stated as “Reported” were not reported through the MOC, and may reflect
transactions that were reported before or after the MOC process. Platts seeks to confirm non-MOC information to the fullest extent possible prior to publication.
PLATTS BRENT DIFF: APR15-APR19 (JUN): ONYX NORTH SEA: OFFERS 100KB AT $0.59
BIDS 100KB AT $0.45 CIF BASIS ROTTERDAM: PLATTS NSEA JOHAN PLATTS BRENT DIFF: APR1-APR5 (JUN): PETRACO
PLATTS BRENT DIFF: APR15-APR19 (JUN): SVERDRUP: APRIL 3-7: EQUINOR OFFERS 700000.0B OFFERS 100KB AT $0.64
PETROCHINA BIDS 100KB AT $0.45 AT DTD $-1.50 . . PLATTS BRENT DIFF: APR1-APR5 (JUN): TRAFIGURA
PLATTS BRENT DIFF: APR15-APR19 (JUN): PHILLIPS CIF BASIS ROTTERDAM: PLATTS NSEA STATFJORD: OFFERS 100KB AT $0.65
66 BIDS 100KB AT $0.45 APRIL 19-21: EQUINOR OFFERS 800000.0B AT DTD PLATTS BRENT DIFF: APR1-APR5 (JUN): GLENCORE
PLATTS BRENT DIFF: APR15-APR19 (JUN): $3.60 . . OFFERS 100KB AT $0.65
SINOCHEM BIDS 100KB AT $0.45 CIF BASIS ROTTERDAM: PLATTS NSEA WTI PLATTS BRENT DIFF: APR1-APR5 (JUN): ONYX
PLATTS BRENT DIFF: APR22-APR26 (JUN): OMV MIDLAND: APRIL 11-15: MERCURIA OFFERS 700000.0B OFFERS 100KB AT $0.75
BIDS 100KB AT $0.40 AT DTD $1.50 . . PLATTS BRENT DIFF: APR8-APR12 (JUN): DARE
PLATTS BRENT DIFF: APR22-APR26 (JUN): SOCAR CIF BASIS ROTTERDAM: PLATTS NSEA WTI OFFERS 100KB AT $0.58
BIDS 100KB AT $0.40 MIDLAND: MARCH 31-APRIL 4: GUNVOR OFFERS PLATTS BRENT DIFF: APR8-APR12 (JUN): DV
PLATTS BRENT DIFF: APR22-APR26 (JUN): SUNCOR 700000.0B AT DTD $1.50 . . TRADING OFFERS 100KB AT $0.59
BIDS 100KB AT $0.37 CASH BFOE: PLATTS BRENT DIFF: APR8-APR12 (JUN): ONYX
PLATTS BRENT DIFF: APR22-APR26 (JUN): DV None OFFERS 100KB AT $0.60
TRADING BIDS 100KB AT $0.35 BRENT CFDS: PLATTS BRENT DIFF: APR8-APR12 (JUN):
PLATTS BRENT DIFF: APR22-APR26 (JUN): PETRACO PLATTS BRENT DIFF: MAR25-MAR29 (MAY): DARE GLENCORE OFFERS 100KB AT $0.65
BIDS 100KB AT $0.35 OFFERS 100KB AT $-0.15 PLATTS BRENT DIFF: APR15-APR19 (JUN): DV
PLATTS BRENT DIFF: APR22-APR26 (JUN): ONYX PLATTS BRENT DIFF: MAR25-MAR29 (MAY): TRADING OFFERS 100KB AT $0.57
BIDS 100KB AT $0.35 GLENCORE OFFERS 100KB AT $-0.15 PLATTS BRENT DIFF: APR15-APR19 (JUN): DARE
PLATTS BRENT DIFF: APR22-APR26 (JUN): PLATTS BRENT DIFF: MAR25-MAR29 (MAY): ONYX OFFERS 100KB AT $0.58
SINOCHEM BIDS 100KB AT $0.35 OFFERS 100KB AT $-0.10 PLATTS BRENT DIFF: APR15-APR19 (JUN):
PLATTS BRENT DIFF: APR22-APR26 (JUN): DARE PLATTS BRENT DIFF: MAR25-MAR29 (MAY): DV GLENCORE OFFERS 100KB AT $0.65
BIDS 100KB AT $0.35 TRADING OFFERS 100KB AT $0.00 PLATTS BRENT DIFF: APR15-APR19 (JUN): ONYX
PLATTS BRENT DIFF: MAR25-MAR29 (JUN): PLATTS BRENT DIFF: APR1-APR5 (JUN): DARE OFFERS 100KB AT $0.70
EQUINOR BIDS 100KB AT $0.43 OFFERS 100KB AT $0.58 PLATTS BRENT DIFF: APR22-APR26 (JUN): DARE
PLATTS BRENT DIFF: MAR25-MAR29 (JUN): DV PLATTS BRENT DIFF: APR1-APR5 (JUN): OMV OFFERS 100KB AT $0.49
TRADING BIDS 100KB AT $0.40 OFFERS 100KB AT $0.58 PLATTS BRENT DIFF: APR22-APR26 (JUN): DV
Offers: PLATTS BRENT DIFF: APR1-APR5 (JUN): DV TRADING TRADING OFFERS 100KB AT $0.50

PLATTS BRENT DIFF: MAR25-MAR29 (JUN): DARE Mo02 <PCAAR00> CFD Week 4 <PCAKG00> Brent Platts Mediterranean & Black Sea Sweet
OFFERS 100KB AT $0.70 Mo03 <PCARR00> CFD Week 5 <AAGLU00> CFD Week Crude Daily Commentary
PLATTS BRENT DIFF: MAR25-MAR29 (JUN): DV 6 <AAGLV00> CFD Week 7 <AALCZ00> CFD Week 8
Mixed sentiment on strength of CPC Blend crude
TRADING OFFERS 100KB AT $0.70 <AALDA00> Johan Sverdrup FOB North Sea <AJSVA00>
Trades: Johan Sverdrup FOB North Sea vs North Sea Dtd Strip Azeri Light slump affecting competing
NORTH SEA: <AJSVB00> grades: traders
CIF BASIS ROTTERDAM: PLATTS NSEA JOHAN
SVERDRUP: APRIL 3-7: SHELL BUYS FROM EQUINOR* Platts WTI Midland Crude DAP Europe Mixed views were emerging regarding Kazakhstan’s
700000.0B AT DTD $-1.45 . . (16:18:29) Assessment Rationale & Exclusions flagship CPC Blend March 19, as some traders pointed
CASH BFOE: WTI Crude DAP Europe <AWTIC00> assessment to strengthening in the grade but others highlighted
PLATTS CASH BFOE: MAY24: PETROINEOS SELLS rationale: weak demand amid turnaround season in Europe.
TO GUNVOR* 100KB AT $87.33 (16:29:34) WTI DAP Rotterdam was assessed unchanged “We are still in the middle of the turnaround, and
PLATTS CASH BFOE: MAY24: SHELL BUYS FROM between April 8 and May 17, with a flat structure rolled the arb [to Asia] is closed as well,” one trader said.
PETROINEOS* 100KB AT $87.37 (16:29:43) over back-end dates in the absence of indications “Europe seems to be struggling is the feeling I have
PLATTS CASH BFOE: MAY24: GUNVOR BUYS FROM testing the March 18 assessment. There were no at the moment, especially any April-arrival crude,” a
PETROINEOS* 100KB AT $87.37 (16:29:50) bids, offers or trades in the Platts Market on Close second trader agreed. “I think looking at runs, we’re
PLATTS CASH BFOE: MAY24: PETROINEOS SELLS assessment process for DAP WTI Midland. at peak maintenance now, we need to get over this
TO GUNVOR* 100KB AT $87.42 (16:29:56) WTI Crude DAP Augusta <AWTIA00> assessment period. May runs [are] a bit better but still heavy
PLATTS CASH BFOE SPREAD: MAY24/JUN24: rationale: so think it could take a few more weeks for market
CHEVRON OFFERS 100KB AT $0.86 WTI DAP Augusta was assessed unchanged sentiment to change.”
BRENT CFDS: between April 8 and May 17, with a flat structure rolled Platts, part of S&P Global Commodity Insights,
PLATTS BRENT DIFF: APR1-APR5 (JUN): ONYX over back-end dates in the absence of indications assessed CPC Blend at a $3.40/b discount to Dated
SELLS TO SHELL* 100KB AT $0.53 (16:29:45) testing the March 18 assessment. There were no Brent, March 18. However, some market participants
PLATTS BRENT DIFF: APR8-APR12 (JUN): ONYX bids, offers or trades in the Platts Market on Close said mid-April-loading CPC Blend cargoes had traded
SELLS TO SHELL* 100KB AT $0.53 (16:29:43) assessment process for DAP WTI Midland. at around a $2.50/b discount to Dated Brent late in the
PLATTS BRENT DIFF: APR15-APR19 (JUN): SHELL Exclusions: None week ended March 15.
BUYS FROM DARE* 100KB AT $0.55 (16:29:32) Platts is part of S&P Global Commodity Insights Elsewhere in the Mediterranean sweet crude
PLATTS BRENT DIFF: APR15-APR19 (JUN): ONYX complex, the crash in the Azeri Light differential had
SELLS TO SHELL* 100KB AT $0.54 (16:29:41) Platts WTI Midland Crude DAP Europe Bids, affected competing grades such as Algeria’s Saharan
PLATTS BRENT DIFF: APR15-APR19 (JUN): DARE Offers, Trades Blend and Libya’s Es Sider, traders said.
SELLS TO SUNCOR* 100KB AT $0.53 (16:29:53) “The Azeri crash had a huge impact on all similar
PLATTS BRENT DIFF: MAR25-MAR29 (JUN): GLENCORE Bids: None grades,” the first trader added. “Es Sider [is] struggling
SELLS TO EQUINOR* 100KB AT $0.48 (16:28:44) Offers: None to move this month and [Algerian state energy group]
PLATTS BRENT DIFF: MAR25-MAR29 (JUN): Trades: None Sonatrach is still long early-April cargoes.”
MERCURIA SELLS TO EQUINOR* 100KB AT $0.45 This assessment commentary applies to the Platts assessed Azeri Light at a $2.44/b premium to
(16:29:27 following market data codes: WTI Midland DAP Dated Brent March 18, down from a $3.80/b premium
This assessment commentary applies to the basis Rotterdam <AWTIC00> WTI Midland DAP basis the week prior. “Es Sider cannot be trading at a 30
following market data codes: Dated Brent <PCAAS00> Rotterdam vs Fwd Dated Brent <AWTID00> WTI cents/b premium [to Dated Brent] if Azeri is around a
CFD Week 1 <PCAKA00> CFD Week 2 <PCAKC00> Brent Midland DAP basis Augusta <AWTIA00> WTI Midland $2.40/b premium [to Dated Brent],” a third trader said.
Mo01 <PCAAQ00> CFD Week 3 <PCAKE00> Brent DAP basis Augusta vs Fwd Dated Brent <AWTIB00> Platts is part of S&P Global Commodity Insights

Platts NWE and Med Urals Sour Crude Daily February, the vast majority of which was sold locally at CIF Rotterdam differential was assessed as a net
Market Analysis cheap prices because the region’s main export pipeline forward to the Urals FOB Baltic assessment. The FOB
to Turkey remained closed due to a political and differentials were assessed unchanged based on
Iraq to cut crude exports to 3.3 mil b/d after
financial dispute between Baghdad, Erbil and Ankara. previously heard indications.
exceeding OPEC+ quota
International oil companies operating in Kurdistan Med Dated Brent Strip 13-28 Day <AALDF00>
To cut exports by 134,000 b/d, blames remain at loggerheads with the federal Iraqi assessment rationale:
Kurdish output government over the previous production sharing The Mediterranean Dated Brent Strip reflected the
contracts they had signed with Erbil, which federal value of Forward Dated Brent 13-28 days ahead of the
Iraq will hold its crude exports at 3.3 million b/d — marketer SOMO now wants to override. day of publication. Forward Dated Brent is assessed
about 134,000 b/d below its February level — through The oil companies also say they are owed as a function of Platts assessments of second-month
the end of June after having pumped above its OPEC+ hundreds of millions of dollars in unpaid royalties Cash BFOE (PCAAR00) and BFOE CFD differentials
quota since January, the oil ministry said March 18, as by the Kurdistan Regional Government for previous (PCAKA00, PCAKC00, PCAKE00, PCAKG00, AAGLU00,
compliance issues continue to test the bloc’s ability to production; the KRG, in turn, says Baghdad has AAGLV00, AALCZ00).
support the price of oil. withheld its fair share of the federal budget. CPC Blend CIF Augusta vs BTC Dtd Strip
OPEC’s second-largest producer after Saudi Arabia <AAHPL00> assessment rationale:
kept production flat month on month in February at Platts EMEA Urals and Med Brent Crude Daily CPC Blend was assessed 15 cents/b higher based
4.27 million b/d, according to the Platts OPEC Survey Rationales & Exclusions on indications heard throughout the day.
from S&P Global Commodity Insights, despite pledging Urals CIF Augusta differential <AAGXX00> Exclusions: None
to reduce output to 4 million b/d. assessment rationale: Platts is part of S&P Global Commodity Insights
OPEC+ has embarked on a series of overlapping Urals CIF Augusta was assessed 2.5 cents/b lower.
output cuts since 2022, the most recent of which There were no bids or offers in the Platts Market on Platts EMEA Urals & Med Brent Crude Bids,
came into effect Jan. 1 and were on March 3 extended Close assessment process. The Urals CIF Augusta Offers, Trades
through the second quarter. In the latest round of differential was assessed using a net forward to the
voluntary cuts, Baghdad had vowed to roll back an Urals FOB Aframax and Suezmax assessment. The Bids: None
additional 223,000 b/d. FOB differentials were assessed unchanged based on Offers: None
Iraq said it would reduce crude exports in coming previously heard indications. Trades: None
months to compensate for production in Iraqi Urals CIF Med <PCACE00> assessment rationale: This assessment commentary applies to
Kurdistan, over which it has little control. The country The Urals CIF Mediterranean assessment reflected the following market data codes: Urals CIF Med
also restated its commitment to OPEC+ voluntary cuts the value of the Mediterranean Dated Brent Strip <PCACE00>> Urals CIF Rdam <PCAFW00> ESPO FOB
“to maintain stability and balance” in the oil market. (AALDF00) plus the Urals CIF Augusta differential Kozmino Mo01 London <AARWD00> CPC CIF Augusta
On March 3, Iraq said its crude exports had risen assessment (AAGXX00). Diff <AAHPL00>
2.8% on the month to 3.434 million b/d, meaning the Urals RCMB (Recombined) <AALIN00> assessment
cuts amount to a 134,000 b/d reduction. rationale: Platts West African Crude Daily
Iraq’s Basrah Medium and Heavy crude grades are The Urals RCMB (Recombined) assessment Commentary
popular among refiners in India and China, as well as reflected the value of the Platts Dated Brent
Med market length dampens Nigerian sentiment
in the Mediterranean which is fundamentally short on assessment (PCAAS00) plus the Urals CIF Augusta
sour crude supply in the absence of Russian Urals and differential assessment (AAGXX00). Angolan May-loading program totals 34 cargoes
flows of Iraqi/Kurdish crude via Ceyhan. Urals CIF Rdam <PCAFW00> assessment rationale:
According to the Platts survey, the semiautonomous Urals CIF Rotterdam was assessed unchanged. Softening values in competing markets were
Kurdistan region produced about 260,000 b/d in There were no bids or offers in the MOC. The Urals dampening sentiment in the Nigerian crude market

March 19, with refinery turnarounds further weighing Platts US Pipeline Crude Daily Commentary at minus $1.44/b. However, against the forward NYMEX
on European appetite for West African barrels. WTI strip, Platts AGS was assessed 1 cent weaker at
USGC sour Mars sees strength
“The market is down, Azeri Light in the Med is plus $3.14/b.
putting a lot of pressure on the market,” said one WAF Market awaits FOMC meeting No new offers were heard for April-loading WTI
crude trader. “[Outside of limited offers] the market is Midland FOB USGC cargoes, and Platts assessed the
very quiet with nothing moving, the Med is the driver of Movements were mixed for US Gulf Coast first-decade price at a 70 cent/b premium to WTI at
that at the moment.” differentials March 19 as the expiration of the April WTI the Magellan East Houston terminal, assessed second
Cargoes of some of Nigeria’s premier grades contract drew closer. decade at a 65-cent/b premium, and assessed third
remained stubbornly high, with traders noting little Platts assessed West Texas Intermediate crude at decade at a 60-cent/b premium.
interest at such strong prices. Midland 20 cents/b weaker on the day at cash WTI plus While May-loading WTI Midland FOB cargoes have
April-loading stems of Escravos and Bonga $1.30/b, after it was heard to trade there, and WTI at not yet been assessed, they were heard talked in the
were heard offered above $4/b and just shy of Magellan East Houston 25 cents/b weaker on the day market at WTI MEH plus 75 cents/b.
$5/b premiums to global benchmark Dated Brent at cash WTI plus $1.55/b, after it was heard bid at cash The Frontline WTI to Brent spread was narrowed
respectively. WTI plus $1.50/b and offered at cash WTI plus $1.60/b. 2 cents on the day to minus $4.58/b. A more narrow
“There’s an April 5-6 loading Bonga cargo which is In contrast, Platts assessed medium sour crude WTI to Brent spread reduces the competitiveness
struggling for buyers,” the trader said. “The seller is Mars 55 cents/b stronger on the day at cash WTI plus of the West Texas Intermediate crude grade in the
offering just below a $5/b premium and I don’t think 25 cents/b, based on indications heard in the market. global market.
they will have bids higher than a $4/b premium when Market participants are waiting to see if the US Platts is part of S&P Global Commodity Insights.
you account for Azeri Light.” Platts, part of S&P Global Federal Open Market Committee meeting later this
Commodity Insights, assessed Bonga at a $4.55/b week will affect interest rates. According to analysts, Platts Canadian Pipeline Crude Daily
premium to Dated Brent on March 18. detaining rate cuts could add to concerns about Commentary
Angola is scheduled to export 34 crude oil cargoes slowing global economic activity and weakening
TMX continues to drive differentials stronger
in May, three of which have been deferred from the demand for crude oil.
April schedule, according to a copy of the provisional The FOMC is expected to keep its benchmark Western Canadian Select crude at Hardisty
loading program seen by S&P Global Commodity interest rate unchanged at a range of 5.25%-5.5%. assessed at WTI CMA minus $12.60/b
Insights March 19. Platts is part of S&P Global Commodity Insights.
Heavy sweet crude Dalia was shown as the highest Western Canadian Select crude at Hardisty was
volume export grade in May at five cargoes worth a Platts US Gulf Coast Export Crude Daily assessed March 19 at WTI CMA minus $12.60/b,
total 4.75 million barrels, followed by Mostarda at 3.8 Commentary strengthening 60 cents/b from its previous
million barrels. Cabinda will see its loadings increase assessment. This move came after a paper trade seen
Platts American Gulf Select price continues
from 63,333 b/d to 91,935 b/d with the addition of a in the market.
to climb
single 950,000-barrel cargo month on month. Heavy Canadian crude in Cushing, Oklahoma and
The three cargoes deferred from the April program Frontline WTI to Brent spread narrows slightly Nederland, Texas followed that movement and was
were listed as Girassol (loading deferred from April 30- assessed at WTI CMA minus $6.00/b, up 50 cents/b on
May 1 to May 7-8), Pazflor (loading deferred from April Platts American Gulf Select saw further support the day and at WTI CMA minus $5.10/b, up 40 cents/b,
30-May 1 to May 3-4) and Plutonio (loading deferred on March 19 as the Frontline WTI to Brent spread respectively.
from April 30-May 1 to May 4-5). narrowed. Mixed Sweet at Edmonton was also assessed
State oil company Sonangol is set to lift 13.350 Platts assessed AGS 50 cents stronger on the day unchanged at WTI CMA minus $3.05/b.
million barrels, or 41.4% of the program, up from 10.585 at $85.62/b. Against the forward Dated Brent strip, Syncrude Sweet Premium at Edmonton, Alberta,
million barrels in the finalized April program. Platts AGS was assessed 3 cents stronger on the day also unchanged on the day at WTI CMA plus $2.60/b.

Market participants continue to point the overall Platts assessed Vasconia at a $4.60/b discount Platts extends feedback period for proposal to
strengthening of the grades to the anticipation of the to ICE Brent, up 25 cents on the day. Vasconia amend Indonesia crude oil Market Parity Prices
Trans Mountain Pipeline and also due to turnarounds differentials were stronger as sour Mars differentials methodology
in the market. rallied. Platts assessed Mars at a 25-cent/b premium Platts, part of S&P Global Commodity Insights,
S&P Global Commodity Insights reported that it is to Cash WTI, up 55 cents/b on the day. is extending to April 5 the feedback period for its
expected that the Trans Mountain Expansion project Vasconia differentials have rallied from a year-to- proposal to amend the methodology it uses to
(TMX), which will have a total system capacity of date low of a $5.80/b discount to ICE Brent assessed calculate the Market Parity Prices for Indonesia’s
890,000 b/d, will operate with 540,000 b/d of heavy on Jan 31. Minas, Cinta and Widuri crude oil grades.
crude and 350,000 b/d of light and refined product Results for Petroecuador’s April tender of Napo The proposed launch date of April 1 will also be
capacity. crude was released March 19 — the state-run company revised to a later date, in line with the extended
In the East Canadian market, all grades weakened sold 3.6 million barrels of Napo crude to Unipec at feedback period. Platts first sought feedback on
30 cents from their previous assessments. Platts front-month NYMEX WTI minus $9.09/b. its proposal to amend the Indonesia crude oil MPP
assessed barrels of Hebron at minus $3.60 cents/b, Petroecuador previously sold 1.8 million barrels of methodology in a subscriber note published Feb. 2:
and Terra Nova at minus $3.40/b. Platts assessed Napo in March to Unipec at front-month Nymex minus (https://www.spglobal.com/commodityinsights/en/
Hibernia at minus 15 cents/b and White Rose at plus $8.88/b. our-methodology/subscriber-notes/020224-platts-
$0.70/b, respectively. Platts assessed Napo at a $9.10/ b discount to Cash proposes-amending-indonesia-crude-oil-market-
Platts is part of S&P Global Commodity Insights. WTI, down 55 cents day on day. parity-prices-methodology).
Platts is part of S&P Global Commodity Insights. The initial feedback period ended Feb. 23.
Platts Latin American Crude Daily Under the current proposal, the reference basket
Commentary of relevant crude grades where MPP calculations for
Subscriber Notes Minas, Cinta and Widuri are benchmarked to, would be
Colombian differentials stronger on day
amended to comprise Malaysia’s Kimanis, Abu Dhabi’s
Napo tender results announced Platts corrects ICE Brent crude futures at 4:30 pm Murban, Angola’s Cabinda and Dalia grades.
Singapore time March 18 The values of Cabinda and Dalia would be
Colombian crude differentials strengthened on Platts, part of S&P Global Commodity Insights, has calculated at the Asian market close (4:30 pm
March 19, as bullish movements in correlated regional corrected its March 18 assessments for ICE Brent Singapore time) based on their last assessed values
markets helped lifts prices higher. crude futures at 4:30 pm Singapore time, which should at the London close and accounting for the movement
Platts assessed Heavy Colombian grade Castilla read as follows: in the underlying Dated Brent benchmark at the
Blend at a $7.55/b discount to ICE Brent, up 50 cents. Corrected prior trading day’s European market close at 4:30 pm
Assessment Name Code
Castilla differentials were firmer with a robust day Value London time, until the Asian close.
ICE Brent at Singapore MOC MO02 XILLA02 85.32
for heavy Canadian grades. Platts assessed Western ICE Brent at Singapore MOC Time Spread MO01/MO02 AAZ0102 0.62 Currently, the reference basket of relevant crude
Canadian select at Nederland Texas at a $5.10/b ICE Brent at Singapore MOC Time Spread MO02/MO03 AAZ0203 0.69 grades in the MPP calculations comprise Kimanis,
discount to the WTI CMA, up 40 cents on the day. Murban and Russia’s ESPO Blend.
Castilla differentials have rallied to the highest These assessments appear in the Crude Oil Platts is also proposing to amend the underlying
levels since Oct. 24, 2024, when Platts assessed the Marketwire, Oilgram Price Report and Platts Global delivery point for Minas, Cinta, Widuri and the four
price at a $6.55/b discount to ICE Brent. Alert/Platts Crude Oil Alert on pages 0703 and 1201. basket grades, to Singapore.

Under this proposal, Minas, Cinta, Widuri and the crude as well as the broader oil market demand- assessment process, with effect from March 11, 2024.
four basket grades would be normalized for delivery to supply fundamentals reflected in the price of the This is in line with plans to launch the Platts Editorial
Singapore, accounting for freight. reference basket. Window (eWindow) communication tool for Guyana
The underlying refined product prices used in the More details on Platts MPP models and crude grades Liza, Unity Gold and Payara Gold.
calculation of the Gross Product Worth values will methodology are available at https://bit.ly/33GZehH. Following the eWindow launch in this market on
be based on the regional benchmark Mean of Platts Platts will continue to review the MPP models for March 11, participants in the Platts MOC assessment
Singapore refined product prices as listed below, at the Minas, Cinta and Widuri to ensure they continue to process for Guyana crude grades Liza, Unity Gold and
Asian market close. reflect prevailing market conditions and quality of the Payara Gold are able to submit bids and offers for
Benchmark CFR North Asia propane, butane spot crude grades. publication directly through the eWindow software or
prices will be normalized to Singapore in the GPW The Minas, Cinta and Widuri MPP assessments through an editor, who would then publish bids and
calculations. are published in Platts Crude Oil Marketwire, Platts offers using the software.
Product Code Oilgram Price Report and on Platts Global Alert and The eWindow launch applies to the following
Propane Refrigerated CFR North Asia 30-45 days AAVAK00
Butane Refrigerated CFR North Asia 30-45 days AAVAN00
Platts Crude Oil Alert pages 1250, 1805, 2210, 2211, 2216, assessments:
Naphtha FOB Singapore Cargo PAAAP00 2217, 2244, 2245, 2264, 2265, 2280, 2281, 2811 under the Liza (ALIZA00)
Gasoline Unl 95 FOB Spore Cargo PGAEZ00
Gasoline Unl 92 FOB Spore Cargo PGAEY00
following price database codes: Liza vs Latin American Brent Futures Strip
Jet Kero FOB Spore Cargo PJABF00 Assessment Code (ALIZC00)
Gasoil 0.001% S (10 ppm) FOB Spore Cargo AAOVC00 Minas at Singapore Close PCABO00
Gasoil 0.05% S (500 ppm) FOB Spore Cargo AAFEX00 Minas at Singapore Close Monthly Average AAFZH00
Liza vs Latin America Dated Brent Strip (ALIZB00)
Gasoil 0.25% S (2500 ppm) FOB Spore Cargo AACUE00 Minas at London Close AAPAZ00 Liza vs Latin America WTI Strip (ALIZD00)
FOB Spore Marine Fuel 0.5% Cargo AMFSA00 Minas at London Close Monthly Average AAPAZ03
FO 380 CST 3.5% S FOB Spore Cargo PPXDK00 Cinta at Singapore Close PCAAX00
Unity Gold (AUNIA00)
Cinta at Singapore Close Monthly Average AAFZC00 Unity Gold vs Latin American Brent Futures Strip
Cinta at London Close AAPBJ00
Currently, Minas, Cinta, Widuri, the three basket Cinta at London Close Monthly Average AAPBJ03
(AUNIB00)
grades and their GPWs are normalized for delivery Widuri at Singapore Close PCAFE00 Unity Gold vs Latin American WTI Strip (AUNIC00)
Widuri at Singapore Close Monthly Average PCAFE03
to Japan, accounting for freight and regional spot Widuri at London Close AAPBN00
Unity Gold vs Latin American Dated Brent Strip
product prices. Widuri at London Close Monthly Average AAPBN03 (AUNID00)
The proposed change would better reflect the Payara Gold (AYARA00)
recent flow of Minas, Cinta and Widuri crude that is Please send all feedback, comments or Payara Gold vs Latin American Brent Futures Strip
observed to be mainly processed by Southeast Asian questions to Asia_Crude@spglobal.com and (AYARC00)
refineries. pricegroup@spglobal.com by April 5. Payara Gold vs Latin American WTI Strip (AYARD00)
Platts will continue to report on any spot market For written comments, please provide a clear Payara Gold vs Latin American Dated Brent Strip
transactions for the three grades, but this information indication if comments are not intended for publication (AYARB00)
would not be used in the daily calculation of the MPP. by Platts for public viewing. Platts has established clearly defined timing
Platts MPPs provide a calculation of the equivalent Platts will consider all comments received and will guidelines and standards of incrementability that
market value of a given crude based on the value make comments not marked as confidential available apply when publishing bids and offers in the MOC
of its typical refined product yield, subtracting upon request. process, in order to ensure an orderly and transparent
costs for transport and the refining process, and price assessment process, which can be found here:
adjusting the resulting value based on the trading Platts changes Latin America, Caribbean MOC https://www.spglobal.com/commodityinsights/en/
levels of comparison crudes relative to their product timings for eWindow launch of Guyana crude grades our-methodology/methodology-specifications/oil/oil-
yield values. Platts, part of S&P Global Commodity Insights, timing-and-increment-guidelines.
The MPP model will ensure that the assessments has changed the timing and increment guidelines Under these changes to the MOC assessment
capture both the inherent refining value of the for its Latin America and Caribbean Market on Close process for Americas Crude - Latin America and

Caribbean, all outright and floating bids and offers Platts will consider all comments received and will For written comments and questions, please
will continue to have to be submitted by 1.45.00 hours make comments not marked as confidential available provide a clear indication if comments are not
Eastern Standard Time. However, bids and offers to the public upon request. intended for publication by Platts for public viewing.
submitted for publication via eWindow are now subject Platts is part of S&P Global Commodity Insights.
to new timing and increment guidelines which may vary Platts to amend cargo sizes for West African crude
from existing manual timing and increment guidelines, assessments Chevron Products UK Limited to join EMEA - WAF
as detailed in the following table: In line with evolving trends in the region, and loading Crude - Physical MOC
From March 11 programs for 2024 cargoes, S&P Global Commodity Chevron Products UK Limited has advised Platts,
Timing/increment Previous (Manual)
(eWindow) Insights will amend the cargo size on some of its West part of S&P Global Commodity Insights, that it would
Repeatability Within 60 seconds Within 60 seconds
Final State 2:28:00:000 2:28:00:000 African crude assessments, effective April 2. like to participate in the Platts Market on Close
Extension trigger period 2.29.30.00 to 2.30.00.00 2.29.00.00 to 2.30.00.00 Platts will amend the basis volume for the following assessment process for EMEA - WAF Crude - Physical.
Extension state 2.30.01.00 to 2.32.00.00 2.30.01.00 to 2.31.00.99
Maximum Increment/ assessments from April 2: Platts has reviewed Chevron Products UK Limited
1-10 cents/b/60 seconds 5-10 cents/b/60 seconds
Frequency Current and will consider information from the entity in the
New assessment
Country Grade
basis (barrels)
assessment basis assessment process for EMEA - WAF Crude - Physical,
(barrels)
Platts expects credit relationships that prevail Nigeria Agbami 1,000,000 975,000 subject at all times to adherence with Platts editorial
inside its assessment environment to fully reflect Nigeria Bonga 1,000,000 975,000 standards.
Nigeria Usan 1,000,000 950,000
relationships in the market as a whole, and apply to Angola Plutonio 1,000,000 950,000 Platts will publish all relevant information from
these new instruments as well. Chevron Products UK Limited accordingly.
Where Platts publishes bids and offers on behalf Platts will also amend min and max volumes for the Platts welcomes all relevant feedback regarding
of a company that submits data through an editor, following grades: MOC participation. Platts considers bids, offers
counterparty credit settings are set to “open” for New minimum New maximum Current min/max and transactions by all credible and credit-
Country Grade
reviewed participants in the assessment process, (barrels) (barrels) (barrels) worthy parties in its assessment processes. For
Nigeria Bonny Light 950,000 1,000,000 950,000/950,000
unless companies have notified Platts in advance of Nigeria Forcados 950,000 1,050,000 950,000/950,000 comments and feedback, please contact Platts
any restrictions. Companies should provide notification Nigeria Agbami 1,000,000 1,000,000 975,000/975,000 editors at pl_crudeoileurope@spglobal.com and
Nigeria Bonga 950,000 1,050,000 975,000/975,000
on any changes to counterparty credit filters at least Nigeria Usan 1,000,000 1,000,000 950,000/950,000 market_integrity_review@spglobal.com.
one hour prior to the cut off timing for submission of Angola Plutonio 1,000,000 1,000,000 950,000/950,000
bids and offers in the MOC assessment process. Platts invites feedback on Global Oil Timing and
eWindow provides direct entry and management of Assessments not listed in the tables above will have Increment Guidelines
credit filters, which should be those normally applied in no volume amendments. As part of its commitment to open and transparent
the marketplace, for companies participating directly Where the minimum and maximum volumes vary pricing and product specifications, Platts, part of
through the software. from the basis volume, Platts will publish bids, offers S&P Global Commodity Insights, would like to invite
Please send any comments or questions and trades for volumes within the range that are not feedback on its Global Oil Timing and Increment
to americas_crude@spglobal.com and the basis volume, however, these may be subject to Guidelines, specifically the guidelines described in the
pricegroup@spglobal.com. normalization for assessment purposes. methodology guide posted online here.
For written comments, please provide a clear Please send all comments to Platts reviews all methodologies annually to ensure
indication if comments are not intended for publication europe_crude@spglobal.com and they continue to reflect the physical markets under
by Platts for public viewing. pricegroup@spglobal.com. assessment, and regularly assesses the relevance

of methodologies through continuous contact with proposes-to-amend-period-published-incoterms-for- Platts Crude Alert pages 1210, 1212, 1238, and in Crude
the market. Feedback on methodologies is always wti-midland-dap-rotterdam-augusta-assessments Oil Marketwire.
welcomed by Platts. The decision relates to the following Platts Please send all feedback and questions
Please send all feedback, comments or assessments: to europe_crude@spglobal.com and
questions to oilgroup@spglobal.com and Differential to pricegroup@spglobal.com.
Assessment Outright
pricegroup@spglobal.com. forward Dated For written comments, please provide a clear
WTI Midland DAP Rotterdam AWTID00 AWTIC00
For written comments, please provide a clear WTI Midland DAP Augusta AWTIB00 AWTIA00 indication if comments are not intended for publication
indication if comments are not intended for publication by Platts for public viewing.
by Platts for public viewing. Platts will consider all 30-50 DAY FORWARD ASSESSMENT PERIOD Platts will consider all comments received and will
comments received and will make comments not Platts will adjust the assessment period for make feedback not marked as confidential available to
marked as confidential available upon request. the WTI Midland DAP Rotterdam and DAP Augusta the public upon request.
assessments to 30-50 days forward from the
Platts to amend assessment period, published assessment date. Platts to discontinue Eagle Ford 45 DAP Rotterdam,
incoterms for WTI Midland DAP Augusta, Rotterdam This is updated from the originally proposed 30-60 Augusta assessments
assessments days ahead assessment range and reflects feedback In response to evolving trade flows and recent
In response to evolving practice in the WTI that WTI Midland Aframax cargoes are rarely trading for feedback from market participants, Platts, part of
Midland delivered-Europe market and feedback from arrival beyond 50 days forward. S&P Global Commodity Insights, will discontinue its
participants, Platts, part of S&P Global Commodity The assessments currently reflect DAP Rotterdam Eagle Ford 45 assessments on a DAP Rotterdam and
Insights, will make the following amendments to and DAP Augusta WTI Midland cargoes arriving 20-60 Augusta basis from May 1.
assessments from April 2: days forward from the assessment date on both an Platts currently publishes assessments for Eagle
Amend the assessment period of its WTI Midland outright basis and differential to Dated Brent. Ford 45 on a DAP Rotterdam and DAP Augusta basis as
Delivered at Place (DAP) Rotterdam and DAP As a result of the assessment range change, the both an outright price and differential to Dated Brent.
Augusta assessments to reflect cargoes arriving 30- 23-63 Dated Brent Strip [AALEJ00] will be adjusted to This decision follows a consultation on the spot
50 days ahead of the assessment date. reflect a period of 33-53 days forward. market volumes for Eagle Ford 45 delivered to Europe
PUBLICATION OF CIF AND CFR OFFERS published Oct. 16 2023, which can be found at:
Publish bids, offers and trades on a Cost,
Platts will publish bids, offers and trades in the https://www.spglobal.com/commodityinsights/
Insurance, Freight (CIF) and Cost & Freight (CFR)
MOC for WTI Midland on a CIF and CFR Rotterdam, en/our-methodology/subscriber-notes/101623-platts-
Rotterdam, Augusta basis for WTI Midland cargoes
Augusta basis, in addition to on a DAP Rotterdam, opens-consultation-on-dap-rotterdam-dap-augusta-
in addition to DAP Rotterdam, Augusta in the
Augusta basis. wti-midland-and-eagle-ford-45-crude-assessments
Platts Market on Close assessment process with
Bids, offers and trades on a CIF or CFR Rotterdam, Spot market liquidity of Eagle Ford 45 delivered into
assessments continuing to reflect DAP Rotterdam,
Augusta basis may be subject to normalization for the Northwest European and the Mediterranean crude
Augusta values.
assessment purposes. markets has declined in recent years as trading activity
Assessments will reflect DAP Rotterdam, Augusta DAP INCOTERM has thinned and exported volumes of WTI Midland into
values with cargo quantity and quality measured at Platts understands prevailing market practice for the region have increased.
load port. WTI Midland trading on a DAP Rotterdam and DAP The discontinuation relates to the following Platts
The decision followed a proposal on the Augusta basis is for cargo quantity and quality to be assessments:
WTI Midland DAP Rotterdam and DAP Augusta measured at load port. Differential to
Assessment Outright
assessments published Dec. 12, which can be found at: Platts clarifies its assessments will reflect DAP Dated Brent
Eagle Ford 45 DAP Rotterdam AEFAD00 AEFAC00
https://www.spglobal.com/commodityinsights/ Rotterdam, Augusta with load port quality and quantity. Eagle Ford 45 DAP Augusta AEFAB00 AEFAA00
en/our-methodology/subscriber-notes/121223-platts- The assessments appear on Platts Global Alert and

The assessments appear on Platts Global Alert and questions to europe_crude@spglobal.com and by Platts for public viewing.
Platts Crude Alert pages 1210, 1212, 1238, and in Crude pricegroup@spglobal.com by April. 1. Platts will consider all comments received and will
Oil Marketwire. For written comments, please provide a clear make comments not marked as confidential available
Please send all feedback, comments or indication if comments are not intended for publication upon request.

Commodity Insights Analytics US Yields & Netbacks Effective March 19, 2024 ($/barrel)
US Gulf Coast (PGA page 0833) US Gulf Coast (PGA page 0841)
Crack Yield Freight Crack Netback Crude Price Crack Margin Coke Yield Freight Coke Netback Crude Price Coke Margin
Agbami AGGCY00 103.95 AGGFA00 3.17 AGGCN00 100.78 AAQZB00 85.73 AGGCM00 14.05
Arab Berri BEGCY00 102.80 TDDAC00 1.32 BEGCN00 101.49 AAXCT00 90.82 BEGCM00 10.67
Arab Heavy AHGCY00 93.13 TDDAJ00 1.39 AHGCN00 91.74 AAXDI00 89.12 AHGCM00 2.62 Arab Heavy AHGOY00 99.62 TDDAJ00 1.39 AHGON00 98.24 AAXDI00 89.12 AHGOM00 9.12
Arab Light LIGCY00 100.01 TDDAR00 1.35 LIGCN00 98.66 AAXCU00 88.57 LIGCM00 10.09 Arab Light LIGOY00 102.64 TDDAR00 1.35 LIGON00 101.29 AAXCU00 88.57 LIGOM00 12.72
Arab Medium MEGCY00 95.24 TDDAZ00 1.35 MEGCN00 93.89 AAXDN00 89.57 MEGCM00 4.32 Arab Medium MEGOY00 98.97 TDDAZ00 1.35 MEGON00 97.62 AAXDN00 89.57 MEGOM00 8.05
Bakken BKGCY00 103.68 TDDRP00 7.78 BKGCN00 95.89 AAXPP00 79.76 BKGCM00 16.13
Basrah Heavy BHGOY00 95.74 BHGFA00 3.80 BHGON00 91.94 AALZC00 82.82 BHGOM00 12.59
Basrah Medium BLGCY00 92.93 TDDBS00 3.62 BLGCN00 89.31 BSMAM01 86.22 BLGCM00 5.60 Basrah Medium BLGOY00 98.21 TDDBS00 3.62 BLGON00 94.59 BSMAM01 86.22 BLGOM00 10.88
Bonny Light YLGCY00 106.53 TDDBX00 3.46 YLGCN00 103.07 PCAIC00 89.13 YLGCM00 12.95
Brent BRGCY00 102.93 TDDCB00 3.63 BRGCN00 99.30 AAVJA00 88.15 BRGCM00 10.16
Cabinda CBGCY00 104.37 TDDCF00 3.72 CBGCN00 100.65 PCAFD00 87.68 CBGCM00 11.97 Cabinda CBGOY00 101.63 TDDCF00 3.72 CBGON00 97.91 PCAFD00 87.68 CBGOM00 9.24
Castilla Blend CSGOY00 94.93 CSGFA00 2.59 CSGON00 92.34 AAVEQ00 78.56 CSGOM00 13.78
Eagle Ford EAGCY00 104.60 AAYAT00 84.62 EAGCM00 19.98
Escalante ECGCY00 102.91 TDDCV00 4.09 ECGCN00 98.81 PCAGC00 85.71 ECGCM00 12.12
Forties FTGCY00 102.41 FTGFA00 3.31 FTGCN00 99.10 PCADJ00 87.97 FTGCM00 10.14
Isthmus ISGCY00 100.96 TDDDJ00 1.59 ISGCN00 99.37 PDATO09 81.70 ISGCM00 17.67
LLS LLGCY00 105.57 TDDQW00 0.55 LLGCN00 105.02 PCABN00 86.27 LLGCM00 18.75 LLS LLGOY00 105.51 TDDQW00 0.55 LLGON00 104.96 PCABN00 86.27 LLGOM00 18.69
Mars MRGCY00 97.48 TDDQY00 0.55 MRGCN00 96.93 AAMBR00 83.72 MRGCM00 13.21 Mars MRGOY00 101.21 TDDQY00 0.55 MRGON00 100.66 AAMBR00 83.72 MRGOM00 16.94
Maya MYGCY00 84.07 TDDDP00 1.66 MYGCN00 82.40 PDATS09 75.65 MYGCM00 6.75 Maya MYGOY00 96.12 TDDDP00 1.66 MYGON00 94.45 PDATS09 75.65 MYGOM00 18.80
Napo NPGOY00 93.04 NPGFA00 5.59 NPGON00 87.45 AAMCA00 73.14 NPGOM00 13.44
Olmeca OLGCY00 103.57 TDDDY00 1.63 OLGCN00 101.94 PDATT09 83.30 OLGCM00 18.64
Oriente ORGOY00 99.03 ORGFA00 5.28 ORGON00 93.75 PCADE00 77.84 ORGOM00 15.09
Poseidon PDGCY00 98.41 PDGFA00 0.00 PDGCN00 98.41 AABHK00 82.92 PDGCM00 15.49
Saharan Blend SHGCY00 104.02 TDDRD00 2.28 SHGCN00 101.74 AAGZY00 88.02 SHGCM00 12.73
Syncrude SYGCY00 106.36 SYGFA00 8.52 SYGCN00 97.84 AASOK00 84.46 SYGCM00 13.38
Urals URGCY00 99.59 TDDFM00 3.88 URGCN00 95.71 AAWVH00 70.12 URGCM00 24.60 Urals URGOY00 101.90 TDDFM00 3.88 URGON00 98.02 AAWVH00 70.12 URGOM00 26.90
Vasconia VCGOY00 103.03 VCGFA00 2.52 VCGON00 100.51 PCAGI00 81.51 VCGOM00 19.00
WCS ex-Hardisty WHGOY00 97.54 TDDRS00 8.50 WHGON00 89.04 AAPPN00 69.56 WHGOM00 19.48
WCS ex-Nederland WNGOY00 97.54 WCGFA00 0.00 WNGON00 97.54 AAYAY00 76.76 WNGOM00 20.78
WTI WTGCY00 104.41 AAYRG00 85.02 WTGCM00 19.39
WTS WSGCY00 100.37 TDDRJ00 6.89 WSGCN00 93.48 PCACK00 83.97 WSGCM00 9.51 WTS WSGOY00 103.68 TDDRJ00 6.89 WSGON00 96.79 PCACK00 83.97 WSGOM00 12.82

Commodity Insights Analytics US Yields & Netback ($/barrel) (continued)

US Midwest (PGA page 0823) US Midwest (PGA page 0821)
Bakken BKTCY00 109.05 TDDRO00 1.68 BKTCN00 107.37 AASRU00 79.96 BKTCM00 27.41
Syncrude SYTCY00 110.39 TDDFP00 8.20 SYTCN00 102.19 AASOK00 84.46 SYTCM00 17.73
WCS WCTOY00 102.83 TDDRL00 8.56 WCTON00 94.27 AAPPN00 69.56 WCTOM00 24.71
WTI WTTCY00 108.66 TDDRG00 2.39 WTTCN00 106.27 PCACG00 83.47 WTTCM00 22.80
WTS WSTCY00 105.77 TDDRI00 3.08 WSTCN00 102.69 PCACK00 83.97 WSTCM00 18.72 WTS WSTOY00 109.52 TDDRI00 3.08 WSTON00 106.44 PCACK00 83.97 WSTOM00 22.47
US West Coast (PGA page 0843) US West Coast (PGA page 0841)
ANS ANWCY00 113.03 PCAAD00 86.83 ANWCM00 26.20 ANS ANWOY00 115.88 PCAAD00 86.83 ANWOM00 29.05
Arab Light LIWOY00 117.97 TDDAT00 1.35 LIWON00 116.62 AAXCU00 88.57 LIWOM00 28.05
Arab Medium MEWOY00 113.18 TDDBB00 1.35 MEWON00 111.82 AAXDN00 89.57 MEWOM00 22.25
Bakken BKWCY00 119.49 TDDRT00 11.74 BKWCN00 107.75 AAXPP00 79.76 BKWCM00 27.99
Basrah Heavy BHWOY00 112.81 BHWFA00 4.05 BHWON00 108.76 AALZC00 82.82 BHWOM00 30.39
Basrah Medium BLWOY00 114.18 TDDBW00 3.86 BLWON00 110.32 BSMAM01 86.22 BLWOM00 27.60
Castilla Blend CSWOY00 116.04 CSWFA00 7.15 CSWON00 108.89 AAVEQ00 78.56 CSWOM00 29.46
Maya MYWOY00 112.36 MYWFA00 4.12 MYWON00 108.23 AAUPK00 78.95 MYWOM00 29.28
Napo NPWOY00 111.33 NPWFA00 6.27 NPWON00 105.06 AAMCA00 73.14 NPWOM00 31.05
Oriente ORWOY00 115.28 TDDEC00 5.92 ORWON00 109.36 PCADE00 77.84 ORWOM00 30.70
Vasconia VCWOY00 123.55 VCWFA00 6.90 VCWON00 116.66 PCAGI00 81.51 VCWOM00 34.31
US Atlantic Coast (PGA page 0811)
Crack Yield Freight Crack Netback Crude Price Crack Margin

Agbami AGACY00 100.02 AGAFA00 2.77 AGACN00 97.25 AAQZB00 85.73 AGACM00 10.52
Arab Light LIACY00 96.73 TDDAU00 1.35 LIACN00 95.38 AAXCU00 88.57 LIACM00 6.81
Bakken BKACY00 101.40 TDDRN00 7.20 BKACN00 94.20 AAXPP00 79.76 BKACM00 14.44
Bonny Light YLACY00 101.93 TDDBZ00 3.03 YLACN00 98.90 PCAIC00 89.13 YLACM00 8.78
Brent BRACY00 98.98 TDDCC00 2.77 BRACN00 96.20 AAVJA00 88.15 BRACM00 8.04
Cabinda CBACY00 101.69 TDDCH00 3.29 CBACN00 98.40 PCAFD00 87.68 CBACM00 9.73
CPC Blend CPACY00 100.95 CPAFA00 3.34 CPACN00 97.62 AALVX00 80.56 CPACM00 17.05
Forties FTACY00 100.79 FTAFA00 2.56 FTACN00 98.23 PCADJ00 87.97 FTACM00 10.26
Saharan Blend SHACY00 102.35 SHAFA00 1.88 SHACN00 100.48 AAGZY00 88.02 SHACM00 11.47
Urals URACY00 96.43 URAFA00 3.02 URACN00 93.40 AAWVH00 70.12 URACM00 22.29

Commodity Insights Analytics European Yields & Netbacks Effective March 19, 2024 ($/barrel)
Northwest Europe (PGA page 1811) Mediterranean (PGA page 1821)
Crack Yield Freight Crack Netback Crude Price Crack Margin Crack Yield Freight Crack Netback Crude Price Crack Margin
Agbami AGNCY00 101.66 2.65 AGNCN00 99.00
AGNFA00 AAQZB00 85.73 AGNCM00 13.27 Agbami AGMCY00 100.46 AGMFA00 2.53 AGMCN00 97.93 AAQZB00 85.73 AGMCM00 12.20
Arab Berri BENCY00 101.49 BENFA00 1.32 BENCN00 100.17 AAXDU00 90.08 BENCM00 10.09
Arab Heavy AHNCY00 91.38 TDDAN00 1.39 AHNCN00 89.99 AAXDH00 84.88 AHNCM00 5.11 Arab Heavy AHMCY00 91.25 TDDAI00 1.39 AHMCN00 89.86 AAXDH00 84.88 AHMCM00 5.58
Arab Light LINCY00 98.94 TDDAV00 1.35 LINCN00 97.59 AAXDK00 88.28 LINCM00 9.31 Arab Light LIMCY00 97.92 TDDAQ00 1.35 LIMCN00 96.57 AAXDK00 88.28 LIMCM00 8.79
Arab Medium MENCY00 93.73 TDDBD00 1.36 MENCN00 92.36 AAXDM00 87.58 MENCM00 4.78 Arab Medium MEMCY00 92.98 TDDAY00 1.37 MEMCN00 91.62 AAXDM00 87.58 MEMCM00 4.34
Azeri Light ZLNCY00 103.67 TDDBI00 2.58 ZLNCN00 101.09 AATHM00 86.33 ZLNCM00 13.07 Azeri Light* ZLMCY00 102.36 AAGZX00 89.57 ZLMCM00 12.80
Basrah Medium BLNCY00 91.88 TDDBU00 3.96 BLNCN00 87.92 BSMAM01 86.22 BLNCM00 5.23 Basrah Medium BLMCY00 91.18 TDDBR00 2.86 BLMCN00 88.32 BSMAM01 86.22 BLMCM00 5.63
Bonny Light YLNCY00 104.67 YLNFA00 2.90 YLNCN00 101.77 PCAIC00 89.13 YLNCM00 12.64 Bonny Light YLMCY00 103.28 YLMFA00 2.77 YLMCN00 100.51 PCAIC00 89.13 YLMCM00 11.38
Brent BRNCY00 100.92 TDDCD00 2.61 BRNCN00 98.31 AAVJA00 88.15 BRNCM00 10.16
Cabinda CBNCY00 100.09 TDDQR00 3.16 CBNCN00 96.93 PCAFD00 87.68 CBNCM00 9.25 Cabinda CBMCY00 99.00 CBMFA00 3.02 CBMCN00 95.98 PCAFD00 87.68 CBMCM00 8.30
CPC Blend CPNCY00 101.27 CPNFA00 4.22 CPNCN00 97.04 AALVX00 80.56 CPNCM00 16.48 CPC Blend* CPMCY00 99.70 AAGZU00 83.87 CPMCM00 15.84
Dubai DBNCY00 97.40 DBNFA00 3.71 DBNCN00 93.70 PCAAT00 86.41 DBNCM00 5.74
Eagle Ford EANCY00 101.84 EANFA00 4.92 EANCN00 96.92 AAYAT00 84.62 EANCM00 12.31 Eagle Ford EAMCY00 100.71 TNEIF00 5.19 EAMCN00 95.52 AAYAT00 84.62 EAMCM00 10.91
Ekofisk EKNCY00 102.29 TDDCT00 1.69 EKNCN00 100.60 PCADI00 89.72 EKNCM00 10.89
Forties FTNCY00 100.95 TDDEZ00 1.98 FTNCN00 98.97 PCADJ00 87.97 FTNCM00 11.00 Forties FTMCY00 99.89 FTMFA00 2.67 FTMCN00 97.22 PCADJ00 87.97 FTMCM00 9.25
Iran Heavy BHNCY00 97.02 TDDDG00 3.91 BHNCN00 93.10 AIHKA00 82.83 BHNCM00 9.36 Iran Heavy BHMCY00 96.37 TDDDF00 2.80 BHMCN00 93.57 AIHKA00 82.83 BHMCM00 9.83
Johan Sverdrup JSNCY00 98.49 JSNFA00 2.09 JSNCN00 96.40 AJSVA00 84.88 JSNCM00 11.52 Johan Sverdrup JSMCY00 97.76 JSMFA00 2.83 JSMCN00 94.93 AJSVA00 84.88 JSMCM00 10.05
Kirkuk KRNCY00 97.68 TDDGH00 4.14 KRNCN00 93.54 AAEJD00 85.82 KRNCM00 7.55 Kirkuk KRMCY00 96.75 TDDFF00 2.26 KRMCN00 94.49 AAEJD00 85.82 KRMCM00 8.50
LLS LLNCY00 104.80 LLNFA00 5.17 LLNCN00 99.63 AAQBB00 86.18 LLNCM00 13.37 LLS LLMCY00 103.39 LLMFA00 5.45 LLMCN00 97.94 AAQBB00 86.18 LLMCM00 11.68
Maya MYNCY00 84.78 MYNFA00 5.29 MYNCN00 79.50 AAYXE00 76.73 MYNCM00 2.77
Oman OMNCY00 97.78 OMNFA00 3.64 OMNCN00 94.14 PCABS00 86.41 OMNCM00 6.20 Oman OMMCY00 97.23 2.54 OMMCN00 94.69
OMMFA00 PCABS00 86.41 OMMCM00 6.75
Saharan Blend SHNCY00 102.18 TDDGI00 2.61 SHNCN00 99.57 AAGZY00 88.02 SHNCM00 11.56 Saharan Blend SHMCY00 100.53 1.89 SHMCN00 98.63
TDDFG00 AAGZY00 88.02 SHMCM00 10.62
Urals* URNCY00 99.22 PCAFW00 73.58 URNCM00 25.64 Urals* URMCY00 97.48 PCACE00 74.76 URMCM00 22.72
WTI MEH WTNCY00 101.73 WTNFA00 5.00 WTNCN00 96.73 AAYRZ00 84.98 WTNCM00 11.72
*Indicates the crude price is a CIF value
Commodity Insights Analytics Asian yields & netbacks effective March 19, 2024 ($/barrel)
Singapore (PGA page 2811) Singapore (PGA page 2811)
Crack Yield Freight Crack Netback Crude Price Crack Margin Crack Yield Freight Crack Netback Crude Price Crack Margin
Agbami AGSCY00 95.48 AGSFA00 3.15 AGSCN00 92.33 AAQZB00 85.73 AGSCM00 7.23 Forties FTSCY00 93.91 TNEFD00 4.08 FTSCN00 89.82 PCADJ00 87.97 FTSCM00 2.49
Arab Berri BESCY00 94.31 BESFA00 1.97 BESCN00 92.34 AAXDV00 87.91 BESCM00 4.43 Kimanis KISCY00 103.18 KISFA00 1.48 KISCN00 101.70 AASCL00 96.82 KISCM00 4.88
Arab Heavy AHSCY00 85.71 TDDAO00 2.05 AHSCN00 83.66 AAXDG00 86.11 AHSCM00 -2.45 LLS LLSCY00 97.32 LLSFA00 4.44 LLSCN00 92.88 AAZDC00 85.34 LLSCM00 7.25
Arab Light LISCY00 92.54 TDDAW00 2.01 LISCN00 90.52 AAXDJ00 87.91 LISCM00 2.61 Mars MRSCY00 90.36 MRSFA00 4.59 MRSCN00 85.77 AAMBR00 83.72 MRSCM00 2.69
Arab Medium MESCY00 87.95 TDDBE00 2.03 MESCN00 85.92 AAXDL00 86.96 MESCM00 -1.04 Maya MYSCY00 83.75 MYSFA00 4.81 MYSCN00 78.94 AAYXG00 77.26 MYSCM00 1.68
Basrah Medium BHSCY00 87.54 BHSFA00 2.16 BHSCN00 85.38 BSMAM01 86.22 BHSCM00 -0.23 Minas MNSCY00 97.33 TDDDX00 1.50 MNSCN00 95.83 PCABO00 82.54 MNSCM00 13.29
Bonny Light YLSCY00 97.87 YLSFA00 3.40 YLSCN00 94.47 PCAIC00 89.13 YLSCM00 5.97 Oman OMSCY00 89.53 TDDEB00 1.81 OMSCN00 87.72 PCABS00 86.41 OMSCM00 1.31
Cabinda CBSCY00 96.11 TDDQS00 3.27 CBSCN00 92.84 PCAFD00 87.68 CBSCM00 5.79 Qua lboe QBSCY00 98.34 QBSFA00 3.40 QBSCN00 94.93 PCAID00 89.73 QBSCM00 5.83
Castilla CSSCY00 80.67 CSSFA00 4.92 CSSCN00 75.76 AAVEQ00 78.56 CSSCM00 -2.16 Saharan Blend SHSCY00 93.94 SHSFA00 2.72 SHSCN00 91.23 AAGZY00 88.02 SHSCM00 3.01
Dalia DLSCY00 97.03 DLSFA00 3.39 DLSCN00 93.64 AAQYX00 85.83 DLSCM00 8.44 Tapis TPSCY00 96.44 TDDEO00 1.46 TPSCN00 94.98 PCACB00 90.27 TPSCM00 4.71
Dubai DBSCY00 91.77 TDDCQ00 1.90 DBSCN00 89.87 PCAAT00 86.41 DBSCM00 3.46 Tupi* LUSCY00 95.74 LUQDA00 88.30 LUSCM00 8.62
Duri DRSCY00 96.23 TDDCR00 1.64 DRSCN00 94.58 PCABA00 91.77 DRSCM00 2.81 Urals URSCY00 92.21 URSFA00 2.86 URSCN00 89.35 AAGZS00 70.12 URSCM00 19.86
Eagle Ford EASCY00 95.54 EASFA00 4.26 EASCN00 91.28 AAYAT00 84.62 EASCM00 7.30 WTI MEH WTSCY00 95.47 WTSFA00 4.33 WTSCN00 91.14 AAZDF00 84.39 WTSCM00 6.76
ESPO ESSCY00 95.11 ESSFA00 1.50 ESSCN00 93.62 AARWF00 82.58 ESSCM00 11.04
*Indicates the crude price is a CIF value

Crude Carbon Intensity
A daily supplement to Crude Oil Marketwire
Platts crude carbon intensity assessments - grades, March 19, 2024 (PGA/PCR page 4206)
Daily Carbon Intensity Premium Monthly Carbon Intensity*
Symbol $/b Symbol Date kg CO2 eq/b
Africa (PGA/PCR page 4206)
Saharan Blend AGING00 0.34 AGINO40 Feb-24 26.00
North America (PGA/PCR page 4206)

WTI Midland WXTIC00 0.53 WXTIC40 Feb-24 41.34
Europe (PGA/PCR page 4206)

Brent BXREC00 0.89 BXREC40 Feb-24 69.08
Ekofisk EXKOC00 0.30 EXKOC40 Feb-24 23.27
Forties FXORC00 0.31 FXORC40 Feb-24 24.15
Oseberg OXSEC00 1.45 OXSEC40 Feb-24 112.44
Troll TXROC00 4.26 TXROC40 Feb-24 330.10
Middle East (PGA/PCR page 4206)

Al-Shaheen AGINC00 0.12 AGINK40 Feb-24 9.60
Arab Light AGINF00 0.25 AGINN40 Feb-24 19.29
Das Blend AGINE00 0.31 AGINM40 Feb-24 24.23
Dubai AGINA00 0.35 AGINI40 Feb-24 27.13
Murban AGINH00 0.31 AGINP40 Feb-24 23.84
Oman AGINB00 0.25 AGINJ40 Feb-24 19.31
UpperZakum AGIND00 0.17 AGINL40 Feb-24 13.12
Upstream CI values are modelled on a marginal basis and are published monthly. CI Premiums are assessed daily.
*Upstream marginal CI value is assessed from the field to the storage terminal.
Details on the Platts methodology can be found at spglobal.com/commodityinsights/.
Platts crude carbon intensity assessments - fields, March 19, 2024 (PGA page 4200)
Daily Carbon Intensity Premium Monthly Carbon Intensity* Daily Transport Carbon Intensity Premium Monthly Transport Carbon Intensity**
Symbol $/boe Symbol Date kg CO2 eq/boe Route Symbol $/b Symbol Date kg CO2 eq/b
Asia Pacific & Middle East Fields (PGA/PCR page 4201)
China
Bozhong BOZHC00 0.50 BOZHC40 Feb-24 38.57 Bohai Pengbo-Singapore BOZHC10 0.06 BOZHC50 Feb-24 4.24
India
Bombay High MUMBC00 0.36 MUMBC40 Feb-24 28.24 Bombay High-Qingdao MUMBC10 0.09 MUMBC50 Feb-24 6.80
Iran
Marun MARUC00 0.47 MARUC40 Feb-24 36.05 Kharg Island-Qingdao MARUC10 0.12 MARUC50 Feb-24 8.96
Iraq
Kirkuk KIRKC00 0.61 KIRKC40 Feb-24 47.38 Ceyhan-R’dam KIRKC10 0.06 KIRKC50 Feb-24 4.55
Rumaila RUMAC00 0.28 RUMAC40 Feb-24 21.87 Al Basrah-Sikka RUMAC10 0.03 RUMAC50 Feb-24 2.09
www.spglobal.com/commodityinsights
Platts crude carbon intensity assessments - fields (continued) (PGA page 4200)
West Qurna-2 WESTC00 0.86 WESTC40 Feb-24 66.86 Al Basrah-Sikka WESTC10 0.03 WESTC50 Feb-24 2.22
Zubair ZUBAC00 0.67 ZUBAC40 Feb-24 51.89 Al Basrah-Sikka ZUBAC10 0.03 ZUBAC50 Feb-24 2.09
Kuwait
Burgan BURGC00 0.22 BURGC40 Feb-24 16.86 Mina-Ulsan BURGC10 0.12 BURGC50 Feb-24 9.31
Oman
Oman Basin AMRGF00 0.24 AMRGS40 Feb-24 18.32 Salalah-Tranmere ASITF10 0.11 ASITS50 Feb-24 8.59
Qatar
Al-Shaheen AMRGE00 0.11 AMRGR40 Feb-24 8.75 Al-Shaheen-Singapore ASITE10 0.07 ASITR50 Feb-24 5.63
Dukhan DUKHC00 1.50 DUKHC40 Feb-24 116.10 Mesaieed-Singapore DUKHC10 0.07 DUKHC50 Feb-24 5.03
Saudi Arabia
Abu Hadriya AMRGI00 0.23 AMRGV40 Feb-24 18.17 Ras Tanura-Ain Sukhna ASITI10 0.02 ASITV50 Feb-24 1.27
Ghawar GHWRC00 0.24 GHWRC40 Feb-24 18.32 Ras Tanura-Qingdao GHWRC10 0.11 GHWRC50 Feb-24 8.33
Khurais AMRGH00 0.23 AMRGU40 Feb-24 17.84 Ras Tanura-Ain Sukhna ASITH10 0.02 ASITU50 Feb-24 1.20
Safaniya SAFAC00 0.20 SAFAC40 Feb-24 15.52 Ras Tanura-Changxing SAFAC10 0.12 SAFAC50 Feb-24 9.53
Zuluf ZULUC00 0.29 ZULUC40 Feb-24 22.35 Ras Tanura-Changxing ZULUC10 0.12 ZULUC50 Feb-24 9.24
UAE
Abu Al Bukhoosh AMRGM00 0.15 AMRGZ40 Feb-24 11.24 Zirku-Sikka ASITM10 0.02 ASITZ50 Feb-24 1.65
El Bunduq AMRGL00 0.48 AMRGY40 Feb-24 36.88 Zirku-Sikka ASITL10 0.02 ASITY50 Feb-24 1.57
Falah AMRGA00 0.16 AMRGN40 Feb-24 12.52 Falah-Kiire ASITA10 0.13 ASITN50 Feb-24 10.36
Fateh FATEC00 0.22 FATEC40 Feb-24 16.92 Fateh-Kiire FATEC10 0.11 FATEC50 Feb-24 8.56
Lower Zakum AMRGD00 0.15 AMRGQ40 Feb-24 11.60 Zirku-Sikka ASITD10 0.02 ASITQ50 Feb-24 1.70
Murban MURBC00 0.26 MURBC40 Feb-24 19.82 Fujairah-Chiba MURBC10 0.11 MURBC50 Feb-24 8.55
Nasr AMRGK00 0.19 AMRGX40 Feb-24 14.91 Zirku-Sikka ASITK10 0.02 ASITX50 Feb-24 1.62
Rashid AMRGB00 0.47 AMRGO40 Feb-24 36.27 Mina-Kiire ASITB10 0.13 ASITO50 Feb-24 10.17
Umm Shaif AMRGJ00 0.29 AMRGW40 Feb-24 22.68 Zirku-Sikka ASITJ10 0.02 ASITW50 Feb-24 1.60
Upper Zakum AMRGC00 0.15 AMRGP40 Feb-24 11.81 Zirku-Zhoushan ASITC10 0.12 ASITP50 Feb-24 9.05
Africa Fields (PGA/PCR page 4202)

Algeria
Hassi Messaoud AMRGG00 0.29 AMRGT40 Feb-24 22.13 Skikda-Tranmere ASITG10 0.03 ASITT50 Feb-24 2.07
Angola
Girassol GRSLC00 0.15 GRSLC40 Feb-24 11.81 Girassol-Qingdao GRSLC10 0.17 GRSLC50 Feb-24 13.18
Libya
Waha WAHAC00 0.52 WAHAC40 Feb-24 40.59 Zawia-Augusta WAHAC10 0.01 WAHAC50 Feb-24 0.44
Nigeria
Agbami AGBAC00 0.35 AGBAC40 Feb-24 26.88 Agbami-Paradip AGBAC10 0.13 AGBAC50 Feb-24 10.25
Bonga BONGC00 0.16 BONGC40 Feb-24 12.35 Bonga-R’dam BONGC10 0.08 BONGC50 Feb-24 6.26
Europe Fields (PGA/PCR page 4202)

Azerbaijan
Azeri AZERC00 0.24 AZERC40 Feb-24 18.24 Ceyhan-Sarroch AZERC10 0.03 AZERC50 Feb-24 1.93
Kazakhstan
Tengiz TNGZC00 0.25 TNGZC40 Feb-24 19.68 Novo-R’dam TNGZC10 0.06 TNGZC50 Feb-24 4.62
Norway
Alvheim ALVHC00 0.10 ALVHC40 Feb-24 7.57 Alvheim-Le Havre ALVHC10 0.01 ALVHC50 Feb-24 0.85

Brage BRAGC00 0.94 BRAGC40 Feb-24 72.97 Sture - Brofjorden BRAGC10 0.01 BRAGC50 Feb-24 0.48
Edvard-Grieg EDVAC00 0.06 EDVAC40 Feb-24 4.33 Edvard Grieg-Sarroch EDVAC10 0.04 EDVAC50 Feb-24 2.97
Ekofisk EKFSC00 0.35 EKFSC40 Feb-24 27.25 Teesside-R’dam EKFSC10 0.01 EKFSC50 Feb-24 0.36
Embla EMBLC00 0.07 EMBLC40 Feb-24 5.39 Teesside-R’dam EMBLC10 0.01 EMBLC50 Feb-24 0.36
Fram FRAMC00 0.32 FRAMC40 Feb-24 24.45 Mongstad-R’dam FORTD10 0.01 FORTD50 Feb-24 0.84
Goliat GOLIC00 0.03 GOLIC40 Feb-24 2.09 Goliat-R’dam GOLIC10 0.02 GOLIC50 Feb-24 1.73
Grane GRANC00 0.06 GRANC40 Feb-24 4.41 Sture-Immingham GRANC10 0.01 GRANC50 Feb-24 0.63
Gullfaks GULLC00 0.18 GULLC40 Feb-24 14.30 Gullfaks-Brofjorden GULLC10 0.01 GULLC50 Feb-24 0.46
Heidrun HEIDC00 0.16 HEIDC40 Feb-24 12.41 Heidrun-R’dam HEIDC10 0.02 HEIDC50 Feb-24 1.22
Ivar-Aasen IVARC00 0.03 IVARC40 Feb-24 2.49 Ivar Aasen-R’dam IVARC10 0.01 IVARC50 Feb-24 0.80
Johan Sverdrup JSVRC00 0.02 JSVRC40 Feb-24 1.55 Mongstad-R’dam JSVRC10 0.01 JSVRC50 Feb-24 0.79
Oseberg OSEBC00 0.27 OSEBC40 Feb-24 20.61 Sture-R’dam OSEBC10 0.01 OSEBC50 Feb-24 0.69
Snorre SNORC00 0.18 SNORC40 Feb-24 13.87 Snorre-Statfjord SNORC10 0.00 SNORC50 Feb-24 0.14
Statfjord STATC00 4.41 STATC40 Feb-24 342.12 Statfjord-R’dam STATC10 0.01 STATC50 Feb-24 0.75
Troll TROLC00 0.26 TROLC40 Feb-24 19.92 Mongstad-R’dam TROLC10 0.01 TROLC50 Feb-24 0.79
Ula ULACC00 0.67 ULACC40 Feb-24 51.77 Teesside-R’dam ULACC10 0.01 ULACC50 Feb-24 0.37
Valhall VALHC00 0.07 VALHC40 Feb-24 5.16 Valhall-R’dam VALHC10 0.01 VALHC50 Feb-24 0.35
United Kingdom
Alwyn North ALWYC00 0.06 ALWYC40 Feb-24 4.48 Sullom Voe-R’dam ALWYC10 0.01 ALWYC50 Feb-24 0.81
Arbroath ARBRC00 0.11 ARBRC40 Feb-24 8.70 Houndpoint-R’dam ARBRC10 0.01 ARBRC50 Feb-24 0.55
Auk AUKCD00 0.24 AUKCC40 Feb-24 18.38 Teesside-R’dam AUKCC10 0.01 AUKCC50 Feb-24 0.37
Brae BRAEC00 0.18 BRAEC40 Feb-24 13.64 Houndpoint-R’dam BRAEC10 0.01 BRAEC50 Feb-24 0.56
Bruce BRUCC00 0.74 BRUCC40 Feb-24 57.10 Houndpoint-R’dam BRUCC10 0.01 BRUCC50 Feb-24 0.56
Buzzard BZRDC00 0.28 BZRDC40 Feb-24 21.28 Houndpoint-R’dam BZRDC10 0.01 BZRDC50 Feb-24 0.53
Captain CAPTC00 0.46 CAPTC40 Feb-24 35.79 Captain-Hamburg CAPTC10 0.01 CAPTC50 Feb-24 0.72
Catcher CATCC00 0.25 CATCC40 Feb-24 19.10 Catcher-R’dam CATCC10 0.01 CATCC50 Feb-24 0.48
Clair CLAIC00 0.13 CLAIC40 Feb-24 10.20 Clair-Stanlow CLAIC10 0.01 CLAIC50 Feb-24 0.91
Clyde CLYDC00 0.40 CLYDC40 Feb-24 31.31 Teesside-R’dam CLYDC10 0.01 CLYDC50 Feb-24 0.37
Cormorant CORMC00 0.85 CORMC40 Feb-24 65.96 Sullom Voe-R’dam CORMC10 0.01 CORMC50 Feb-24 0.82
Everest EVERC00 0.18 EVERC40 Feb-24 13.99 Houndpoint-R’dam EVERC10 0.01 EVERC50 Feb-24 0.55
Forties FORTC00 0.18 FORTC40 Feb-24 14.09 Houndpoint-R’dam FORTC10 0.01 FORTC50 Feb-24 0.56
Gannet GANNC00 0.23 GANNC40 Feb-24 17.79 Teesside-R’dam GANNC10 0.01 GANNC50 Feb-24 0.38
Golden-Eagle GOLDC00 0.33 GOLDC40 Feb-24 25.32 Golden Eagle-Grangemouth GOLDC10 0.00 GOLDC50 Feb-24 0.14
Joanne JOANC00 0.08 JOANC40 Feb-24 6.06 Teesside-R’dam JOANC10 0.01 JOANC50 Feb-24 0.37
Judy JUDYC00 0.34 JUDYC40 Feb-24 26.38 Teesside-R’dam JUDYC10 0.01 JUDYC50 Feb-24 0.38
Kraken KRAKC00 0.27 KRAKC40 Feb-24 20.90 Kraken-R’dam KRAKC10 0.01 KRAKC50 Feb-24 0.80
Magnus MAGNC00 0.15 MAGNC40 Feb-24 11.36 Sullom Voe-R’dam MAGNC10 0.01 MAGNC50 Feb-24 0.81
Mariner MARIC00 0.17 MARIC40 Feb-24 12.95 Mariner-Pascagoula MARIC10 0.09 MARIC50 Feb-24 6.85
Nelson NELSC00 0.12 NELSC40 Feb-24 9.63 Houndpoint-R’dam NELSC10 0.01 NELSC50 Feb-24 0.55
Ninian NINIC00 2.31 NINIC40 Feb-24 178.89 Sullom Voe-R’dam NINIC10 0.01 NINIC50 Feb-24 0.83
Schiehallion SCHIC00 0.20 SCHIC40 Feb-24 15.26 Schiellhallion-R’dam SCHIC10 0.01 SCHIC50 Feb-24 0.85
Scott SCOTC00 0.32 SCOTC40 Feb-24 25.13 Houndpoint-R’dam SCOTC10 0.01 SCOTC50 Feb-24 0.55
Tiffany TIFFC00 0.18 TIFFC40 Feb-24 13.86 Houndpoint-R’dam TIFFC10 0.01 TIFFC50 Feb-24 0.55
Toni TONIC00 0.15 TONIC40 Feb-24 11.50 Houndpoint-R’dam TONIC10 0.01 TONIC50 Feb-24 0.55

Russia
Samotlor SAMOC00 0.38 SAMOC40 Feb-24 29.15 Primorsk-R’dam SAMOC10 0.03 SAMOC50 Feb-24 1.97
North America Fields

Canada (PGA/PCR page 4204)
Bakken-Canada BAKKC00 0.46 BAKKC40 Feb-24 35.35 Canada-USMW BAKKC10 0.05 BAKKC50 Feb-24 3.91
Cold Lake CDLKC00 1.11 CDLKC40 Feb-24 85.76 W Canada-USMW CDLKC10 0.06 CDLKC50 Feb-24 4.86
CVE Christina Lake CVECC00 0.57 CVECC40 Feb-24 44.40 Canada-USMW CVECC10 0.06 CVECC50 Feb-24 4.86
Foster Creek FOSTC00 0.76 FOSTC40 Feb-24 59.10 Canada-USGC FOSTC10 0.07 FOSTC50 Feb-24 5.69
Hebron HEBRC00 0.13 HEBRC40 Feb-24 9.72 Hebron-Canada HEBRC10 0.12 HEBRC50 Feb-24 8.89
Hibernia HIBEC00 0.40 HIBEC40 Feb-24 30.85 Hibernia-Canada HIBEC10 0.13 HIBEC50 Feb-24 9.82
Jackfish JACKC00 0.90 JACKC40 Feb-24 69.90 Canada-USMW JACKC10 0.06 JACKC50 Feb-24 4.37
MEG Christina Lake MEGCC00 0.75 MEGCC40 Feb-24 58.37 Canada-USGC MEGCC10 0.08 MEGCC50 Feb-24 5.99
Montney Shale MONTC00 0.37 MONTC40 Feb-24 28.55 Montney-Canada MONTC10 0.01 MONTC50 Feb-24 0.81
Surmont SURMC00 0.86 SURMC40 Feb-24 66.69 Canada-USGC SURMC10 0.07 SURMC50 Feb-24 5.54
United States (PGA/PCR page 4205)
Bakken BAKNC00 0.28 BAKNC40 Feb-24 21.99 Beaumont-R’dam BAKNC10 0.08 BAKNC50 Feb-24 6.46
Denver-Julesburg DENVC00 0.37 DENVC40 Feb-24 28.33 Denver-USGC DENVC10 0.03 DENVC50 Feb-24 2.47
Eagle Ford EGFDC00 0.22 EGFDC40 Feb-24 17.03 Houston-Qingdao EGFDC10 0.17 EGFDC50 Feb-24 12.85
Mars-Ursa MRURC00 0.18 MRURC40 Feb-24 13.72 Mars-Qingdao MRURC10 0.18 MRURC50 Feb-24 14.04
Permian Delaware PRDLC00 0.23 PRDLC40 Feb-24 17.94 Corpus Christi-R’dam PRDLC10 0.08 PRDLC50 Feb-24 6.51
Permian Midland PRMDC00 0.29 PRMDC40 Feb-24 22.24 Corpus Christi-R’dam PRMDC10 0.09 PRMDC50 Feb-24 6.70
Prudhoe-Bay PRUDC00 0.43 PRUDC40 Feb-24 33.12 Alaska-USWC PRUDC10 0.04 PRUDC50 Feb-24 2.86
San-Joaquin SANMC00 2.27 SANMC40 Feb-24 175.97 San Joaquin-SoCal SANAC10 0.01 SANAC50 Feb-24 0.77
SCOOP-STACK SCOOC00 0.42 SCOOC40 Feb-24 32.38 Oklahoma-USGC SCOOC10 0.01 SCOOC50 Feb-24 1.01
Tahiti TAHIC00 0.21 TAHIC40 Feb-24 16.54 Tahiti-Yeosu TAHIC10 0.17 TAHIC50 Feb-24 13.15
Latin America Fields (PGA/PCR page 4203)

Brazil
Tupi TUPIC00 0.22 TUPIC40 Feb-24 17.21 Rio-Qingdao TUPIC10 0.20 TUPIC50 Feb-24 15.64
Colombia
Cusiana CUSIC00 0.30 CUSIC40 Feb-24 22.87 Tolu-Houston CUSIC10 0.03 CUSIC50 Feb-24 2.28
Ecuador
Sacha SACHC00 0.30 SACHC40 Feb-24 22.97 Esmeraldas-Long Beach SACHC10 0.06 SACHC50 Feb-24 4.57
Mexico
Cantarell CNTLC00 1.23 CNTLC40 Feb-24 95.21 Cantarell-Bilbao CNTLC10 0.09 CNTLC50 Feb-24 7.22
Venezuela
Orinoco Oil Belt ORINC00 4.04 ORINC40 Feb-24 312.78 Jose-Sikka ORINC10 0.18 ORINC50 Feb-24 14.29
Upstream CI values are modelled on a marginal basis and are published monthly. Carbon Intensity Premiums are assessed daily. Venezuela’s Orinoco Belt upstream marginal carbon intensity is calculated using only the Hamaca basin.
*Upstream marginal CI number is assessed from the field to the storage terminal. **Transport CI is calculated from storage terminal to refinery gate and for shipping routes assumes an Aframax vessel.
Details on the Platts methodology can be found at spglobal.com/commodityinsights/.

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Crude Oil Marketwire

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

Delivered - Asia spot crude assessments ($/barrel) (PGA page 2238)

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

Middle East spot assessments ($/barrel) (PGA page 2220)

Rates on the Arab Gulf to Far East route jumped

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Platts Middle East Sour Crude Bids, Offers, Ekofisk (CIF)

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

Offers: Freight Adjustment Factors

EXXONMOBIL* 25KB AT $86.44 (08:28:49) 10:30 London Time

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EXXONMOBIL* 25KB AT $86.42 (08:29:10) 16:30 London Time

UNIPEC* 25KB AT $86.41 (08:29:45) Northwest Europe (PPE page 1617)

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

these criteria. Ghana spot crude assessments (PGA page 1230)

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

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Meanwhile, Taiwan’s CPC issued a tender seeking

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higher day on day, consolidating a rise from the start of

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Bids, Offers, Trades Apr 24

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PLATTS BRENT DIFF: APR8-APR12 (JUN): SINOCHEM

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Reported spot cash transactions (PGA page 3)

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Reported spot cash transactions (PGA page 3)

03/19/2024 May Cash BFOE Done 87.33 100000 PetroIneos Gunvor

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

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

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

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

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

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Commodity Insights Analytics US Yields & Netback ($/barrel) (continued)

US Atlantic Coast (PGA page 0811)

Crack Yield Freight Crack Netback Crude Price Crack Margin

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

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

North America (PGA/PCR page 4206)

Europe (PGA/PCR page 4206)

Middle East (PGA/PCR page 4206)

Africa Fields (PGA/PCR page 4202)

Europe Fields (PGA/PCR page 4202)

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

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

North America Fields

Latin America Fields (PGA/PCR page 4203)