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Crude Oil Marketwire

Volume 45 / Issue 59 / March 22, 2024
Key benchmarks ($/barrel) Brent/WTI spreads and EFPs (PGA page 218) Market Commentary
Mid Change Mid Change
(PGA page 2210) Brent/WTI 1st AALAU00 4.73/4.75 4.740 -0.070
Dubai (May) PCAAT00 85.14–85.15 85.145 -0.865 Brent/WTI 2nd AALAV00 4.69/4.71 4.700 +0.030 Platts Middle East Sour Crude Daily Market
Dubai (Jun)
Dubai (Jul)
PCAAU00
PCAAV00
84.98–85.00
84.03–84.05
84.990
84.040
-0.810
-0.780
Brent/WTI 3rd AALAY00
Brent EFP (May) AAGVX00 -0.01/0.01
4.590
0.000
0.000
-0.100
Analysis
MEC (May) AAWSA00 85.14–85.15 85.145 -0.865 Brent EFP (Jun) AAGVY00 0.04/0.06 0.050 -0.040
MEC (Jun) AAWSB00 84.98–85.00 84.990 -0.810 Brent EFP (Jul) AAMVY00 0.050 -0.040 Lower allocations lend support to Basrah grades
MEC (Jul) AAWSC00 84.03–84.05 84.040 -0.780
Brent/Dubai (May) AAJMS00 0.38/0.39 0.385 +0.095
WTI EFP (Apr)
WTI EFP (May)
AAGVT00
AAGVU00
NA/NA
-0.01/0.01
NA
0.000
NANA
0.000
First sale from Canada’s TMX to China
(PGA page 1212) WTI EFP (Jun) AAGVV00 -0.01/0.01 0.000 0.000
Brent (Dated) PCAAS00 84.89–84.90 84.895 -0.280
Dated North Sea Light AAOFD00 84.89–84.90 84.895 -0.280 Cash differentials for heavy Middle East sour crude
Dated Brent (CIF) PCAKM00 86.245 -0.030 Middle East ($/barrel) grades were largely underpinned by lower allocations
Brent (May) PCAAQ00 85.50–85.52 85.510 -0.090
(PGA page 2210) Mid Change
Brent (Jun) PCAAR00 84.99–85.01 85.000 -0.050 Oman (May) PCABS00 85.14–85.15 85.145 -0.865 of Iraq’s Basrah Medium and Heavy grades amid
Brent (Jul) PCARR00 84.340 -0.090 Oman (Jun) 84.98–85.00 84.990 -0.810
Sulfur de-escalator AAUXL00 0.25 Oman (Jul)
AAHZF00
AAHZH00 84.03–84.05 84.040 -0.780
already reduced April allocations of heavy grades from
Oseberg QP (Mar)
Oseberg QP (Apr)
AAXDW00
AAXDX00
1.4562
1.1901
Upper Zakum (May) AAOUQ00 85.14–85.15 85.145 -0.865 Saudi Arabia, trade sources in the Asian sour crude
Murban (May) AAKNL00 85.17–85.21 85.190 -1.010
Ekofisk QP (Mar) AAXDY00 1.0549 Murban (Jun) MBNSA00 85.030 -0.960
market said March 22.
Ekofisk QP (Apr) AAXDZ00 0.9100
Troll QP (Mar) ATFNB00 1.6916
Murban (Jul) MBNSB00 84.080 -0.930 So far, several sources have indicated seeing less
Al Shaheen AAPEV00 85.13–85.17 85.150 -1.030
Troll QP (Apr) ATFNA00 1.4247 Spread vs Dubai volumes of both Basrah Medium and Heavy grades
(PGA page 210) Dubai DBDDC00 1.105 -0.085 (continued on page 3)
Platts AGS AGSAA00 82.980 -0.490 Oman DBDOC00 1.105 -0.085
WTI FOB USGC Decades Avg ADECA00 82.960 -0.470 Murban AARBZ00 1.150 -0.230
WTI (Apr) PCACG00 81.07–81.09 81.080 -0.400 Al Shaheen AAPEW00 1.06–1.16 1.110 -0.250 Contents
WTI (May) PCACH00 80.62–80.64 80.630 -0.440 Upper Zakum DBDUZ00 1.105 -0.085
WTI (Jun) AAGIT00 80.16–80.18 80.170 -0.470 Quality Premiums Platts Oil Mideast Sour Crude Convergences. ......................... 4
Light Houston Sweet AAXEW00 82.630 -0.350 Murban QP AASVA00 0.0000
Light Houston Sweet M2 AAYRY00 82.280 -0.440 Platts Middle East Sour Crude Bids, Offers, Trades..................... 4
LOOP Sour (Apr) AALSM01 80.730 -0.850 (PGA page 2658)
LOOP Sour (May) AALSM02 80.130 -0.540 Dubai Swap (Apr) AAHBM00 84.97–85.01 84.990 -0.810 Platts Dubai Derivatives Bids Summary. ............................... 7
LOOP Sour (Jun) AALSM03 80.170 -0.570 Dubai Swap (May) AAHBN00 84.02–84.06 84.040 -0.780
Bakken AAXPP00 78.190 -0.380 Dubai Swap (Jun) AAHBO00 83.21–83.25 83.230 -0.700 Platts Dubai Derivatives Offers Summary. ............................. 7
Eagle Ford Marker AAYAJ00 82.910 -0.440
Platts Dubai Derivatives Trades Summary.............................. 8
ACM* (Apr) AAQHN00 80.02–80.04 80.030 -0.850
ACM* (May) AAQHO00 79.42–79.44 79.430 -0.540 Platts Dubai Derivatives Exclusions. ................................... 8
ACM* (Jun) AAQHP00 79.46–79.48 79.470 -0.570
*Americas Crude Marker. Platts Asia Pacific Sweet Crude Daily Market Analysis. ................ 8
Forward Dated Brent ($/barrel) (PGA page 1250) Platts Asia Light Sweet Crude Bids, Offers, Trades. ................... 10
Mid Change Platts North Sea Crude Daily Market Analysis......................... 10
North Sea Dated strip AAKWH00 85.25–85.27 85.260 -0.040
Mediterranean Dated strip AALDF00 85.24–85.26 85.250 -0.060 Platts North Sea Dated Brent, BFOE, CFD Bids, Offers, Trades. ........ 12
33-63 Day Dated strip AALEJ00 85.01–85.02 85.015 -0.020
BTC Dated strip AAUFI00 85.27–85.29 85.280 -0.055 Platts WTI Midland Crude DAP Europe Bids, Offers, Trades............. 17
15-45 Day Dated strip AALGM00 85.28–85.30 85.290 -0.070
30-60 Day Dated strip AAXRK00 85.05–85.06 85.055 -0.020 Platts Mediterranean & Black Sea Sweet Crude Daily Commentary. ... 17
North Sea CIF Dtd strip AAHXE00 85.275 -0.045
23-63 Day Dated Strip ADBRA00 85.075 -0.020 Platts NWE and Med Urals Sour Crude Daily Market Analysis. ......... 17
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Crude Oil Marketwire March 22, 2024
Asia Pacific and Middle East crude assessments ($/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 79.91–79.95 79.930 -0.660 AAPAI00 -5.000 +0.050 AAPAH00 79.950 +0.040
Ichthys FC 48.9 ICFCA00 87.330 -0.310 ICFCB00 2.400 +0.400
DFC 56.82 ADFCA00 85.27–85.31 85.290 -0.780 ADFCB00 1.20/1.30 1.250 0.000 ADFCC00 0.360 -0.070 ADFCD00 85.310 -0.080
Qatar LSC 56.9 AARBB00 85.02–85.06 85.040 -0.780 AARBD00 0.95/1.05 1.000 0.000 AARBC00 0.110 -0.070 AARBA00 85.060 -0.080
South Pars 57.4 AARAV00 80.22–80.26 80.240 -0.780 AARAX00 -3.85/-3.75 -3.800 0.000 AARAW00 -4.690 -0.070 AARAU00 80.260 -0.080
Diff to ICP
Senipah 54.4 AAEOE00 76.91–76.95 76.930 -0.660 AAEOK00 -4.05/-3.95 -4.000 +0.050 AAPBE00 -8.000 +0.050 AAPBD00 76.950 +0.040
Light crude (PGA page 2214) (PGA page 2215)
Diff to ICP Diff to Asian Dated Brent
Cossack 47.7 PCAGZ00 87.26–87.30 87.280 -0.310 AAPAC00 2.350 +0.400 AAPAB00 87.300 +0.390
Tapis 45.2 PCACB00 88.91–88.95 88.930 -1.210 AAOZW00 4.000 -0.500 AAOZV00 88.950 -0.510
Belida 45.1 PCAFL00 81.56–81.60 81.580 -0.310 PCAFM00 -1.75/-1.65 -1.700 +0.200 AAPBQ00 -3.350 +0.400 AAPBP00 81.600 +0.390
Kutubu 44.3 PCAFJ00 83.81–83.85 83.830 -0.310 AAPAE00 -1.100 +0.400 AAPAD00 83.850 +0.390
Attaka 42.3 PCAAJ00 81.51–81.55 81.530 -0.310 PCAAK00 -1.75/-1.65 -1.700 +0.200 AAPBC00 -3.400 +0.400 AAPBB00 81.550 +0.390
Ardjuna 38 PCACQ00 85.21–85.25 85.230 -0.710 PCACR00 -0.70/-0.60 -0.650 0.000 AAPBG00 0.300 0.000 AAPBF00 85.250 -0.010
Banyu Urip 32 PCAFQ00 90.530 -0.710 PCAQQ00 2.800 0.000 AAPBU00 5.600 0.000 AAPBR00 90.550 -0.010
Diff to Dubai
Sakhalin Blend 45.5 AARBN00 78.12–78.16 78.140 -0.580 AARCN00 -5.95/-5.85 -5.900 +0.200 AARDN00 -6.790 +0.130 AAREN00 78.160 +0.120
ESPO M1 34.8 AARWF00 81.22–81.26 81.240 -0.780 AASEU00 -2.85/-2.75 -2.800 0.000
ESPO M2 34.8 AAWFE00 80.41–80.45 80.430 -0.700 AAWFG00 -2.85/-2.75 -2.800 0.000
Sokol 39.7 AASCJ00 81.02–81.06 81.040 -0.780 AASCK00 -3.05/-2.95 -3.000 0.000 AAPAO00 -3.890 -0.070 AAPAN00 81.060 -0.080
Kikeh 34.9 AAWUH00 93.06–93.10 93.080 -1.310 AAOZY00 8.150 -0.600 AAOZX00 93.100 -0.610
Miri Light 32.3 PCABQ00 92.61–92.65 92.630 -1.310 AAPAS00 7.700 -0.600 AAPAR00 92.650 -0.610
Labuan 32 PCABL00 95.51–95.55 95.530 -1.310 AAPAQ00 10.600 -0.600 AAPAP00 95.550 -0.610
Kimanis 38.6 AASCL00 95.930 -0.760 AASCM00 11.000 -0.050 AASCN00 95.950 -0.060
Medium crude (PGA page 2216) (PGA page 2217)
Diff to Asian Dated Brent
Su Tu Den 36.8 AARAR00 92.06–92.10 92.080 -0.610 AARAS00 7.150 +0.100 AARAQ00 92.100 +0.090
Bach Ho 40.7 PCAHY00 93.81–93.85 93.830 -0.610 AAPAK00 8.900 +0.100 AAPAJ00 93.850 +0.090
Nanhai 40 PCAFR00 81.66–81.70 81.680 -0.710 AAPAG00 -3.250 0.000 AAPAF00 81.700 -0.010
Nile Blend 33.9 AAPLC00 83.61–83.65 83.630 -0.660 AAPAM00 -1.300 +0.050 AAPAL00 83.650 +0.040
Daqing 32.2 PCAAZ00 84.56–84.60 84.580 -0.660 AAPAW00 -0.350 +0.050 AAPAV00 84.600 +0.040
Heavy crude (PGA page 2218) (PGA page 2219)
Diff to ICP Diff to Asian Dated Brent
Dar Blend 25 AARAB00 82.01–82.05 82.030 -0.710 AARAC00 -2.900 0.000 AARAA00 82.050 -0.010
Shengli 24.2 PCABY00 87.26–87.30 87.280 -0.710 AAPAY00 2.350 0.000 AAPAX00 87.300 -0.010
Duri 20.8 PCABA00 90.61–90.65 90.630 -0.710 PCABB00 2.80/2.90 2.850 0.000 AAPBM00 5.700 0.000 AAPBL00 90.650 -0.010
Vincent 18.3 AARAK00 95.080 -0.710 AARAL00 10.150 0.000 AARAJ00 95.100 -0.010
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 88.130 -1.300 WTMSD00 4.900 -0.600 WTMSB00 3.820 -0.660
WTI Midland (DES Yeosu) WTMYA00 88.630 -1.300 WTMYD00 5.400 -0.600 WTMYB00 4.320 -0.660
Brazil Delivered-Asia Spot Crudes
Tupi (DES Qingdao) LUQDA00 87.080 -0.700 LUQDD00 3.850 0.000 LUQDB00 2.770 -0.060
© 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 85.340 -1.010 DBDUL00 1.300 -0.230
Das Blend AAXOF00 84.42–84.46 84.440 -1.010 DBDDS00 0.400 -0.230
Qatar Land AAKNP00 84.13–84.17 84.150 -1.000 QALDA00 0.110 -0.220 AAKUJ00 -0.20/-0.10 -0.150 -0.100
Qatar Marine AAKNR00 84.48–84.52 84.500 -0.850 QAMDA00 0.460 -0.070 AAKUH00 -0.05/0.05 0.000 -0.050
Banoco Arab Medium AAKNT00 84.18–84.22 84.200 -0.850 AAKUD00 -0.95/-0.85 -0.900 0.000
Basrah Medium M1 BSMAM01 – 84.890 -0.810 BSMBM01 0.500 0.000
Basrah Medium M2 BSMAM02 – 83.850 -0.850 BSMBM02 0.300 0.000
Basrah Heavy M1 AALZC00 – 81.490 -0.810 AALZJ00 0.500 0.000
Basrah Heavy M2 AALZD00 – 80.450 -0.850 AALZK00 0.300 0.000
from Iraq’s SOMO compared with March, with the

Asian market parity prices ($/barrel) (PGA page 2280)
(Asia close) (London close)
cuts made to some equity producers. One equity Mid Change Mid Change
producer was heard to have not gone ahead with its Minas PCABO00 81.060 -0.850 AAPAZ00 81.080 -0.150
pre-allocation sale of an April-loading cargo, after it Cinta PCAAX00 70.480 -0.850 AAPBJ00 70.500 -0.150
Widuri PCAFE00 67.995 -0.780 AAPBN00 68.015 -0.080
received no allocations for the month. Cambay AMPPA00 87.020 -0.740
Eni was heard to have sold 1 million barrels of Ravva AMPPB00 91.325 -0.665
Rajasthan AMPPC00 86.735 -0.670
Basrah Medium earlier at a premium of 70 cents/b
to the grade’s OSP on an FOB basis. Eni also sold a
second cargo, 1 million barrels in size, at a premium of Asian Crude Indices ($/barrel) (PGA page 2206)
50 cents/b to the OSP, FOB, to a Chinese buyer. China’s 16:30 Singapore Interim Asian Close Diff to Dated Brent Final London Close
Asian Dated Brent (ADB) AAXPG00 85.105
CNOOC sold a Basrah Medium cargo for April loading at ADB Strip Asia AARBV00 84.930 AARBX00 84.950
a premium of 60-70 cents/b, FOB. ADB Strip Middle East AARBW00 84.930 AARBY00 84.950
ADB Strip M3 ADBS003 84.310
India’s HPCL was heard seeking Basrah Medium in
For definitions see http://www.platts.com/IM.Platts.Content/MethodologyReferences/MethodologySpecs/Crude-oil-methodology.pdf
a tender that closed March 21, but details around the
award were unclear.
Further out, the startup of Canada’s Trans Mountain
Expansion pipeline in the second quarter of 2024 though the Canadian pipeline. China’s Unipec was also The spread between prompt cash Murban and
would add competition to Middle Eastern barrels, with heard to have bought a cargo, but trade details were Dubai stood at a one-month low of 19 cents/b on
a Shanghai-based analyst saying the pipeline would be unclear. March 21, Platts data showed. The spread was last
a game changer to China as it could not only cut the A source with Sinochem confirmed that the cargo lower at 2 cents/b on Feb. 22.
voyage but also avoid the high freight — caused by the was bought and will be sent to their system refineries Platts is part of S&P Global Commodity Insights.
Red Sea tensions — to bring in the cheap heavy barrels for cracking, but did not elaborate on the price details
from Canada. or which of its refineries the cargo will be delivered to. Platts Mideast Sour Crude Daily Rationales &
This comes as China’s Sinochem was heard to have The continuous narrowing of the light/medium Exclusions
bought an Aframax cargo of high TAN, heavy sour spread spurred more buying of Murban on March Dubai Mo01 <PCAAT00> assessment rationale:
Access Western Blend, from Canada’s Suncor Energy at 21. Thailand’s PTT was heard to have bought four The May cash Dubai assessment March 22 took into
a discount of $5-$5.50/b to ICE August Brent futures 500,000-barrel cargoes of Murban at premiums in the consideration bids and offers for cash Dubai partials
on a delivered basis, market sources said. $1.30s/b to Dubai and at a premium in the $1.40s/b to that traded at $85.14-$85.15/b toward the end of the
The cargo would be one of the first to be shipped Dubai, FOB. Platts Market on Close assessment process.

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 22
Dated Brent Diff AAXEZ00 -0.37/-0.36 -0.365 -0.240
took into consideration the declaration of one Oman BNB AAVJA00 85.55–85.57 85.560 -0.090 AAVJB00 0.29/0.31 0.300 -0.050
Forties 84.89–84.90 84.895 -0.460 -0.37/-0.36 -0.365 -0.420
cargo on the convergence of Dubai partials. PCADJ00 AAGWZ00
Oseberg PCAEU00 88.34–88.35 88.345 -0.025 AAGXF00 3.08/3.09 3.085 +0.015
Platts is part of S&P Global Commodity Insights. Ekofisk PCADI00 87.76–87.78 87.770 -0.030 AAGXB00 2.50/2.52 2.510 +0.010
Troll 88.51–88.53 88.520 -0.025 3.25/3.27 3.260 +0.015
Exclusions: No market data was excluded from the AAWEX00 AAWEY00
FOB N Sea WTI Midland ALNDA00 85.250 0.000 ALNDB00 -0.010 +0.040
Middle East sour crude MOC. Statfjord PCAEE00 87.65–87.67 87.660 -0.040 AAGXD00 2.39/2.41 2.400 0.000
Flotta Gold PCACZ00 85.50–85.52 85.510 -0.340 AAGXH00 0.24/0.26 0.250 -0.300
Duc AAWEZ00 87.60–87.62 87.610 -0.040 AAWFL00 2.34/2.36 2.350 0.000
Platts Oil Mideast Sour Crude Grane Blend PCALA00 83.410 -0.040 PCALB00 -1.850 0.000
Convergences Johan Sverdrup
Statfjord (CIF)
AJSVA00
AASAS00 88.77–88.78
83.070 +0.035
88.775 -0.045
AJSVB00
AASAT00 3.49/3.51
-2.190
3.500
+0.075
0.000
Gullfaks (CIF) AASAU00 89.06–89.07 89.065 -0.045 AASAV00 3.78/3.80 3.790 0.000
Alvheim (CIF) ALVHA00 89.125 -0.045 ALVHB00 3.850 0.000
Platts Crude: Vitol declares a cargo of May Oman
Asgard (CIF) ASGCA00 87.525 -0.045 ASGCB00 2.250 0.000
crude to PetroChina following the convergence of 20 North Sea basket AAGIZ00 86.64–86.65 86.645 -0.150
North Sea Dated Strip 85.25–85.27 85.260 -0.040
partials in Platts cash Dubai. AAKWH00
European Sour Crude Index CSBEA00 83.294 -0.006 CSBEB00 -1.966 +0.034
Spread vs fwd CIF Dated Brent
Platts Middle East Sour Crude Bids, Offers, Dated Brent (CIF) AAVJG00 86.245 -0.030 AAVJF00 0.970 +0.015
Trades BNB (CIF)

Forties (CIF)
PCAKP00
PCAKR00
87.650 -0.095
86.405 -0.460
AAVJC00
AAHXC00
2.375
1.130
-0.050
-0.415
Oseberg (CIF) PCAKT00 89.640 -0.025 AAHXD00 4.365 +0.020
Ekofisk (CIF) PCAKV00 88.940 -0.035 AAHXB00 3.665 +0.010
Bids: Troll (CIF) AAXJO00 89.835 -0.025 AAXJN00 4.560 0.020
PLATTS DUBAI: MAY24: SHELL BIDS 25KB AT $85.10 WTI Midland (CIF) WMCRD00 86.290 +0.015 WMCRB00 1.015 +0.060
Johan Sverdrup (CIF) AJSWA00 84.355 +0.135 AJSWB00 -0.920 +0.180
AND TRADES DURING EXTENSION North Sea CIF Dated Strip AAHXE00 85.275 -0.045
PLATTS DUBAI: MAY24: BP BIDS 25KB AT $85.05
PLATTS DUBAI: MAY24: MERCURIA BIDS 25KB
AT $85.05 Grades demonstrating Dated Brent (relates to North Sea rationale: PGA page 1297)
PLATTS DUBAI: MAY24: MITSUI NO LONGER BIDS
Date FOB Dated Brent Grade Date FOB Dated Brent Grade
AFTER TRADE
PLATTS DUBAI: MAY24: PETROCHINA NO LONGER 01/04/2024 -0.3682 WTI Midland 14/04/2024 -0.3954 Forties
BIDS AFTER TRADE 02/04/2024 -0.3682 WTI Midland 15/04/2024 -0.4000 Forties
03/04/2024 -0.3682 WTI Midland 16/04/2024 -0.3900 Forties
PLATTS DUBAI: MAY24: TRAFIGURA NO LONGER 04/04/2024 -0.3500 Forties 17/04/2024 -0.3800 Forties
BIDS AFTER TRADE 05/04/2024 -0.3545 Forties 18/04/2024 -0.3700 Forties
06/04/2024 -0.3590 Forties 19/04/2024 -0.3600 Forties
Offers: 07/04/2024 -0.3636 Forties 20/04/2024 -0.3500 Forties
PLATTS DUBAI: MAY24: RELIANCE OFFERS 25KB AT 08/04/2024 -0.3681 Forties 21/04/2024 -0.3400 Forties
09/04/2024 -0.3727 Forties 22/04/2024 -0.3300 Forties
$85.15 AND TRADES DURING EXTENSION 10/04/2024 -0.3772 Forties 23/04/2024 -0.3200 Forties
PLATTS DUBAI: MAY24: TOTAL OFFERS 25KB 11/04/2024 -0.3818 Forties 24/04/2024 -0.3100 Forties
12/04/2024 -0.3863 Forties
AT $85.20 13/04/2024 -0.3909 Forties
PLATTS DUBAI: MAY24: IDEMITSU OFFERS 25KB
AT $85.25
PLATTS DUBAI: MAY24: BP OFFERS 25KB AT $85.30
PLATTS DUBAI: MAY24: GUNVOR OFFERS 25KB
AT $85.35

PLATTS DUBAI: MAY24: VITOL NO LONGER OFFERS Freight Adjustment Factors

($/barrel) Change
AFTER TRADE
Sullom Voe-Rotterdam FSVRM00 1.5942 +0.0195
PLATTS DUBAI: MAY24: UNIPEC NO LONGER Hound Point-Rotterdam FHPRM00 1.1482 +0.0138
Sture-Rotterdam FSTRM00 0.9872 +0.0116
OFFERS AFTER TRADE
Teesside-Rotterdam FTSRM00 0.8844 +0.0103
PLATTS DUBAI: MAY24: EXXONMOBIL NO LONGER Mongstad-Rotterdam FMGRM00 1.0052 +0.0119
North Sea-Rotterdam FSFRM00 1.0182 +0.0120
OFFERS AFTER TRADE
PLATTS DUBAI: MAY24: EQUINOR NO LONGER (%)
FAF Weighting FAFWA00 0.80
OFFERS AFTER TRADE
Trades:
PLATTS DUBAI: MAY24: TOTAL SELLS TO MITSUI*
European US Spot Crude Assessments ($/barrel) (PGA page 1238)
25KB AT $85.14 (08:29:07) WTI Midland (DAP Rotterdam) AWTIC00 86.800 +0.010 AWTID00 1.725 +0.030
PLATTS DUBAI: MAY24: VITOL SELLS TO WTI Midland (DAP Augusta) AWTIA00 87.450 +0.010 AWTIB00 2.375 +0.030
Eagle Ford 45 (DAP Rotterdam) AEFAC00 85.900 +0.010 AEFAD00 0.825 +0.030
PETROCHINA* 25KB AT $85.14 (08:29:11) Eagle Ford 45 (DAP Augusta) AEFAA00 86.550 +0.010 AEFAB00 1.475 +0.030
PLATTS DUBAI: MAY24: TOTAL SELLS TO MITSUI*
25KB AT $85.14 (08:29:14) Dated Brent/BFOE swaps ($/barrel) (PGA page 1214)
PLATTS DUBAI: MAY24: VITOL SELLS TO
Week Week Date Brent CFD* Mid Change Dated Brent swap Mid Change
PETROCHINA* 25KB AT $85.14 (08:29:15) CFD Week 1 (Jun) Mar 25-29 PCAKA00 0.00/0.02 0.010 +0.010 AAJNV00 85.00/85.02 85.010 -0.040
PLATTS DUBAI: MAY24: VITOL SELLS TO CFD Week 2 (Jun) Apr 01-05 PCAKC00 0.12/0.14 0.130 -0.020 AAJOS00 85.12/85.14 85.130 -0.070
PETROCHINA* 25KB AT $85.14 (08:29:19) CFD Week 3 (Jun) Apr 08-12 PCAKE00 0.19/0.21 0.200 -0.070 AAJOU00 85.19/85.21 85.200 -0.120
CFD Week 4 (Jun) Apr 15-19 PCAKG00 0.36/0.38 0.370 +0.040 AAJOW00 85.36/85.38 85.370 -0.010
PLATTS DUBAI: MAY24: VITOL SELLS TO MITSUI* CFD Week 5 (Jun) Apr 22-26 AAGLU00 0.37/0.39 0.380 -0.020 AAJPC00 85.37/85.39 85.380 -0.070
25KB AT $85.14 (08:29:20) CFD Week 6 (Jun) Apr 29-03 AAGLV00 0.28/0.30 0.290 -0.030 AAJPE00 85.28/85.30 85.290 -0.080
PLATTS DUBAI: MAY24: TOTAL SELLS TO SHELL* CFD Week 7 (Jun) May 06-10 AALCZ00 0.10/0.12 0.110 -0.060 AALAW00 85.10/85.12 85.110 -0.110
CFD Week 8 (Jun) May 13-17 AALDA00 -0.02/0.00 -0.010 -0.050 AALAX00 84.98/85.00 84.990 -0.100
25KB AT $85.10 (08:29:20)
Brent Swaps Weeks 1 to 8 are differentials to Brent Mo02 (Jun) PCAAR00 found on page 1.
PLATTS DUBAI: MAY24: VITOL SELLS TO MERCURIA*
25KB AT $85.14 (08:29:22)
Dated Brent/Brent Frontline Swaps (DFL) ($/barrel) (PPE page 1614)
Swaps Change DFL Change
PETROCHINA* 25KB AT $85.14 (08:29:24) Balance month* (Mar 24) BDLBM00 NA NA ABWFZ00 NA NA
PLATTS DUBAI: MAY24: VITOL SELLS TO MITSUI* Month 1 (Apr 24) BDLM001 85.320 +0.010 AAEAA00 0.400 +0.020
25KB AT $85.14 (08:29:26) Month 2 (May 24) BDLM002 84.950 -0.010 AAEAB00 0.690 +0.040
Month 3 (Jun 24) BDLM003 84.290 -0.060 AAEAC00 0.720 +0.040
PLATTS DUBAI: MAY24: EXXONMOBIL SELLS TO Month 4 (Jul 24) BDLM004 83.580 -0.090 AAEAD00 0.700 +0.030
PETROCHINA* 25KB AT $85.14 (08:29:28) *Balance month swaps are assessed from the 1st through the 20th of the month.
TRAFIGURA* 25KB AT $85.10 (08:29:28) Cash BFOE intraday assessments ($/barrel) (PGA page 1216)
PLATTS DUBAI: MAY24: TOTAL SELLS TO MITSUI* Cash BFOE Change Inter-Month Spread
25KB AT $85.14 (08:29:31) 10:30 London Time

BFOE M1 (May) PBCAAM1 85.750 -0.130
PLATTS DUBAI: MAY24: VITOL SELLS TO BFOE M2 (Jun) PBCAAM2 85.210 -0.150 May/Jun PBAM1M2 0.540
PETROCHINA* 25KB AT $85.14 (08:29:33) BFOE M3 (Jul) PBCAAM3 84.560 -0.150 Jun/Jul PBAM2M3 0.650
PLATTS DUBAI: MAY24: VITOL SELLS TO MERCURIA* 12:30 London Time
BFOE M1 (May) PBCABM1 85.980 +0.210
25KB AT $85.14 (08:29:35) BFOE M2 (Jun) PBCABM2 85.470 +0.200 May/Jun PBBM1M2 0.510
PLATTS DUBAI: MAY24: SHELL BUYS FROM VITOL* BFOE M3 (Jul) PBCABM3 84.800 +0.170 Jun/Jul PBBM2M3 0.670

25KB AT $85.15 (08:29:37) Cash BFOE intraday assessments ($/barrel) (PGA page 1216) (continued)
Cash BFOE Change Inter-Month Spread
14:30 London Time
PETROCHINA* 25KB AT $85.14 (08:29:38) BFOE M1 (May) PBCACM1 85.690 +0.120
PLATTS DUBAI: MAY24: EXXONMOBIL SELLS TO BFOE M2 (Jun) PBCACM2 85.160 +0.100 May/Jun PBCM1M2 0.530
MITSUI* 25KB AT $85.14 (08:29:39) BFOE M3 (Jul) PBCACM3 84.510 +0.070 Jun/Jul PBCM2M3 0.650
PLATTS DUBAI: MAY24: TRAFIGURA BUYS FROM 16:30 London Time

BFOE M1 (May) PCAAQ00 85.510 -0.090
EXXONMOBIL* 25KB AT $85.15 (08:29:40) BFOE M2 (Jun) PCAAR00 85.000 -0.050
PLATTS DUBAI: MAY24: SHELL BUYS FROM BFOE M3 (Jul) PCARR00 84.340 -0.090
EQUINOR* 25KB AT $85.20 (08:29:42) 19:30 London Time
BFOE M1 (May) PBCADM1 NA –
BFOE M2 (Jun) PBCADM2 NA – May/Jun PBDM1M2 NA
PETROCHINA* 25KB AT $85.14 (08:29:43) BFOE M3 (Jul) PBCADM3 NA – Jun/Jul PBDM2M3 NA
PLATTS DUBAI: MAY24: SHELL BUYS FROM VITOL*
25KB AT $85.15 (08:29:43) Urals/ESPO spot assessments ($/barrel) (PGA page 1220)
PLATTS DUBAI: MAY24: SHELL BUYS FROM Mid Change Spread vs fwd Dated Brent Mid Change
UNIPEC* 25KB AT $85.20 (08:29:44) Urals (Rotterdam) PCAFW00 71.69–71.73 71.710 -0.160 AAGXJ00 -13.55/-13.53 -13.540 -0.100
Urals (Mediterranean) PCACE00 72.71–72.74 72.725 -0.360 AAGXX00 -12.53/-12.52 -12.525 -0.300
PLATTS DUBAI: MAY24: TOTAL SELLS TO MITSUI* Urals FOB Novo Suez AAGZS00 68.23–68.27 68.250 -0.160 AAHPH00 -17.01/-16.99 -17.000 -0.100
Urals FOB Novo Afra AAOTH00 67.83–67.87 67.850 -0.160 AAOTI00 -17.41/-17.39 -17.400 -0.100
25KB AT $85.14 (08:29:45) Urals (Ex-Baltic) AAGZT00 68.23–68.27 68.250 -0.160 AAHPI00 -17.01/-16.99 -17.000 -0.100
PLATTS DUBAI: MAY24: VITOL SELLS TO SHELL* Urals (Primorsk) AAWVH00 68.23–68.27 68.250 -0.160 AAWVI00 -17.01/-16.99 -17.000 -0.100
Urals RCMB (Recombined) AALIN00 72.36–72.38 72.370 -0.580
25KB AT $85.10 (08:29:45) ESPO (FOB Kozmino) AARWD00 81.28–81.30 81.290 -0.060 AARWE00 -3.67/-3.65 -3.660 -0.050
KEBCO (CIF Augusta) KBCOA00 85.450 +0.140 KBCOB00 0.200 +0.200
PLATTS DUBAI: MAY24: TRAFIGURA BUYS FROM KEBCO (CIF Rotterdam) KBCOC00 85.450 +0.140 KBCOD00 0.200 +0.200
EXXONMOBIL* 25KB AT $85.15 (08:29:47) KEBCO (FOB Novo) KBCOE00 80.575 +0.340 KBCOF00 -4.675 +0.400
KEBCO (FOB Ust-Luga) KBCOG00 81.865 +0.140 KBCOH00 -3.385 +0.200
PLATTS DUBAI: MAY24: VITOL SELLS TO Urals (DAP India) DWCUA00 81.620 -0.090 DWCUB00 -3.700 -0.100
PETROCHINA* 25KB AT $85.14 (08:29:48)** KEBCO/Russian Urals AKEBA00 12.725 +0.500
Spread vs Dubai
PLATTS DUBAI: MAY24: VITOL SELLS TO MITSUI* Urals (DAP India) vs M1 AURLA00 -3.400 -0.050
25KB AT $85.14 (08:29:49) Urals (DAP India) vs M2 AURLB00 -2.470 -0.030
PLATTS DUBAI: MAY24: EXXONMOBIL SELLS TO Number of days
Observed Delivery Factor AODFA00 -4
TRAFIGURA* 25KB AT $85.10 (08:29:51)
PETROCHINA* 25KB AT $85.14 (08:29:52) Urals Med/NWE CFD assessments ($/barrel)

Urals CFD Mid Change
Mediterranean (PPE page 1617)
25KB AT $85.15 (08:29:54)
Urals Med CFD (Apr) AAMDU00 -12.53/-12.52 -12.525 -0.300
PLATTS DUBAI: MAY24: SHELL BUYS FROM Urals Med CFD (May) AAMEA00 -12.53/-12.52 -12.525 -0.300
EXXONMOBIL* 25KB AT $85.15 (08:29:55) Urals Med CFD (Jun) UMCM003 -12.53/-12.52 -12.525 -0.300
PLATTS DUBAI: MAY24: VITOL SELLS TO MITSUI* Northwest Europe (PPE page 1617)
Urals NWE CFD (Apr) UNCM001 -13.55/-13.53 -13.540 -0.100
25KB AT $85.14 (08:29:55) Urals NWE CFD (May) UNCM002 -13.55/-13.53 -13.540 -0.100
PLATTS DUBAI: MAY24: SHELL BUYS FROM Urals NWE CFD (Jun) UNCM003 -13.55/-13.53 -13.540 -0.100
UNIPEC* 25KB AT $85.15 (08:29:55) Mediterranean (PPE page 1617)
CPC Blend CFD (Apr) AAOFX00 -3.100 0.000
PLATTS DUBAI: MAY24: EXXONMOBIL SELLS TO CPC Blend CFD (May) AAOFY00 -2.950 0.000
PETROCHINA* 25KB AT $85.14 (08:29:55) CPC Blend CFD (Jun) AAOFZ00 -2.950 0.000

PETROCHINA* 25KB AT $85.14 (08:29:59) Mediterranean spot crude assessments ($/barrel)

Azeri and BTC (PGA page 1222)
25KB AT $85.15 (08:30:00) Azeri Lt CIF AAGZX00 87.15–87.18 87.165 -0.005 AAHPM00 1.88/1.89 1.885 +0.050
PLATTS DUBAI: MAY24: PETROCHINA BUYS FROM Azeri Lt FOB Ceyhan Suez AAUFM00 85.94–85.98 85.960 -0.065 AAUFN00 0.67/0.69 0.680 -0.010
Azeri Lt FOB Ceyhan Afra AAUFK00 85.27–85.31 85.290 -0.005 AAUFL00 0.00/0.02 0.010 +0.050
UNIPEC* 25KB AT $85.15 (08:30:00) Azeri Lt FOB Supsa AATHM00 84.07–84.10 84.085 +0.190 AATHN00 -1.20/-1.19 -1.195 +0.245
PLATTS DUBAI: MAY24: VITOL SELLS TO MITSUI* BTC FOB Ceyhan AAUFH00 85.61–85.64 85.625 -0.035 AAUFJ00 0.34/0.35 0.345 +0.020
25KB AT $85.14 (08:30:00) Black Sea (PGA page 1220)
Siberian Light CIF AAGZW00 74.71–74.74 74.725 -0.360 AAHPK00 -10.53/-10.52 -10.525 -0.300
PLATTS DUBAI: MAY24: PETROCHINA BUYS FROM CPC Blend CIF AAGZU00 82.01–82.05 82.030 -0.055 AAHPL00 -3.26/-3.24 -3.250 0.000
RELIANCE* 25KB AT $85.15 (08:30:01) CPC Blend FOB Suez AALVX00 78.84–78.87 78.855 +0.075 AALVZ00 -6.43/-6.42 -6.425 +0.130
CPC Blend FOB Afra AAOFV00 77.51–77.55 77.530 +0.130 AAOFW00 -7.76/-7.74 -7.750 +0.185
PLATTS DUBAI: MAY24: VITOL SELLS TO SHELL* Additional War Risk Premium AWARA00 1.550 0.000
25KB AT $85.10 (08:30:03) Middle East & North Africa (PGA page 1234)
**Platts Crude: Vitol declares a cargo of May Oman Suez Blend PCACA00 84.88–84.92 84.900 -0.060 AAGYD00 -0.36/-0.34 -0.350 0.000
Es Sider PCACO00 85.16–85.20 85.180 -0.055 AAGYH00 -0.11/-0.09 -0.100 0.000
crude to PetroChina following the convergence of 20 Kirkuk AAEJD00 83.93–83.97 83.950 -0.060 AAGYF00 -1.31/-1.29 -1.300 0.000
partials in Platts cash Dubai. Iranian Light FOB Kharg Island (Med) AILKA00 83.150 -0.080 AILKB00 -2.100 -0.020
Iranian Heavy FOB Kharg Island (Med) AIHKA00 81.150 -0.080 AIHKB00 -4.100 -0.020
This assessment commentary applies to the Saharan Blend AAGZY00 85.91–85.95 85.930 -0.055 AAHPN00 0.64/0.66 0.650 0.000
following market data codes: Dubai M1 <PCAAT00>,
Oman M1 <PCABS00>
Platts Dubai Derivatives Bids Summary West African spot crude assessments ($/barrel) (PGA page 1230)
WAF Index AWAFA00 88.630 -0.045 AWAFB00 3.575 -0.025
BIDS ON CLOSE Nigeria Spot Crude Assessments
—————————— Agbami AAQZB00 83.94–83.97 83.955 -0.020 AAQZC00 -1.11/-1.09 -1.100 0.000
Akpo PCNGA00 84.14–84.17 84.155 -0.020 PCNGB00 -0.91/-0.89 -0.900 0.000
NO BIDS REPORTED Bonga PCNGC00 89.64–89.67 89.655 -0.020 PCNGD00 4.59/4.61 4.600 0.000
WITHDRAWALS Bonny Light PCAIC00 87.29–87.32 87.305 -0.070 AAGXL00 2.24/2.26 2.250 -0.050
Brass River AAEJB00 85.84–85.87 85.855 -0.020 AAGXV00 0.79/0.81 0.800 0.000
—————————— Egina AFONA00 92.405 -0.020 AFONB00 7.350 0.000
NO WITHDRAWALS REPORTED Erha AAXUO00 89.655 -0.020 AAXUP00 4.600 0.000
Escravos AAEIZ00 89.54–89.57 89.555 -0.020 AAGXR00 4.49/4.51 4.500 0.000
Platts’ End-of-Day assessments for Dubai Forcados PCABC00 89.64–89.67 89.655 -0.020 AAGXP00 4.59/4.61 4.600 0.000
derivatives prices can be found on PPA2606. Qua Iboe PCAID00 87.89–87.92 87.905 -0.070 AAGXN00 2.84/2.86 2.850 -0.050
Usan AAXUQ00 82.455 -0.020 AAXUR00 -2.600 0.000
Platts Oil Paper Bids, Offers and Trade Page Index
Angola spot crude assessments ($/barrel) (PGA page 1232)
found on <PGA4000> Cabinda PCAFD00 85.89–85.92 85.905 -0.070 AAGXT00 0.84/0.86 0.850 -0.050
Platts has defined standards for entities it Dalia AAQYX00 84.04–84.07 84.055 -0.070 AAQYY00 -1.01/-0.99 -1.000 -0.050
Girassol AASNL00 86.94–86.97 86.955 -0.070 AASJD00 1.89/1.91 1.900 -0.050
considers to be related and verifies through a variety of Hungo AASLJ00 83.54–83.57 83.555 -0.070 AASJF00 -1.51/-1.49 -1.500 -0.050
inputs whether counterparties in reported trades meet Kissanje AASLK00 84.19–84.22 84.205 -0.070 AASJE00 -0.86/-0.84 -0.850 -0.050
Nemba AAQYZ00 84.39–84.42 84.405 -0.070 AAQZA00 -0.66/-0.64 -0.650 -0.050
these criteria. Pazflor PCNGG00 84.04–84.07 84.055 -0.070 PCNGH00 -1.01/-0.99 -1.000 -0.050
Plutonio PCNGI00 83.74–83.77 83.755 -0.070 PCNGJ00 -1.31/-1.29 -1.300 -0.050
Platts Dubai Derivatives Offers Summary Ghana spot crude assessments (PGA page 1230)
Jubilee AAXUS00 85.905 -0.020 AAXUT00 0.850 0.000
Republic of Congo spot crude assessments
OFFERS ON CLOSE Djeno PCNGE00 82.94–82.97 82.955 -0.020 PCNGF00 -2.11/-2.09 -2.100 0.000
—————————— Chad spot crude assessments
Doba AAXUU00 80.855 -0.020 AAXUV00 -4.200 0.000
NO OFFERS REPORTED

WITHDRAWALS West Africa market parity prices ($/barrel) (PGA page 1270)
——————————
Abo Blend AAXTL00 87.285 -0.065 ABOOM00 2.230 -0.045
NO WITHDRAWALS REPORTED Aje APIRP00 87.145 +0.070 APIRA00 2.090 +0.090
Amenam Blend AAXTI00 86.285 +0.035 AMENA00 1.230 +0.055
Platts’ End-of-Day assessments for Dubai
Antan Blend APIRQ00 88.350 +0.015 APIRB00 3.295 +0.035
derivatives prices can be found on PPA2606. Asaramatoru AAXTV00 87.390 +0.060 ASARA00 2.335 +0.080
CJ Blend APIRR00 88.925 -0.050 APIRC00 3.870 -0.030
EA Blend AAXTJ00 88.575 -0.090 AEABL00 3.520 -0.070
found on <PGA4000> Ebok APIRS00 83.415 -0.105 APIRD00 -1.640 -0.085
Eremor APIRT00 85.425 -0.060 APIRE00 0.370 -0.040
Platts has defined standards for entities it
Ima APIRU00 87.720 +0.550 APIRF00 2.665 +0.570
considers to be related and verifies through a variety of Jones Creek Blend APIRV00 85.850 -0.115 APIRG00 0.795 -0.095
Okono Blend APIRW00 88.005 +0.020 APIRH00 2.950 +0.040
inputs whether counterparties in reported trades meet
Okoro APIRX00 87.525 -0.005 APIRI00 2.470 +0.015
these criteria. Okwori APIRY00 89.230 -0.050 APIRJ00 4.175 -0.030
Otakikpo APIRZ00 86.515 +0.160 APIRK00 1.460 +0.180
Oyo APRIA00 86.915 -0.055 APIRL00 1.860 -0.035
Platts Dubai Derivatives Trades Summary Pennington APRIB00 86.420 -0.075 APIRM00 1.365 -0.055
Rabi Light ARABA00 84.570 +0.025 ARABB00 -0.485 +0.045
Sankofa APRIC00 84.510 -0.065 APIRN00 -0.545 -0.045
TRADES SUMMARY TEN AAXTW00 85.710 -0.015 ATENM00 0.655 +0.005
Ukpokiti APRID00 87.720 +0.040 APIRO00 2.665 +0.060
——————————
Yoho Light AAXTK00 88.485 +0.090 AYOHO00 3.430 +0.110
NO TRADES REPORTED Zafiro AAXTU00 88.355 -0.020 AZAFB00 3.300 0.000
Platts’ End-of-Day assessments for Dubai
derivatives prices can be found on PPA2606.
US West Coast Crude Assessments ($/barrel) (PGA page 214)
Mid Change
found on <PGA4000> Spread to NYMEX WTI CMA Mid Change
Platts has defined standards for entities it ANS/Long Beach PCAAD00 85.16–85.20 85.180 -0.450 AAGWX00 5.18/5.20 5.190 +0.030
considers to be related and verifies through a variety of Spread to ICE BRENT CMA
ANS/Long Beach AANSA00 1.052 +0.007
inputs whether counterparties in reported trades meet
these criteria.
US spot crude assessments ($/barrel) (PGA pages 210 & 214)
Platts Dubai Derivatives Exclusions Mid Change
Mars (Apr) AAMBR00 80.82–80.84 80.830 -0.850
Mars (May) AAMBU00 80.22–80.24 80.230 -0.540
Exclusions: Mars (Jun) AAMBX00 80.26–80.28 80.270 -0.570
No market data was excluded from the March 22, Mars/WTI (Apr) AAGWH00 -0.26/-0.24 -0.250 -0.450
2024 Dubai derivatives assessment process. Mars/WTI (May) AAKTH00 -0.41/-0.39 -0.400 -0.100
Mars/WTI (Jun) AAMBO00 0.09/0.11 0.100 -0.100
LOOP/WTI (Apr) AALOM01 -0.350 -0.450
Platts Asia Pacific Sweet Crude Daily LOOP/WTI (May) AALOM02 -0.500 -0.100
Market Analysis LOOP/WTI (Jun)

LOOP/Mars (Apr)
AALOM03
AALPM01
0.000
-0.100
-0.100
0.000
LOOP/Mars (May) AALPM02 -0.100 0.000
Trade emerges for Malaysia’s Labuan crude LOOP/Mars (Jun) AALPM03 -0.100 0.000
WTI-Delta AAEJK00 0.57/0.59 0.580 +0.050
Softening levels seen for WTI Midland crude into Asia P-Plus WTI PCACI00 3.95/3.97 3.960 +0.050
P-5 WTI* AAFEN00 77.160 -0.430
The Asia-Pacific sweet crude market on March 22 *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
saw a fresh trade emerge for Malaysian barrels loading database.

over May. US spot crude assessments (continued)

Mid Change Spread vs 1st line WTI Mid Change
Price details have emerged for Malaysia’s medium
WTI (Midland) PCACJ00 82.37–82.39 82.380 -0.350 AAGVZ00 1.29/1.31 1.300 +0.050
sweet Kikeh crude cargo held by ConocoPhillips. WTS (1st month) PCACK00 81.57–81.59 81.580 -0.350 AAGWB00 0.49/0.51 0.500 +0.050
The cargo, loading over May 3-7, was heard sold at a WTI MEH AAYRG00 82.630 -0.350 AAYRH00 1.550 +0.050
Bonito PCAIE00 81.07–81.09 81.080 -0.850 AAGWF00 -0.01/0.01 0.000 -0.450
premium in the $7s/b to the Platts Dated Brent crude SGC AASOI00 80.67–80.69 80.680 -0.850 AASOJ00 -0.41/-0.39 -0.400 -0.450
assessments, FOB. Poseidon AABHK00 80.02–80.04 80.030 -0.850 AAGWL00 -1.06/-1.04 -1.050 -0.450
LLS (1st month) PCABN00 84.87–84.89 84.880 -0.400 AAGWN00 3.79/3.81 3.800 0.000
Meanwhile, Malaysia’s Petco sold a May-loading
HLS (1st month) PCABD00 83.82–83.84 83.830 -0.400 AAGWP00 2.74/2.76 2.750 0.000
cargo of Labuan crude at a premium in the $9s/b to Wyoming Sweet PCACM00 78.67–78.69 78.680 -0.400 AAGWR00 -2.41/-2.39 -2.400 0.000
Dated Brent on an FOB basis, sources said. Further Thunder Horse AAWZK00 82.97–82.99 82.980 -0.850 AAWZL00 1.89/1.91 1.900 -0.450
Spread vs 2nd line WTI
details of the trade were not yet available. WTI MEH (2nd month) AAXXE00 82.280 -0.440 AAYYA00 1.650 0.000
“The price levels indicate softness in the market,” WTI Midland (2nd month) AAYZA00 81.980 -0.390 AAXXF00 1.350 +0.050
an Asia-based crude trader said. WTS (2nd month) AAURG00 80.72–80.74 80.730 -0.440 AAURH00 0.09/0.11 0.100 0.000
LLS (2nd month) AAURC00 83.12–83.14 83.130 -0.390 AAURD00 2.49/2.51 2.500 +0.050
“Gasoil cracks have fallen, and there are a few major HLS (2nd month) AAURE00 82.72–82.74 82.730 -0.440 AAURF00 2.09/2.11 2.100 0.000
refineries in the region undergoing maintenance - Spread vs NYMEX WTI CMA
Bangchak, Petron and Taiyo,” another trader said. WCS ex-Cushing AAWTY00 73.58–73.60 73.590 -0.680 AAWTZ00 -6.41/-6.39 -6.400 -0.200
WCS ex-Nederland AAYAY00 74.490 -0.680 AAYAX00 -5.500 -0.200
The second-month gasoil and jet crack spreads Bakken Williston AAXPP00 78.190 -0.380 AASRX00 -1.800 +0.100
averaged $21.19/b and $19.38/b, respectively, at the Bakken Guernsey AASRR00 78.68–78.70 78.690 -0.380 AASRV00 -1.31/-1.29 -1.300 +0.100
Bakken Clearbrook AASRU00 79.33–79.35 79.340 -0.380 AASRW00 -0.66/-0.64 -0.650 +0.100
March 21 Asian close, compared to the February Bakken USGC Pipe ABAKA00 81.890 -0.430 ABAKB00 1.900 +0.050
averages of $23.93/b and $21.73/b, S&P Global FOB USGC FOB USGC Spread vs NYMEX WTI Strip
data showed. Platts AGS AGSAA00 82.980 -0.490 AGSAC00 2.580 -0.020
Bakken ABAKC00 82.980 -0.490 ABAKD00 2.580 -0.020
In the delivered crude markets, softer levels were Eagle Ford Crude AAYAT00 81.980 -0.490 AAYAU00 1.580 -0.020
seen for US WTI Midland crude into Asia. Eagle Ford Condensate AAYAR00 80.480 -0.490 AAYAS00 0.080 -0.020
WTI AAYBA00 82.980 -0.490 AAYAZ00 2.580 -0.020
Trading house Vitol was heard to have sold 2 million
WTI FOB USGC vs WTI MEH (by decade)
barrels of WTI Midland for June-delivery, at a premium WTI FOB USGC First Decade ADECB00 82.930 -0.250 ADECD00 0.300 +0.100
around $3.40/b to May Dated Brent on a delivered WTI FOB USGC Second Decade ADECE00 82.980 -0.600 ADECG00 0.350 -0.250
WTI FOB USGC Third Decade ADECH00 82.980 -0.550 ADECJ00 0.350 -0.200
basis into Asia. WTI FOB USGC Decades Average ADECA00 82.960 -0.470
“Prices of WTI Midland are quite volatile, it could FOB USGC Spread vs Dated Brent Strip WTI FOB USGC vs Dated Brent Basis (by decade)
be due to lower prices on FOB basis on the other Platts AGS AGSAB00 -2.240 -0.070 ADECC00 -2.300 +0.140
Bakken ABAKE00 -2.240 -0.070 ADECF00 -2.250 -0.210
continent,” said a trader. Eagle Ford Crude AEFCA00 -3.240 -0.070 ADECI00 -2.250 -0.160
Previously, June-delivery WTI Midland crude was Eagle Ford Condensate AEFCB00 -4.740 -0.070
WTI AWTUA00 -2.240 -0.070
sold to Taiwan’s CPC, at around May Dubai plus low
Global Benchmarks at US Close WTI FOB USGC vs ICE Brent Basis (by decade)
$4s/b, CFR Taiwan, according to a trade source. Americas Dated Brent AAQBF00 84.820–84.840 84.830 -0.630 ADECK00 -1.900 +0.160
ADECL00 -1.850 -0.190
Platts Asia Light Sweet Crude Daily Rationale & ADECM00 -1.850 -0.140
Exclusions
ESPO FOB Kozmino Mo01 Spore vs Dubai Mo01
<AASEU00> assessment rationale: The ESPO M1 May
assessment March 22 took into consideration the
latest trade indications heard in the broader market.
Platts is part of S&P Global Commodity Insights.

Exclusions: No market data was excluded from the US domestic crude assessments London close ($/barrel) (PGA page 1240)
Spread to
Asia-Pacific crude Platts Market on Close assessment
Mid Change NYMEX light sweet crude Mid Change
process. WTI (Apr) AAQAR00 81.21–81.23 81.220 +0.020 AAQAS00 NA/NA NA NANA
WTI (May) AAQAT00 80.76–80.78 80.770 -0.020 AAQAU00 -0.01/0.01 0.000 0.000
WTI (Jun) AAQAV00 80.29–80.31 80.300 -0.080 AAQAW00 -0.01/0.01 0.000 0.000
Platts Asia Light Sweet Crude Bids, Offers, Spread to
Trades
WTI MEH (Apr) AAYRZ00 82.770 +0.070
same-month cash WTI
AAYTA00
Mid
1.550
Change
+0.050
WTI MEH (May) AAXYD00 82.420 -0.020 AAYWA00 1.650 0.000
LLS (Apr) 85.01–85.03 85.020 +0.020 3.79/3.81 3.800 0.000
Bids: NIL AAQBB00 AAQBC00
LLS (May) AAQBD00 83.26–83.28 83.270 +0.030 AAQBE00 2.49/2.51 2.500 +0.050
Offers: NIL MARS (Apr) AAQAX00 80.96–80.98 80.970 -0.430 AAQAY00 -0.26/-0.24 -0.250 -0.450
MARS (May) 80.36–80.38 80.370 -0.120 -0.41/-0.39 -0.400 -0.100
Trades: NIL AAQAZ00 AAQBA00
This assessment commentary applies to the

following market data code: ESPO M1 vs Dubai M2
<AASEU00>
Americas close ($/barrel) (PGA page 210)

Platts North Sea Crude Daily Market
Mid Change
Analysis Americas Dated Brent AAQBF00 84.82–84.84 84.830 -0.630
Slack physical fundamentals close the week Americas Dated Brent reflects market value for Dated Brent at 2:30pm Eastern Time.
Troll cargo nominated into BFOE forward chains
Physical fundamentals slackened as the North Sea US crude assessments Singapore close ($/barrel) (PGA page 2208)
market ended the week March 22, with sellers battling Mid Change
muted demand. LOOP Sour (Apr) AAZDA00 81.270 -0.820
LOOP Sour (May) AAZDB00 80.360 -0.920
A retreat in differentials across premiere North Sea LLS (Apr) AAZDC00 84.970 +0.180
grades accelerated on the day, reflecting a broader LLS (May) AAZDD00 83.210 -0.770
Southern Green Canyon AAZDE00 81.220 -0.820
Atlantic Basin complex increasingly well served for WTI MEH (Apr) AAZDF00 82.670 -1.020
the light sweet grades as refineries lay dormant under WTI MEH (May) AAZDG00 82.410 -0.820
maintenance.
Prompt weakness was reflected by an ongoing
contango in the Brent CFD market where traders
increasingly traded around gathering weakness at the CFR North Asia Assessments Singapore Close ($/barrel) (PGA page 2202)
front of the curve through the week. Mid Change
Downstream, a seasonal advance in gasoline cracks Dubai CFR North Asia PCAQA00 87.385 -0.945
lent some support to an otherwise soft market across Oman CFR North Asia PCAQJ00 87.365 -0.955
Upper Zakum CFR North Asia PCAQB00 87.335 -0.945
lighter crudes. European gasoline cracks eclipsed jet Qatar Marine CFR North Asia PCAQC00 86.710 -0.930
fuel late in the week for the first time since July 2023 Murban CFR North Asia PCAQE00 87.300 -1.080
Basrah Medium CFR North Asia BASNA00 86.110 -0.930
and stood at near parity with gasoil amid relative ESPO CFR North Asia PCAQD00 83.570 -0.780
weakness in the middle distillates complex. Forties CFR North Asia PCAQF00 89.195 -1.425
Dalia CFR North Asia PCAQG00 87.835 -0.955
Meanwhile, in the forward market, one Troll cargo WTI MEH CFR North Asia PCAQH00 88.470 -1.070
loading April 24-26 was heard to have been nominated LOOP Sour CFR North Asia PCAQI00 85.960 -0.880

into BFOE forward chains late in the week , according Canadian spot crude cargo assessments ($/barrel) (PGA page 230)
to market participants, the first for several months.
Hebron AHEBA00 80.915 -0.320 AHEBC00 -4.100 -0.300
Two WTI Midland cargoes and one Brent Blend and Terra Nova AAJUH00 81.55–81.58 81.565 -0.020 AAJUJ00 -3.46/-3.44 -3.450 0.000
Hibernia 84.25–84.28 84.265 -0.320 -0.76/-0.74 -0.750 -0.300
Forties cargo each were also heard running in chains AAJKK00 AAJKM00
White Rose AAVJX00 85.10–85.13 85.115 -0.320 AAVJY00 0.09/0.11 0.100 -0.300
on their final day of eligibility through the afternoon. The published spreads for Canadian cargo assessments reflect the market value at which these grades are trading versus Dated Brent around loading time. The
It is generally rare to see Troll nominated into spreads and fixed price assessments reflect a typical forward loading window of 33-63 days forward. For further explanation see www.platts.com.
forward chains given it is ordinarily one of the higher-
Canadian spot crude assessments ($/barrel) (PGA page 230)
value crudes in the Dated Brent basket.
Mid Change Spread vs Canada basis Mid Change
Lloyd Blend AALRK00 67.68–67.70 67.690 -0.880 AALRP00 -12.31/-12.29 -12.300 -0.400
Platts North Sea Dated Brent, BFOE, CFD Mixed Sweet AALRR00 76.93–76.95 76.940 -0.480 AALRV00 -3.06/-3.04 -3.050 0.000
Light Sour Blend 76.78–76.80 76.790 -0.480 -3.21/-3.19 -3.200 0.000
Assessment Rationales & Exclusions
AALRX00 AALSD00
Midale AAUCC00 72.53–72.55 72.540 -0.480 AAUCE00 -7.46/-7.44 -7.450 0.000
Dated Brent <PCAAS00> assessment rationale: Condensates AALSF00 77.13–77.15 77.140 -0.480 AALSJ00 -2.86/-2.84 -2.850 0.000
Syncrude Sweet Prem. AASOK00 83.08–83.10 83.090 +0.020 AASOM00 3.09/3.11 3.100 +0.500
Of the six crudes in the Dated Brent basket, Forties WCS Hardisty AAPPN00 66.98–67.00 66.990 -0.880 AAPPP00 -13.01/-12.99 -13.000 -0.400
was seen in the Platts Market on Close assessment Cold Lake Hardisty AASZX00 66.83–66.85 66.840 -0.880 AASZZ00 -13.16/-13.14 -13.150 -0.400
WTI CMA (1st mo) AAVSN00 79.990 -0.480
process. Forties was assessed in a flat structure April
1-4 using an outstanding offer April 4. April 4-15 was Latin American assessments ($/barrel) (PGA page 280)
assessed in a 0.45 cent/day backwardated structure Diff to Diff to Futures Diff to Dated
Mid Change WTI strip Brent strip Brent strip
using a traded offer April 15. April 15-24 was assessed Escalante PCAGC00 84.12–84.17 84.145 -0.460 PCAGO00 3.915 AAXBS00 -0.200 AAXAX00 -0.800
in a 1 cent/day contango structure. Brent Blend, Medanito AMTOA00 81.745 -0.460 AMTOC00 1.515 AMTOB00 -2.600 AMTOD00 -3.200
Loreto PCAGH00 75.26–75.30 75.280 -0.425 PCAGQ00 -4.950 AAXBV00 -9.065 AAXBG00 -9.665
Oseberg, Ekofisk and Troll was assessed unchanged Oriente PCADE00 76.16–76.20 76.180 -0.425 PCAGU00 -4.050 AAXBW00 -8.165 AAXBH00 -8.765
April 1-21 with flat structures rolled over back-end Napo AAMCA00 70.86–70.90 70.880 -0.675 AAMCD00 -9.350 AAXBX00 -13.465 AAXBI00 -14.065
Tupi ATUPA00 83.845 -0.260 ATUPC00 3.615 ATUPB00 -0.500 ATUPD00 -1.100
dates reflecting steady market fundamentals and Castilla Blend AAVEQ00 76.27–76.32 76.295 -0.660 AAVEQ01 -3.935 AAXBZ00 -8.050 AAXBK00 -8.650
in the absence of indications testing the March 21 Vasconia PCAGI00 79.97–80.02 79.995 -0.110 PCAGR00 -0.235 AAXCB00 -4.350 AAXBN00 -4.950
Liza ALIZA00 84.995 -0.415 ALIZD00 4.765 ALIZC00 0.650 ALIZB00 0.050
assessments. Unity Gold AUNIA00 85.195 -0.415 AUNIC00 4.965 AUNIB00 0.850 AUNID00 0.250
FOB WTI Midland was assessed higher reflecting a Payara Gold AYARA00 84.995 -0.415 AYARD00 4.765 AYARC00 0.650 AYARB00 0.050
Latin America WTI strip AAXBP00 80.230
higher CIF Rotterdam assessment and a higher freight Latin America Futures Brent strip AAXBQ00 84.345
adjustment factor. CIF WTI Midland was assessed Latin America Dated Brent strip AAXBR00 84.945
unchanged April 3-21 with a flat structure rolled over

Latin America market parity prices ($/barrel) (PGA page 270)
back-end dates reflecting steady market fundamentals
Mid Change
and in the absence of indications testing the March 21 Maya AAYMP00 75.963 -0.535
assessment. Merey 16 AMERA00 74.824 -0.520
WTI Midland was the most competitive grade in
Platts euro-denominated assessments (€/barrel) (PGA page 1252)
the Dated Brent assessment April 1-3. Forties was the Mid Change
most competitive grade April 4-24.
European crude oil benchmarks
BFOE (PCAAQ00-PCAAR00,PCARR00> assessment Dated Brent AAPYR00 78.530–78.540 78.534 +0.111
rationale: Dated Brent (CIF) PCAKN00 79.783 +0.347
Urals (Mediterranean) AAPYS00 67.260–67.290 67.276 -0.015
May Cash BFOE was assessed using a traded offer
US crude oil benchmarks
in the MOC. June Cash BFOE was assessed using an WTI (Apr) AAPYT00 75.120–75.140 75.134 +0.371
WTI MEH (Apr) AAYSA00 76.568 +0.424
outstanding May/June spread bid in the MOC. July
Mars (Apr) AAPYU00 74.890–74.910 74.903 -0.044
Cash BFOE was assessed using a June/July EFP roll Euro/US$ forex rate: 1.0810. Platts Euro denominated crude oil assessments are based on market values and a Euro/US$ forex rate at 4:30 PM local London time.

heard during the day. Ruble-denominated Russian assessments (Rb/barrel) (PGA page 1224)
Mid Change
CFD (PCAKA00-AALDA00) assessment rationale:
Russian crude oil benchmarks
April 1-5 was assessed using a traded bid. April Urals FOB Novorossiysk AAUJP00 6301.040–6304.730 6302.888 +9.168
8-12 was assessed using a traded offer. April 15-19 Urals FOB Baltic AAUJQ00 6301.040–6304.730 6302.888 +9.168
Urals FOB Novorossiysk 80kt AAUJR00 6264.100–6267.790 6265.948 +9.028
was assessed using an outstanding bid. April 22-26 Urals CIF Mediterranean AAUJS00 6714.770–6717.540 6716.154 -7.666
was assessed using an April 22-26 versus April 15-19 Urals CIF Rotterdam AAUJT00 6620.570–6624.270 6622.419 +10.379
CFD roll heard during the day. April 29 to May 3 was US$/Ruble forex rate: 92.3500. Platts Ruble denominated crude oil assessments are based on market values and a US$/Ruble forex rate at 4:30 PM local London
time.
assessed using an April 29 to May 3 versus April 22-26
CFD roll heard during the day. Platts CAD-denominated Canada spot crude assessments (C$/cu m) (PGA page 232)
Johan Sverdrup FOB North Sea (AJSVA00, Mid Change
AJSVB00) assessment rationale: Lloyd Blend AALRM00 579.250–579.421 579.336 -4.354
Mixed Sweet AALRT00 658.418–658.589 658.503 -0.522
Johan Sverdrup was assessed unchanged April Light Sour Blend AALRZ00 657.134–657.305 657.220 -0.528
1-21 with a flat structure rolled over back-end dates Midale AAUCD00 620.760–620.931 620.845 -0.725
Condensates AALSH00 660.130–660.301 660.215 -0.512
reflecting steady sour market fundamentals and Syncrude Sweet AASOL00 711.054–711.225 711.139 +4.020
in the absence of indications testing the March 21 WCS Hardisty AAPPO00 573.259–573.430 573.345 -4.387
Cold Lake Hardisty AASZY00 571.975–572.146 572.061 -4.394
assessment.
Exclusions: None
Platts is part of S&P Global Commodity Insights Daily US$ vs EURO exchange rate (PGA page 1151)
Mid Change
Platts North Sea Dated Brent, BFOE, CFD March 22, 2024 AAFCW00 1.0810 -0.005
Bids, Offers, Trades

Asia close Brent and WTI spot assessments ($/barrel) (PGA page 2210)
Bids: Mid Change
Brent (May) PCAJG00 85.51–85.55 85.530 -0.770
NORTH SEA: None Brent (Jun) PCAJI00 84.97–85.01 84.990 -0.630
CASH BFOE: PLATTS CASH BFOE SPREAD: MAY24/ Brent (Jul) PCAJ000 84.370 -0.550
WTI (Apr) AAFFU00 81.15–81.19 81.170 -0.820
JUN24: CHEVRON BIDS 100KB AT $0.50 WTI (May) AAFFW00 80.74–80.78 80.760 -0.820
PLATTS CASH BFOE SPREAD: MAY24/JUN24: WTI (Jun) AAFFY00 80.30–80.34 80.320 -0.730
PETROINEOS BIDS 100KB AT $0.45

BRENT CFDS: PLATTS BRENT DIFF: APR1-APR5
(JUN): DARE BIDS 100KB AT $0.12 Oman OSPs and derivatives ($/barrel) (PGA pages 2658 & 2210)
PLATTS BRENT DIFF: APR1-APR5 (JUN): ONYX BIDS Mid Change
Oman/Dubai Swap (Apr) AAIHJ00 -0.02/0.02 0.000 0.000
100KB AT $0.10 Oman/Dubai Swap (May) AAIHL00 -0.02/0.02 0.000 0.000
PLATTS BRENT DIFF: APR1-APR5 (JUN): CHEVRON Oman/Dubai Swap (Jun) AAIHN00 -0.02/0.02 0.000 0.000
Oman Swap (Apr) AAHZP00 84.97–85.01 84.990 -0.810
BIDS 100KB AT $0.10 Oman Swap (May) AAHZR00 84.02–84.06 84.040 -0.780
PLATTS BRENT DIFF: APR1-APR5 (JUN): DV TRADING Oman Swap (Jun) AAHZT00 83.21–83.25 83.230 -0.700
BIDS 100KB AT $0.05
PLATTS BRENT DIFF: APR8-APR12 (JUN): SHELL
BIDS 100KB AT $0.18 Daily OPEC Basket Price ($/barrel) (PGA page 207)
PLATTS BRENT DIFF: APR8-APR12 (JUN): DARE BIDS Mid Change
100KB AT $0.17 March 21, 2024 AAEUQ00 85.560 -0.470

PLATTS BRENT DIFF: APR8-APR12 (JUN): ONYX BIDS Futures Settlements

Settlement Change Low High Volume* Open interest PNT****
100KB AT $0.12
NYMEX Light Sweet crude ($/barrel) (PGA page 705)
PLATTS BRENT DIFF: APR8-APR12 (JUN): May 24 NMCL001 80.63 -0.44 80.42 81.45 207386 354239
PETROCHINA BIDS 100KB AT $0.10 Jun 24 NMCL002 80.17 -0.47 79.99 80.97 94877 230552
PLATTS BRENT DIFF: APR8-APR12 (JUN): DV Jul 24 NMCL003 79.61 -0.48 79.46 80.38 45572 157662
Aug 24 NMCL004 78.95 -0.50 78.80 79.63 21882 74363
TRADING BIDS 100KB AT $0.05 Total NMCL000 472047 XNCLP00 13069
PLATTS BRENT DIFF: APR15-APR19 (JUN): SHELL ICE Brent ($/barrel) (PGA page 704)
BIDS 100KB AT $0.36 May 24 ICLL001 85.43 -0.35 85.11 86.15 207511 237540
PLATTS BRENT DIFF: APR15-APR19 (JUN): DV Jun 24 ICLL002 84.83 -0.41 84.58 85.58 297603 549192
Jul 24 ICLL003 84.15 -0.45 83.98 84.90 108061 281565
TRADING BIDS 500KB AT $0.35 Aug 24 ICLL004 83.46 -0.47 83.31 84.21 58506 153458
PLATTS BRENT DIFF: APR15-APR19 (JUN): ONYX Total ICLL000 828945 XILLP00 75837
BIDS 300KB AT $0.35 ICE WTI ($/barrel) (PGA page 704)
May 24 ICIC001 80.63 -0.44 80.40 81.44 39282 101816
PLATTS BRENT DIFF: APR15-APR19 (JUN): EQUINOR
Jun 24 ICIC002 80.17 -0.47 79.99 80.98 53588 95142
BIDS 100KB AT $0.33 Jul 24 ICIC003 79.61 -0.48 79.46 80.27 39623 46373
PLATTS BRENT DIFF: APR15-APR19 (JUN): DARE Aug 24 ICIC004 78.95 -0.50 78.83 79.50 28599 26815
Total ICIC000 191648 XIICP00 7869
BIDS 100KB AT $0.25
ICE BWAVE ($/barrel) (PGA page 704)
PLATTS BRENT DIFF: APR15-APR19 (JUN): PETRACO
BWAVE data refer to previous day.
BIDS 100KB AT $0.25 May 24 XIBW001 85.77
PLATTS BRENT DIFF: APR15-APR19 (JUN): Jun 24 XIBW002 85.20
PETROCHINA BIDS 100KB AT $0.25 DME Oman crude ($/barrel)** (PGA pages 702 & 2710)
May 24 XDOA001 85.14 -0.87 4249
PLATTS BRENT DIFF: APR22-APR26 (JUN): SHELL
May 24 DMOQ001 85.07 -0.42 85.06 85.35 4357 19004
BIDS 100KB AT $0.37 Jun 24 DMOQ002 84.47 -0.87 84.47 84.47 620 14
PLATTS BRENT DIFF: APR22-APR26 (JUN): PETRACO Jul 24 DMOQ003 83.87 -0.78 83.87 83.87 620 11
Aug 24 DMOQ004 83.32 -0.76 83.32 83.32 0 0
BIDS 100KB AT $0.35
Total Volume DMOQ000 6009 XDOQP00 700
PLATTS BRENT DIFF: APR22-APR26 (JUN): OMV IFAD Murban crude ($/barrel) (PGA page 703)
BIDS 100KB AT $0.35 May 24 AMIFA00 85.200
PLATTS BRENT DIFF: APR22-APR26 (JUN): DARE Murban vs Dubai*** AMIFB00 1.160
NYMEX ULSD ($/gal) (PGA page 705)
BIDS 100KB AT $0.34
Apr 24 NMHO001 2.6534 -0.0154 2.6471 2.6904 17592 29570
PLATTS BRENT DIFF: APR22-APR26 (JUN): ONYX May 24 NMHO002 2.6385 -0.0131 2.6316 2.6708 49014 87406
BIDS 100KB AT $0.33 Jun 24 NMHO003 2.6187 -0.0166 2.6128 2.6497 31891 49841
PLATTS BRENT DIFF: APR22-APR26 (JUN): Jul 24 NMHO004 2.6082 -0.0186 2.6030 2.6382 15816 26606
Total NMHO000 151753 XNHOP00 8633
PETROCHINA BIDS 100KB AT $0.30 NYMEX RBOB unleaded gasoline ($/gal) (PGA page 705)
PLATTS BRENT DIFF: APR22-APR26 (JUN): DV Apr 24 NMRB001 2.7398 +0.0127 2.7052 2.7473 25262 45351
TRADING BIDS 100KB AT $0.25 May 24 NMRB002 2.7170 +0.0048 2.6896 2.7317 64765 114133
Jun 24 NMRB003 2.6762 +0.0007 2.6541 2.6928 34966 62550
Offers:
Jul 24 NMRB004 2.6275 -0.0019 2.6085 2.6449 12583 41851
NORTH SEA: FOB BASIS HOUND POINT: PLATTS Total Volume NMRB000 155373 XNRBP00 9727
NSEA FORTIES: APRIL 3-5: REPSOL OFFERS 700000.0B NYMEX Natural Gas ($/MMBtu) (PGA page 705)
AT DTD $-0.30 . . Apr 24 NMNG001 1.659 -0.024 1.647 1.712 35040 40869
May 24 NMNG002 1.812 -0.019 1.791 1.859 90675 393643
CASH BFOE: PLATTS CASH BFOE: MAY24: OMV Jun 24 NMNG003 2.032 -0.023 2.019 2.081 26526 102716
OFFERS 100KB AT $85.68 Jul 24 NMNG004 2.337 -0.022 2.321 2.380 23977 148449
Total Volume NMNG000 241442 XNNGP00 11157

IMPLIED: PLATTS CASH BFOE: JUN24: PETROINEOS Futures Settlements (continued)

Settlement Change Low High Volume* Open interest PNT****
OFFERS 100KB AT $85.23
ICE low sulfur gasoil ($/mt) (PGA page 704)
BRENT CFDS: PLATTS BRENT DIFF: APR1-APR5 Apr 24 ICLO001 823.75 +2.75 821.00 831.75 45094 115694
(JUN): UNIPEC OFFERS 100KB AT $0.20 May 24 ICLO002 810.75 +0.50 807.75 819.00 77223 172409
Jun 24 801.25 +0.00 798.00 809.00 50343 104377
PLATTS BRENT DIFF: APR1-APR5 (JUN): DARE ICLO003
Jul 24 ICLO004 795.50 -0.25 792.25 802.75 15831 55190
OFFERS 100KB AT $0.23 Total Volume ICLO000 255587 XILOP00 3561
PLATTS BRENT DIFF: APR1-APR5 (JUN): DV TRADING ICE Midland WTI American Gulf Coast ($/barrel) (PGA page 704)
OFFERS 100KB AT $0.25 May 24 IHOU001 82.29 -0.44 82.14 82.97 3429 7636
Jun 24 IHOU002 81.85 -0.48 81.71 82.55 7127 6731
PLATTS BRENT DIFF: APR1-APR5 (JUN):
Jul 24 IHOU003 81.23 -0.50 81.22 81.88 2903 3991
PETROCHINA OFFERS 100KB AT $0.25 Aug 24 IHOU004 80.57 -0.52 80.57 80.57 2652 3684
PLATTS BRENT DIFF: APR1-APR5 (JUN): ONYX *Volume, open interest and PNT reflect prior trading day. PNT reflect volume for Privately Negotiated Trades or off-exchange. **Oman settlements are Post Close
OFFERS 100KB AT $0.25 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):

PETROCHINA OFFERS 100KB AT $0.22
PLATTS BRENT DIFF: APR8-APR12 (JUN): PETRACO
OFFERS 100KB AT $0.24 Futures at Platts’ Market on Close ($/barrel) (PGA page 703)
PLATTS BRENT DIFF: APR8-APR12 (JUN): UNIPEC Singapore* London* Houston* Singapore* London* Houston*
ICE Brent NYMEX WTI
OFFERS 100KB AT $0.25
May XILLA01 85.43 AAYES00 85.51 AAQBG00 85.44 M1 XNCLA01 80.76 AASCR00 80.77 NYCRM01 80.65
PLATTS BRENT DIFF: APR8-APR12 (JUN): CHEVRON Jun XILLA02 84.90 AAYET00 84.95 AAQBH00 84.83 M2 XNCLA02 80.32 AASCS00 80.30 NYCRM02 80.17
OFFERS 100KB AT $0.25 Jul AAXZY00 84.29 AAXZZ00 84.16 M3 NYCRM03 79.61
PLATTS BRENT DIFF: APR8-APR12 (JUN): Aug AAYAM00 83.60 AAYAL00 83.47 M4 NYCRM04 78.94
Oman *Singapore and London MOC close at precisely 16:30 local time while Houston
TRAFIGURA OFFERS 100KB AT $0.25 MOC closes at precisely 13:30 local time. MOC times are usually earlier on the
May XDOA001 85.14
PLATTS BRENT DIFF: APR8-APR12 (JUN): DARE Volume XDOAV01 4249 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
03/22/2024 April Mars Heard -0.25 Cash WTI
03/22/2024 May Vasconia Heard -4.30 ICE Brent
03/22/2024 May WCS Houston Heard -5.50 NYMEX WTI CMA
03/22/2024 April WTI Midland Heard 1.30 Cash WTI
Platts Asia
3/22/2024 April 1 30 Basrah Medium Heard 0.50 OSP 1,000,000 Eni Unknown
3/22/2024 April 1 30 Basrah Medium Heard 0.65 OSP 1,000,000 CNOOC Vitol
3/22/2024 April 1 30 Basrah Medium Heard 0.70 OSP 1,000,000 Eni Unknown
3/22/2024 May Dubai Partial Done 85.14 25,000 Vitol Mitsui
3/22/2024 May Dubai Partial Done 85.15 25,000 ExxonMobil Trafigura
3/22/2024 May Dubai Partial Done 85.15 25,000 ExxonMobil Shell
3/22/2024 May Dubai Partial Done 85.14 25,000 Vitol PetroChina
3/22/2024 May Dubai Partial Done 85.15 25,000 Reliance PetroChina
3/22/2024 May Dubai Partial Done 85.14 25,000 Vitol Mercuria
3/22/2024 May Dubai Partial Done 85.15 25,000 Vitol Shell
3/22/2024 May Dubai Partial Done 85.14 25,000 ExxonMobil PetroChina
3/22/2024 May Dubai Partial Done 85.14 25,000 Vitol Mercuria
3/22/2024 May Dubai Partial Done 85.20 25,000 Equinor Shell
3/22/2024 May Dubai Partial Done 85.14 25,000 ExxonMobil PetroChina
3/22/2024 May Dubai Partial Done 85.14 25,000 TotalEnergies Mitsui
3/22/2024 May Dubai Partial Done 85.10 25,000 TotalEnergies Shell
3/22/2024 May Dubai Partial Done 85.15 25,000 Unipec Shell
3/22/2024 May Dubai Partial Done 85.15 25,000 Unipec PetroChina
3/22/2024 May Dubai Partial Done 85.10 25,000 Vitol Trafigura
3/22/2024 May Dubai Partial Done 85.14 25,000 ExxonMobil Mitsui
3/22/2024 May Dubai Partial Done 85.20 25,000 Unipec Shell
3/22/2024 May 1 31 Murban Heard 1.35 Dubai 500,000 BP PTT

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)
3/22/2024 May 1 31 Murban Heard 1.45 Dubai 500,000 Sinochem PTT

3/22/2024 May 1 31 Murban Heard 1.35 Dubai 500,000 Vitol PTT
3/22/2024 May 1 31 Murban Heard 1.35 Dubai 500,000 Glencore PTT
3/22/2024 May 24 28 North West Shelf Heard -5.00 Dated Brent 600,000 Shell Pertamina
3/22/2024 May Oman Done 500,000 Vitol PetroChina
Platts EMEA
03/22/2024 April 17 21 Azeri Light Done 1.95 Dated Brent 650000 Socar Saras
03/22/2024 April 17 21 Azeri Light Done 1.95 Dated Brent 650000 Socar Vitol
03/22/2024 April 8 12 Brent CFD Done 0.20 Cash BFOE Jun 100000 PetroChina Dare Global
03/22/2024 April 15 19 Brent CFD Done 0.35 Cash BFOE Jun 100000 Chevron Shell
03/22/2024 April 15 19 Brent CFD Done 0.35 Cash BFOE Jun 100000 Trafigura Onyx
03/22/2024 April 15 19 Brent CFD Done 0.35 Cash BFOE Jun 100000 Dare Global Shell
03/22/2024 April 1 5 Brent CFD Done 0.13 Cash BFOE Jun 100000 BP Shell
03/22/2024 May Cash BFOE Done 85.51 100000 Gunvor Mercuria
03/22/2024 April 14 16 Forties Done -0.40 Dated Brent 700000 ENI Glencore
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.
OFFERS 100KB AT $0.25 PLATTS BRENT DIFF: APR22-APR26 (JUN): PETRACO Mo02 <PCAAR00> CFD Week 4 <PCAKG00> Brent
PLATTS BRENT DIFF: APR8-APR12 (JUN): DV OFFERS 100KB AT $0.55 Mo03 <PCARR00> CFD Week 5 <AAGLU00> CFD Week
TRADING OFFERS 100KB AT $0.35 Trades: 6 <AAGLV00> CFD Week 7 <AALCZ00> CFD Week 8
PLATTS BRENT DIFF: APR8-APR12 (JUN): ONYX NORTH SEA: FOB BASIS HOUND POINT: PLATTS <AALDA00> Johan Sverdrup FOB North Sea <AJSVA00>
OFFERS 100KB AT $0.40 NSEA FORTIES: APRIL 14-16: GLENCORE BUYS FROM Johan Sverdrup FOB North Sea vs North Sea Dtd Strip
PLATTS BRENT DIFF: APR15-APR19 (JUN): DARE ENI* 700000.0B AT DTD $-0.40 . . (16:27:04) <AJSVB00>
OFFERS 100KB AT $0.39 CASH BFOE: PLATTS CASH BFOE: MAY24:
PLATTS BRENT DIFF: APR15-APR19 (JUN): DV MERCURIA BUYS FROM GUNVOR* 100KB AT $85.51 Platts WTI Midland Crude DAP Europe
TRADING OFFERS 100KB AT $0.40 (16:29:48) Assessment Rationale & Exclusions
PLATTS BRENT DIFF: APR15-APR19 (JUN): CHEVRON BRENT CFDS: PLATTS BRENT DIFF: APR1-APR5 WTI Crude DAP Europe <AWTIC00> assessment
OFFERS 100KB AT $0.40 (JUN): BP SELLS TO SHELL* 100KB AT $0.13 (16:29:58) rationale:
PLATTS BRENT DIFF: APR15-APR19 (JUN): PLATTS BRENT DIFF: APR8-APR12 (JUN): DARE WTI DAP Rotterdam was assessed unchanged
PETROCHINA OFFERS 100KB AT $0.45 BUYS FROM PETROCHINA* 100KB AT $0.20 (16:29:39) between April 11 and May 21, with structure rolled over
PLATTS BRENT DIFF: APR15-APR19 (JUN): ONYX PLATTS BRENT DIFF: APR15-APR19 (JUN): back-end dates in the absence of indications testing
OFFERS 100KB AT $0.50 TRAFIGURA SELLS TO ONYX* 100KB AT $0.35 (16:21:03) the March 21 assessment. There were no bids, offers
PLATTS BRENT DIFF: APR15-APR19 (JUN): PETRACO PLATTS BRENT DIFF: APR15-APR19 (JUN): SHELL or trades in the Platts Market on Close assessment
OFFERS 100KB AT $0.50 BUYS FROM DARE* 100KB AT $0.35 (16:21:45) process for DAP WTI Midland.
PLATTS BRENT DIFF: APR22-APR26 (JUN): DARE PLATTS BRENT DIFF: APR15-APR19 (JUN): SHELL WTI Crude DAP Augusta <AWTIA00> assessment
OFFERS 100KB AT $0.45 BUYS FROM CHEVRON* 100KB AT $0.35 (16:28:52) rationale:
PLATTS BRENT DIFF: APR22-APR26 (JUN): ONYX This assessment commentary applies to the WTI DAP Augusta was assessed unchanged
OFFERS 100KB AT $0.50 following market data codes: Dated Brent <PCAAS00> between April 11 and May 21, with structure rolled over
PLATTS BRENT DIFF: APR22-APR26 (JUN): DV CFD Week 1 <PCAKA00> CFD Week 2 <PCAKC00> Brent back-end dates in the absence of indications testing
TRADING OFFERS 100KB AT $0.55 Mo01 <PCAAQ00> CFD Week 3 <PCAKE00> Brent the March 21 assessment. There were no bids, offers

or trades in the Platts Market on Close assessment Azeri Light has shed $2.065/b since March 1, However, the reduced supply could be somewhat
process for DAP WTI Midland. according to Platts data, as demand for April-loading balanced by a softer domestic crude demand following
Exclusions: None cargoes has been soft ahead of a heavy maintenance a flurry of Ukrainian drone attacks on Russian
Platts is part of S&P Global Commodity Insights season scheduled for Europe. refineries.
Competing Mediterranean sweet grades have also AltView estimated Russian refinery runs fell to
Platts WTI Midland Crude DAP Europe Bids, seen differentials drop as a bearish sentiment grips 5.21 million b/d in February, down 290,000 b/d from
Offers, Trades the complex. December/January, due to planned maintenance and
Platts assessed Saharan Blend at a 65 cents/b an attack on the 240,000 b/d capacity Tuapse refinery.
Bids: None premium to Dated Brent March 20, the lowest since Since then, further drone attacks on other major
Offers: None Dec. 27. refineries has increased lost crude capacity to around
Trades: None Libya’s flagship Es Sider crude was assessed at a 10 900,000 b/d, AltView notes, will reduce March refinery
This assessment commentary applies to the cents/b discount to Dated Brent, March 20, the lowest runs to around 5.0 million b/d.
following market data codes: WTI Midland DAP since Jan. 5. In other news, price cap complications have
basis Rotterdam <AWTIC00> WTI Midland DAP basis In the past two weeks, Socar has sold seven Azeri created at least temporary payment difficulties in
Rotterdam vs Fwd Dated Brent <AWTID00> WTI Light cargoes in the MOC. That represented 37% of the China for certain Russian cargoes, according to market
Midland DAP basis Augusta <AWTIA00> WTI Midland 19 April-loading Azeri Light cargoes set to be loaded sources.
DAP basis Augusta vs Fwd Dated Brent <AWTIB00> by Socar. In addition, Bulgaria voted to cease all Russian
Overall, 16.55 million barrels (551,667 b/d) of Azeri crude imports by March 1, despite an exemption to the
Platts Mediterranean & Black Sea Sweet Light are set to be loaded in April, according to a copy December 2022 EU crude import ban for shipments
Crude Daily Commentary of the loading program seen by S&P Global. The volume from the Black Sea port of Novorossiisk.
is spread across 24 cargoes. That removed another buyer, albeit a modest recent
Azeri Light finds floor after weeks of free fall
Platts is part of S&P Global Commodity Insights importer taking 135,000 b/d of Urals crude in Q3 2023,
Socar sells Azeri Light at Dated Brent plus $1.95/b and just 95,000 b/d by December.
Platts NWE and Med Urals Sour Crude Daily A prolonged war in Ukraine could also cause
Azeri Light crude’s value appeared to have found a Market Analysis pressure to eventually increase on the remaining
floor, March 22, after dropping $2.065/b since the start EU buyers of Russian Urals crude to cease imports
Russian crude production set to drop 95,000 b/d in
of the month. through the southern Druzhba pipeline (around
Q1, 295,000 b/d in Q2: AltView
Platts assessed the Azerbaijani grade at a $1.885/b 275,000 b/d to Slovakia, Hungary, and the Czech
premium to Dated Brent, up 5 cents/b on the day. Russian March refinery runs estimated to fall to 5 Republic on exemptions to the import ban).
Socar sold two Azeri Light cargoes during the Platts million b/d amid uptick in drone attacks Combined with reduced refinery runs, these factors
Market on Close assessment process at a $1.95/b point to even greater reliance on China and India to
premium to Dated Brent. The cargoes, set to load April S&P Global Commodity Insights AltView forecast increase Urals crude imports, an inconvenient dynamic
17-21, were bought by Saras and Vitol. Russian crude production would average 9.47 million with all Russia’s excess export capacity currently
“Hopefully it is the floor,” one trader said, referring b/d in the first quarter, down 95,000 b/d from Q4 2023 directed at former buyers in the West.
to Azeri Light. despite a flat OPEC+ pledge, and would drop another
The day prior, Socar sold an Azeri Light cargo to 295,000 b/d in Q2 2024. Platts EMEA Urals and Med Brent Crude Daily
Petraco at a $1.90/b premium to Dated Brent during The forecast fall in supply is led by the extra 410,000 Rationales & Exclusions
the March 21 Platts Market on Close assessment b/d production and export cut through Q2 2024, Urals CIF Augusta differential <AAGXX00>
process. announced on March 3. assessment rationale:

Urals CIF Augusta was assessed 30 cents/b lower. Platts EMEA Urals & Med Brent Crude Bids, in the day.
There were no bids or offers in the Platts Market on Offers, Trades “Some sellers may be over optimistic” said one
Close assessment process. The Urals CIF Augusta trader. “Light [Angolan crude] in particular is struggling
differential was assessed using a net forward to the Bids: None to clear, with heavy overhang as well.”
Urals FOB Aframax and Suezmax assessment. The FOB Offers: None “Offers were pretty strong,” said a second trader.
differentials were assessed 10 cents/b lower based on Trades: SOCAR*-Saras Azeri Light 17-21/04 650kb “Sellers are trying to be more supporting for May load/
previously heard indications. +/-5 pct SO Dtd +1.95 CIF bs Augusta ex Ceyhan June delivery as we come out of turnaround season.”
Urals CIF Med <PCACE00> assessment rationale: SOCAR*-Vitol Azeri Light 17-21/04 650kb +/-5 pct SO Traders cited competition emerging from other
The Urals CIF Mediterranean assessment reflected Dtd +1.95 CIF bs Augusta ex Ceyhan regions, as light sweet crude differentials across the
the value of the Mediterranean Dated Brent Strip This assessment commentary applies to West of Suez region tumbled, including Azerbaijan’s
(AALDF00) plus the Urals CIF Augusta differential the following market data codes: Urals CIF Med Azeri Light, which has been cited as competing with
assessment (AAGXX00). <PCACE00>> Urals CIF Rdam <PCAFW00> ESPO FOB Angolan sweets.
Urals RCMB (Recombined) <AALIN00> assessment Kozmino Mo01 London <AARWD00> CPC CIF Augusta The differential for Azeri Light, which loads in the
rationale: Diff <AAHPL00> Mediterranean, was recently assessed at its lowest
The Urals RCMB (Recombined) assessment level since March 2023, with traders on March 21
reflected the value of the Platts Dated Brent Platts West African Crude Daily describing the price as being in “free-fall.” It remains
assessment (PCAAS00) plus the Urals CIF Augusta Commentary to be seen how much this will extend pressure to
differential assessment (AAGXX00). Angolan grades.
Nigerian crudes steady amid lackluster
Urals CIF Rdam <PCAFW00> assessment rationale: In loadings, exports of Nigeria’s Akpo crude are set
European demand
Urals CIF Rotterdam was assessed 10 cents/b to average 64,516 b/d in April, with three 1-million-
lower. There were no bids or offers in the MOC. The ‘Heavy overhang’ for Angolan grades: traders barrel cargoes scheduled during the month, according
Urals CIF Rotterdam differential was assessed as a net to a copy of the provisional loading program seen by
forward to the Urals FOB Baltic assessment. The FOB In Nigerian crude markets, physical differentials S&P Global Commodity Insights March 22
differentials were assessed 10 cents/b lower based on were treading a steady course amid broader weakness The total volume is up on the month, and is made
previously heard indications. in the Atlantic basin sweet crude complex. up of two stems loading May 13-14 and May 29-30.
Med Dated Brent Strip 13-28 Day <AALDF00> Demand from Europe remained diminished as
assessment rationale: refinery turnaround season continued, with a contango Platts US Pipeline Crude Daily Commentary
The Mediterranean Dated Brent Strip reflected the emerging in the Dated Brent CFD market amid the
Sweet USGC crudes strengthen
value of Forward Dated Brent 13-28 days ahead of the weak physical price environment. Whilst long-haul
day of publication. Forward Dated Brent is assessed crudes such as those loading out of West Africa can Oil futures settle lower
as a function of Platts assessments of second-month stand to benefit from a contango structure in the
Cash BFOE (PCAAR00) and BFOE CFD differentials Dated Brent complex, sellers also have to reckon with While differentials for sweet USGC crudes saw
(PCAKA00, PCAKC00, PCAKE00, PCAKG00, AAGLU00, the associated diminished demand from European strength March 22, while US Gulf Coast medium sour
AAGLV00, AALCZ00). refineries. crude Mars weakened amid softening oil futures.
CPC Blend CIF Augusta vs BTC Dtd Strip Freight from WAF to UK Continent continued to Differentials edged higher on the sweeter side, with
<AAHPL00> assessment rationale: float upward in the Aframax sector, whilst charter rates Platts assessing physical West Texas Intermediate
CPC Blend was assessed unchanged based on for VLCCs were seen to weaken. crude at Midland 5 cents stronger than the previous
previously heard indications. In Angola, spot offers seen throughout the week day at cash WTI plus $1.30/b, after it was heard to
Exclusions: None indicated a bullish attitude adopted by sellers, with trade there, and WTI crude at the Magellan East
Platts is part of S&P Global Commodity Insights other market participants suggesting a softer market Houston terminal 5 cents/b stronger day on day at

$1.55/b, based on market indications. MEH plus 40 cents/b, and Platts assessed the third In the East Canadian market, Platts assessed
Platts assessed Mars at cash WTI minus 25 cents/b, decade 20 cents weaker at a 35-cent/b premium barrels of Hebron at minus $4.10 cents/b, and Terra
45 cents weaker on the day, after it was heard to trade to WTI MEH after an offer was heard for April 25-30 Nova was assessed at minus $3.45/b. Platts assessed
at that level. loading at WTI MEH plus 40 cents/b. Hibernia at minus 75 cents/b and White Rose at plus 10
Crude oil futures settled lower day on day as the Platts cFlow ship and commodity tracking software cents/b, respectively.
outlook for US interest rates appeared less dovish. from S&P Global Commodity Insights showed Platts is a part of S&P Global Commodity Insights.
NYMEX front-month crude settled 44 cents lower at waterborne US Gulf Coast US crude exports fell to
$80.63/b, while ICE May Brent settled 35 cents lower 4.257 million b/d during the week ended March 22, Platts Latin American Crude Daily
at $85.43/b. 1.03 million b/d lower from USGC exports in the week Commentary
The US Federal Reserve has retained its forecast ended March 15.
Tupi differentials stronger
to cut rates three times this year while lowering its Platts cFlow data also showed that crude flows to
forecast of cutting rates from four to three times in South Korea totaled 3.273 million barrels during the Argentinian grades mixed
2025, a bullish move for the US dollar. week ended March 22, only 370,000 barrels lower than
Platts is a part of S&P Global Commodity Insights. crude flows to the Netherlands, which totaled 3.643 A down day for freight costs March 22 helped lift
barrels during the same week. Latin American crude differentials higher.
Platts US Gulf Coast Export Crude Daily Platts is part of S&P Global Commodity Insights. Platts assessed Argentinian grade Vasconia at a
Commentary $4.35/b discount to ICE Brent, up 35 cents/b on the
Platts Canadian Pipeline Crude Daily day. Market sources credited more favorable shipping
Platts AGS continues to weaken against forward
Commentary costs as the primary driver for the strengthening.
Dated Brent
Vasconia differentials are at their highest levels
USGC waterborne exports decrease on week: Western Canadian Select crude at Hardisty was
since a Platts-assessed $3.90/b discount on Nov.
Platts cFlow assessed March 22 down 40 cents/b
10, 2023.
Syncrude Sweet Premium at Edmonton, Alberta, Heavy Castilla Blend was assessed at a $8.05/b
Platts American Gulf Coast Select crude continued was up 50 cents discount to ICE Brent, down 20 cents/b on the day.
to soften against the forward Dated Brent strip on Castilla differentials were down with a selloff in Heavy
March 22 amid decreasing waterborne crude exports Western Canadian Select crude at Hardisty was Canadian crude grades. Platts assessed Western
out of the US Gulf Coast. assessed March 22 at WTI CMA minus $13.00/b, Canadian Select at Nederland Texas at a $5.50/b
Platts AGS was assessed 7 cents weaker on the weakening 40 cents/b from its previous assessment. discount to WTI CMA, down 20 cents/b.
day against the forward Dated Brent strip at a $2.24/b This move came after a paper trade seen in Brazilian grade Tupi was assessed at a $1.10/b
discount. Against the forward NYMEX WTI strip, the market. discount to the Latin American Dated Brent strip, up 20
Platts AGS was assessed 2 cents weaker at a $2.58/b Heavy Canadian crude in Cushing, Oklahoma, and cents/b. Tupi differentials were stronger with a weaker
premium. Nederland, Texas, followed that movement and was day for freight into China. Platts assessed the Brazil-
After a first-decade April-loading WTI FOB cargo assessed at WTI CMA minus $6.40/b, down 20 cents/b Uruguay VLCC route at w69, down from w71.
was heard talked at a 30-cent/b premium to WTI at the on the day and at WTI CMA minus $5.50/b, down 20 Sources in the Guyana markets noted a recent
Magellan East Houston terminal, Platts assessed the cents/b. The move came after a paper trade seen in slowdown for Guyana purchases, attributed to refinery
first decade for April-loading WTI Midland FOB USGC the market. maintenance in Europe and possible short-term
cargoes 10 cents stronger on the day at WTI MEH plus Mixed Sweet at Edmonton was also assessed oversupply, but those headwinds are expected to be
30 cents/b. Platts assessed the second decade 25 unchanged at WTI CMA minus $3.05/b. temporary.
cents weaker at a 35-cent/b premium to WTI MEH, Syncrude Sweet Premium at Edmonton, Alberta, up Platts assessed Guyana grade Liza at a 5 cents/b
after an offer was heard for April 10-15 loading at WTI 50 cents on the day at WTI CMA plus $3.10/b. premium to the Latin American Dated Brent strip, Unity

Gold at a 25-cents/b premium, and Payara Gold at a 5 Platts extends feedback period for proposal to The underlying refined product prices used in the
cents/b premium, all unchanged on the day. amend Indonesia crude oil Market Parity Prices calculation of the Gross Product Worth values will
methodology be based on the regional benchmark Mean of Platts
Platts, part of S&P Global Commodity Insights, Singapore refined product prices as listed below, at the
Subscriber Notes is extending to April 5 the feedback period for its Asian market close.
proposal to amend the methodology it uses to Benchmark CFR North Asia propane, butane spot
Easter publishing schedule for Americas oil calculate the Market Parity Prices for Indonesia’s prices will be normalized to Singapore in the GPW
Platts, part of S&P Global Commodity Insights, will Minas, Cinta and Widuri crude oil grades. calculations.
not publish Americas crude oil and petroleum products The proposed launch date of April 1 will also be Product Code
Propane Refrigerated CFR North Asia 30-45 days AAVAK00
assessments on March 29, due to the Good Friday holiday. revised to a later date, in line with the extended Butane Refrigerated CFR North Asia 30-45 days AAVAN00
Additionally, because the London Platts Market on feedback period. Naphtha FOB Singapore Cargo PAAAP00
Gasoline Unl 95 FOB Spore Cargo PGAEZ00
Close assessment process will close early on March Platts first sought feedback on its proposal to Gasoline Unl 92 FOB Spore Cargo PGAEY00
28, no Eastern Canadian crude oil assessments will be amend the Indonesia crude oil MPP methodology in a Jet Kero FOB Spore Cargo PJABF00
Gasoil 0.001% S (10 ppm) FOB Spore Cargo AAOVC00
published. subscriber note published Feb. 2: Gasoil 0.05% S (500 ppm) FOB Spore Cargo AAFEX00
The MOC for Americas oil on March 28 will remain (https://www.spglobal.com/commodityinsights/en/ Gasoil 0.25% S (2500 ppm) FOB Spore Cargo AACUE00
FOB Spore Marine Fuel 0.5% Cargo AMFSA00
unchanged, with a market close of 2:30 pm ET our-methodology/subscriber-notes/020224-platts- FO 380 CST 3.5% S FOB Spore Cargo PPXDK00
(1830 GMT). proposes-amending-indonesia-crude-oil-market-
Normal Americas publishing schedules will resume parity-prices-methodology). Currently, Minas, Cinta, Widuri, the three basket
April 1, with the exception of Canada, which observes The initial feedback period ended Feb. 23. grades and their GPWs are normalized for delivery
the Easter Monday holiday. Normal Canadian oil Under the current proposal, the reference basket to Japan, accounting for freight and regional spot
assessments will resume April 2. of relevant crude grades where MPP calculations for product prices.
For full details of S&P Global Commodity Minas, Cinta and Widuri are benchmarked to, would be The proposed change would better reflect the
Insights publishing schedule and services affected, amended to comprise Malaysia’s Kimanis, Abu Dhabi’s recent flow of Minas, Cinta and Widuri crude that is
please refer here. For inquiries, please contact Murban, Angola’s Cabinda and Dalia grades. observed to be mainly processed by Southeast Asian
[email protected]. The values of Cabinda and Dalia would be refineries.
calculated at the Asian market close (4:30 pm Platts will continue to report on any spot market
Platts corrects ICE Brent crude futures at 4:30 pm Singapore time) based on their last assessed values transactions for the three grades, but this information
Singapore time March 18 at the London close and accounting for the movement would not be used in the daily calculation of the MPP.
Platts, part of S&P Global Commodity Insights, has in the underlying Dated Brent benchmark at the Platts MPPs provide a calculation of the equivalent
corrected its March 18 assessments for ICE Brent prior trading day’s European market close at 4:30 pm market value of a given crude based on the value
crude futures at 4:30 pm Singapore time, which should London time, until the Asian close. of its typical refined product yield, subtracting
read as follows: Currently, the reference basket of relevant crude costs for transport and the refining process, and
Corrected grades in the MPP calculations comprise Kimanis, adjusting the resulting value based on the trading
Assessment Name Code
Value Murban and Russia’s ESPO Blend. levels of comparison crudes relative to their product
ICE Brent at Singapore MOC MO02 XILLA02 85.32
ICE Brent at Singapore MOC Time Spread MO01/MO02 AAZ0102 0.62 Platts is also proposing to amend the underlying yield values.
ICE Brent at Singapore MOC Time Spread MO02/MO03 AAZ0203 0.69 delivery point for Minas, Cinta, Widuri and the four The MPP model will ensure that the assessments
basket grades, to Singapore. capture both the inherent refining value of the
These assessments appear in the Crude Oil Under this proposal, Minas, Cinta, Widuri and the crude as well as the broader oil market demand-
Marketwire, Oilgram Price Report and Platts Global four basket grades would be normalized for delivery to supply fundamentals reflected in the price of the
Alert/Platts Crude Oil Alert on pages 0703 and 1201. Singapore, accounting for freight. reference basket.

Current
More details on Platts MPP models and Country Grade
New assessment
assessment basis
standards.
basis (barrels)
methodology are available at https://bit.ly/33GZehH. (barrels) Platts will publish all relevant information from
Nigeria Agbami 1,000,000 975,000
Platts will continue to review the MPP models for Nigeria Bonga 1,000,000 975,000
Chevron Products UK Limited accordingly.
Minas, Cinta and Widuri to ensure they continue to Nigeria Usan 1,000,000 950,000 Platts welcomes all relevant feedback regarding
Angola Plutonio 1,000,000 950,000
reflect prevailing market conditions and quality of the MOC participation. Platts considers bids, offers
crude grades. and transactions by all credible and credit-
The Minas, Cinta and Widuri MPP assessments Platts will also amend min and max volumes for the worthy parties in its assessment processes. For
are published in Platts Crude Oil Marketwire, Platts following grades: comments and feedback, please contact Platts
Oilgram Price Report and on Platts Global Alert and New minimum New maximum Current min/max editors at [email protected] and
Country Grade
Platts Crude Oil Alert pages 1250, 1805, 2210, 2211, 2216, (barrels) (barrels) (barrels) [email protected].
Nigeria Bonny Light 950,000 1,000,000 950,000/950,000
2217, 2244, 2245, 2264, 2265, 2280, 2281, 2811 under the Nigeria Forcados 950,000 1,050,000 950,000/950,000
following price database codes: Nigeria Agbami 1,000,000 1,000,000 975,000/975,000 Platts invites feedback on Global Oil Timing and
Nigeria Bonga 950,000 1,050,000 975,000/975,000
Assessment Code Nigeria Usan 1,000,000 1,000,000 950,000/950,000 Increment Guidelines
Minas at Singapore Close PCABO00
Minas at Singapore Close Monthly Average AAFZH00
Angola Plutonio 1,000,000 1,000,000 950,000/950,000 As part of its commitment to open and transparent
Minas at London Close AAPAZ00 pricing and product specifications, Platts, part of
Minas at London Close Monthly Average AAPAZ03
Cinta at Singapore Close PCAAX00
Assessments not listed in the tables above will have S&P Global Commodity Insights, would like to invite
Cinta at Singapore Close Monthly Average AAFZC00 no volume amendments. feedback on its Global Oil Timing and Increment
Cinta at London Close AAPBJ00
Cinta at London Close Monthly Average AAPBJ03
Where the minimum and maximum volumes vary Guidelines, specifically the guidelines described in the
Widuri at Singapore Close PCAFE00 from the basis volume, Platts will publish bids, offers methodology guide posted online here.
Widuri at Singapore Close Monthly Average PCAFE03
Widuri at London Close AAPBN00
and trades for volumes within the range that are not Platts reviews all methodologies annually to ensure
Widuri at London Close Monthly Average AAPBN03 the basis volume, however, these may be subject to they continue to reflect the physical markets under
normalization for assessment purposes. assessment, and regularly assesses the relevance
Please send all feedback, comments or Please send all comments to of methodologies through continuous contact with
questions to [email protected] and [email protected] and the market. Feedback on methodologies is always
[email protected] by April 5. [email protected]. welcomed by Platts.
For written comments, please provide a clear For written comments and questions, please Please send all feedback, comments or
indication if comments are not intended for publication provide a clear indication if comments are not questions to [email protected] and
by Platts for public viewing. intended for publication by Platts for public viewing. [email protected].
Platts will consider all comments received and will Platts is part of S&P Global Commodity Insights. For written comments, please provide a clear
make comments not marked as confidential available indication if comments are not intended for publication
upon request. Chevron Products UK Limited to join EMEA - WAF by Platts for public viewing. Platts will consider all
Crude - Physical MOC comments received and will make comments not
Platts to amend cargo sizes for West African crude Chevron Products UK Limited has advised Platts, marked as confidential available upon request.
assessments part of S&P Global Commodity Insights, that it would
In line with evolving trends in the region, and loading like to participate in the Platts Market on Close Platts to amend assessment period, published
programs for 2024 cargoes, S&P Global Commodity assessment process for EMEA - WAF Crude - Physical. incoterms for WTI Midland DAP Augusta, Rotterdam
Insights will amend the cargo size on some of its West Platts has reviewed Chevron Products UK Limited assessments
African crude assessments, effective April 2. and will consider information from the entity in the In response to evolving practice in the WTI
Platts will amend the basis volume for the following assessment process for EMEA - WAF Crude - Physical, Midland delivered-Europe market and feedback from
assessments from April 2: subject at all times to adherence with Platts editorial participants, Platts, part of S&P Global Commodity

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

Commodity Insights Analytics US Yields & Netbacks Effective March 22, 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 100.69 AGGFA00 3.09 AGGCN00 97.60 AAQZB00 83.96 AGGCM00 12.73
Arab Berri BEGCY00 99.39 TDDAC00 1.32 BEGCN00 98.08 AAXCT00 87.93 BEGCM00 10.15
Arab Heavy AHGCY00 90.04 TDDAJ00 1.39 AHGCN00 88.65 AAXDI00 86.23 AHGCM00 2.42 Arab Heavy AHGOY00 96.49 TDDAJ00 1.39 AHGON00 95.11 AAXDI00 86.23 AHGOM00 8.88
Arab Light LIGCY00 96.80 TDDAR00 1.35 LIGCN00 95.45 AAXCU00 85.68 LIGCM00 9.77 Arab Light LIGOY00 99.51 TDDAR00 1.35 LIGON00 98.16 AAXCU00 85.68 LIGOM00 12.48
Arab Medium MEGCY00 92.08 TDDAZ00 1.35 MEGCN00 90.73 AAXDN00 86.68 MEGCM00 4.05 Arab Medium MEGOY00 95.92 TDDAZ00 1.35 MEGON00 94.57 AAXDN00 86.68 MEGOM00 7.89
Bakken BKGCY00 100.50 TDDRP00 7.78 BKGCN00 92.72 AAXPP00 78.19 BKGCM00 14.53
Basrah Heavy BHGOY00 92.61 BHGFA00 3.19 BHGON00 89.42 AALZC00 81.49 BHGOM00 12.96
Basrah Medium BLGCY00 89.71 TDDBS00 3.05 BLGCN00 86.66 BSMAM01 84.89 BLGCM00 5.85 Basrah Medium BLGOY00 95.05 TDDBS00 3.05 BLGON00 92.00 BSMAM01 84.89 BLGOM00 11.19
Bonny Light YLGCY00 103.14 TDDBX00 3.37 YLGCN00 99.77 PCAIC00 87.31 YLGCM00 11.55
Brent BRGCY00 99.83 TDDCB00 3.61 BRGCN00 96.21 AAVJA00 85.56 BRGCM00 9.74
Cabinda CBGCY00 100.67 TDDCF00 3.63 CBGCN00 97.04 PCAFD00 85.91 CBGCM00 10.22 Cabinda CBGOY00 98.57 TDDCF00 3.63 CBGON00 94.94 PCAFD00 85.91 CBGOM00 8.12
Castilla Blend CSGOY00 92.07 CSGFA00 2.48 CSGON00 89.59 AAVEQ00 76.30 CSGOM00 13.30
Eagle Ford EAGCY00 101.39 AAYAT00 81.98 EAGCM00 19.41
Escalante ECGCY00 98.63 TDDCV00 3.98 ECGCN00 94.65 PCAGC00 84.15 ECGCM00 9.52
Forties FTGCY00 99.31 FTGFA00 3.30 FTGCN00 96.01 PCADJ00 84.90 FTGCM00 10.20
Isthmus ISGCY00 97.89 TDDDJ00 1.52 ISGCN00 96.36 PDATO09 79.46 ISGCM00 16.90
LLS LLGCY00 102.19 TDDQW00 0.55 LLGCN00 101.64 PCABN00 84.88 LLGCM00 16.76 LLS LLGOY00 102.09 TDDQW00 0.55 LLGON00 101.54 PCABN00 84.88 LLGOM00 16.66
Mars MRGCY00 94.39 TDDQY00 0.55 MRGCN00 93.84 AAMBR00 80.83 MRGCM00 13.01 Mars MRGOY00 98.12 TDDQY00 0.55 MRGON00 97.57 AAMBR00 80.83 MRGOM00 16.74
Maya MYGCY00 80.95 TDDDP00 1.59 MYGCN00 79.36 PDATS09 73.41 MYGCM00 5.95 Maya MYGOY00 93.11 TDDDP00 1.59 MYGON00 91.52 PDATS09 73.41 MYGOM00 18.11
Napo NPGOY00 90.19 NPGFA00 5.48 NPGON00 84.72 AAMCA00 70.88 NPGOM00 12.97
Olmeca OLGCY00 100.47 TDDDY00 1.56 OLGCN00 98.90 PDATT09 81.06 OLGCM00 17.84
Oriente ORGOY00 95.92 ORGFA00 5.18 ORGON00 90.74 PCADE00 76.18 ORGOM00 13.74
Poseidon PDGCY00 95.48 PDGFA00 0.00 PDGCN00 95.48 AABHK00 80.03 PDGCM00 15.45
Saharan Blend SHGCY00 100.86 TDDRD00 2.40 SHGCN00 98.46 AAGZY00 85.93 SHGCM00 11.61
Syncrude SYGCY00 103.12 SYGFA00 8.52 SYGCN00 94.60 AASOK00 83.09 SYGCM00 11.51
Urals URGCY00 96.53 TDDFM00 3.87 URGCN00 92.66 AAWVH00 68.25 URGCM00 23.49 Urals URGOY00 98.71 TDDFM00 3.87 URGON00 94.84 AAWVH00 68.25 URGOM00 25.68
Vasconia VCGOY00 99.75 VCGFA00 2.41 VCGON00 97.34 PCAGI00 80.00 VCGOM00 17.35
WCS ex-Hardisty WHGOY00 94.54 TDDRS00 8.50 WHGON00 86.04 AAPPN00 66.99 WHGOM00 19.05
WCS ex-Nederland WNGOY00 94.54 WCGFA00 0.00 WNGON00 94.54 AAYAY00 74.49 WNGOM00 20.05
WTI WTGCY00 101.08 AAYRG00 82.63 WTGCM00 18.45
WTS WSGCY00 97.24 TDDRJ00 6.89 WSGCN00 90.35 PCACK00 81.58 WSGCM00 8.77 WTS WSGOY00 100.48 TDDRJ00 6.89 WSGON00 93.59 PCACK00 81.58 WSGOM00 12.01

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

US Midwest (PGA page 0823) US Midwest (PGA page 0821)
Bakken BKTCY00 105.43 TDDRO00 1.68 BKTCN00 103.75 AASRU00 79.34 BKTCM00 24.41
Syncrude SYTCY00 107.49 TDDFP00 8.20 SYTCN00 99.29 AASOK00 83.09 SYTCM00 16.20
WCS WCTOY00 99.36 TDDRL00 8.56 WCTON00 90.80 AAPPN00 66.99 WCTOM00 23.81
WTI WTTCY00 105.00 TDDRG00 2.39 WTTCN00 102.61 PCACG00 81.08 WTTCM00 21.53
WTS WSTCY00 101.99 TDDRI00 3.08 WSTCN00 98.91 PCACK00 81.58 WSTCM00 17.33 WTS WSTOY00 105.76 TDDRI00 3.08 WSTON00 102.67 PCACK00 81.58 WSTOM00 21.09
US West Coast (PGA page 0843) US West Coast (PGA page 0841)
ANS ANWCY00 112.69 PCAAD00 85.18 ANWCM00 27.51 ANS ANWOY00 115.39 PCAAD00 85.18 ANWOM00 30.21
Arab Light LIWOY00 117.34 TDDAT00 1.35 LIWON00 115.99 AAXCU00 85.68 LIWOM00 30.31
Arab Medium MEWOY00 112.42 TDDBB00 1.35 MEWON00 111.07 AAXDN00 86.68 MEWOM00 24.39
Bakken BKWCY00 118.88 TDDRT00 11.74 BKWCN00 107.14 AAXPP00 78.19 BKWCM00 28.95
Basrah Heavy BHWOY00 112.16 BHWFA00 3.58 BHWON00 108.58 AALZC00 81.49 BHWOM00 33.10
Basrah Medium BLWOY00 113.64 TDDBW00 3.42 BLWON00 110.21 BSMAM01 84.89 BLWOM00 30.38
Castilla Blend CSWOY00 115.57 CSWFA00 7.02 CSWON00 108.55 AAVEQ00 76.30 CSWOM00 31.38
Maya MYWOY00 111.66 MYWFA00 4.05 MYWON00 107.61 AAUPK00 76.71 MYWOM00 30.90
Napo NPWOY00 110.56 NPWFA00 6.16 NPWON00 104.41 AAMCA00 70.88 NPWOM00 32.66
Oriente ORWOY00 114.69 TDDEC00 5.82 ORWON00 108.87 PCADE00 76.18 ORWOM00 31.87
Vasconia VCWOY00 122.46 VCWFA00 6.77 VCWON00 115.68 PCAGI00 80.00 VCWOM00 34.85
US Atlantic Coast (PGA page 0811)
Crack Yield Freight Crack Netback Crude Price Crack Margin

Agbami AGACY00 97.44 AGAFA00 2.71 AGACN00 94.73 AAQZB00 83.96 AGACM00 9.86
Arab Light LIACY00 93.98 TDDAU00 1.35 LIACN00 92.63 AAXCU00 85.68 LIACM00 6.95
Bakken BKACY00 99.07 TDDRN00 7.20 BKACN00 91.87 AAXPP00 78.19 BKACM00 13.68
Bonny Light YLACY00 99.20 TDDBZ00 2.96 YLACN00 96.24 PCAIC00 87.31 YLACM00 8.02
Brent BRACY00 96.44 TDDCC00 2.83 BRACN00 93.61 AAVJA00 85.56 BRACM00 8.12
Cabinda CBACY00 98.65 TDDCH00 3.21 CBACN00 95.44 PCAFD00 85.91 CBACM00 8.62
CPC Blend CPACY00 98.74 CPAFA00 3.25 CPACN00 95.48 AALVX00 78.86 CPACM00 16.70
Forties FTACY00 98.62 FTAFA00 2.61 FTACN00 96.02 PCADJ00 84.90 FTACM00 11.19
Saharan Blend SHACY00 100.00 SHAFA00 1.97 SHACN00 98.03 AAGZY00 85.93 SHACM00 11.18
Urals URACY00 93.82 URAFA00 3.02 URACN00 90.80 AAWVH00 68.25 URACM00 21.64

Commodity Insights Analytics European Yields & Netbacks Effective March 22, 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 99.66 AGNFA00 2.65 AGNCN00 97.01 AAQZB00 83.96 AGNCM00 13.05 Agbami AGMCY00 98.11 AGMFA00 2.52 AGMCN00 95.59 AAQZB00 83.96 AGMCM00 11.64
Arab Berri BENCY00 99.55 BENFA00 1.32 BENCN00 98.24 AAXDU00 88.13 BENCM00 10.11
Arab Heavy AHNCY00 89.65 TDDAN00 1.39 AHNCN00 88.26 AAXDH00 82.93 AHNCM00 5.33 Arab Heavy AHMCY00 89.47 TDDAI00 1.39 AHMCN00 88.09 AAXDH00 82.93 AHMCM00 5.76
Arab Light LINCY00 97.05 TDDAV00 1.35 LINCN00 95.69 AAXDK00 86.33 LINCM00 9.36 Arab Light LIMCY00 95.76 TDDAQ00 1.35 LIMCN00 94.41 AAXDK00 86.33 LIMCM00 8.58
Arab Medium MENCY00 91.96 TDDBD00 1.36 MENCN00 90.60 AAXDM00 85.63 MENCM00 4.97 Arab Medium MEMCY00 91.13 TDDAY00 1.37 MEMCN00 89.76 AAXDM00 85.63 MEMCM00 4.43
Azeri Light ZLNCY00 101.78 TDDBI00 2.68 ZLNCN00 99.09 AATHM00 84.09 ZLNCM00 13.47 Azeri Light* ZLMCY00 100.05 AAGZX00 87.17 ZLMCM00 12.89
Basrah Medium BLNCY00 89.96 TDDBU00 3.93 BLNCN00 86.03 BSMAM01 84.89 BLNCM00 5.68 Basrah Medium BLMCY00 89.30 TDDBR00 2.83 BLMCN00 86.47 BSMAM01 84.89 BLMCM00 6.12
Bonny Light YLNCY00 102.71 YLNFA00 2.90 YLNCN00 99.81 PCAIC00 87.31 YLNCM00 12.51 Bonny Light YLMCY00 100.86 YLMFA00 2.76 YLMCN00 98.10 PCAIC00 87.31 YLMCM00 10.79
Brent BRNCY00 99.26 TDDCD00 2.60 BRNCN00 96.65 AAVJA00 85.56 BRNCM00 11.09
Cabinda CBNCY00 98.62 TDDQR00 3.16 CBNCN00 95.46 PCAFD00 85.91 CBNCM00 9.56 Cabinda CBMCY00 97.22 CBMFA00 3.02 CBMCN00 94.20 PCAFD00 85.91 CBMCM00 8.30
CPC Blend CPNCY00 99.61 CPNFA00 4.10 CPNCN00 95.51 AALVX00 78.86 CPNCM00 16.66 CPC Blend* CPMCY00 97.68 AAGZU00 82.03 CPMCM00 15.65
Dubai DBNCY00 95.63 DBNFA00 3.68 DBNCN00 91.94 PCAAT00 85.15 DBNCM00 5.80
Eagle Ford EANCY00 99.97 EANFA00 4.55 EANCN00 95.41 AAYAT00 81.98 EANCM00 13.36 Eagle Ford EAMCY00 98.50 TNEIF00 4.80 EAMCN00 93.70 AAYAT00 81.98 EAMCM00 11.65
Ekofisk EKNCY00 100.49 TDDCT00 1.68 EKNCN00 98.81 PCADI00 87.77 EKNCM00 11.04
Forties FTNCY00 99.29 TDDEZ00 1.97 FTNCN00 97.32 PCADJ00 84.90 FTNCM00 12.42 Forties FTMCY00 97.77 FTMFA00 2.66 FTMCN00 95.12 PCADJ00 84.90 FTMCM00 10.22
Iran Heavy BHNCY00 95.29 TDDDG00 3.89 BHNCN00 91.41 AIHKA00 81.15 BHNCM00 9.34 Iran Heavy BHMCY00 94.41 TDDDF00 2.78 BHMCN00 91.63 AIHKA00 81.15 BHMCM00 9.56
Johan Sverdrup JSNCY00 96.83 JSNFA00 2.08 JSNCN00 94.74 AJSVA00 83.07 JSNCM00 11.67 Johan Sverdrup JSMCY00 95.68 JSMFA00 2.82 JSMCN00 92.86 AJSVA00 83.07 JSMCM00 9.79
Kirkuk KRNCY00 95.84 TDDGH00 4.02 KRNCN00 91.82 AAEJD00 83.95 KRNCM00 8.17 Kirkuk KRMCY00 94.63 TDDFF00 2.20 KRMCN00 92.43 AAEJD00 83.95 KRMCM00 8.79
LLS LLNCY00 102.73 LLNFA00 4.79 LLNCN00 97.94 AAQBB00 85.02 LLNCM00 12.99 LLS LLMCY00 100.89 LLMFA00 5.04 LLMCN00 95.85 AAQBB00 85.02 LLMCM00 10.90
Maya MYNCY00 83.11 MYNFA00 4.89 MYNCN00 78.21 AAYXE00 74.78 MYNCM00 3.43
Oman OMNCY00 96.14 OMNFA00 3.62 OMNCN00 92.52 PCABS00 85.15 OMNCM00 6.39 Oman OMMCY00 95.33 OMMFA00 2.53 OMMCN00 92.80 PCABS00 85.15 OMMCM00 6.68
Saharan Blend SHNCY00 100.67 TDDGI00 2.53 SHNCN00 98.14 AAGZY00 85.93 SHNCM00 12.21 Saharan Blend SHMCY00 98.60 TDDFG00 1.84 SHMCN00 96.76 AAGZY00 85.93 SHMCM00 10.83
Urals* URNCY00 97.37 PCAFW00 71.71 URNCM00 25.66 Urals* URMCY00 95.54 PCACE00 72.73 URMCM00 22.81
WTI MEH WTNCY00 100.01 WTNFA00 4.63 WTNCN00 95.38 AAYRZ00 82.77 WTNCM00 12.68
*Indicates the crude price is a CIF value
Commodity Insights Analytics Asian yields & netbacks effective March 22, 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 93.56 AGSFA00 2.76 AGSCN00 90.79 AAQZB00 83.96 AGSCM00 6.92 Forties FTSCY00 92.38 TNEFD00 3.68 FTSCN00 88.70 PCADJ00 84.90 FTSCM00 3.88
Arab Berri BESCY00 92.38 BESFA00 1.69 BESCN00 90.69 AAXDV00 86.65 BESCM00 4.04 Kimanis KISCY00 101.08 KISFA00 1.47 KISCN00 99.61 AASCL00 95.93 KISCM00 3.68
Arab Heavy AHSCY00 84.21 TDDAO00 1.76 AHSCN00 82.46 AAXDG00 84.85 AHSCM00 -2.39 LLS LLSCY00 95.26 LLSFA00 4.16 LLSCN00 91.10 AAZDC00 84.97 LLSCM00 6.23
Arab Light LISCY00 90.69 TDDAW00 1.73 LISCN00 88.96 AAXDJ00 86.65 LISCM00 2.31 Mars MRSCY00 88.75 MRSFA00 4.30 MRSCN00 84.45 AAMBR00 80.83 MRSCM00 3.63
Arab Medium MESCY00 86.16 TDDBE00 1.74 MESCN00 84.42 AAXDL00 85.70 MESCM00 -1.27 Maya MYSCY00 82.74 MYSFA00 4.51 MYSCN00 78.23 AAYXG00 76.00 MYSCM00 2.23
Basrah Medium BHSCY00 86.04 BHSFA00 1.85 BHSCN00 84.19 BSMAM01 84.89 BHSCM00 -0.16 Minas MNSCY00 95.43 TDDDX00 1.48 MNSCN00 93.95 PCABO00 81.06 MNSCM00 12.89
Bonny Light YLSCY00 96.12 YLSFA00 2.98 YLSCN00 93.14 PCAIC00 87.31 YLSCM00 5.92 Oman OMSCY00 87.97 TDDEB00 1.56 OMSCN00 86.40 PCABS00 85.15 OMSCM00 1.26
Cabinda CBSCY00 94.48 TDDQS00 2.87 CBSCN00 91.62 PCAFD00 85.91 CBSCM00 5.79 Qua lboe QBSCY00 96.61 QBSFA00 2.98 QBSCN00 93.63 PCAID00 87.91 QBSCM00 5.81
Castilla CSSCY00 80.15 CSSFA00 4.60 CSSCN00 75.54 AAVEQ00 76.30 CSSCM00 -0.74 Saharan Blend SHSCY00 92.09 SHSFA00 2.87 SHSCN00 89.22 AAGZY00 85.93 SHSCM00 2.53
Dalia DLSCY00 95.39 DLSFA00 2.97 DLSCN00 92.42 AAQYX00 84.06 DLSCM00 8.44 Tapis TPSCY00 94.72 TDDEO00 1.44 TPSCN00 93.28 PCACB00 88.93 TPSCM00 4.35
Dubai DBSCY00 90.13 TDDCQ00 1.64 DBSCN00 88.49 PCAAT00 85.15 DBSCM00 3.35 Tupi* LUSCY00 93.86 LUQDA00 87.08 LUSCM00 7.32
Duri DRSCY00 95.37 TDDCR00 1.62 DRSCN00 93.75 PCABA00 90.63 DRSCM00 3.12 Urals URSCY00 90.38 URSFA00 3.03 URSCN00 87.34 AAGZS00 68.25 URSCM00 19.17
Eagle Ford EASCY00 93.99 EASFA00 3.99 EASCN00 90.00 AAYAT00 81.98 EASCM00 8.03 WTI MEH WTSCY00 93.80 WTSFA00 4.05 WTSCN00 89.75 AAZDF00 82.67 WTSCM00 7.13
ESPO ESSCY00 93.44 ESSFA00 1.48 ESSCN00 91.96 AARWF00 81.24 ESSCM00 10.72
*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 22, 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 22, 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)

from Iraq’s SOMO compared with March, with the

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

Trades BNB (CIF)

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

PLATTS DUBAI: MAY24: VITOL NO LONGER OFFERS Freight Adjustment Factors

25KB AT $85.14 (08:29:31) 10:30 London Time

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

PLATTS DUBAI: MAY24: TRAFIGURA BUYS FROM 16:30 London Time

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

PETROCHINA* 25KB AT $85.14 (08:29:59) Mediterranean spot crude assessments ($/barrel)

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

Market Analysis LOOP/WTI (Jun)

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over May. US spot crude assessments (continued)

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

This assessment commentary applies to the

Americas close ($/barrel) (PGA page 210)

 Troll cargo nominated into BFOE forward chains

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

unchanged April 3-21 with a flat structure rolled over

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

Bids, Offers, Trades

PETROINEOS BIDS 100KB AT $0.45

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PLATTS BRENT DIFF: APR8-APR12 (JUN): ONYX BIDS Futures Settlements

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

IMPLIED: PLATTS CASH BFOE: JUN24: PETROINEOS Futures Settlements (continued)

PLATTS BRENT DIFF: APR8-APR12 (JUN):

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

Reported spot cash transactions (PGA page 3)

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

Reported spot cash transactions (PGA page 3)

3/22/2024 May 1 31 Murban Heard 1.45 Dubai 500,000 Sinochem PTT

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

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

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

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

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

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

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

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

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. 24

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

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)

Troll cargo nominated into BFOE forward chains