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Crude Oil Marketwire

Volume 46 / Issue 5 / January 8, 2025

Key benchmarks ($/barrel) Brent/WTI spreads and EFPs (PGA page 218) Market Commentary
Mid Change Mid Change
(PGA page 2210) Brent/WTI 1st AALAU00 3.57/3.59 3.580 +0.030
Dubai (Mar) PCAAT00 77.65–77.67 77.660 +1.340 Brent/WTI 2nd AALAV00 3.54/3.56 3.550 +0.170 Platts Middle East Sour Crude Daily Market
Dubai (Apr)
Dubai (May)
PCAAU00
PCAAV00
76.78–76.80
76.04–76.06
76.790
76.050
+1.410
+1.330
Brent/WTI 3rd AALAY00
Brent EFP (Mar) AAGVX00 0.10/0.12
3.490
0.110
+0.170
0.000
Analysis
MEC (Mar) AAWSA00 77.65–77.67 77.660 +1.340 Brent EFP (Apr) AAGVY00 0.15/0.17 0.160 +0.140
MEC (Apr) AAWSB00 76.78–76.80 76.790 +1.410 Brent EFP (May) AAMVY00 0.160 +0.140 „ Traders digest news of Shandong Port ban on US-
MEC (May) AAWSC00 76.04–76.06 76.050 +1.330 WTI EFP (Feb) AAGVT00 -0.01/0.01 0.000 0.000 sanctioned ships
Brent/Dubai (Mar) AAJMS00 0.03/0.05 0.040 +0.130 WTI EFP (Mar) AAGVU00 -0.01/0.01 0.000 0.000
(PGA page 1212) WTI EFP (Apr) AAGVV00 -0.01/0.01 0.000 0.000 „ QatarEnergy issues February OSPs
Brent (Dated) PCAAS00 77.23–77.24 77.235 -0.655
Dated North Sea Light AAOFD00 77.23–77.24 77.235 -0.655 „ GME Oman crude futures open interest fall 1.7%
Dated Brent (CIF) PCAKM00 78.090 -0.720 Middle East ($/barrel) at end Dec
Brent (Mar) PCAAQ00 76.26–76.28 76.270 -0.720
(PGA page 2210) Mid Change
Brent (Apr) PCAAR00 75.67–75.69 75.680 -0.600 Oman (Mar) PCABS00 77.70–77.72 77.710 +1.390
Brent (May) PCARR00 75.190 -0.590 Oman (Apr) 76.83–76.85 76.840 +1.460
AAHZF00
Asian sour crude traders Jan. 8 were digesting the
Sulfur de-escalator AAUXL00 0.25 Oman (May) AAHZH00 76.09–76.11 76.100 +1.380 .
Oseberg QP (Jan)
Oseberg QP (Feb)
AAXDW00
AAXDX00
0.8171
0.9125
Upper Zakum (Mar) AAOUQ00 77.64–77.68 77.660 +1.340 recent news of a ban by Shandong Port group on US-
Murban (Mar) AAKNL00 77.73–77.77 77.750 +1.400
Ekofisk QP (Jan) AAXDY00 0.3761 Murban (Apr) MBNSA00 76.880 +1.470
sanctioned vessels, with most seeing minimal impact
Ekofisk QP (Feb) AAXDZ00 0.5228
Troll QP (Jan) ATFNB00 0.9006
Murban (May) MBNSB00 76.140 +1.390 from the measure, while more February producer crude
Al Shaheen AAPEV00 77.64–77.68 77.660 +1.340
Troll QP (Feb) ATFNA00 0.9257 Spread vs Dubai oil official selling prices were seen.
(PGA page 210) Dubai DBDDC00 1.610 +0.010 (continued on page 3)
Platts AGS AGSAA00 74.770 -1.010 Oman DBDOC00 1.660 +0.060
WTI FOB USGC Decades Avg ADECA00 74.670 -0.980 Murban AARBZ00 1.700 +0.070
WTI (Feb) PCACG00 73.31–73.33 73.320 -0.930
WTI (Mar) PCACH00 72.66–72.68 72.670 -0.900
Al Shaheen
Upper Zakum
AAPEW00
DBDUZ00
1.56–1.66 1.610
1.610
+0.010
+0.010
Contents
WTI (Apr) AAGIT00 72.15–72.17 72.160 -0.850 Quality Premiums
Light Houston Sweet AAXEW00 74.320 -0.980 Platts Oil Mideast Sour Crude Convergences. ......................... 4
Murban QP AASVA00 0.0000
Light Houston Sweet M2 AAYRY00 73.820 -0.900
LOOP Sour (Feb) AALSM01 73.520 -0.930 (PGA page 2658) Platts Middle East Sour Crude Bids, Offers, Trades..................... 4
LOOP Sour (Mar) AALSM02 72.770 -0.950 Dubai Swap (Feb) AAHBM00 76.77–76.81 76.790 +1.410
Dubai Swap (Mar) AAHBN00 76.03–76.07 76.050 +1.330 Platts Dubai Derivatives Bids Summary. ............................... 7
LOOP Sour (Apr) AALSM03 72.110 -0.900
Dubai Swap (Apr) AAHBO00 75.41–75.45 75.430 +1.250
Bakken AAXPP00 69.210 -1.030 Platts Dubai Derivatives Offers Summary. ............................. 7
Eagle Ford Marker AAYAJ00 74.100 -0.800
ACM* (Feb) AAQHN00 72.11–72.13 72.120 -0.930 Platts Dubai Derivatives Trades Summary.............................. 8
ACM* (Mar) AAQHO00 71.36–71.38 71.370 -0.950
ACM* (Apr) AAQHP00 70.70–70.72 70.710 -0.900 Platts Dubai Derivatives Exclusions. ................................... 8
*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
North Sea Dated strip AAKWH00 76.74–76.76 76.750 -0.930 Platts North Sea Crude Daily Market Analysis.......................... 11
Mediterranean Dated strip AALDF00 76.75–76.76 76.755 -0.950
33-63 Day Dated strip AALEJ00 75.83–75.84 75.835 -0.790 Platts North Sea Dated Brent, BFOE, CFD Bids, Offers, Trades. ........ 13
BTC Dated strip AAUFI00 76.66–76.67 76.665 -0.910
CPC Dated strip AAUFP00 76.29–76.30 76.295 -0.810 Platts WTI Midland Crude DAP Europe Bids, Offers, Trades............ 20
15-45 Day Dated strip AALGM00 76.40–76.41 76.405 -0.855
30-60 Day Dated strip AAXRK00 75.90–75.92 75.910 -0.795 Platts Mediterranean & Black Sea Sweet Crude Daily Commentary. .. 20
North Sea CIF Dtd strip AAHXE00 76.715 -0.930
Platts EMEA Urals & Med Brent Crude Bids, Offers, Trades............ 20
33-53 Day Dated Strip ADBRA00 75.950 -0.800
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Crude Oil Marketwire January 8, 2025

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 72.07–72.11 72.090 +1.220 AAPAI00 -4.650 -0.100 AAPAH00 71.440 -0.880
Ichthys FC 48.9 ICFCA00 78.790 +1.220 ICFCB00 2.050 -0.100
DFC 56.82 ADFCA00 77.73–77.77 77.750 +1.330 ADFCB00 1.65/1.75 1.700 0.000 ADFCC00 1.010 +0.010 ADFCD00 76.420 -0.730
Qatar LSC 56.9 AARBB00 77.38–77.42 77.400 +1.330 AARBD00 1.30/1.40 1.350 0.000 AARBC00 0.660 +0.010 AARBA00 76.070 -0.730
South Pars 57.4 AARAV00 72.58–72.62 72.600 +1.330 AARAX00 -3.50/-3.40 -3.450 0.000 AARAW00 -4.140 +0.010 AARAU00 71.270 -0.730
Diff to ICP
Senipah 54.4 AAEOE00 68.92–68.96 68.940 +1.220 AAEOK00 -4.00/-3.90 -3.950 -0.050 AAPBE00 -7.800 -0.100 AAPBD00 68.290 -0.880
Senoro 59.7 SFOBI00 69.140 +1.220 SIICP00 -3.850 -0.050 SFOBS00 -7.600 -0.100 SFOBL00 68.490 -0.880
Light crude (PGA page 2214) (PGA page 2215)
Diff to ICP Diff to Asian Dated Brent
Cossack 47.7 PCAGZ00 77.97–78.01 77.990 +1.220 AAPAC00 1.250 -0.100 AAPAB00 77.340 -0.880
Tapis 45.2 PCACB00 79.62–79.66 79.640 +1.420 AAOZW00 2.900 +0.100 AAOZV00 78.990 -0.680
Belida 45.1 PCAFL00 73.22–73.26 73.240 +1.220 PCAFM00 -1.80/-1.70 -1.750 -0.050 AAPBQ00 -3.500 -0.100 AAPBP00 72.590 -0.880
Kutubu 44.3 PCAFJ00 76.47–76.51 76.490 +1.220 AAPAE00 -0.250 -0.100 AAPAD00 75.840 -0.880
Attaka 42.3 PCAAJ00 73.12–73.16 73.140 +1.220 PCAAK00 -1.85/-1.75 -1.800 -0.050 AAPBC00 -3.600 -0.100 AAPBB00 72.490 -0.880
Ardjuna 38 PCACQ00 71.87–71.91 71.890 +1.420 PCACR00 -2.40/-2.30 -2.350 +0.050 AAPBG00 -4.850 +0.100 AAPBF00 71.240 -0.680
Banyu Urip 32 PCAFQ00 77.090 +1.420 PCAQQ00 0.250 +0.050 AAPBU00 0.350 +0.100 AAPBR00 76.440 -0.680
Diff to Dubai
Sakhalin Blend 45.5 AARBN00 75.18–75.22 75.200 +1.280 AARCN00 -0.90/-0.80 -0.850 -0.050 AARDN00 -1.540 -0.040 AAREN00 73.870 -0.780
ESPO M1 34.8 AARWF00 74.28–74.32 74.300 +1.380 AASEU00 -1.80/-1.70 -1.750 +0.050
ESPO M2 34.8 AAWFE00 73.66–73.70 73.680 +1.300 AAWFG00 -1.80/-1.70 -1.750 +0.050 .
Sokol 39.7 AASCJ00 76.53–76.57 76.550 +1.330 AASCK00 0.45/0.55 0.500 0.000 AAPAO00 -0.190 +0.010 AAPAN00 75.220 -0.730
Kikeh 34.9 AAWUH00 83.07–83.11 83.090 +1.420 AAOZY00 6.350 +0.100 AAOZX00 82.440 -0.680
Miri Light 32.3 PCABQ00 82.07–82.11 82.090 +1.420 AAPAS00 5.350 +0.100 AAPAR00 81.440 -0.680
Labuan 32 PCABL00 83.07–83.11 83.090 +1.420 AAPAQ00 6.350 +0.100 AAPAP00 82.440 -0.680
Kimanis 38.6 AASCL00 83.540 +1.420 AASCM00 6.800 +0.100 AASCN00 82.890 -0.680
Medium crude (PGA page 2216) (PGA page 2217)
Diff to Asian Dated Brent
Su Tu Den 36.8 AARAR00 80.37–80.41 80.390 +1.420 AARAS00 3.650 +0.100 AARAQ00 79.740 -0.680
Bach Ho 40.7 PCAHY00 82.02–82.06 82.040 +1.420 AAPAK00 5.300 +0.100 AAPAJ00 81.390 -0.680
Nanhai 40 PCAFR00 68.42–68.46 68.440 +1.420 AAPAG00 -8.300 +0.100 AAPAF00 67.790 -0.680
Nile Blend 33.9 AAPLC00 72.02–72.06 72.040 +1.320 AAPAM00 -4.700 0.000 AAPAL00 71.390 -0.780
Daqing 32.2 PCAAZ00 76.72–76.76 76.740 +1.270 AAPAW00 0.000 -0.050 AAPAV00 76.090 -0.830
Heavy crude (PGA page 2218) (PGA page 2219)
Diff to ICP Diff to Asian Dated Brent
Dar Blend 25 AARAB00 71.37–71.41 71.390 +1.320 AARAC00 -5.350 0.000 AARAA00 70.740 -0.780
Shengli 24.2 PCABY00 76.12–76.16 76.140 +1.270 AAPAY00 -0.600 -0.050 AAPAX00 75.490 -0.830
Duri 20.8 PCABA00 79.42–79.46 79.440 +1.270 PCABB00 1.30/1.40 1.350 -0.050 AAPBM00 2.700 -0.050 AAPBL00 78.790 -0.830
Vincent 18.3 AARAK00 84.740 +1.270 AARAL00 8.000 -0.050 AARAJ00 84.090 -0.830

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 79.030 +1.450 WTMSD00 3.600 +0.200 WTMSB00 2.840 +0.220
WTI Midland (DES Yeosu) WTMYA00 79.630 +1.450 WTMYD00 4.200 +0.200 WTMYB00 3.440 +0.220
Brazil Delivered-Asia Spot Crudes
Tupi (DES Qingdao) LUQDA00 79.630 +2.050 LUQDD00 4.200 +0.800 LUQDB00 3.440 +0.820
Canada Delivered-Asia Spot Crudes
Pacific Cold Lake PCASK00 71.300 +1.330 PCBSK00 -4.750 0.000 PCCSK00 -5.440 +0.010
(CFR South Korea)
Pacific Dilbit PCDSK00 70.500 +1.330 PCESK00 -5.550 0.000 PCFSK00 -6.240 +0.010
(DES East China)
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Crude Oil Marketwire January 8, 2025

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

Mid Change Spread vs Dubai Mid Change Spread vs OSP Mid Change
Umm Lulu AUFAA00 78.000 +1.400 DBDUL00 1.950 +0.070
Das Blend AAXOF00 77.33–77.37 77.350 +1.400 DBDDS00 1.300 +0.070
Qatar Land AAKNP00 76.93–76.97 76.950 +1.400 QALDA00 0.900 +0.070 AAKUJ00 0.15/0.25 0.200 +0.250
Qatar Marine AAKNR00 77.08–77.12 77.100 +1.350 QAMDA00 1.050 +0.020 AAKUH00 0.05/0.15 0.100 +0.100
Banoco Arab Medium AAKNT00 76.68–76.72 76.700 +1.350 AAKUD00 -0.65/-0.55 -0.600 0.000
Basrah Medium M1 BSMAM01 – 77.300 +1.400 BSMBM01 0.600 -0.050
Basrah Medium M2 BSMAM02 – 76.400 +1.350 BSMBM02 0.000 0.000
Basrah Heavy M1 AALZC00 – 74.250 +1.400 AALZJ00 0.700 -0.050
Basrah Heavy M2 AALZD00 – 73.350 +1.350 AALZK00 0.100 0.000

China’s Shandong Port Group, whose terminals are

Asian market parity prices ($/barrel) (PGA page 2280)
(Asia close) (London close)
often used by Chinese independent refineries that rely Mid Change Mid Change
on Iranian, Russian and Venezuelan crude, confirmed Minas PCABO00 75.670 +1.750 AAPAZ00 75.020 -0.350
on Jan. 7 it has blacklisted ships sanctioned by the US Cinta PCAAX00 75.020 +1.780 AAPBJ00 74.370 -0.320
Widuri PCAFE00 75.890 +1.855 AAPBN00 75.240 -0.245
Treasury Department’s Office of Foreign Asset Control, Cambay AMPPA00 76.730 +1.425
S&P Global Commodity Insights reported earlier. Ravva AMPPB00 80.725 +1.630
Rajasthan AMPPC00 76.780 +1.865
Asian crude traders were mostly greeting the news
.
with caution. While the ban appeared to target Chinese
imports of Russian and Iranian crudes, both of which Asian Crude Indices ($/barrel) (PGA page 2206)
were highly favored among Chinese independent 16:30 Singapore Interim Asian Close Diff to Dated Brent Final London Close
Asian Dated Brent (ADB) AAXPG00 78.600
refiners, several traders noted that many refiners had ADB Strip Asia AARBV00 76.740 AARBX00 76.090
already distanced themselves from sanctioned crudes ADB Strip Middle East AARBW00 76.740 AARBY00 75.410
ADB Strip M3 ADBS003 76.190
or ships prior to the announcement.
For definitions see http://www.platts.com/IM.Platts.Content/MethodologyReferences/MethodologySpecs/Crude-oil-methodology.pdf
“Actually, before the notice, Chinese ports were
already not accepting sanctioned ships. It’s more of
just making it official,” a trader at the Singapore-based
arm of an independent refiner said. “There have been many self-tightening measures Zhao said.
A shipbroking source echoed this, noting that in the past. This latest ban will mainly affect Malaysia- Middle East crude differentials have notably
“Shandong port has always officially banned blended crudes,” the latter trader said, referring to showed little-change in response to the news, with
sanctioned vessels from calling, and this time is no the practice of Iranian barrels being STS transferred benchmark Platts cash Dubai over same-month Dubai
different.” in Malaysian waters and rebranded as Malaysia-origin futures most recently assessed at a premium of $1.61/b
“It will depend on the degree of enforcement,” the grades before being sent to China. at the Jan. 8 Asian close, up marginally from a premium
shipbroker said. Commodity Insights research analyst Kevin Zhao of $1.59/b at the start of the trading week Jan. 6.
While one Chinese trader said prices of staple Far said independent refiners will have to seek alternative Platts cash Oman meanwhile was assessed at a
East Russian grades such as ESPO blend and Sokol options to discharge such cargoes, which could push premium of $1.66/b over the same marker Jan. 8, up 6
crude could weaken in response to the ban, another up costs. cents/b over the same period.
trader from a Chinese major expected little impact “They will have to seek legitimate candidates to QatarEnergy was the latest to issue its February
given that it was the latest in a slew of self-imposed transfer cargoes, and this will push up their shipping producer crude oil official selling prices. It set the
measures by Chinese authorities in the past. costs and lower the margin, discouraging production,” February 2025 OSP differential for Qatar Marine at plus

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Crude Oil Marketwire January 8, 2025

45 cents/b against the average of Platts Dubai crude North Sea spot crude assessments ($/barrel) (PGA page 1212)
Mid Change Spread vs fwd Dated Brent Mid Change
assessments, up 30 cents/b on the month, while that
Dated Brent Diff AAXEZ00 0.48/0.49 0.485 +0.275
for Qatar Land was set at plus 30 cents/b against the BNB AAVJA00 77.54–77.56 77.550 -0.495 AAVJB00 0.79/0.81 0.800 +0.435
Forties 77.35–77.37 77.360 -0.600 0.60/0.62 0.610 +0.330
same average, up 15 cents/b. PCADJ00 AAGWZ00
Oseberg PCAEU00 78.66–78.67 78.665 -0.875 AAGXF00 1.91/1.92 1.915 +0.055
In exchange data, open interest for GME Oman Ekofisk PCADI00 78.06–78.07 78.065 -0.875 AAGXB00 1.31/1.32 1.315 +0.055
Troll 78.71–78.72 78.715 -0.875 1.96/1.97 1.965 +0.055
crude oil futures fell 1.7% on the month to 15,113 lots on AAWEX00 AAWEY00
FOB N Sea WTI Midland ALNDA00 77.360 -0.575 ALNDB00 0.610 +0.355
Dec. 31, Gulf Mercantile Exchange data showed, while Statfjord PCAEE00 78.04–78.06 78.050 -0.880 AAGXD00 1.29/1.31 1.300 +0.050
Flotta Gold 75.84–75.86 75.850 -0.880 -0.91/-0.89 -0.900 +0.050
total traded volumes fell 1.36% month over month to PCACZ00 AAGXH00
Duc AAWEZ00 78.09–78.11 78.100 -0.880 AAWFL00 1.34/1.36 1.350 +0.050
93,550 lots in December. Grane Blend PCALA00 75.800 -0.930 PCALB00 -0.950 0.000
Johan Sverdrup AJSVA00 75.490 -0.955 AJSVB00 -1.260 -0.025
Platts is part of S&P Global Commodity Insights.
Statfjord (CIF) AASAS00 79.11–79.12 79.115 -0.880 AASAT00 2.39/2.41 2.400 +0.050
Gullfaks (CIF) AASAU00 79.31–79.32 79.315 -0.880 AASAV00 2.59/2.61 2.600 +0.050
Platts Mideast Sour Crude Daily Rationales & Alvheim (CIF)
Asgard (CIF)
ALVHA00
ASGCA00
79.365 -0.880
77.965 -0.880
ALVHB00
ASGCB00
2.650
1.250
+0.050
+0.050
Exclusions North Sea basket AAGIZ00 77.90–77.92 77.910 -0.710
Dubai Mo01 <PCAAT00> assessment rationale: North Sea Dated Strip AAKWH00 76.74–76.76 76.750 -0.930
European Sour Crude Index CSBEA00 75.601 -0.944 CSBEB00 -1.149 -0.014
The March cash Dubai assessment Jan. 8 took into Spread vs fwd CIF Dated Brent
consideration bids and offers for cash Dubai partials Dated Brent (CIF) AAVJG00 78.090 -0.720 AAVJF00 1.375 +0.210
BNB (CIF) PCAKP00 79.335 -0.540 AAVJC00 2.620 +0.390
that traded at $77.67/b toward the end of the Platts Forties (CIF) PCAKR00 78.120 -0.765 AAHXC00 1.405 +0.165
Market on Close assessment process, as well as Oseberg (CIF) PCAKT00 79.800 -0.920 AAHXD00 3.085 +0.010
Ekofisk (CIF) PCAKV00 79.050 -0.910 AAHXB00 . 2.335 +0.020
standing offers at $77.67/b at the end of the MOC. Troll (CIF) AAXJO00 79.845 -0.915 AAXJN00 3.130 0.015
Oman Blend Mo01 <PCABS00> assessment WTI Midland (CIF) WMCRD00 78.355 -0.590 WMCRB00 1.640 +0.340
Johan Sverdrup (CIF) AJSWA00 76.640 -1.010 AJSWB00 -0.075 -0.080
rationale: The March cash Oman assessment Jan. 8 North Sea CIF Dated Strip AAHXE00 76.715 -0.930
took into consideration values heard in the broader
market and Oman’s notional spread to cash Dubai.
Exclusions: No market data was excluded from Grades demonstrating Dated Brent (relates to North Sea rationale: PGA page 1297)
the Middle East sour crude Platts Market on Close
Date FOB Dated Brent Grade Date FOB Dated Brent Grade
assessment process.
18/01/2025 0.5423 Forties 31/01/2025 0.4673 WTI Midland
Platts Oil Mideast Sour Crude 19/01/2025 0.5423 Forties 01/02/2025 0.4673 WTI Midland

Convergences
20/01/2025 0.5423 Forties 02/02/2025 0.4673 WTI Midland
21/01/2025 0.2346 Forties 03/02/2025 0.4673 WTI Midland
22/01/2025 0.2346 Forties 04/02/2025 0.4673 WTI Midland
23/01/2025 0.5423 Forties 05/02/2025 0.4673 WTI Midland
None reported. 24/01/2025 0.7673 WTI Midland 06/02/2025 0.4673 WTI Midland
25/01/2025 0.4846 Forties 07/02/2025 0.4673 WTI Midland

Platts Middle East Sour Crude Bids, Offers,

26/01/2025 0.4846 Forties 08/02/2025 0.4673 WTI Midland
27/01/2025 0.4846 Forties
Trades 28/01/2025 0.5673 WTI Midland
29/01/2025 0.5173 WTI Midland
30/01/2025 0.4673 WTI Midland
Bids:
PLATTS DUBAI: MAR25: BP BIDS 25KB AT $77.61
PLATTS DUBAI: MAR25: PETROCHINA BIDS 25KB
AT $77.55

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Crude Oil Marketwire January 8, 2025

PLATTS DUBAI: MAR25: PETROCHINA BIDS 25KB Freight Adjustment Factors

($/barrel) Change
AT $77.55
Sullom Voe-Rotterdam FSVRM00 1.6320 -0.0121
PLATTS DUBAI: MAR25: GUNVOR BIDS 25KB Hound Point-Rotterdam FHPRM00 1.1654 -0.0084
Sture-Rotterdam FSTRM00 1.0480 -0.0075
AT $77.55
Teesside-Rotterdam FTSRM00 0.9066 -0.0064
PLATTS DUBAI: MAR25: VITOL BIDS 25KB AT $77.40 Mongstad-Rotterdam FMGRM00 1.0427 -0.0074
North Sea-Rotterdam FSFRM00 1.0327 -0.0074
PLATTS DUBAI: MAR25: SHENGHONG BIDS 25KB
AT $77.15 (%)
FAF Weighting FAFWA00 0.80
PLATTS DUBAI: MAR25: TOTAL NO LONGER BIDS
AFTER TRADE
PLATTS DUBAI: MAR25: MERCURIA NO LONGER
European US Spot Crude Assessments ($/barrel) (PGA page 1238)
Mid Change Spread vs fwd Dated Brent Mid Change
BIDS AFTER TRADE WTI Midland (DAP Rotterdam) AWTIC00 77.800 -0.735 AWTID00 1.850 +0.065
PLATTS DUBAI: MAR25: MITSUI NO LONGER BIDS WTI Midland (DAP Augusta) AWTIA00 78.250 -0.735 AWTIB00 2.300 +0.065
AFTER TRADE
Offers: Dated Brent/BFOE swaps ($/barrel) (PGA page 1214)
PLATTS DUBAI: MAR25: SHENGHONG OFFERS 25KB
AT $77.67 Week Week Date Brent CFD* Mid Change Dated Brent swap Mid Change
CFD Week 1 (Apr) Jan 06-10 PCAKA00 1.37/1.39 1.380 -0.310 AAJNV00 77.05/77.07 77.060 -0.910
PLATTS DUBAI: MAR25: RELIANCE OFFERS 25KB AT
CFD Week 2 (Apr) Jan 13-17 PCAKC00 1.46/1.48 1.470 -0.340 AAJOS00 77.14/77.16 77.150 -0.940
$77.67 AND TRADES DURING EXTENSION CFD Week 3 (Apr) Jan 20-24 PCAKE00 1.29/1.31 1.300 -0.365 .
AAJOU00 76.97/76.99 76.980 -0.965
PLATTS DUBAI: MAR25: EXXONMOBIL OFFERS 25KB CFD Week 4 (Apr) Jan 27-31 PCAKG00 1.05/1.07 1.060 -0.350 AAJOW00 76.73/76.75 76.740 -0.950
CFD Week 5 (Apr) Feb 03-07 AAGLU00 0.80/0.82 0.810 -0.150 AAJPC00 76.48/76.50 76.490 -0.750
AT $77.67 AND TRADES DURING EXTENSION
CFD Week 6 (Apr) Feb 10-14 AAGLV00 0.54/0.56 0.550 -0.130 AAJPE00 76.22/76.24 76.230 -0.730
PLATTS DUBAI: MAR25: SHELL OFFERS 25KB AT CFD Week 7 (Apr) Feb 17-21 AALCZ00 0.25/0.27 0.260 -0.140 AALAW00 75.93/75.95 75.940 -0.740
$77.67 AND WITHDRAWS DURING EXTENSION CFD Week 8 (Apr) Feb 24-28 AALDA00 0.03/0.05 0.040 -0.130 AALAX00 75.71/75.73 75.720 -0.730

PLATTS DUBAI: MAR25: PETROCHINA OFFERS 25KB Brent Swaps Weeks 1 to 8 are differentials to Brent Mo02 (Apr) PCAAR00 found on page 1.

AT $77.67 AND TRADES DURING EXTENSION

PLATTS DUBAI: MAR25: TRAFIGURA OFFERS 25KB Dated Brent/Brent Frontline Swaps (DFL) ($/barrel) (PPE page 1614)
AT $77.68 Swaps Change DFL Change
PLATTS DUBAI: MAR25: PETROCHINA OFFERS 25KB Balance month* (Jan 25) BDLBM00 76.930 -0.920 ABWFZ00 0.800 -0.200
Month 1 (Feb 25) BDLM001 76.090 -0.780 AAEAA00 0.590 -0.040
AT $77.68 Month 2 (Mar 25) BDLM002 75.410 -0.740 AAEAB00 0.400 -0.010
PLATTS DUBAI: MAR25: VITOL OFFERS 25KB Month 3 (Apr 25) BDLM003 74.940 -0.700 AAEAC00 0.330 +0.020
AT $77.70 Month 4 (May 25) BDLM004 74.540 -0.700 AAEAD00 0.300 +0.010
*Balance month swaps are assessed from the 1st through the 20th of the month.
PLATTS DUBAI: MAR25: KOCH OFFERS 25KB
AT $77.75
PLATTS DUBAI: MAR25: GUNVOR OFFERS 25KB Cash BFOE intraday assessments ($/barrel) (PGA page 1216)
AT $77.80 Cash BFOE Change Inter-Month Spread

PLATTS DUBAI: MAR25: BP OFFERS 25KB AT $77.80 10:30 London Time

BFOE M1 (Mar) PBCAAM1 77.760 +1.080
PLATTS DUBAI: MAR25: UNIPEC NO LONGER BFOE M2 (Apr) PBCAAM2 77.060 +0.990 Mar/Apr PBAM1M2 0.700
OFFERS AFTER TRADE BFOE M3 (May) PBCAAM3 76.490 +0.930 Apr/May PBAM2M3 0.570
Trades: 12:30 London Time
BFOE M1 (Mar) PBCABM1 77.440 +0.370
PLATTS DUBAI: MAR25: PETROCHINA SELLS TO BFOE M2 (Apr) PBCABM2 76.770 +0.340 Mar/Apr PBBM1M2 0.670
TOTAL* 25KB AT $77.70 (08:28:24) BFOE M3 (May) PBCABM3 76.200 +0.290 Apr/May PBBM2M3 0.570

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Crude Oil Marketwire January 8, 2025

PLATTS DUBAI: MAR25: EXXONMOBIL SELLS TO Cash BFOE intraday assessments ($/barrel) (PGA page 1216) (continued)
Cash BFOE Change Inter-Month Spread
TOTAL* 25KB AT $77.65 (08:29:06)
14:30 London Time
PLATTS DUBAI: MAR25: PETROCHINA SELLS TO BFOE M1 (Mar) PBCACM1 77.230 +0.130
TOTAL* 25KB AT $77.67 (08:29:27) BFOE M2 (Apr) PBCACM2 76.580 +0.100 Mar/Apr PBCM1M2 0.650
PLATTS DUBAI: MAR25: TRAFIGURA SELLS TO BFOE M3 (May) PBCACM3 76.040 +0.060 Apr/May PBCM2M3 0.540

TOTAL* 25KB AT $77.67 (08:29:34) 16:30 London Time

BFOE M1 (Mar) PCAAQ00 76.270 -0.720
PLATTS DUBAI: MAR25: TOTAL BUYS FROM BFOE M2 (Apr) PCAAR00 75.680 -0.600
EXXONMOBIL* 25KB AT $77.67 (08:29:37) BFOE M3 (May) PCARR00 75.190 -0.590
PLATTS DUBAI: MAR25: EXXONMOBIL SELLS TO 19:30 London Time
BFOE M1 (Mar) PBCADM1 NA –
TOTAL* 25KB AT $77.67 (08:29:38)
BFOE M2 (Apr) PBCADM2 NA – Mar/Apr PBDM1M2 NA
PLATTS DUBAI: MAR25: TOTAL BUYS FROM BFOE M3 (May) PBCADM3 NA – Apr/May PBDM2M3 NA
EXXONMOBIL* 25KB AT $77.67 (08:29:42)
PLATTS DUBAI: MAR25: UNIPEC SELLS TO TOTAL* Urals/ESPO spot assessments ($/barrel) (PGA page 1220)
25KB AT $77.67 (08:29:43) Mid Change Spread vs fwd Dated Brent Mid Change
PLATTS DUBAI: MAR25: TOTAL BUYS FROM Urals (Rotterdam) PCAFW00 68.06–68.08 68.070 -0.915 AAGXJ00 -8.69/-8.68 -8.685 +0.035
Urals (Mediterranean) PCACE00 68.92–68.95 68.935 -0.810 AAGXX00 -7.83/-7.81 -7.820 +0.140
EXXONMOBIL* 25KB AT $77.67 (08:29:46) Urals FOB Novo Suez AAGZS00 64.64–64.67 64.655 -0.850 AAHPH00 -12.11/-12.09 -12.100 +0.100
Urals FOB Novo Afra AAOTH00 64.64–64.67 64.655 -0.850 AAOTI00 -12.11/-12.09 -12.100 +0.100
PLATTS DUBAI: MAR25: EXXONMOBIL SELLS TO Urals (Ex-Baltic) AAGZT00 65.44–65.47 65.455 -0.850 AAHPI00 -11.31/-11.29 -11.300 +0.100
TOTAL* 25KB AT $77.67 (08:29:47) Urals (Primorsk) AAWVH00 65.44–65.47 65.455 -0.850 AAWVI00 -11.31/-11.29 -11.300 +0.100
Urals RCMB (Recombined) AALIN00 69.40–69.43 69.415 -0.515 .
PLATTS DUBAI: MAR25: TOTAL BUYS FROM ESPO (FOB Kozmino) AARWD00 72.88–72.90 72.890 -0.740 AARWE00 -2.53/-2.51 -2.520 0.000
KEBCO (CIF Augusta) KBCOA00 76.055 -0.950 KBCOB00 -0.700 0.000
UNIPEC* 25KB AT $77.67 (08:29:49) KEBCO (CIF Rotterdam) KBCOC00 76.055 -0.950 KBCOD00 -0.700 0.000
PLATTS DUBAI: MAR25: TOTAL BUYS FROM KEBCO (FOB Novo) KBCOE00 71.775 -0.990 KBCOF00 -4.980 -0.040
KEBCO (FOB Ust-Luga) KBCOG00 73.390 -0.880 KBCOH00 -3.365 +0.070
EXXONMOBIL* 25KB AT $77.67 (08:29:50) Urals (DAP India) DWCUA00 72.890 -0.780 DWCUB00 -3.200 0.000
PLATTS DUBAI: MAR25: TOTAL BUYS FROM KEBCO/Russian Urals AKEBA00 7.120 -0.140
Spread vs Dubai
UNIPEC* 25KB AT $77.67 (08:29:52) Urals (DAP India) vs M1 AURLA00 -2.390 +0.040
PLATTS DUBAI: MAR25: TOTAL BUYS FROM Urals (DAP India) vs M2 AURLB00 -1.750 +0.010
EXXONMOBIL* 25KB AT $77.67 (08:29:54) Number of days
Observed Delivery Factor AODFA00 0
PLATTS DUBAI: MAR25: TOTAL BUYS FROM
UNIPEC* 25KB AT $77.67 (08:29:54)
PLATTS DUBAI: MAR25: UNIPEC SELLS TO Urals Med/NWE CFD assessments ($/barrel)

Urals CFD Mid Change
MERCURIA* 25KB AT $77.65 (08:29:55)
Mediterranean (PPE page 1617)
PLATTS DUBAI: MAR25: TOTAL BUYS FROM
Urals Med CFD (Jan) AAMDU00 -7.83/-7.81 -7.820 +0.140
RELIANCE* 25KB AT $77.67 (08:29:56) Urals Med CFD (Feb) AAMEA00 -7.83/-7.81 -7.820 +0.140
PLATTS DUBAI: MAR25: UNIPEC SELLS TO MITSUI* Urals Med CFD (Mar) UMCM003 -7.83/-7.81 -7.820 +0.140

25KB AT $77.65 (08:29:57) Northwest Europe (PPE page 1617)

Urals NWE CFD (Jan) UNCM001 -8.69/-8.68 -8.685 +0.035
PLATTS DUBAI: MAR25: TOTAL BUYS FROM Urals NWE CFD (Feb) UNCM002 -8.69/-8.68 -8.685 +0.035
PETROCHINA* 25KB AT $77.67 (08:29:57) Urals NWE CFD (Mar) UNCM003 -8.69/-8.68 -8.685 +0.035
PLATTS DUBAI: MAR25: TOTAL BUYS FROM Mediterranean (PPE page 1617)
CPC Blend CFD (Jan) AAOFX00 -2.000 0.000
EXXONMOBIL* 25KB AT $77.67 (08:29:57) CPC Blend CFD (Feb) AAOFY00 -1.700 0.000
PLATTS DUBAI: MAR25: TOTAL BUYS FROM CPC Blend CFD (Mar) AAOFZ00 -1.350 0.000
UNIPEC* 25KB AT $77.67 (08:30:00)

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Crude Oil Marketwire January 8, 2025

PLATTS DUBAI: MAR25: TOTAL BUYS FROM Mediterranean spot crude assessments ($/barrel)
Mid Change Spread vs fwd Dated Brent Mid Change
RELIANCE* 25KB AT $77.67 (08:30:03)
Azeri and BTC (PGA page 1222)
PLATTS DUBAI: MAR25: TOTAL BUYS FROM Azeri Lt CIF AAGZX00 78.70–78.73 78.715 -0.910 AAHPM00 2.04/2.06 2.050 0.000
EXXONMOBIL* 25KB AT $77.67 (08:30:03) Azeri Lt FOB Ceyhan Suez AAUFM00 77.80–77.83 77.815 -0.925 AAUFN00 1.14/1.16 1.150 -0.015
Azeri Lt FOB Ceyhan Afra AAUFK00 77.42–77.45 77.435 -0.735 AAUFL00 0.76/0.78 0.770 +0.175
PLATTS DUBAI: MAR25: TOTAL BUYS FROM Azeri Lt FOB Supsa AATHM00 75.29–75.32 75.305 -0.955 AATHN00 -1.37/-1.35 -1.360 -0.045
PETROCHINA* 25KB AT $77.67 (08:30:04) BTC FOB Ceyhan AAUFH00 77.61–77.64 77.625 -0.830 AAUFJ00 0.95/0.97 0.960 +0.080
This assessment commentary applies to the Black Sea (PGA page 1220)
Siberian Light CIF AAGZW00 70.92–70.95 70.935 -0.810 AAHPK00 -5.83/-5.81 -5.820 +0.140
following market data codes: Dubai M1 <PCAAT00>, CPC Blend CIF AAGZU00 74.43–74.46 74.445 -0.660 AAHPL00 -1.86/-1.84 -1.850 +0.150
Oman M1 <PCABS00> CPC Blend FOB Suez AALVX00 71.79–71.82 71.805 -0.750 AALVZ00 -4.50/-4.48 -4.490 +0.060
CPC Blend FOB Afra AAOFV00 70.49–70.52 70.505 -0.700 AAOFW00 -5.80/-5.78 -5.790 +0.110
Additional War Risk Premium AWARA00 0.700 0.000
Platts Dubai Derivatives Bids Summary Middle East & North Africa (PGA page 1234)
Suez Blend PCACA00 76.84–76.87 76.855 -0.950 AAGYD00 0.09/0.11 0.100 0.000
Es Sider PCACO00 75.00–75.03 75.015 -0.910 AAGYH00 -1.66/-1.64 -1.650 0.000
BIDS ON CLOSE Kirkuk AAEJD00 75.89–75.92 75.905 -0.950 AAGYF00 -0.86/-0.84 -0.850 0.000
—————————— Iranian Light FOB Kharg Island (Med) AILKA00 73.355 -0.750 AILKB00 -3.400 +0.200
Iranian Heavy FOB Kharg Island (Med) AIHKA00 71.255 -0.750 AIHKB00 -5.500 +0.200
NO BIDS REPORTED Saharan Blend AAGZY00 77.25–77.28 77.265 -0.910 AAHPN00 0.59/0.61 0.600 0.000
WITHDRAWALS
—————————— West African spot crude assessments ($/barrel) (PGA page 1230)
NO WITHDRAWALS REPORTED Mid Change .
Spread vs fwd Dated Brent Mid Change
Platts’ End-of-Day assessments for Dubai WAF Index AWAFA00 77.448 -0.695 AWAFB00 1.538 +0.100

derivatives prices can be found on PPA2606. Nigeria Spot Crude Assessments

Agbami AAQZB00 75.04–75.08 75.060 -0.695 AAQZC00 -0.86/-0.84 -0.850 +0.100
Platts Oil Paper Bids, Offers and Trade Page Index Akpo PCNGA00 75.09–75.13 75.110 -0.695 PCNGB00 -0.81/-0.79 -0.800 +0.100
found on <PGA4000> Bonga PCNGC00 78.29–78.33 78.310 -0.695 PCNGD00 2.39/2.41 2.400 +0.100
Bonny Light PCAIC00 76.59–76.63 76.610 -0.695 AAGXL00 0.69/0.71 0.700 +0.100
Platts has defined standards for entities it Brass River AAEJB00 76.34–76.38 76.360 -0.695 AAGXV00 0.44/0.46 0.450 +0.100
considers to be related and verifies through a variety of Egina AFONA00 80.410 -0.695 AFONB00 4.500 +0.100
Erha AAXUO00 77.810 -0.695 AAXUP00 1.900 +0.100
inputs whether counterparties in reported trades meet Escravos AAEIZ00 77.39–77.43 77.410 -0.745 AAGXR00 1.49/1.51 1.500 +0.050
these criteria. Forcados PCABC00 77.69–77.73 77.710 -0.695 AAGXP00 1.79/1.81 1.800 +0.100
Qua Iboe PCAID00 77.14–77.18 77.160 -0.695 AAGXN00 1.24/1.26 1.250 +0.100
Usan AAXUQ00 73.810 -0.695 AAXUR00 -2.100 +0.100
Platts Dubai Derivatives Offers Summary Angola spot crude assessments ($/barrel) (PGA page 1232)
Cabinda PCAFD00 76.44–76.48 76.460 -0.695 AAGXT00 0.54/0.56 0.550 +0.100
Dalia AAQYX00 75.79–75.83 75.810 -0.695 AAQYY00 -0.11/-0.09 -0.100 +0.100
OFFERS ON CLOSE Girassol AASNL00 77.24–77.28 77.260 -0.695 AASJD00 1.34/1.36 1.350 +0.100
—————————— Hungo AASLJ00 74.84–74.88 74.860 -0.595 AASJF00 -1.06/-1.04 -1.050 +0.200
Kissanje AASLK00 76.19–76.23 76.210 -0.745 AASJE00 0.29/0.31 0.300 +0.050
NO OFFERS REPORTED Nemba AAQYZ00 75.09–75.13 75.110 -0.695 AAQZA00 -0.81/-0.79 -0.800 +0.100
WITHDRAWALS Pazflor PCNGG00 75.69–75.73 75.710 -0.695 PCNGH00 -0.21/-0.19 -0.200 +0.100
Plutonio PCNGI00 74.79–74.83 74.810 -0.695 PCNGJ00 -1.11/-1.09 -1.100 +0.100
——————————
Ghana spot crude assessments (PGA page 1230)
NO WITHDRAWALS REPORTED Jubilee AAXUS00 76.010 -0.695 AAXUT00 0.100 +0.100
Platts’ End-of-Day assessments for Dubai Republic of Congo spot crude assessments
Djeno 74.24–74.28 74.260 -0.695 -1.66/-1.64 -1.650 +0.100
derivatives prices can be found on PPA2606. PCNGE00 PCNGF00

Chad spot crude assessments

Platts Oil Paper Bids, Offers and Trade Page Index Doba AAXUU00 74.560 -0.695 AAXUV00 -1.350 +0.100
found on <PGA4000> Latin American Delivered-Europe spot crude assessments
Buzios ABUZB00 77.990 -0.730 ABUZA00 1.900 +0.050

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Crude Oil Marketwire January 8, 2025

Platts has defined standards for entities it West Africa market parity prices ($/barrel) (PGA page 1270)
Mid Change Spread vs fwd Dated Brent Mid Change
considers to be related and verifies through a variety of
Abo Blend AAXTL00 76.330 -0.730 ABOOM00 0.420 +0.065
inputs whether counterparties in reported trades meet Aje APIRP00 75.695 -0.700 APIRA00 -0.215 +0.095
Amenam Blend AAXTI00 75.540 -0.690 AMENA00 -0.370 +0.105
these criteria.
Antan Blend APIRQ00 77.760 -0.735 APIRB00 1.850 +0.060
Asaramatoru AAXTV00 76.445 -0.695 ASARA00 0.535 +0.100
Platts Dubai Derivatives Trades Summary CJ Blend
EA Blend
APIRR00
AAXTJ00
77.585
77.580
-0.740
-0.765
APIRC00
AEABL00
1.675
1.670
+0.055
+0.030
Ebok APIRS00 75.060 -0.550 APIRD00 -0.850 +0.245
Eremor APIRT00 77.155 -0.465 APIRE00 1.245 +0.330
TRADES SUMMARY
Ima APIRU00 74.410 -0.625 APIRF00 -1.500 +0.170
—————————— Jones Creek Blend APIRV00 77.190 -0.590 APIRG00 1.280 +0.205
Okono Blend APIRW00 76.575 -0.745 APIRH00 0.665 +0.050
NO TRADES REPORTED
Okoro APIRX00 76.580 -0.705 APIRI00 0.670 +0.090
Platts’ End-of-Day assessments for Dubai Okwori APIRY00 77.965 -0.735 APIRJ00 2.055 +0.060
Otakikpo APIRZ00 74.975 -0.685 APIRK00 -0.935 +0.110
derivatives prices can be found on PPA2606.
Oyo APRIA00 76.435 -0.685 APIRL00 0.525 +0.110
Platts Oil Paper Bids, Offers and Trade Page Index Pennington APRIB00 75.785 -0.700 APIRM00 -0.125 +0.095
Rabi Light ARABA00 75.425 -0.620 ARABB00 -0.485 +0.175
found on <PGA4000>
Sankofa APRIC00 75.040 -0.550 APIRN00 -0.870 +0.245
Platts has defined standards for entities it TEN AAXTW00 75.245 -0.600 ATENM00 -0.665 +0.195
Ukpokiti APRID00 76.310 -0.730 APIRO00 0.400 +0.065
considers to be related and verifies through a variety of
Yoho Light AAXTK00 76.765 -0.725 AYOHO00 0.855 +0.070
inputs whether counterparties in reported trades meet Zafiro AAXTU00 77.875 -0.750 AZAFB00 1.965 +0.045
these criteria.
.
US West Coast Crude Assessments ($/barrel) (PGA page 214)
Platts Dubai Derivatives Exclusions
Mid Change
Spread to NYMEX WTI CMA Mid Change
Exclusions: No market data was excluded from the ANS/Long Beach PCAAD00 75.94–75.98 75.960 -0.760 AAGWX00 3.92/3.94 3.930 +0.070
January 8, 2025 Dubai derivatives assessment process. Spread to ICE BRENT CMA
ANS/Long Beach AANSA00 0.850 0.000

Platts Asia Pacific Sweet Crude Daily

Market Analysis US spot crude assessments ($/barrel) (PGA pages 210 & 214)
Mid Change
„ Two Wheatstone condensate cargoes scheduled for
Mars (Feb) AAMBR00 73.61–73.63 73.620 -0.930
March loading Mars (Mar) AAMBU00 72.86–72.88 72.870 -0.950
Mars (Apr) AAMBX00 72.20–72.22 72.210 -0.900
„ Brunei Energy’s Seria Light crude heard moved Mars/WTI (Feb) AAGWH00 0.29/0.31 0.300 0.000
Mars/WTI (Mar) 0.19/0.21 0.200 -0.050
„ PV Oil offers Chim Sao, Ruby crude for AAKTH00
Mars/WTI (Apr) AAMBO00 0.04/0.06 0.050 -0.050
March loading LOOP/WTI (Feb) AALOM01 0.200 0.000
LOOP/WTI (Mar) AALOM02 0.100 -0.050
LOOP/WTI (Apr) AALOM03 -0.050 -0.050
The Asia-Pacific regional sweet crude complex LOOP/Mars (Feb) AALPM01 -0.100 0.000
continued to see a rise in market activity Jan. 8 across LOOP/Mars (Mar) AALPM02 -0.100 0.000
LOOP/Mars (Apr) AALPM03 -0.100 0.000
crude and condensate barrels, led by the emergence of
WTI-Delta AAEJK00 0.80/0.82 0.810 -0.050
loading program and a slew of tender issuances. P-Plus WTI PCACI00 4.18/4.20 4.190 -0.050
In the regional condensate segment, the loading P-5 WTI* AAFEN00 69.880 -0.970

program for Australia’s Wheatstone condensate *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
cargoes have been scheduled for the March-loading database.
cycle, with two cargoes scheduled.
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Crude Oil Marketwire January 8, 2025

Chevron holds the first cargo scheduled to load US spot crude assessments (continued)
Mid Change Spread vs 1st line WTI Mid Change
over March 7-9, while Woodside Energy holds the other
WTI (Midland) PCACJ00 74.11–74.13 74.120 -0.930 AAGVZ00 0.79/0.81 0.800 0.000
cargo for loading over March 30-April 2. WTS (1st month) PCACK00 72.46–72.48 72.470 -0.930 AAGWB00 -0.86/-0.84 -0.850 0.000
The Platts-assessed second-month gasoline and WTI MEH AAYRG00 74.320 -0.980 AAYRH00 1.000 -0.050
Bonito PCAIE00 73.86–73.88 73.870 -0.930 AAGWF00 0.54/0.56 0.550 0.000
naphtha swap crack against Dubai crude swaps SGC AASOI00 72.11–72.13 72.120 -0.930 AASOJ00 -1.21/-1.19 -1.200 0.000
averaged $8/b and minus $4.33/b, respectively, as of Poseidon AABHK00 73.26–73.28 73.270 -0.930 AAGWL00 -0.06/-0.04 -0.050 0.000
LLS (1st month) PCABN00 75.61–75.63 75.620 -0.930 AAGWN00 2.29/2.31 2.300 0.000
the Jan. 7 Asian close, compared with an average of
HLS (1st month) PCABD00 74.91–74.93 74.920 -0.930 AAGWP00 1.59/1.61 1.600 0.000
$8.04/b and minus $4.16/b, respectively, in December, Wyoming Sweet PCACM00 70.61–70.63 70.620 -1.030 AAGWR00 -2.71/-2.69 -2.700 -0.100
S&P Global Commodity Insights data showed. Thunder Horse AAWZK00 75.41–75.43 75.420 -0.930 AAWZL00 2.09/2.11 2.100 0.000
WTL SSWTA00 73.720 -0.930 SSWTB00 0.400 0.000
Meanwhile, Brunei Energy was heard to have sold Spread vs WTI Midland
600,000 barrels of Seria Light Export Blend for March SSWTC00 -0.400 0.000
23-27 loading to Glencore, at a premium in the 50s Spread vs 2nd line WTI
WTI MEH (2nd month) AAXXE00 73.820 -0.900 AAYYA00 1.150 0.000
cents/b to Brunei OSP, market sources said. WTI Midland (2nd month) AAYZA00 73.520 -0.900 AAXXF00 0.850 0.000
Brunei Energy was last heard to have sold WTS (2nd month) AAURG00 71.86–71.88 71.870 -0.900 AAURH00 -0.81/-0.79 -0.800 0.000
Malaysia’s Kimanis crude for loading in October, at LLS (2nd month) AAURC00 75.01–75.03 75.020 -0.850 AAURD00 2.34/2.36 2.350 +0.050
HLS (2nd month) AAURE00 74.31–74.33 74.320 -0.850 AAURF00 1.64/1.66 1.650 +0.050
a premium of around 50 cents/b to the crude OSP, Spread vs NYMEX WTI CMA
via a tender that closed Aug. 16, Commodity Insights WCS ex-Cushing AAWTY00 67.15–67.17 67.160 -1.130 AAWTZ00 -5.36/-5.34 -5.350 -0.250
WCS ex-Nederland AAYAY00 68.160 -1.130 AAYAX00 -4.350 -0.250
reported previously.
Bakken Williston AAXPP00 69.210 -1.030 .
AASRX00 -3.300 -0.150
In the medium sweet crude complex, Vietnam’s Bakken Guernsey AASRR00 70.60–70.62 70.610 -1.030 AASRV00 -1.91/-1.89 -1.900 -0.150
PV Oil was seen offering 300,000 barrels of Chim Sao Bakken Clearbrook AASRU00 70.95–70.97 70.960 -0.880 AASRW00 -1.56/-1.54 -1.550 0.000
Bakken USGC Pipe ABAKA00 74.410 -0.980 ABAKB00 1.900 -0.100
crude for March 4-8 loading via a tender that closes FOB USGC FOB USGC Spread vs NYMEX WTI Strip
Jan. 13, with validity until Jan. 16. Platts AGS AGSAA00 74.770 -1.010 AGSAC00 2.100 -0.090
PV Oil was also seen offering 300,000 barrels of Bakken ABAKC00 74.770 -1.010 ABAKD00 2.100 -0.090
Eagle Ford Crude AAYAT00 74.220 -1.010 AAYAU00 1.550 -0.090
Ruby crude for March 18-25 loading via a tender that Eagle Ford Condensate AAYAR00 73.320 -1.010 AAYAS00 0.650 -0.090
closes Jan. 14, with validity until Jan. 21. WTI AAYBA00 74.770 -1.010 AAYAZ00 2.100 -0.090
WTI FOB USGC vs WTI MEH (by decade)
In comparison, PV Oil last sold 300,000 barrel of
WTI FOB USGC First Decade ADECB00 74.770 -0.980 ADECD00 0.450 0.000
Chim Sao crude loading over Feb. 4-8 and 300,000 WTI FOB USGC Second Decade ADECE00 74.670 -0.980 ADECG00 0.350 0.000
barrel of Ruby crude loading over Feb. 7-14 to Unipec WTI FOB USGC Third Decade ADECH00 74.570 -0.980 ADECJ00 0.250 0.000
WTI FOB USGC Decades Average ADECA00 74.670 -0.980
and Binh Son Refining and Petrochemical, respectively, FOB USGC Spread vs Dated Brent Strip WTI FOB USGC vs Dated Brent Basis (by decade)
at a premium in the mid- to high $4s/b and low $4s/b, Platts AGS AGSAB00 -1.650 +0.030 ADECC00 -1.400 -0.080
respectively, to Platts Dated Brent crude assessments, Bakken ABAKE00 -1.650 +0.030 ADECF00 -1.500 -0.080
Eagle Ford Crude AEFCA00 -2.200 +0.030 ADECI00 -1.600 -0.080
FOB, Commodity Insights reported previously, citing Eagle Ford Condensate AEFCB00 -3.100 +0.030
trade sources. WTI AWTUA00 -1.650 +0.030
The second-month gasoil and jet fuel swap crack Global Benchmarks at US Close WTI FOB USGC vs ICE Brent Basis (by decade)
Americas Dated Brent AAQBF00 77.240–77.260 77.250 -0.840 ADECK00 -0.810 -0.120
spread averaged $16.13/b and $15.05/b, respectively, at ADECL00 -0.910 -0.120
the Jan. 7 Asian close, compared with the December ADECM00 -1.010 -0.120

averages of $15.66/b and $15.12/b, Commodity Insights

data showed.
Elsewhere, Indonesia’s Pertamina was seen
retendering, seeking various crude and condensate

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Crude Oil Marketwire January 8, 2025

grades for March delivery via a tender that closes Jan. US domestic crude assessments London close ($/barrel) (PGA page 1240)
Spread to
8, with validity until Jan. 10
Mid Change NYMEX light sweet crude Mid Change
The company had previously bought a cargo of WTI (Feb) AAQAR00 73.40–73.42 73.410 -0.690 AAQAS00 -0.01/0.01 0.000 0.000
WTI (Mar) AAQAT00 72.68–72.70 72.690 -0.750 AAQAU00 -0.01/0.01 0.000 0.000
Australia’s North West Shelf condensate held by WTI (Apr) AAQAV00 72.12–72.14 72.130 -0.770 AAQAW00 -0.01/0.01 0.000 0.000
Japan’s Mitsui scheduled to load over Feb. 10-14, at a Spread to
discount of around $2s/b CFR Tuban, an equivalent to same-month cash WTI Mid Change
WTI MEH (Feb) AAYRZ00 74.410 -0.740 AAYTA00 1.000 -0.050
around minus $4/b on an FOB basis, via a tender that WTI MEH (Mar) AAXYD00 73.840 -0.800 AAYWA00 1.150 -0.050
LLS (Feb) 75.70–75.72 75.710 -0.690 2.29/2.31 2.300 0.000
closed Dec. 9, Commodity Insights reported earlier, AAQBB00 AAQBC00
LLS (Mar) AAQBD00 75.03–75.05 75.040 -0.700 AAQBE00 2.34/2.36 2.350 +0.050
citing market sources. MARS (Feb) AAQAX00 73.70–73.72 73.710 -0.690 AAQAY00 0.29/0.31 0.300 0.000
MARS (Mar) 72.88–72.90 72.890 -0.800 0.19/0.21 0.200 -0.050
The company also bought several crude grades, AAQAZ00 AAQBA00

including US WTI Midland, Nigeria’s Qua Iboe, Gabon’s

Rabi Light and Angola’s Olombendo crude, via the
same tender.
Additionally, IOC was seen seeking various sweet
Americas close ($/barrel) (PGA page 210)
crude grades for February loading or March delivery via
Mid Change
a tender that closes Jan. 9 10 am IST, with same-day Americas Dated Brent AAQBF00 77.24–77.26 77.250 -0.840
validity. Americas Dated Brent reflects market value for Dated Brent at 2:30pm Eastern Time.
Indian Oil last purchased one cargo each of Angola’s
.
Nemba crude and Cameroon’s Kole crude for loading
in early January or delivery between late January
and early February via a tender that closed Nov. 27, US crude assessments Singapore close ($/barrel) (PGA page 2208)
Commodity Insights reported previously. Mid Change
LOOP Sour (Feb) AAZDA00 75.090 +1.710
Platts Asia Light Sweet Crude Daily Rationale & LOOP Sour (Mar)
LLS (Feb)
AAZDB00
AAZDC00
74.260
77.190
+1.690
+1.710
Exclusions LLS (Mar) AAZDD00 76.410 +1.590
Southern Green Canyon AAZDE00 73.690 +1.710
ESPO FOB Kozmino Mo01 Spore vs Dubai Mo01 WTI MEH (Feb) AAZDF00 75.940 +1.710
<AASEU00> assessment rationale: The ESPO M1 WTI MEH (Mar) AAZDG00 75.260 +1.440
March assessment Jan. 8 took into consideration
latest trade indications heard in the broader market.
Exclusions: No market data was excluded from the
Asia-Pacific Crude Platts Market on Close assessment CFR North Asia Assessments Singapore Close ($/barrel) (PGA page 2202)
process. Mid Change
Dubai CFR North Asia PCAQA00 79.020 +1.320
Platts Asia Light Sweet Crude Bids, Offers, Oman CFR North Asia
Upper Zakum CFR North Asia
PCAQJ00
PCAQB00
79.040
78.990
+1.360
+1.310
Trades Qatar Marine CFR North Asia PCAQC00 78.450 +1.320
Murban CFR North Asia PCAQE00 79.030 +1.370
Basrah Medium CFR North Asia BASNA00 77.770 +1.320
Bids: NIL ESPO CFR North Asia PCAQD00 76.530 +1.380
Offers: NIL Forties CFR North Asia PCAQF00 81.070 +1.495
Dalia CFR North Asia PCAQG00 79.705 +1.725
Trades: NIL WTI MEH CFR North Asia PCAQH00 80.060 +1.730
LOOP Sour CFR North Asia PCAQI00 78.110 +1.710

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Crude Oil Marketwire January 8, 2025

This assessment commentary applies to the Canadian spot crude cargo assessments ($/barrel) (PGA page 230)
Mid Change Spread vs fwd Dated Brent Mid Change
following market data code: ESPO M1 vs Dubai M2
Hebron AHEBA00 73.085 -0.790 AHEBC00 -2.750 0.000
<AASEU00> Terra Nova AAJUH00 72.32–72.35 72.335 -0.790 AAJUJ00 -3.51/-3.49 -3.500 0.000
Hibernia AAJKK00 73.62–73.65 73.635 -0.790 AAJKM00 -2.21/-2.19 -2.200 0.000
White Rose AAVJX00 74.22–74.25 74.235 -0.790 AAVJY00 -1.61/-1.59 -1.600 0.000
Platts North Sea Crude Daily Market The published spreads for Canadian cargo assessments reflect the market value at which these grades are trading versus Dated Brent around loading time. The
Analysis spreads and fixed price assessments reflect a typical forward loading window of 33-63 days forward. For further explanation see www.platts.com.

„ Robust demand for FOB Forties returns to MOC Canadian FOB Westridge assessments ($/barrel) (PGA 230)
„ Paper markets soften on the day Diff to Diff to Futures
Mid Change WTI CMA ICE Brent
Pacific Cold Lake ATMXA00 66.160 -0.760 ATMXC00 -5.870 +0.070 ATMXB00 -8.950 0.000
Pacific Dilbit ATMXE00 65.660 -0.760 ATMXG00 -6.370 +0.070 ATMXF00 -9.450 0.000
Value for Forties crude continued to strength Jan. 8
Diff to Futures
amid an open arbitrage to East Asian markets. Dubai
Mercuria, Mitsui and Petroineos returned to the Pacific Cold Lake ATMXI00 -8.630 +0.030
Pacific Dilbit ATMXJ00 -9.130 +0.030
Platts North Sea Physical Market on Close assessment
The WTI CMA and ICE Brent CMA during the loading month.
process to bid for cargoes of the grade, joined by
Trafigura which sought a cargo of Brent Blend. Canadian spot crude assessments ($/barrel) (PGA page 230)
Gunvor and BP returned to the offers side, looking Mid Change Spread vs Canada basis Mid Change
once more to offload cargoes of Forties CIF Rotterdam. Lloyd Blend 60.80–60.82 60.810 -1.130 -11.71/-11.69 -11.700 -0.250
Mixed Sweet
AALRK00
AALRR00 67.90–67.92 67.910 -0.830
AALRP00
AALRV00
. -4.61/-4.59 -4.600 +0.050
They were joined by ENI, which offered a cargo of Light Sour Blend AALRX00 66.40–66.42 66.410 -0.830 AALSD00 -6.11/-6.09 -6.100 +0.050
Forties on an FOB basis. Midale AAUCC00 66.60–66.62 66.610 -0.830 AAUCE00 -5.91/-5.89 -5.900 +0.050
Condensates AALSF00 71.60–71.62 71.610 -0.880 AALSJ00 -0.91/-0.89 -0.900 0.000
At 4:20 pm London time, Gunvor lifted BP for a Syncrude Sweet Prem. AASOK00 70.55–70.57 70.560 -0.880 AASOM00 -1.96/-1.94 -1.950 0.000
cargo of Forties CIF Rotterdam, arriving Jan. 20-24, at a WCS Hardisty AAPPN00 60.30–60.32 60.310 -1.130 AAPPP00 -12.21/-12.19 -12.200 -0.250
Cold Lake Hardisty AASZX00 60.15–60.17 60.160 -1.130 AASZZ00 -12.36/-12.34 -12.350 -0.250
$1.40/b premium to Dated Brent. WTI CMA (1st mo) AAVSN00 72.510 -0.880
Shortly after, Glencore sold to a Petroineos bid,
selling a cargo of WTI Midland CIF Rotterdam arriving Latin American assessments ($/barrel) (PGA page 280)
Jan. 30 to Feb. 3 at a $1.50/b premium to Dated Brent. Diff to Diff to Futures Diff to Dated
Mid Change WTI strip Brent strip Brent strip
In the paper markets, Brent CFD contracts tipped Escalante PCAGC00 73.89–73.93 73.910 -0.865 PCAGO00 1.470 AAXBS00 -1.500 AAXAX00 -2.035
downwards on the day after surging through much of Medanito AMTOA00 72.410 -0.865 AMTOC00 -0.030 AMTOB00 -3.000 AMTOD00 -3.535
Loreto PCAGH00 65.82–65.86 65.840 -0.795 PCAGQ00 -6.600 AAXBV00 -9.570 AAXBG00 -10.105
early January trading. Similarly, Cash BFOE followed Oriente PCADE00 66.87–66.91 66.890 -0.795 PCAGU00 -5.550 AAXBW00 -8.520 AAXBH00 -9.055
ICE Brent downwards. Napo AAMCA00 62.57–62.61 62.590 -0.795 AAMCD00 -9.850 AAXBX00 -12.820 AAXBI00 -13.355
Tupi ATUPA00 75.860 -0.615 ATUPC00 3.420 ATUPB00 0.450 ATUPD00 -0.085
Looking at wider crude spreads, ICE Brent futures’ Buzios ABUZC00 76.203 -0.730 ABUZD00 0.113
premium to NYMEX WTI — a key indicator of WTI Castilla Blend AAVEQ00 67.64–67.68 67.660 -0.865 AAVEQ01 -4.780 AAXBZ00 -7.750 AAXBK00 -8.285
Vasconia PCAGI00 70.79–70.83 70.810 -0.865 PCAGR00 -1.630 AAXCB00 -4.600 AAXBN00 -5.135
Midland arbitrage viability into Europe — also lost Liza ALIZA00 74.845 -0.405 ALIZD00 2.405 ALIZC00 -0.565 ALIZB00 -1.100
ground Jan. 8, continuing to soften from its early Unity Gold AUNIA00 75.045 -0.405 AUNIC00 2.605 AUNIB00 -0.365 AUNID00 -0.900
Payara Gold AYARA00 75.145 -0.405 AYARD00 2.705 AYARC00 -0.265 AYARB00 -0.800
January peak. Latin America WTI strip AAXBP00 72.440
At the same time, charter rates for trans-Atlantic Latin America Futures Brent strip AAXBQ00 75.410
Latin America Dated Brent strip AAXBR00 75.945
Aframax vessels jumped on the day, signaling a
potential closing of the transatlantic crude arbitrage Latin America market parity prices ($/barrel) (PGA page 270)
that had characterized December trading in the North Mid Change
Maya AAYMP00 67.192 -0.869
Sea crude market. Merey 16 AMERA00 67.288 -0.892
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Crude Oil Marketwire January 8, 2025

Platts North Sea Dated Brent, BFOE, CFD Platts euro-denominated assessments (€/barrel) (PGA page 1252)
Assessment Rationales & Exclusions Mid Change
European crude oil benchmarks
Dated Brent <PCAAS00> assessment rationale: Dated Brent AAPYR00 74.950–74.960 74.956 -0.184
Of the six crudes in the Dated Brent basket, Dated Brent (CIF) PCAKN00 75.786 -0.241
Urals (Mediterranean) AAPYS00 66.890–66.920 66.901 -0.381
Forties, Brent Blend and WTI Midland were seen
US crude oil benchmarks
in the Market on Close assessment process. Brent WTI (Feb) AAPYT00 71.230–71.250 71.244 -0.240
Blend was assessed higher in a flat structure Jan. 18 WTI MEH (Feb) AAYSA00 72.215 -0.282
Mars (Feb) AAPYU00 71.530–71.550 71.535 -0.238
to Feb. 8 using an outstanding bid Jan. 30. Forties
Euro/US$ forex rate: 1.0304. Platts Euro denominated crude oil assessments are based on market values and a Euro/US$ forex rate at 4:30 PM local London time.
was assessed in a flat structure Jan. 18-20 using an
outstanding bid Jan. 20 and a FOB equivalent traded
offer Jan. 20. Jan. 20-21 was assessed in a 30.77 cents/ Ruble-denominated Russian assessments (Rb/barrel) (PGA page 1224)
day backwardated structure using a FOB equivalent Mid Change
traded offer Jan. 21. Jan. 21-22 was assessed in a flat Russian crude oil benchmarks
structure using a FOB equivalent traded offer Jan. 22. Urals FOB Novorossiysk AAUJP00 6803.230–6806.390 6804.809 -187.784
Urals FOB Baltic AAUJQ00 6887.430–6890.590 6889.008 -188.984
Jan. 22-23 was assessed in a 30.77 cents/day contango Urals FOB Novorossiysk 80kt AAUJR00 6803.230–6806.390 6804.809 -187.784
structure using an outstanding bid Jan. 24. Jan. 24-25 Urals CIF Mediterranean AAUJS00 7253.690–7256.850 7255.271 -189.938
Urals CIF Rotterdam AAUJT00 7163.180–7165.280 7164.231 -199.849
was assessed in a 36.54 cents/day backwardated
US$/Ruble forex rate: 105.2480. Platts Ruble denominated crude oil assessments are based on market values and a US$/Ruble forex rate at 4:30 PM local
structure using a FOB equivalent withdrawn offer Jan. London time. .
25. Jan. 25-27 was assessed in a flat structure using a
withdrawn FOB equivalent offer Jan. 25-27. Jan. 27-29
Platts CAD-denominated Canada spot crude assessments (C$/cu m) (PGA page 232)
was assessed in a 18.27 cents/day contango structure
Mid Change
using an outstanding bid Jan. 29. Jan. 29-30 was Lloyd Blend AALRM00 549.845–550.026 549.936 -8.933
assessed in a flat structure using an outstanding bid Mixed Sweet AALRT00 614.054–614.235 614.145 -6.079
Light Sour Blend AALRZ00 600.489–600.670 600.579 -6.111
Jan. 30. Jan. 30 to Feb. 2 was assessed in a 5.51 cents/ Midale AAUCD00 602.298–602.479 602.388 -6.106
day backwardated structure using a FOB equivalent Condensates AALSH00 647.515–647.696 647.606 -6.453
Syncrude Sweet AASOL00 638.020–638.200 638.110 -6.475
outstanding offer Feb. 2. Feb. 2-4 was assessed in a WCS Hardisty AAPPO00 545.324–545.504 545.414 -8.944
flat structure. Feb. 4-8 was assessed in a 2.5 cents/ Cold Lake Hardisty AASZY00 543.967–544.148 544.057 -8.947

day backwardated structure. Oseberg was assessed

higher Jan. 18 to Feb. 7, with flat structure rolled across Daily US$ vs EURO exchange rate (PGA page 1151)
back-end dates, reflecting strengthening market Mid Change
fundamentals and strength demonstrated in other January 8, 2025 AAFCW00 1.0304 -0.006
grades in the basket. Ekofisk was assessed higher Jan.
18 to Feb. 7, with flat structure rolled across back-end
dates, reflecting strengthening market fundamentals Asia close Brent and WTI spot assessments ($/barrel) (PGA page 2210)
Mid Change
and strength demonstrated in other grades in the
Brent (Mar) PCAJG00 77.68–77.72 77.700 +1.470
basket. Troll was assessed higher Jan. 18 to Feb. 7, with Brent (Apr) PCAJI00 76.89–76.93 76.910 +1.250
flat structure rolled across back-end dates, reflecting Brent (May) PCAJ000 76.350 +1.150
WTI (Feb) AAFFU00 74.87–74.91 74.890 +1.610
strengthening market fundamentals and strength WTI (Mar) AAFFW00 74.09–74.13 74.110 +1.440
demonstrated in other grades in the basket. FOB WTI WTI (Apr) AAFFY00 73.46–73.50 73.480 +1.320

Midland was assessed higher reflecting a higher CIF

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Crude Oil Marketwire January 8, 2025

Rotterdam assessment and a lower freight adjustment Oman OSPs and derivatives ($/barrel) (PGA pages 2658 & 2210)
Mid Change
factor. CIF WTI Midland was assessed higher in a
Oman/Dubai Swap (Feb) AAIHJ00 0.03/0.07 0.050 +0.050
flat structure Jan. 20-24 using an outstanding bid Oman/Dubai Swap (Mar) AAIHL00 0.03/0.07 0.050 +0.050
Oman/Dubai Swap (Apr) 0.03/0.07 0.050 +0.050
Jan. 21-24. Jan. 24-31 was assessed in a 5 cents/day AAIHN00
Oman Swap (Feb) AAHZP00 76.82–76.86 76.840 +1.460
backwardated structure using a traded bid Jan. 31. Oman Swap (Mar) AAHZR00 76.08–76.12 76.100 +1.380
Oman Swap (Apr) 75.46–75.50 75.480 +1.300
Jan. 31-Feb. 8 was assessed in a flat structure. Forties AAHZT00

was the most competitive grade in the Dated Brent

assessment Jan. 18-23. WTI Midland was the most
competitive Jan. 24. Forties was the most competitive
Daily OPEC Basket Price ($/barrel) (PGA page 207)
Jan. 25-27. WTI Midland was the most competitive Jan. Mid Change
28-Feb. 8. January 7, 2025 AAEUQ00 76.070 -0.110
BFOE (PCAAQ00-PCAAR00,PCARR00> assessment
rationale:
March Cash BFOE was assessed using multiple
traded bids in the MOC. April Cash BFOE was assessed Futures Settlements
using an outstanding offer in the MOC. May Cash BFOE Settlement Change Low High Volume* Open interest PNT****
NYMEX Light Sweet crude ($/barrel) (PGA page 705)
was assessed using April/May EFP roll heard during
Feb 25 NMCL001 73.32 -0.93 73.16 75.29 297254 270820
the day. Mar 25 NMCL002 72.67 -0.90 72.51 74.44 237109 299765 .
CFD (PCAKA00-AALDA00) assessment rationale: Apr 25 NMCL003 72.16 -0.85 72.01 73.79 111769 146727
Jan. 13-17 was assessed using an outstanding May 25 NMCL004 71.76 -0.80 71.59 73.27 54806 92323
Total NMCL000 955230 XNCLP00 21478
bid and offer. Jan. 20-24 was assessed using an ICE Brent ($/barrel) (PGA page 704)
outstanding bid. Jan. 27-31 was assessed using an Mar 25 ICLL001 76.16 -0.89 76.04 77.89 490838 546592
outstanding bid. Feb. 3-7 was assessed using an Apr 25 ICLL002 75.58 -0.82 75.42 77.16 327534 336726
May 25 ICLL003 75.11 -0.76 74.93 76.58 187567 199323
outstanding bid. Feb. 10-14 was assessed using a
Jun 25 ICLL004 74.72 -0.73 74.53 76.11 142542 201910
traded offer. Total ICLL000 1384424 XILLP00 35352
Johan Sverdrup FOB North Sea (AJSVA00, ICE WTI ($/barrel) (PGA page 704)
AJSVB00) assessment rationale: Feb 25 ICIC001 73.32 -0.93 73.18 75.28 63926 70386
Mar 25 ICIC002 72.67 -0.90 72.55 74.44 102808 91387
Johan Sverdrup was assessed unchanged Jan. 18 to Apr 25 ICIC003 72.16 -0.85 72.03 73.77 79720 50455
Feb. 7, with flat structure rolled across back-end dates, May 25 ICIC004 71.76 -0.80 71.62 73.28 61808 41768
reflecting steady market fundamentals and in the Total ICIC000 408406 XIICP00 7528
ICE BWAVE ($/barrel) (PGA page 704)
absence of indications testing the Jan. 7 assessments.
BWAVE data refer to previous day.
Exclusions:
Mar 25 XIBW001 76.75
PLATTS BRENT DIFF: JAN27-JAN31 (MAR): ONYX Apr 25 XIBW002 76.11
BIDS 100KB AT $0.47 GME Oman crude ($/barrel)** (PGA pages 702 & 2710)
Platts is part of S&P Global Commodity Insights Mar 25 XDOA001 77.69 +1.36 2558
Mar 25 DMOQ001 77.30 +0.66 76.27 77.30 2125 3955
Apr 25 DMOQ002 76.65 +0.60 76.13 76.65 1077 1
Platts North Sea Dated Brent, BFOE, CFD May 25 DMOQ003 76.17 +0.58 75.55 76.17 1076 2
Bids, Offers, Trades Jun 25 DMOQ004 75.75 +0.53 75.75 75.75 0 0
Total Volume DMOQ000 4278 XDOQP00 0

Bids:
NORTH SEA:
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Crude Oil Marketwire January 8, 2025

CIF BASIS ROTTERDAM: PLATTS NSEA WTI Futures Settlements (continued)

Settlement Change Low High Volume* Open interest PNT****
MIDLAND: JANUARY 20-25: PETROINEOS BIDS
IFAD Murban crude ($/barrel) (PGA page 703)
700000.0B AT DTD $1.80 . . Mar 25 AMIFA00 77.760
FOB BASIS HOUND POINT: PLATTS NSEA FORTIES: Murban vs Dubai*** AMIFB00 1.710
JANUARY 28-FEBRUARY 1: MERCURIA BIDS 700000.0B NYMEX ULSD ($/gal) (PGA page 705)
Feb 25 NMHO001 2.3507 -0.0156 2.3302 2.3830 56466 104946
AT DTD $0.45 . .
Mar 25 NMHO002 2.3323 -0.0164 2.3143 2.3647 48377 75554
FOB BASIS HOUND POINT: PLATTS NSEA FORTIES: Apr 25 NMHO003 2.2966 -0.0175 2.2809 2.3299 23527 44047
JANUARY 19-21: MITSUI BIDS 700000.0B AT DTD $0.45 . May 25 NMHO004 2.2712 -0.0176 2.2571 2.3045 12408 28546
Total NMHO000 169021 XNHOP00 6932
.; TQC: {‘1 OCO 2’}
NYMEX RBOB unleaded gasoline ($/gal) (PGA page 705)
FOB BASIS HOUND POINT: PLATTS NSEA FORTIES: Feb 25 NMRB001 2.0102 -0.0164 2.0024 2.0446 50753 98876
JANUARY 18-25: PETROINEOS BIDS 700000.0B AT DTD Mar 25 NMRB002 2.0387 -0.0157 2.0319 2.0697 62051 73390
$0.80 . . Apr 25 NMRB003 2.2583 -0.0106 2.2533 2.2851 33091 49152
May 25 NMRB004 2.2602 -0.0113 2.2550 2.2866 17743 35605
FOB BASIS HOUND POINT: PLATTS NSEA FORTIES: Total Volume NMRB000 199436 XNRBP00 8278
JANUARY 25-FEBRUARY 1: PETROINEOS BIDS NYMEX Natural Gas ($/MMBtu) (PGA page 705)
700000.0B AT DTD $0.80 . . Feb 25 NMNG001 3.651 +0.202 3.427 3.694 176039 139773
FOB BASIS HOUND POINT: PLATTS NSEA FORTIES: Mar 25 NMNG002 3.163 +0.129 3.024 3.190 99218 299226
Apr 25 NMNG003 3.147 +0.116 3.023 3.172 59883 109464
JANUARY 23-25: MITSUI BIDS 700000.0B AT DTD $0.50 May 25 NMNG004 3.240 +0.104 3.116 3.266 40007 131698
. .; TQC: {‘2 OCO 1’} Total Volume NMNG000 515534 XNNGP00
. 5768
FOB BASIS SULLOM VOE: PLATTS NSEA BRENT/ ICE low sulfur gasoil ($/mt) (PGA page 704)
Jan 25 ICLO001 693.75 -8.75 693.25 708.75 51581 41812
NINIAN: JANUARY 29-31: TRAFIGURA BIDS 700000.0B
Feb 25 ICLO002 692.75 -8.75 692.25 707.75 139697 180339
AT DTD $0.75 . . Mar 25 ICLO003 690.25 -8.25 689.50 704.75 101342 126323
CASH BFOE: Apr 25 ICLO004 685.75 -8.00 685.00 699.75 35886 68734
Total Volume ICLO000 428905 XILOP00 8681
None
ICE Midland WTI American Gulf Coast ($/barrel) (PGA page 704)
BRENT CFDS: Feb 25 IHOU001 74.35 -0.99 74.31 75.94 4594 17548
PLATTS BRENT DIFF: JAN13-JAN17 (MAR): Mar 25 IHOU002 73.83 -0.92 73.77 75.56 6135 14423
TRAFIGURA BIDS 100KB AT $0.87 Apr 25 IHOU003 73.44 -0.87 73.40 75.07 6686 14029
May 25 IHOU004 73.09 -0.82 73.03 74.18 5352 15050
PLATTS BRENT DIFF: JAN13-JAN17 (MAR): UNIPEC
*Volume, open interest and PNT reflect prior trading day. PNT reflect volume for Privately Negotiated Trades or off-exchange. **Oman settlements are Post Close
BIDS 100KB AT $0.87 settlements. ***IFAD Murban spread to 1st Line (Mar 25) Platts Dubai crude futures. ****Privately Negotiated Trade values found on PGA page 710
PLATTS BRENT DIFF: JAN13-JAN17 (MAR):
FREEPOINT BIDS 100KB AT $0.87
PLATTS BRENT DIFF: JAN13-JAN17 (MAR): Futures at Platts’ Market on Close ($/barrel) (PGA page 703)
TRAFIGURA BIDS 100KB AT $0.85
Singapore* London* Houston* Singapore* London* Houston*
PLATTS BRENT DIFF: JAN13-JAN17 (MAR): MITSUI ICE Brent NYMEX WTI
BIDS 100KB AT $0.85 Mar XILLA01 77.59 AAYES00 76.16 AAQBG00 76.17 M1 XNCLA01 74.89 AASCR00 73.41 NYCRM01 73.29
PLATTS BRENT DIFF: JAN13-JAN17 (MAR): DARE Apr XILLA02 76.89 AAYET00 75.52 AAQBH00 75.58 M2 XNCLA02 74.11 AASCS00 72.69 NYCRM02 72.65
May AAXZY00 75.03 AAXZZ00 75.09 M3 NYCRM03 72.14
BIDS 100KB AT $0.80 Jun AAYAM00 74.63 AAYAL00 74.71 M4 NYCRM04 71.74
PLATTS BRENT DIFF: JAN13-JAN17 (MAR): Oman *Singapore and London MOC close at precisely 16:30 local time while Houston
PETROINEOS BIDS 100KB AT $0.80 Mar XDOA001 77.69 MOC closes at precisely 13:30 local time. MOC times are usually earlier on the
day preceding major local holidays.
PLATTS BRENT DIFF: JAN13-JAN17 (MAR): Volume XDOAV01 2558

PETROCHINA BIDS 100KB AT $0.80

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Crude Oil Marketwire January 8, 2025

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
01/08/2025 February Bakken Williston (DAPL) Heard -3.30 NYMEX WTI CMA
01/08/2025 February Mars Heard 0.30 Cash WTI
01/08/2025 February Mixed Sweet (MSW) Heard -4.60 NYMEX WTI CMA
01/08/2025 February WCS Hardisty Heard -12.20 NYMEX WTI CMA
Platts Asia
1/8/2025 March Dubai Partial Done 77.67 25,000 ExxonMobil TotalEnergies
1/8/2025 March Dubai Partial Done 77.67 25,000 Trafigura TotalEnergies
1/8/2025 March Dubai Partial Done 77.67 25,000 ExxonMobil TotalEnergies
1/8/2025 March Dubai Partial Done 77.67 25,000 Unipec TotalEnergies
1/8/2025 March Dubai Partial Done 77.67 25,000 Unipec TotalEnergies
1/8/2025 March Dubai Partial Done 77.67 25,000 ExxonMobil TotalEnergies
1/8/2025 March Dubai Partial Done 77.67 25,000 ExxonMobil TotalEnergies
1/8/2025 March Dubai Partial Done 77.67 25,000 Reliance TotalEnergies
1/8/2025 March Dubai Partial Done 77.65 25,000 ExxonMobil TotalEnergies
1/8/2025 March Dubai Partial Done 77.65 25,000 Unipec Mercuria
1/8/2025 March Dubai Partial Done 77.67 25,000 ExxonMobil TotalEnergies
1/8/2025 March Dubai Partial Done 77.65 25,000 Unipec Mitsui
1/8/2025 March Dubai Partial Done 77.67 25,000 PetroChina TotalEnergies
1/8/2025
1/8/2025
March Dubai Partial
March Dubai Partial
Done
Done
77.67
77.67
25,000
25,000
. PetroChina
Unipec
TotalEnergies
TotalEnergies
1/8/2025 March Dubai Partial Done 77.67 25,000 PetroChina TotalEnergies
1/8/2025 March Dubai Partial Done 77.67 25,000 ExxonMobil TotalEnergies
1/8/2025 March Dubai Partial Done 77.67 25,000 Reliance TotalEnergies
1/8/2025 March Dubai Partial Done 77.67 25,000 ExxonMobil TotalEnergies
1/8/2025 March Dubai Partial Done 77.67 25,000 ExxonMobil TotalEnergies
1/8/2025 March Dubai Partial Done 77.70 25,000 PetroChina TotalEnergies
1/8/2025 March Dubai Partial Done 77.67 25,000 Unipec TotalEnergies
1/8/2025 March Dubai Partial Done 77.67 25,000 Unipec TotalEnergies
1/8/2025 March Dubai Partial Done 77.67 25,000 ExxonMobil TotalEnergies
Platts EMEA
01/08/2025 February 3 7 Brent CFD Done 0.8 Cash BFOE Apr 100000 Gunvor Unipec
01/08/2025 January 13 17 Brent CFD Done 0.88 Cash BFOE Mar 100000 Dare Global BP
01/08/2025 January 13 17 Brent CFD Done 0.87 Cash BFOE Mar 100000 DV Trading Trafigura
01/08/2025 January 13 17 Brent CFD Done 0.88 Cash BFOE Mar 100000 Dare Global Mitsui
01/08/2025 January 27 31 Brent CFD Done 0.47 Cash BFOE Mar 100000 Glencore Onyx
01/08/2025 January 27 31 Brent CFD Done 0.49 Cash BFOE Mar 100000 BP Onyx
01/08/2025 January 27 31 Brent CFD Done 0.49 Cash BFOE Mar 100000 Gunvor Onyx
01/08/2025 January 13 17 Brent CFD Done 0.88 Cash BFOE Mar 100000 Gunvor Vitol
01/08/2025 February 3 7 Brent CFD Done 0.82 Cash BFOE Apr 100000 Gunvor Dare Global
01/08/2025 January 27 31 Brent CFD Done 0.48 Cash BFOE Mar 100000 Glencore Unipec
01/08/2025 January 20 24 Brent CFD Done 0.70 Cash BFOE Mar 100000 Gunvor Unipec
01/08/2025 February 3 7 Brent CFD Done 0.80 Cash BFOE Apr 100000 Gunvor Onyx
01/08/2025 January 27 31 Brent CFD Done 0.47 Cash BFOE Mar 100000 Glencore Mercuria
01/08/2025 January 27 31 Brent CFD Done 0.48 Cash BFOE Mar 100000 Gunvor Lukoil
01/08/2025 February 3 7 Brent CFD Done 0.81 Cash BFOE Apr 100000 Gunvor Dare Global
01/08/2025 January 27 31 Brent CFD Done 0.45 Cash BFOE Mar 100000 Glencore Dare Global
01/08/2025 January 20 24 Brent CFD Done 0.70 Cash BFOE Mar 100000 Gunvor Trafigura
01/08/2025 January 20 24 Brent CFD Done 0.7 Cash BFOE Mar 100000 Onyx Mitsui
01/08/2025 January 20 24 Brent CFD Done 0.7 Cash BFOE Mar 100000 Gunvor Trafigura

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Crude Oil Marketwire January 8, 2025

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)

01/08/2025 February 10 14 Brent CFD Done 0.55 Cash BFOE Apr 100000 Gunvor Dare Global
01/08/2025 February 3 7 Brent CFD Done 0.8 Cash BFOE Apr 100000 Gunvor Mercuria
01/08/2025 February 3 7 Brent CFD Done 0.81 Cash BFOE Apr 100000 Gunvor Dare Global
01/08/2025 January 13 17 Brent CFD Done 0.87 Cash BFOE Mar 100000 Gunvor BP
01/08/2025 January 27 31 Brent CFD Done 0.47 Cash BFOE Mar 100000 Gunvor Onyx
01/08/2025 January 27 31 Brent CFD Done 0.48 Cash BFOE Mar 100000 Glencore Freepoint
01/08/2025 February 3 7 Brent CFD Done 0.81 Cash BFOE Apr 100000 Gunvor Dare Global
01/08/2025 February 3 7 Brent CFD Done 0.77 Cash BFOE Apr 100000 Gunvor DV Trading
01/08/2025 February 3 7 Brent CFD Done 0.81 Cash BFOE Apr 100000 Gunvor Dare Global
01/08/2025 February 3 7 Brent CFD Done 0.82 Cash BFOE Apr 100000 Gunvor Dare Global
01/08/2025 February 3 7 Brent CFD Done 0.82 Cash BFOE Apr 100000 Gunvor Dare Global
01/08/2025 January 13 17 Brent CFD Done 0.88 Cash BFOE Mar 100000 Dare Global Unipec
01/08/2025 January 13 17 Brent CFD Done 0.88 Cash BFOE Mar 100000 Gunvor Neste
01/08/2025 January 20 24 Brent CFD Done 0.70 Cash BFOE Mar 100000 Gunvor Trafigura
01/08/2025 February 3 7 Brent CFD Done 0.81 Cash BFOE Apr 100000 Gunvor Onyx
01/08/2025 February 3 7 Brent CFD Done 0.81 Cash BFOE Apr 100000 Gunvor Onyx
01/08/2025 January 27 31 Brent CFD Done 0.49 Cash BFOE Mar 100000 BP Onyx
01/08/2025 January 13 17 Brent CFD Done 0.88 Cash BFOE Mar 100000 Dare Global Petraco
01/08/2025 February 3 7 Brent CFD Done 0.81 Cash BFOE Apr 100000 Gunvor Onyx
01/08/2025 January 13 17 Brent CFD Done 0.88 Cash BFOE Mar 100000 . Dare Global Unipec
01/08/2025 January 27 31 Brent CFD Done 0.49 Cash BFOE Mar 100000 BP Onyx
01/08/2025 January 13 17 Brent CFD Done 0.87 Cash BFOE Mar 100000 Dare Global Trafigura
01/08/2025 January 27 31 Brent CFD Done 0.47 Cash BFOE Mar 100000 Gunvor Petraco
01/08/2025 February 3 7 Brent CFD Done 0.81 Cash BFOE Apr 100000 Gunvor Aramco
01/08/2025 February 3 7 Brent CFD Done 0.8 Cash BFOE Apr 100000 Gunvor Unipec
01/08/2025 February 3 7 Brent CFD Done 0.81 Cash BFOE Apr 100000 Gunvor Dare Global
01/08/2025 February 3 7 Brent CFD Done 0.82 Cash BFOE Apr 100000 Gunvor Dare Global
01/08/2025 March Cash BFOE Done 76.27 100000 Glencore Gunvor
01/08/2025 March Cash BFOE Done 76.27 100000 Shell Gunvor
01/08/2025 March Cash BFOE Done 76.27 100000 Hartree Gunvor
01/08/2025 March Cash BFOE Done 76.27 100000 Hartree Mercuria
01/08/2025 April Cash BFOE Done 75.59 100000 Gunvor Shell
01/08/2025 April Cash BFOE Done 75.62 100000 Gunvor Mercuria
01/08/2025 March Cash BFOE Done 76.27 100000 Glencore Gunvor
01/08/2025 April Cash BFOE Done 75.59 100000 Gunvor Chevron
01/08/2025 April Cash BFOE Done 75.69 100000 Gunvor PetroIneos
01/08/2025 March Cash BFOE Done 76.3 100000 OMV Trafigura
01/08/2025 March Cash BFOE Done 76.27 100000 Glencore Gunvor
01/08/2025 March Cash BFOE Done 76.27 100000 Shell Gunvor
01/08/2025 April Cash BFOE Done 75.62 100000 Gunvor Mercuria
01/08/2025 April Cash BFOE Done 75.62 100000 Gunvor Mercuria
01/08/2025 March Cash BFOE Done 76.27 100000 Hartree Gunvor
01/08/2025 April Cash BFOE Done 75.59 100000 Gunvor PetroIneos
01/08/2025 March Cash BFOE Done 76.27 100000 Chevron Mercuria
01/08/2025 January 20 24 Forties Done 1.4 Dated Brent 700000 BP Gunvor
01/08/2025 January/February 30 3 WTI Midland Done 1.5 Dated Brent 700000 Glencore PetroIneos
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.

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Crude Oil Marketwire January 8, 2025

PLATTS BRENT DIFF: JAN13-JAN17 (MAR): ONYX PLATTS BRENT DIFF: JAN20-JAN24 (MAR): PLATTS BRENT DIFF: FEB3-FEB7 (APR): DV
BIDS 100KB AT $0.75 PETROCHINA BIDS 100KB AT $0.60 TRADING BIDS 100KB AT $0.77
PLATTS BRENT DIFF: JAN13-JAN17 (MAR): DARE PLATTS BRENT DIFF: JAN27-JAN31 (MAR): ONYX PLATTS BRENT DIFF: FEB3-FEB7 (APR): PETRACO
BIDS 100KB AT $0.75 BIDS 100KB AT $0.47 BIDS 100KB AT $0.75
PLATTS BRENT DIFF: JAN20-JAN24 (MAR): UNIPEC PLATTS BRENT DIFF: JAN27-JAN31 (MAR): UNIPEC PLATTS BRENT DIFF: FEB3-FEB7 (APR):
BIDS 100KB AT $0.70 BIDS 100KB AT $0.46 PETROCHINA BIDS 100KB AT $0.75
PLATTS BRENT DIFF: JAN20-JAN24 (MAR): MITSUI PLATTS BRENT DIFF: JAN27-JAN31 (MAR): PLATTS BRENT DIFF: FEB3-FEB7 (APR): FREEPOINT
BIDS 100KB AT $0.70 TRAFIGURA BIDS 100KB AT $0.45 BIDS 100KB AT $0.75
PLATTS BRENT DIFF: JAN20-JAN24 (MAR): PLATTS BRENT DIFF: JAN27-JAN31 (MAR): PLATTS BRENT DIFF: FEB3-FEB7 (APR): TRAFIGURA
PETRACO BIDS 100KB AT $0.70 TRAFIGURA BIDS 100KB AT $0.45 BIDS 100KB AT $0.70
PLATTS BRENT DIFF: JAN20-JAN24 (MAR): PLATTS BRENT DIFF: JAN27-JAN31 (MAR): PLATTS BRENT DIFF: FEB3-FEB7 (APR): TRAFIGURA
TRAFIGURA BIDS 100KB AT $0.70 PETROCHINA BIDS 100KB AT $0.45 BIDS 100KB AT $0.70
PLATTS BRENT DIFF: JAN20-JAN24 (MAR): PLATTS BRENT DIFF: JAN27-JAN31 (MAR): MITSUI PLATTS BRENT DIFF: FEB3-FEB7 (APR): DARE BIDS
TRAFIGURA BIDS 100KB AT $0.65 BIDS 100KB AT $0.45 100KB AT $0.70
PLATTS BRENT DIFF: JAN20-JAN24 (MAR): PLATTS BRENT DIFF: JAN27-JAN31 (MAR): PLATTS BRENT DIFF: FEB3-FEB7 (APR): PHILLIPS 66
PETROINEOS BIDS 100KB AT $0.65 PETROINEOS BIDS 100KB AT $0.45 BIDS 100KB AT $0.65
PLATTS BRENT DIFF: JAN20-JAN24 (MAR): PLATTS BRENT DIFF: JAN27-JAN31 (MAR): DV PLATTS BRENT DIFF: FEB10-FEB14 (APR): DARE
FREEPOINT BIDS 100KB AT $0.65 TRADING BIDS 100KB AT $0.44 BIDS 100KB AT $0.53
.
PLATTS BRENT DIFF: JAN20-JAN24 (MAR): DARE PLATTS BRENT DIFF: JAN27-JAN31 (MAR): DARE PLATTS BRENT DIFF: FEB10-FEB14 (APR): DV
BIDS 100KB AT $0.60 BIDS 100KB AT $0.40 TRADING BIDS 100KB AT $0.52
PLATTS BRENT DIFF: JAN20-JAN24 (MAR): ONYX PLATTS BRENT DIFF: FEB3-FEB7 (APR): MERCURIA PLATTS BRENT DIFF: FEB10-FEB14 (APR): SHELL
BIDS 100KB AT $0.60 BIDS 100KB AT $0.80 BIDS 100KB AT $0.51
PLATTS BRENT DIFF: JAN20-JAN24 (MAR): DV PLATTS BRENT DIFF: FEB3-FEB7 (APR): SHELL BIDS PLATTS BRENT DIFF: FEB10-FEB14 (APR): ONYX
TRADING BIDS 100KB AT $0.60 100KB AT $0.78 BIDS 100KB AT $0.50

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Crude Oil Marketwire January 8, 2025

PLATTS BRENT DIFF: FEB10-FEB14 (APR): PLATTS BRENT DIFF: JAN20-JAN24 (MAR): DV CIF BASIS ROTTERDAM: PLATTS NSEA FORTIES:
FREEPOINT BIDS 100KB AT $0.45 TRADING OFFERS 100KB AT $0.74 JANUARY 20-24: GUNVOR BUYS FROM BP* 700000.0B
PLATTS BRENT DIFF: FEB10-FEB14 (APR): PLATTS BRENT DIFF: JAN20-JAN24 (MAR): DARE AT DTD $1.40 . .; TQC: {‘1 OCO 2 OCO 3’}; (16:20:53)
MERCURIA BIDS 100KB AT $0.45 OFFERS 100KB AT $0.78 CIF BASIS ROTTERDAM: PLATTS NSEA WTI
PLATTS BRENT DIFF: FEB10-FEB14 (APR): PLATTS BRENT DIFF: JAN27-JAN31 (MAR): BP MIDLAND: JANUARY 30-FEBRUARY 3: GLENCORE
PETROCHINA BIDS 100KB AT $0.45 OFFERS 100KB AT $0.50 SELLS TO PETROINEOS* 700000.0B AT DTD $1.50 . .
PLATTS BRENT DIFF: FEB10-FEB14 (APR): PETRACO PLATTS BRENT DIFF: JAN27-JAN31 (MAR): DV (16:27:36)
BIDS 100KB AT $0.45 TRADING OFFERS 100KB AT $0.54 CASH BFOE:
PLATTS BRENT DIFF: FEB10-FEB14 (APR): PLATTS BRENT DIFF: JAN27-JAN31 (MAR): DARE PLATTS CASH BFOE: MAR25: CHEVRON SELLS TO
PETROINEOS BIDS 100KB AT $0.40 OFFERS 100KB AT $0.58 MERCURIA* 100KB AT $76.27 (16:29:36)
Offers: PLATTS BRENT DIFF: JAN27-JAN31 (MAR): ONYX PLATTS CASH BFOE: MAR25: SHELL SELLS TO
NORTH SEA: OFFERS 100KB AT $0.60 GUNVOR* 100KB AT $76.27 (16:29:38)
CIF BASIS ROTTERDAM: PLATTS NSEA FORTIES: PLATTS BRENT DIFF: FEB3-FEB7 (APR): GUNVOR PLATTS CASH BFOE: MAR25: GLENCORE SELLS TO
FEBRUARY 2-6: GUNVOR OFFERS 700000.0B AT DTD OFFERS 100KB AT $0.82 GUNVOR* 100KB AT $76.27 (16:29:43)
$1.90 . . PLATTS BRENT DIFF: FEB3-FEB7 (APR): BP OFFERS PLATTS CASH BFOE: MAR25: TRAFIGURA BUYS
CIF BASIS ROTTERDAM: PLATTS NSEA WTI 100KB AT $0.82 FROM OMV* 100KB AT $76.30 (16:29:45)
MIDLAND: FEBRUARY 4-8: GUNVOR OFFERS PLATTS BRENT DIFF: FEB3-FEB7 (APR): DV PLATTS CASH BFOE: MAR25: HARTREE SELLS TO
700000.0B AT DTD $1.80 . . TRADING OFFERS 100KB AT $0.88 MERCURIA* 100KB AT $76.27 (16:29:46)
.
FOB BASIS HOUND POINT: PLATTS NSEA FORTIES: PLATTS BRENT DIFF: FEB3-FEB7 (APR): ONYX PLATTS CASH BFOE: MAR25: SHELL SELLS TO
FEBRUARY 5-7: ENI OFFERS 700000.0B AT DTD $0.90 . . OFFERS 100KB AT $0.90 GUNVOR* 100KB AT $76.27 (16:29:46)
CASH BFOE: PLATTS BRENT DIFF: FEB3-FEB7 (APR): DARE PLATTS CASH BFOE: MAR25: GLENCORE SELLS TO
PLATTS CASH BFOE: MAR25: OMV OFFERS 100KB OFFERS 100KB AT $0.95 GUNVOR* 100KB AT $76.27 (16:29:48)
AT $76.30 PLATTS BRENT DIFF: FEB3-FEB7 (APR): FREEPOINT PLATTS CASH BFOE: MAR25: HARTREE SELLS TO
IMPLIED: PLATTS CASH BFOE: MAR25: CHEVRON OFFERS 100KB AT $0.95 GUNVOR* 100KB AT $76.27 (16:29:51)
OFFERS 100KB AT $76.39 PLATTS BRENT DIFF: FEB3-FEB7 (APR): CHEVRON PLATTS CASH BFOE: MAR25: GLENCORE SELLS TO
PLATTS CASH BFOE: APR25: GUNVOR OFFERS OFFERS 100KB AT $1.05 GUNVOR* 100KB AT $76.27 (16:29:55)
100KB AT $75.69 PLATTS BRENT DIFF: FEB3-FEB7 (APR): DARE PLATTS CASH BFOE: MAR25: HARTREE SELLS TO
PLATTS CASH BFOE SPREAD: MAR25/APR25: OFFERS 100KB AT $1.05 GUNVOR* 100KB AT $76.27 (16:29:59)
CHEVRON OFFERS 100KB AT $0.70 PLATTS BRENT DIFF: FEB10-FEB14 (APR): GUNVOR PLATTS CASH BFOE: APR25: PETROINEOS BUYS
BRENT CFDS: OFFERS 100KB AT $0.60 FROM GUNVOR* 100KB AT $75.59 (16:29:14)
PLATTS BRENT DIFF: JAN13-JAN17 (MAR): DV PLATTS BRENT DIFF: FEB10-FEB14 (APR): DV PLATTS CASH BFOE: APR25: SHELL BUYS FROM
TRADING OFFERS 100KB AT $0.89 TRADING OFFERS 100KB AT $0.67 GUNVOR* 100KB AT $75.59 (16:29:19)
PLATTS BRENT DIFF: JAN13-JAN17 (MAR): GUNVOR PLATTS BRENT DIFF: FEB10-FEB14 (APR): DARE PLATTS CASH BFOE: APR25: CHEVRON BUYS FROM
OFFERS 100KB AT $0.90 OFFERS 100KB AT $0.70 GUNVOR* 100KB AT $75.59 (16:29:22)
PLATTS BRENT DIFF: JAN13-JAN17 (MAR): ONYX PLATTS BRENT DIFF: FEB10-FEB14 (APR): ONYX PLATTS CASH BFOE: APR25: MERCURIA BUYS
OFFERS 100KB AT $0.95 OFFERS 100KB AT $0.75 FROM GUNVOR* 100KB AT $75.62 (16:29:33)
PLATTS BRENT DIFF: JAN13-JAN17 (MAR): ONYX PLATTS BRENT DIFF: FEB10-FEB14 (APR): PLATTS CASH BFOE: APR25: MERCURIA BUYS
OFFERS 100KB AT $1.05 FREEPOINT OFFERS 100KB AT $0.75 FROM GUNVOR* 100KB AT $75.62 (16:29:46)
PLATTS BRENT DIFF: JAN13-JAN17 (MAR): CHEVRON Trades: PLATTS CASH BFOE: APR25: MERCURIA BUYS
OFFERS 100KB AT $1.05 NORTH SEA: FROM GUNVOR* 100KB AT $75.62 (16:29:50)

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Crude Oil Marketwire January 8, 2025

PLATTS CASH BFOE: APR25: GUNVOR SELLS TO BUYS FROM GUNVOR* 100KB AT $0.48 (16:28:58) PLATTS BRENT DIFF: FEB3-FEB7 (APR): DARE BUYS
PETROINEOS* 100KB AT $75.69 (16:29:57) PLATTS BRENT DIFF: JAN27-JAN31 (MAR): ONYX FROM GUNVOR* 100KB AT $0.82 (16:29:24)
BRENT CFDS: BUYS FROM BP* 100KB AT $0.49 (16:29:06) PLATTS BRENT DIFF: FEB3-FEB7 (APR): DARE BUYS
PLATTS BRENT DIFF: JAN13-JAN17 (MAR): BP BUYS PLATTS BRENT DIFF: JAN27-JAN31 (MAR): ONYX FROM GUNVOR* 100KB AT $0.82 (16:29:29)
FROM GUNVOR* 100KB AT $0.87 (16:26:46) BUYS FROM GUNVOR* 100KB AT $0.49 (16:29:08) PLATTS BRENT DIFF: FEB3-FEB7 (APR): GUNVOR
PLATTS BRENT DIFF: JAN13-JAN17 (MAR): DARE PLATTS BRENT DIFF: JAN27-JAN31 (MAR): ONYX SELLS TO DARE* 100KB AT $0.81 (16:29:34)
SELLS TO TRAFIGURA* 100KB AT $0.87 (16:27:21) BUYS FROM BP* 100KB AT $0.49 (16:29:36) PLATTS BRENT DIFF: FEB3-FEB7 (APR): GUNVOR
PLATTS BRENT DIFF: JAN13-JAN17 (MAR): VITOL PLATTS BRENT DIFF: JAN27-JAN31 (MAR): ONYX SELLS TO ONYX* 100KB AT $0.81 (16:29:35)
BUYS FROM GUNVOR* 100KB AT $0.88 (16:28:28) BUYS FROM BP* 100KB AT $0.49 (16:29:41) PLATTS BRENT DIFF: FEB3-FEB7 (APR): GUNVOR
PLATTS BRENT DIFF: JAN13-JAN17 (MAR): UNIPEC PLATTS BRENT DIFF: JAN27-JAN31 (MAR): SELLS TO DARE* 100KB AT $0.81 (16:29:37)
BUYS FROM DARE* 100KB AT $0.88 (16:28:32) GLENCORE SELLS TO FREEPOINT* 100KB AT $0.48 PLATTS BRENT DIFF: FEB3-FEB7 (APR): GUNVOR
PLATTS BRENT DIFF: JAN13-JAN17 (MAR): DV (16:29:52) SELLS TO UNIPEC* 100KB AT $0.80 (16:29:38)
TRADING SELLS TO TRAFIGURA* 100KB AT $0.87 PLATTS BRENT DIFF: JAN27-JAN31 (MAR): PLATTS BRENT DIFF: FEB3-FEB7 (APR): GUNVOR
(16:28:36) GLENCORE SELLS TO UNIPEC* 100KB AT $0.48 SELLS TO MERCURIA* 100KB AT $0.80 (16:29:39)
PLATTS BRENT DIFF: JAN13-JAN17 (MAR): NESTE (16:29:53) PLATTS BRENT DIFF: FEB3-FEB7 (APR): GUNVOR
BUYS FROM GUNVOR* 100KB AT $0.88 (16:28:42) PLATTS BRENT DIFF: JAN27-JAN31 (MAR): SELLS TO DV TRADING* 100KB AT $0.77 (16:29:39)
PLATTS BRENT DIFF: JAN13-JAN17 (MAR): UNIPEC GLENCORE SELLS TO ONYX* 100KB AT $0.47 (16:29:55) PLATTS BRENT DIFF: FEB3-FEB7 (APR): GUNVOR
BUYS FROM DARE* 100KB AT $0.88 (16:28:53) PLATTS BRENT DIFF: JAN27-JAN31 (MAR): SELLS TO DARE* 100KB AT $0.81 (16:29:42)
.
PLATTS BRENT DIFF: JAN13-JAN17 (MAR): BP BUYS GLENCORE SELLS TO MERCURIA* 100KB AT $0.47 PLATTS BRENT DIFF: FEB3-FEB7 (APR): GUNVOR
FROM DARE* 100KB AT $0.88 (16:28:56) (16:29:57) SELLS TO UNIPEC* 100KB AT $0.80 (16:29:59)
PLATTS BRENT DIFF: JAN13-JAN17 (MAR): MITSUI PLATTS BRENT DIFF: JAN27-JAN31 (MAR): GUNVOR PLATTS BRENT DIFF: FEB10-FEB14 (APR): DARE
BUYS FROM DARE* 100KB AT $0.88 (16:29:51) SELLS TO PETRACO* 100KB AT $0.47 (16:29:58) BUYS FROM GUNVOR* 100KB AT $0.55 (16:29:38)
PLATTS BRENT DIFF: JAN13-JAN17 (MAR): PETRACO PLATTS BRENT DIFF: JAN27-JAN31 (MAR): This assessment commentary applies to the
BUYS FROM DARE* 100KB AT $0.88 (16:29:56) GLENCORE SELLS TO DARE* 100KB AT $0.45 (16:29:58) following market data codes: Dated Brent <PCAAS00>
PLATTS BRENT DIFF: JAN20-JAN24 (MAR): PLATTS BRENT DIFF: FEB3-FEB7 (APR): GUNVOR CFD Week 1 <PCAKA00> CFD Week 2 <PCAKC00> Brent
TRAFIGURA BUYS FROM GUNVOR* 100KB AT $0.70 SELLS TO ONYX* 100KB AT $0.80 (16:27:56) Mo01 <PCAAQ00> CFD Week 3 <PCAKE00> Brent
(16:28:00) PLATTS BRENT DIFF: FEB3-FEB7 (APR): ONYX BUYS Mo02 <PCAAR00> CFD Week 4 <PCAKG00> Brent
PLATTS BRENT DIFF: JAN20-JAN24 (MAR): FROM GUNVOR* 100KB AT $0.81 (16:28:59) Mo03 <PCARR00> CFD Week 5 <AAGLU00> CFD Week
TRAFIGURA BUYS FROM GUNVOR* 100KB AT $0.70 PLATTS BRENT DIFF: FEB3-FEB7 (APR): ARAMCO 6 <AAGLV00> CFD Week 7 <AALCZ00> CFD Week 8
(16:28:19) BUYS FROM GUNVOR* 100KB AT $0.81 (16:29:05) <AALDA00> Johan Sverdrup FOB North Sea <AJSVA00>
PLATTS BRENT DIFF: JAN20-JAN24 (MAR): UNIPEC PLATTS BRENT DIFF: FEB3-FEB7 (APR): DARE BUYS Johan Sverdrup FOB North Sea vs North Sea Dtd Strip
BUYS FROM GUNVOR* 100KB AT $0.70 (16:28:24) FROM GUNVOR* 100KB AT $0.82 (16:29:11) <AJSVB00>
PLATTS BRENT DIFF: JAN20-JAN24 (MAR): PLATTS BRENT DIFF: FEB3-FEB7 (APR): GUNVOR
TRAFIGURA BUYS FROM GUNVOR* 100KB AT $0.70 SELLS TO DARE* 100KB AT $0.81 (16:29:12) Platts WTI Midland Crude DAP Europe
(16:29:02) PLATTS BRENT DIFF: FEB3-FEB7 (APR): DARE BUYS Assessment Rationale & Exclusions
PLATTS BRENT DIFF: JAN20-JAN24 (MAR): MITSUI FROM GUNVOR* 100KB AT $0.82 (16:29:15) WTI Crude DAP Europe <AWTIC00> assessment
BUYS FROM ONYX* 100KB AT $0.70 (16:29:12) PLATTS BRENT DIFF: FEB3-FEB7 (APR): GUNVOR rationale:
PLATTS BRENT DIFF: JAN27-JAN31 (MAR): GUNVOR SELLS TO DARE* 100KB AT $0.81 (16:29:16) WTI DAP Rotterdam was assessed higher in a 2.5
SELLS TO ONYX* 100KB AT $0.47 (16:27:55) PLATTS BRENT DIFF: FEB3-FEB7 (APR): GUNVOR cents/day contango structure between Feb. 7 and
PLATTS BRENT DIFF: JAN27-JAN31 (MAR): LITASCO SELLS TO ONYX* 100KB AT $0.81 (16:29:19) Feb. 27 owing to support demonstrated for prompter

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Crude Oil Marketwire January 8, 2025

arrivals of WTI Midland into Europe. There were no 581,028 b/d. (AALDF00) plus the Urals CIF Augusta differential
bids, offers or trades in the Platts Market on Close Overall, some 16.33 million barrels are scheduled, assessment (AAGXX00).
assessment process for DAP WTI Midland. below the 18.24 million barrels in January, with the Urals RCMB (Recombined) <AALIN00> assessment
WTI Crude DAP Augusta <AWTIA00> assessment number of cargoes set to fall to 23. rationale:
rationale: Socar is scheduled to load 74% of the program, 4 The Urals RCMB (Recombined) assessment
WTI DAP Augusta was assessed higher in a 2.5 percentage points lower on the month. reflected the value of the Platts Dated Brent
cents/day contango structure between Feb. 7 and Platts last assessed Azeri Light at a $2.05/b assessment (PCAAS00) plus the Urals CIF Augusta
Feb. 27 owing to support demonstrated for prompter premium to Dated Brent Jan. 7, steady on the day. differential assessment (AAGXX00).
arrivals of WTI Midland into Europe. There were no Trading activity in the Mediterranean sweet crude Urals CIF Rdam <PCAFW00> assessment rationale:
bids, offers or trades in the Platts Market on Close market has been limited over the past few days, Urals CIF Rotterdam was assessed 3.5 cents/b
assessment process for DAP WTI Midland. according to sources, as the market awaits the start of higher. There were no bids or offers in the MOC. The
Exclusions: None the February trading cycle. Urals CIF Rotterdam differential was assessed as a net
Platts is part of S&P Global Commodity Insights The February program for Libyan crudes — light, forward to the Urals FOB Baltic assessment. The FOB
sweet crudes that compete with Azerbaijan’s Azeri differentials were assessed 10 cents/b higher based on
Platts WTI Midland Crude DAP Europe Bids, Light crude — was expected to be released Jan. 9 with indications heard throughout the day.
Offers, Trades the February CPC Blend program expected later in Med Dated Brent Strip 13-28 Day <AALDF00>
the week. assessment rationale:
Bids: None “Libyan [programs] to be expected tomorrow and The Mediterranean Dated Brent Strip reflected the
.
Offers: None maybe after that [Azeri Light] will get more active,” one value of Forward Dated Brent 13-28 days ahead of the
Trades: None trader said. “People are in waiting mode for their Libyan day of publication. Forward Dated Brent is assessed
This assessment commentary applies to the allocations.” as a function of Platts assessments of second-month
following market data codes: WTI Midland DAP Market participants said some January-loading Cash BFOE (PCAAR00) and BFOE CFD differentials
basis Rotterdam <AWTIC00> WTI Midland DAP basis Azeri Light barrels remained unsold following the (PCAKA00, PCAKC00, PCAKE00, PCAKG00, AAGLU00,
Rotterdam vs Fwd Dated Brent <AWTID00> WTI reduced trading activity during the year-end holidays. AAGLV00, AALCZ00).
Midland DAP basis Augusta <AWTIA00> WTI Midland Platts is part of S&P Global Commodity Insights CPC Blend CIF Augusta vs BTC Dtd Strip
DAP basis Augusta vs Fwd Dated Brent <AWTIB00> <AAHPL00> assessment rationale:
Platts EMEA Urals and Med Brent Crude Daily CPC Blend was assessed 15 cents/b higher based
Platts Mediterranean & Black Sea Sweet Rationales & Exclusions on indications heard throughout the day.
Crude Daily Commentary Urals CIF Augusta differential <AAGXX00> Exclusions: None
assessment rationale: Platts is part of S&P Global Commodity Insights
„ Azeri Light crude Feb loadings set at 583,214 b/d
Urals CIF Augusta was assessed 14 cents/b higher.
„ Market in transition to February trading cycle There were no bids or offers in the Platts Market on Platts EMEA Urals & Med Brent Crude Bids,
Close assessment process. The Urals CIF Augusta Offers, Trades
Loadings of Azeri Light crude at the Turkish port differential was assessed using a net forward to the
of Ceyhan in February are set to average 583,214 b/d, Urals FOB Aframax and Suezmax assessment. The FOB Bids: None
some 5,254 b/d below January, according to a copy of differentials were assessed 10 cents/b higher based on Offers: None
the loading program seen by S&P Global Commodity indications heard throughout the day. Trades: None
Insights Jan. 8. Urals CIF Med <PCACE00> assessment rationale: This assessment commentary applies to
February’s loadings are set to be the lowest since The Urals CIF Mediterranean assessment reflected the following market data codes: Urals CIF Med
October but in line with the 12-month average of the value of the Mediterranean Dated Brent Strip <PCACE00>> Urals CIF Rdam <PCAFW00> ESPO FOB

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Crude Oil Marketwire January 8, 2025

Kozmino Mo01 London <AARWD00> CPC CIF Augusta Platts US Pipeline Crude Daily Commentary Administration data released Jan. 8.
Diff <AAHPL00> The US exported 3.08 million b/d, 776,000 b/d lower
„ WTI MEH slides 5 cents, ends day at $1/b premium
than the previous week and 1.82 million b/d lower than
to cash WTI
Platts West African Crude Daily three weeks earlier. This is the lowest export total
Commentary „ Global crude futures fall amid US commercial since the week ended Nov. 1, when exports were 2.85
stock draw million b/d.
„ Sonangol sells final spot cargo from Feb program
Commercial stocks in Cushing, Oklahoma, fell
„ IOC tenders for March arriving crude US Gulf Coast crude differentials largely held steady to 20.04 million barrels, the lowest level since
Jan. 8 amid a fall in global crude futures. October 2014. The 2.5-million-barrel decline from the
Angolan state oil company Sonangol had sold WTI in the Permian basin was assessed unchanged previous week is the largest single-week draw since
its final February spot crude cargo, trading sources at an 80 cents/b premium to cash WTI, based on trade August 2023.
said Jan. 8, a 950,000-barrel clip of Cabinda headed information. Total commercial stocks also fell to 414.6 million
to Indonesia following the culmination of a recent WTI at the Magellan East Houston terminal slid 5 barrels, the lowest level since mid-September 2024.
buy tender. cents to a $1/b premium over cash WTI, based on trade This is the seventh consecutive weekly decline since
Trading pace remained relatively healthy in Angola information. mid-November, the longest stretch since the period
with soft freight costs on the West Africa-East voyage Platts assessed Mars unchanged at a 30 cents/b from November 2021 to January 2022. Commercial
still at low levels, supporting cash differentials. premium to cash WTI after it was heard traded at that stocks have declined in 20 of the last 28 weeks.
Asian demand, whether from China or elsewhere, value. The grade differential has been rangebound The declines in commercial stocks and exports
.
was the main supportive factor for the WAF crude between premiums of 20 and 30 cents/b since Dec. 23. come as domestic refinery runs rose for the third
market at the current juncture of the February WTI Midland and Mars each declined 93 cents/b straight week to a five-week high of 16.9 million b/d.
trading cycle. on an outright basis, while WTI MEH fell 98 cents/b Platts assessed WTI loading on an FOB basis in
“It seems India and Southeast Asia are pulling outright. the US Gulf Coast 9 cents weaker against the NYMEX
which is helping Angola and other regions,” said one Global crude futures fell amid a smaller-than- WTI strip at a $2.10/b premium. WTI FOB USGC gained
WAF crude trader. “Things are slowly getting better.” expected US commercial inventory draw of 960,000 3 cents on the Dated Brent strip, ending the day at
Indeed, on the day India Oil Corp circulated its barrels to 414.6 million barrels in the week ending Jan. minus $1.65/b. WTI FOB USGC slid $1.01 on the day and
latest buy tender in search of a variety of crude grades, 3, according to US Energy Information Administration was assessed at $74.77/b on an outright basis.
including many from West Africa, for March delivery. data released Jan. 8. Platts is part of S&P Global Commodity Insights.
Trading sources have said that the results of early NYMEX February WTI closed 93 cents lower at
Asian tendering will give better clarity for the health of $73.32/b, and ICE March Brent fell 89 cents to $76.16/b. Platts Canadian Pipeline Crude Daily
the market. Platts is part of S&P Global Commodity Insights. Commentary
Despite buoyed initial offers for February cargoes
„ WCS Hardisty sees weaker differentials
from Nigeria and more bullish sentiment from several Platts US Gulf Coast Export Crude Daily
market participants, the trader said that “Nigeria is not Commentary „ EIA reports record US imports of Canadian crude
really moving” and estimated as many as six January
„ US crude exports hit nine-week low, EIA says
cargoes were still unsold. The differential for Western Canadian Select at
Loading programs for March were expected in „ Commercial stocks in Cushing, Oklahoma, fall to Hardisty, Alberta finished weaker Jan. 8, as the Energy
around a week’s time in Angola and around two weeks 10-year low Information Administration reports the highest level for
in Nigeria. US imports of Canadian crude on record.
US crude exports hit a nine-week low in the week Platts assessed Western Canadian Select, at
ended Jan. 3, according to US Energy Information Hardisty at a $12.20/b discount to the WTI CMA, down

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Crude Oil Marketwire January 8, 2025

25 cents on the day. WCS Hardisty differentials moved and 90 cents/b, respectively, to the Latin American Exclusions: Platts did not exclude any market data
weaker after fresh trades were heard. On an outright Dated Brent strip, moving with Payara Gold. from the Jan. 8 assessment process.
basis, WCS Hardisty finished at $60.31/b, down $1.13/b. In Brazil, Tupi gained significantly on the day with Platts is part of S&P Global Commodity Insights.
Platts assessed heavy Canadian crude at Cushing, “very strong demand from China [at the moment],”
Oklahoma and Nederland, Texas at a $5.35/b discount according to a market source and rising shipping costs. Platts Unity Gold FOB Guyana Daily Rationale &
to the WTI CMA, and a $4.35/b discount to the WTI Platts assessed Tupi at a discount of 9 cents/b to the Exclusions
CMA, respectively. Both grades were down 25 cents Latin American Dated Brent strip, gaining 29 cents/b on Unity Gold FOB Guyana <AUNIA00> assessment
day on day. On an outright basis, WCS Cushing and the day as an April loading cargo was heard traded at a rationale:
WCS Nederland both finished down $1.13/b at $67.16/b premium in the “low $3s” against March Dated Brent. Platts assessed Unity Gold crude Jan. 8 based on
and $68.16/b, respectively. Additionally, the freight cost of a VLCC from Brazil to movements of competing crude grades. There was
US imports of Canadian crude averaged 4.422 China, the largest consumer of Tupi, jumped w1.25 on no activity during the Jan. 8 Platts Market on Close
million b/d in the week ended Jan. 3, according to data the day to w48.5 according to the Platts Dirty Tanker assessment process.
released by the EIA Jan. 8. This is the highest level of assessment on the day. Exclusions: Platts did not exclude any market data
Canadian crude inflows reported by the EIA in data Platts is part of S&P Global Commodity Insights. from the Jan. 8 assessment process.
going back to 2010. Platts is part of S&P Global Commodity Insights.
The weekly figure was 689,000 b/d higher week over Platts Latin American Dated Brent Strip
week and 865,000 b/d lower than the volume imported Rationale
from Canada during the equivalent week in 2024. Platts Latin American Dated Brent strip Subscriber Notes
.
US imports of Canadian crude over the four-week <AAXBR00> assessment rationale:
period ended Jan. 3 averaged 4.103 million b/d, up This assessment reflects the value of forward Platts corrects the P-5 WTI Average for Dec. 20, 23,
500,000 b/d from the same four-week period in 2024. Dated Brent at the US close for the loading period 30, 31
Platts is part of S&P Global Commodity Insights. reflected in the Latin American crude market. Dated Platts, part of S&P Global Commodity Insights, has
Brent-related differentials for all Latin American corrected the P-5 WTI Average as follows:
Platts Latin American Crude Daily crudes reflect values relative to the value of forward Dec. 20 $66.02/b
Commentary Dated Brent that prevails at the time of loading. As Dec. 23 $65.75/b
an example, on June 1, Platts assesses the value of Dec. 30 $67.59/b
„ Guyanese differentials move with increased
Latin American crudes loading in the month of July. Dec. 31 $68.27/b
demand for February loading cargoes
Therefore, the Dated Brent related basis for Platts The P-5 WTI Average (AAFEN00) is published on
„ Brazil’s Tupi gains as Chinese demand strengthens Latin American crude assessments on June 1 reflects Platts Global Alert pages 250 and 210, in Oilgram Price
the average of prevailing Dated Brent swaps for July Report, North American Crude and Product Scan and
Guyanese differentials adjusted for stronger 1-31. in Crude Oil Marketwire.
February loading cargoes with higher demand from Platts is part of S&P Global Commodity Insights. Please send any feedback or questions
Europe for medium and heavy crudes. to [email protected] and
Platts assessed Payara Gold, a medium sour, at a Platts Liza FOB Guyana Daily Rationale & [email protected].
discount of 80 cents/b to the Latin American Dated Exclusions
Brent strip, gaining 50 cents/b on the day with one Liza FOB Guyana <ALIZA00> assessment rationale: Platts backfills Indian MPP crude prices for Jan 2
market source sharing that Europe is “short, especially Platts assessed Liza crude Jan. 8 based on Please note that Platts, part of S&P Global
on medium and heavy.” movements of competing crude grades. There was Commodity Insights, has backfilled the Jan. 2,
Platts also assessed Guyana’s Liza and Unity Gold no activity during the Jan. 8 Platts Market on Close 2025 market parity prices for Cambay, Ravva and
50 cents/b stronger on the day at discounts of $1.10/b assessment process. Rajasthan crude.

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Crude Oil Marketwire January 8, 2025

The assessments should read as follows: FOB Ceyhan. The QPs are published to four decimal places and
Market Parity Price ($/barrels) The Es Sider to Augusta flat rate for Es Sider. at 60% of the net price differences between Ekofisk,
Symbol Singapore MOC Change The Novorossiisk to Augusta flat rate for Urals FOB Oseberg, Troll and the most competitive grade of crude
Cambay MPP AMPPA00 74.135 +0.250
Ravva MPP AMPPB00 77.650 +0.545
Novorossiisk and KEBCO FOB Novorossiisk. among Brent, Forties, Oseberg, Ekofisk, Troll and WTI
Rajasthan MPP AMPPC00 73.740 +0.320 The Novorossiisk CPC terminal to Augusta flat rate Midland during the month prior to announcement.
for CPC FOB Novorossiisk CPC terminal. Platts, part of S&P Global Commodity Insights,
These MPPs appear in Platts Global Alert and Platts The Sidi Kerir to Augusta flat rate for Iranian Light announces QPs on the first publishing day of each
Crude Oil Alert page 2280 and Crude Oil Marketwire and Iranian Heavy. month, a month prior to the escalators coming
under the price database codes listed above. The Skikda to Augusta flat rate for Saharan Blend. into effect.
The Supsa to Augusta flat rate for Azeri Light FOB Please send any comments and queries
Platts updates European, African crude oil freight Supsa/Batumi. to [email protected] and
netbacks for 2025 The Rotterdam port charge used will be 13 cents/b. [email protected].
Effective Jan. 2, Platts, part of S&P Global
Commodity Insights, has updated Worldscale freight Latin America delivered-Rotterdam Platts amends conversion factor for several CFR
rates for 2025 across its European and African crude P75 FPSO to Rotterdam for Buzios. North Asia crude assessments Jan 2
oil price assessments. Please send all comments to Platts, part of S&P Global Commodity Insights, has
All applicable flat rate values are available via [email protected] and amended the conversion factor for several CFR North
Worldscale. [email protected]. Asia crude assessments effective Jan. 2, 2025.
.
The following freight netback and net forward For written comments, please provide a clear The amendments reflect the prevailing qualities
calculations will be updated to reflect the changes: indication if comments are not intended for publication of these grades based on the most recent assays
by Platts for public viewing. available. The conversion factor for barrels to metric
Dated Brent CIF Rotterdam Platts will consider all comments received and will tonnes applied for these grades is used in the freight
The Sullom Voe to Rotterdam flat rate for Brent/ make comments not marked as confidential available calculation.
Ninian Blend. upon request. The affected assessments, their amended
The Hound Point to Rotterdam flat rate for conversion factors, updated API gravity, and their
Forties Blend. Platts Quality Premiums for February-loading North corresponding price database codes are as follows:
The Sture to Rotterdam flat rate for Oseberg. Sea crude cargoes Conversion
Grade API gravity Code Mavg code
The Teesside to Rotterdam flat rate for Ekofisk. Effective Jan. 2, the North Sea Quality Premiums for factor
Oman 7.32 33.2 PCAQJ00 PCAQJ03
The Mongstad to Rotterdam flat rate for Troll. February-loading North Sea crude oil cargoes will be Upper Zakum 7.32 33.2 PCAQB00 PCAQB03
The Rotterdam port charge used will be 13 cents/b. as follows: Qatar Marine 7.23 31.2 PCAQC00 PCAQC03
Murban 7.62 40 PCAQE00 PCAQE03
Crude Grade Quality Premium
Urals and Mediterranean Oseberg
Ekofisk
0.9125
0.5228
The Primorsk to Rotterdam flat rate for Urals ex- Troll 0.9257 These assessments appear on Platts Global Alert,
Primorsk. Platts Crude Oil Alert pages 2202 and 2203, Platts
The Gdansk to Rotterdam, Primorsk to Rotterdam Quality Premiums are available on Platts Global Crude Oil Marketwire and Platts Oilgram Price Report.
and Ust-Luga to Rotterdam flat rates for Urals Alert pages 1210 and 1212 and in the Platts Pricing Platts will continue to periodically review the
ex-Baltic. Database under the following codes: qualities and conversion factors of the 11 crude grades
The Ust-Luga to Rotterdam flat rate for KEBCO FOB Grade Current Month Month Ahead for which it publishes CFR North Asia assessments to
Oseberg AAXDW00 AAXDX00
Ust-Luga. Ekofisk AAXDY00 AAXDZ00
ensure they reflect prevailing qualities.
The Ceyhan to Augusta flat rate for Azeri Light Troll ATFNB00 ATFNA00 Please send all comments, feedback and

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Crude Oil Marketwire January 8, 2025

questions to [email protected] and Dated Brent CIF Rotterdam Platts to assess Forties sulfur de-escalator at 25
[email protected] Sullom Voe to Rotterdam flat rate for Brent/ cents/b for January
For written comments, please provide a clear Ninian Blend. Effective Jan. 1, 2024, the sulfur de-escalator to
indication if comments are not intended for publication Hound Point to Rotterdam flat rate for be applied to Forties crude oil cargoes and related
by Platts for public viewing. Platts will consider all Forties Blend. instruments in the Platts North Sea assessment
comments received and will make comments not Sture to Rotterdam flat rate for Oseberg. process will be 25 cents/b per 0.1% weight of sulfur
marked as confidential available upon request. Teesside to Rotterdam flat rate for Ekofisk. over the 0.6% weight standard, unchanged from
Mongstad to Rotterdam flat rate for Troll. December.
Platts confirms Americas publication schedule for The Rotterdam port charge used will be 13 cents/b. The de-escalator should apply to cargoes loading
Jan. 9 Urals and Mediterranean from Jan. 1.
Platts, part of S&P Global Commodity Insights, Primorsk to Rotterdam flat rate for Urals Platts, part of S&P Global Commodity Insights,
confirms it will publish all Americas spot assessments ex-Primorsk has assessed the de-escalator level after reviewing
on Jan. 9, 2025, in light of announcements by North Gdansk to Rotterdam, Primorsk to Rotterdam and changes in the outright value of crude, product cracks
American commodity exchanges regarding a national Ust-Luga to Rotterdam flat rates for Urals ex-Baltic. and the difference in value between sweet and sour
day of mourning to mark the death of former US Ust-Luga to Rotterdam flat rate for KEBCO FOB North Sea crude differentials.
President Jimmy Carter. All assessments will follow Ust-Luga. A rationale for the decision will be available shortly
their regular timestamps. Ceyhan to Augusta flat rate for Azeri Light on www.platts.com.
Platts may review its publication schedule following FOB Ceyhan. Platts guidelines for its sulfur de-escalator use
.
any changes to the Chicago Mercantile Exchange’s Es Sider to Augusta flat rate for Es Sider. three significant figures for the determination of sulfur-
and/or ICE’s published settlements on Jan. 9. Novorossiisk to Augusta flat rate for Urals FOB related payment.
Full details of Platts publication calendar can Novorossiisk and KEBCO FOB Novorossiisk. Please send any feedback or questions
be found here. For any questions or comments, Novorossiisk CPC terminal to Augusta flat rate for to [email protected] and
please email [email protected] or CPC FOB Novorossiisk CPC terminal. [email protected].
[email protected]. Sidi Kerir to Augusta flat rate for Iranian Light and For written comments, please provide a clear
Iranian Heavy. indication if comments are not intended for publication
Platts to update European, African crude oil freight Skikda to Augusta flat rate for Saharan Blend. by Platts for public viewing.
netbacks for 2025 Supsa to Augusta flat rate for Azeri Light FOB Platts will consider all comments received and will
Following a Worldscale Association update for Supsa/Batumi. make comments not marked as confidential available
the calculation of the Rotterdam port fee detailed in The Rotterdam port charge used will be 13 cents/b. upon request.
circular No.8, Platts, part of S&P Global Commodity Latin America delivered-Rotterdam
Insights, will amend the $/b port fee used to derive its P75 FPSO to Rotterdam for Buzios. Platts to publish additional crude grade carbon
North Sea Freight Adjustment Factors, netback and Please send all comments to intensity values
net forward calculations, effective Jan. 2. [email protected] and Platts, part of S&P Global Commodity Insights, will
Platts will reflect updated Worldscale freight rates [email protected]. begin publishing monthly carbon intensity calculations
for 2025 across its European and African crude oil For written comments, please provide a clear for 27 additional crude oil fields in Asia, Africa, the
price assessments. indication if comments are not intended for publication Middle East, Eastern Europe, Latin America and North
All applicable flat rate values are available via by Platts for public viewing. America, effective January 15, 2024.
Worldscale. Platts will consider all comments received and will This data is produced by the S&P Global Commodity
The following freight netback and net forward make comments not marked as confidential available Insights analytics team. These crude carbon intensity
calculations will be updated to reflect the changes: upon request. values will be published in both gCO2e/MJ and

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Crude Oil Marketwire January 8, 2025

kgCO2e/b units, and will be added to the list of Platts Platts confirms North Sea-Rotterdam FAF-weighted Oil Marketwire.
existing crude grade carbon intensity calculations, average flat rate from Jan. 2, 2025 Please send all feedback and questions
bringing the current total number of grades to 68, and Platts, part of S&P Global Commodity Insights, to [email protected] and
increasing transparency on carbon intensities in the confirms that the weighted average flat rate used [email protected].
global crude market. for the North Sea-Rotterdam WTI Midland Freight For written comments, please provide a clear
The new grades include: Adjustment Factor from Jan. 2, 2025, will be $6.96/mt. indication if comments are not intended for publication
Iranian Heavy Es Sider Thunder Horse This follows a subscriber note published Nov. 1 by Platts for public viewing. Platts will consider all
Iranian Light Al Jurf Poseidon
Foroozan Arab XL Hebron
confirming the weightings for 2025: comments received and will make feedback not
Basrah Heavy Arabian Super Light Hibernia https://www.spglobal.com/commodity-insights/ marked as confidential available to the public upon
Kirkuk Arab Medium Cusiana
Basrah Light Arab Heavy Agbami-Ekoli
en/pricing-benchmarks/our-methodology/subscriber- request.
CPC Blend ESPO Bonga notes/110124-platts-to-amend-weightings-in-north-
Kuwait Ural Bozhong
El Sharara Mars Azeri Light
sea-rotterdam-freight-adjustment-factor-for-2025 Platts to publish last February 2025 Cash BFOE value
Platts calculates the WTI Midland Freight on Dec. 31, 2024
In line with the current methodology for carbon Adjustment Factor (FAF), reflected in Dated Brent, as Platts, part of S&P Global Commodity Insights,
intensity scores produced by the S&P Global a weighted average based on relative production of clarifies the February 2025 Cash BFOE assessment will
Commodity Insights analytics team, the carbon Brent, Forties, Oseberg, Ekofisk and Troll. be published for the last time on Dec. 31, 2024.
intensity of these 27 new grades will be calculated The weightings for 2025 will be amended, as follows: The first assessment in which March 2025 is M1
using Stanford’s Oil Production Greenhouse Gas Teesside: 37% Cash BFOE will be published on Jan. 2, 2025, the first
.
Emissions Estimator (OPGEE) 2.0 model, combined Hound Point: 30% publishing day of 2025.
with proprietary research and data from S&P Global. Mongstad: 17% Platts Cash BFOE assessments typically coincide
Platts upstream crude carbon intensity calculations Sture: 10% with the equivalent month of ICE Brent Futures.
measure the impact of greenhouse gas emissions in Sullom Voe: 6% However, ICE Brent futures for February 2025 are
the production lifecycle from production to storage Based on these weightings and the current 2025 due to expire at 1930 GMT on Dec. 30, rather than the
terminal. The methodology guide and a complete list of World Scale flat rates, the average flat rate used in the last business day of the month — Dec. 31.
existing grades, fields, and transport routes for Platts WTI Midland FAF calculation will be $6.96/mt. Please Platts will be publishing intraday Cash BFOE
upstream carbon intensity, midstream carbon intensity, note that the average flat rate is subject to revision assessments at 10:30 am, 12:30 pm, 2:30 pm and
and carbon offset premiums is available here. should any of the five terminal-to-Rotterdam flat rates 7:30 pm London time on Dec. 30 as usual to ensure
These values will not have a corresponding carbon be updated. consistency with Platts methodology and to provide
intensity premium. The 10-day rolling average of the Platts Dirty as much information as possible on the value of Cash
Please send all questions, comments and Cross-UK/Continent 80,000 mt Worldscale freight BFOE to subscribers.
feedback to [email protected], assessment [TDUUW00] and the Rotterdam port These intraday assessments will be available under
[email protected], and fee will be applied to the average flat rate and their usual codes on PGA page 1216, PCR page 1216 and
[email protected]. multiplied by 80%. in the Crude Oil Marketwire.
For written comments, please provide a clear Platts publishes the North Sea-Rotterdam Freight However, in line with existing methodology, Platts
indication if comments are not intended for publication Adjustment Factor, used for the adjustment of WTI will continue to publish an assessment for February
by Platts for public viewing. Midland from CIF Rotterdam to FOB North Sea- 2025 Cash BFOE on Dec. 31.
Platts will consider all comments received and will equivalent value, to the code FSFRM00. Please note that all European oil assessments will
make comments not marked as confidential available The FAF is published at 11 am London time ahead be basis 12:30 pm London time on Dec. 31, with all
upon request. of the Platts Market on Close assessment process to cut-offs and timings commensurate with a close at
pages PGA and PCR 1218. It is also published in Crude that time.

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Crude Oil Marketwire January 8, 2025

That will include Platts Dated Brent and Cash BFOE settle, open, low, high, open interest and volume. The updated analytics methodology reallocates
M1, M2 and M3. The assessment month for the new differential will missions to natural gas where it is produced as a co-
On Dec. 31, Platts will publish one intraday roll over on the first business day after the expiration product to crude. The previous methodology assigned
assessment at 10:30 am London time, which will be of the prompt contract. all emissions to oil production. As a result, for fields
available under its normal code on PGA page 1216, PCR Platts WTI Midland quality specifications are in that co-produce a large amount of natural gas, the
page 1216 and in the Crude Oil Marketwire. line with quality specifications outlined in the ICE HOU kgCO2e/bbl value will be lower than where it would
No later intraday assessments will be published on contract. have been according to the previous methodology.
Dec. 31. The new assessment will be available on Platts For fields that have nearly 100% oil production,
Platts understands that fallback day will occur Dec. Global Alert pages 210, 211, 214 and 215. there will be a minimal impact on how emissions are
27, the day before the expiry of the February ICE Brent It will be published in Crude Oil Marketwire, currently reported.
futures contract, in line with typical market norms. North America Crude and Product Scan and Oilgram To exemplify this change:
Platts only publishes bids and offers for full 700,000 Price Report. Troll Grade Marginal Carbon Intensity monthly
barrel Cash BFOE cargoes or spreads for M1 on fallback This was first proposed in a note published Nov. 26, calculation, which was assessed by S&P Global
day and expiry day. and available here: Commodity Insights at 280.64 kg CO2e/bbl for July,
Further information on this can be found here. https://www.spglobal.com/commodity-insights/ would have been assessed at 20.30 kgCO2e/bbl under
Please send all questions and comments en/pricing-benchmarks/our-methodology/subscriber- the new methodology.
to [email protected] and notes/112624-platts-proposes-to-launch-west-texas- The updated methodology would lead to a change
[email protected]. midland-crude-differential-to-ice-hou-contract in the Troll CI Premium from Aug. 15, which would go
.
For written comments, please provide a clear Please send any comments or feedback from $3.227/barrel using the current methodology
indication if comments are not intended for publication to [email protected] and to 23.3 cents/b under the new carbon intensity
by Platts for public viewing. [email protected] . methodology.
Platts will consider all comments received and will For written comments, please provide a clear This and other examples can be found below:
make comments not marked as confidential available indication if comments are not intended for publication Current New
Description Symbol Date Published
upon request. by Platts for public viewing. Methodology Methodology
Troll Grade
Platts will consider all comments received and will Marginal
Platts to launch West Texas Midland crude make comments not marked as confidential available Carbon TXROC40 July 1, 2024 280.64 20.30
differential to ICE HOU contract upon request. Intensity
KgCO2e/bbl
Platts, part of S&P Global Commodity Insights, will Troll Grade
launch a daily assessment of West Texas Intermediate S&P Global Commodity Insights updates Crude Marginal
Carbon TXROC00 Aug 15, 2024 3.227 0.233
crude in Midland, Texas, as a differential to the ICE Carbon Intensity Methodology Intensity
Midland WTI futures contract, known as HOU, effective The S&P Global Commodity Insights analytics team Premium $/bbl
Jan. 22, 2025. has updated its methodology for calculating crude Dubai
Upstream
The new assessment will be in addition to Platts’ carbon intensity values, effective Dec. 13, 2024. Marginal
AGINI40 July 1, 2024 26.27 16.86
existing WTI Midland assessment prices published Platts, part of S&P Global Commodity Insights, Carbon
against cash WTI. publishes these monthly carbon intensity values Intensity
KgCO2e/bbl
ICE HOU’s pricing and physical delivery point is in for 41 crude grades and uses the information from Dubai
Houston. Platts will publish one contract month of the the analytics team to calculate daily Crude Carbon Upstream
Marginal
WTI Midland differential against the corresponding ICE Intensity Premiums. AGINA00 Aug 15, 2024 0.302 0.194
Carbon
HOU contract. Platts currently publishes settlement The methodology changes will impact these Intensity
prices for ICE HOU values for six months, including the premiums from Dec. 16, 2024. Premium $/bbl

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Crude Oil Marketwire January 8, 2025

Napo
Upstream
include the additional units of gCO2e/MJ for all crude These additional values do not impact the existing
Marginal grades already published by Commodity Insights crude grade carbon intensity premiums already
AMGMD40 July 1, 2024 38.57 27.70
Carbon in kgCO2e/barrel. Reporting in both gCO2e/MJ and published by Platts, which use carbon intensity values
Intensity
KgCO2e/bbl
kgCO2e/barrel provides the information required to in kgCO2e/barrel.
Napo fully analyze the crude grades. Please send all questions, comments and
Upstream
The new units are available for the following grades: feedback to [email protected],
Marginal
Carbon
AMGLK00 Aug 15, 2024 0.444 0.319 Description Symbol [email protected] and
Al-Shaheen Grade Marginal Carbon Intensity Mthly gCO2e/MJ AGINK41
Intensity
Arab Light Grade Marginal Carbon Intensity Mthly gCO2e/MJ AGINN41
[email protected].
Premium $/bbl
Das Blend Grade Marginal Carbon Intensity Mthly gCO2e/MJ AGINM41 For written comments, please provide a clear
Escalante
Dubai Grade Marginal Carbon Intensity Mthly gCO2e/MJ AGINI41
Grade Marginal Murban Grade Marginal Carbon Intensity Mthly gCO2e/MJ AGINP41
indication if comments are not intended for publication
Carbon AMGLV40 July 1, 2024 226.68 226.16 Oman Grade Marginal Carbon Intensity Mthly gCO2e/MJ AGINJ41 by Platts for public viewing. Platts will consider all
Intensity Upper Zakum Grade Marginal Carbon Intensity Mthly gCO2e/MJ AGINL41
Brent Grade Marginal Carbon Intensity Mthly gCO2e/MJ BXREC41
comments received and will make comments not
KgCO2e/bbl
Escalante Ekofisk Grade Marginal Carbon Intensity Mthly gCO2e/MJ EXKOC41 marked as confidential available upon request.
Grade Marginal Forties Grade Marginal Carbon Intensity Mthly gCO2e/MJ FXORC41
Carbon AMGLC00 Aug 15, 2024 2.607 2.601 Oseberg Grade Marginal Carbon Intensity Mthly gCO2e/MJ OXSEC41
Intensity
Saharan Blend Grade Marginal Carbon Intensity Mthly gCO2e/MJ AGINO41 PTT International Trading London Ltd to join EMEA -
Troll Grade Marginal Carbon Intensity Mthly gCO2e/MJ TXROC41
Premium $/bbl Alaskan North Slope Grade Marginal Carbon Intensity Mthly WAF Crude - Physical MOC
AMGRH41
gCO2e/MJ PTT International Trading London Ltd has advised
Bakken Grade Marginal Carbon Intensity Mthly gCO2e/MJ AMGRJ41
A full list of crude CI values and premiums published Platts, part of S&P Global Commodity Insights, that it
Canadon Seco Grade Marginal Carbon Intensity Mthly gCO2e/MJ AMGLU41 .
by Platts can be found in the Carbon Intensity Castilla Blend Grade Marginal Carbon Intensity Mthly gCO2e/MJ AMGLH41 would like to participate in the Platts Market on Close
Cuban Heavy Grade Marginal Carbon Intensity Mthly gCO2e/MJ AMGMB41
Assessments Specifications Guide linked here. Eagle Ford Grade Marginal Carbon Intensity Mthly gCO2e/MJ AMGRI41
assessment process for EMEA - WAF Crude - Physical.
Please send all questions, comments and Escalante Grade Marginal Carbon Intensity Mthly gCO2e/MJ AMGLV41 Platts has reviewed PTT International Trading
Galeota Mix Grade Marginal Carbon Intensity Mthly gCO2e/MJ AMGMK41
feedback to [email protected] Istmo Grade Marginal Carbon Intensity Mthly gCO2e/MJ AMGMI41
London Ltd and will consider information from the
, [email protected] and Jubarte Grade Marginal Carbon Intensity Mthly gCO2e/MJ AMGLW41 entity in the assessment process for EMEA - WAF
Liza Grade Marginal Carbon Intensity Mthly gCO2e/MJ AMGME41
[email protected]. Maya Grade Marginal Carbon Intensity Mthly gCO2e/MJ AMGMJ41
Crude - Physical, subject at all times to adherence with
For written comments, please provide a clear Medanito Grade Marginal Carbon Intensity Mthly gCO2e/MJ AMGLT41 Platts editorial standards.
Merey 16 Grade Marginal Carbon Intensity Mthly gCO2e/MJ AMGML41
indication if comments are not intended for publication Mixed Sweet Blend Grade Marginal Carbon Intensity Mthly Platts will publish all relevant information from PTT
AMGRN41
by Platts for public viewing. gCO2e/MJ International Trading London Ltd accordingly.
Napo Grade Marginal Carbon Intensity Mthly gCO2e/MJ AMGMD41
Platts will consider all comments received and will Olmeca Grade Marginal Carbon Intensity Mthly gCO2e/MJ AMGMH41
Platts welcomes all relevant feedback regarding
make comments not marked as confidential available Oriente Grade Marginal Carbon Intensity Mthly gCO2e/MJ AMGMC41 MOC participation. Platts considers bids, offers
Payara Grade Marginal Carbon Intensity Mthly gCO2e/MJ AMGMF41
upon request. Roncador Heavy Grade Marginal Carbon Intensity Mthly gCO2e/
and transactions by all credible and credit-
AMGLX41
MJ worthy parties in its assessment processes. For
Platts begins publishing additional units for existing Rubiales Grade Marginal Carbon Intensity Mthly gCO2e/MJ AMGLZ41
comments and feedback, please contact Platts
Tupi Grade Marginal Carbon Intensity Mthly gCO2e/MJ AMGLI41
crude carbon intensity calculations Unity Gold Grade Marginal Carbon Intensity Mthly gCO2e/MJ AMGMG41 editors at [email protected] and
Platts, part of S&P Global Commodity Insights, Vasconia Grade Marginal Carbon Intensity Mthly gCO2e/MJ
WTI Midland Grade Marginal Carbon Intensity Mthly gCO2e/MJ
AMGLY41
WXTIC41
[email protected].
has begun publishing crude carbon intensity values West Texas Intermediate (Cushing) Grade Marginal Carbon
AMGRL41
in gCO2e/MJ (LHV basis) for its existing crude grades, Intensity Mthly gCO2e/MJ Platts Quality Premiums for January-loading North
West Texas Intermediate (MEH) Grade Marginal Carbon Intensity
effective Dec. 13, 2024. Mthly gCO2e/MJ
AMGRK41 Sea crude cargoes
This data is produced by the Commodity Insights Wyoming Sweet Grade Marginal Carbon Intensity Mthly gCO2e/
AMGRM41 Effective Dec. 2, the North Sea Quality Premiums for
MJ
analytics team. January-loading North Sea crude oil cargoes will be as
These crude carbon intensity values will now follows:

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Crude Oil Marketwire January 8, 2025

Crude Grade Quality Premium

Oseberg 0.8171 appear on Crude Oil Marketwire and Platts Oilgram the release of the full corresponding month-ahead
Ekofisk 0.3761 Price Report publications. They will also appear on loading program. In these markets Platts reflects bids
Troll 0.9006
Platts Global Alert pages PGA2238 and PGA2239 and where buyers are willing to receive previously loaded
Platts Crude Oil Alert pages PCR2238 and PCR2239. oil, meaning a cargo that has or will load before the
Quality Premiums are available on Platts Global They are scheduled to begin updating Dec. 2, 2024. dates being bid. Platts does not reflect offers of
Alert pages 1210 and 1212 and in the Platts Pricing Please follow the link below for further details: previously loaded oil. A seller may supply a previously
Database under the following codes: https://www.spglobal.com/commodityinsights/en/ loaded cargo provided it conforms to all other aspects
Grade Current Month Month Ahead our-methodology/subscriber-notes/110124-platts-to- of Platts methodology and the seller covers any
Oseberg AAXDW00 AAXDX00
Ekofisk AAXDY00 AAXDZ00
launch-delivered-asia-pacific-cold-lake-pacific-dilbit- additional costs incurred by the buyer as a result of
Troll ATFNB00 ATFNA00 crude-assessments-dec-2 supplying a previously loaded cargo. However, this
If you have any comments or questions about specifically excludes oil sourced via STS or any land-
The QPs are published to four decimal places and this announcement, please contact S&P Global based storage other than the original loading terminal.
at 60% of the net price differences between Ekofisk, Commodity Insights Client Services or email Platts understands CPC Blend does not have a unified
Oseberg, Troll and the most competitive grade of crude [email protected] loading program though load dates will be circulated
among Brent, Forties, Oseberg, Ekofisk, Troll and WTI through the market and compiled by participants from
Midland during the month prior to announcement. Platts clarifies pre-program and slippage day around the 11th of each month. For Azeri Light, Platts
Platts, part of S&P Global Commodity Insights, publication guidelines for CPC Blend and Azeri light has observed that the month-ahead loading program
announces QPs on the first publishing day of each MOC bids and offers from the Turkish port of Ceyhan is circulated around
.
month, a month prior to the escalators coming Platts, part of S&P Global Commodity Insights, the 8th of each month.
into effect. clarifies its guidelines for publishing bids for CPC Slippage days
Please send any comments and queries Blend and Azeri Light in the Mediterranean Market In the CPC Blend and Azeri Light CIF Augusta
to [email protected] and on Close assessment process over dates not covered markets Platts also reflects bids and offers that can
[email protected]. by the relevant loading program (pre-program). These be supplied with cargoes where all but one day of
instances typically occur when the 20-40 day forward the loading laycan fit fully into the indicated five-day
New Pacific Cold Lake, Pacific Dilbit crude assessment range for CPC Blend or 10-30 day forward loading range in the MOC. These days are known as
assessments symbols assessment period for Azeri Light, stretch beyond the slippage days. For example, a bid for CPC Blend loading
The Pacific Cold Lake, Pacific Dilbit crude published loading schedule dates. in the range November 10-14 may be performed with a
assessments symbols have been created in Market Platts publishes firm bids for CPC Blend and November 9-10 laycan with slippage. Equally, an offer
Data category RP (Oil PRS:Platts Crudes). They will Azeri Light cargoes on a CIF Augusta basis ahead of for Azeri Light loading in the range 10-14 November may

MDC Symbol Bates Dec Freq Curr UOM Description

RP PCASK00 c 3 DW USD BBL Pacific Cold Lake CFR South Korea $/bbl
RP PCASK03 c 3 MA USD BBL Pacific Cold Lake CFR South Korea $/bbl MAvg
RP PCBSK00 c 3 DW USD BBL Pacific Cold Lake CFR South Korea vs Dubai $/bbl
RP PCBSK03 c 3 MA USD BBL Pacific Cold Lake CFR South Korea vs Dubai $/bbl MAvg
RP PCCSK00 c 3 DW USD BBL Pacific Cold Lake CFR South Korea vs ADB $/bbl
RP PCCSK03 c 3 MA USD BBL Pacific Cold Lake CFR South Korea vs ADB $/bbl MAvg
RP PCDSK00 c 3 DW USD BBL Pacific Dilbit DES East China $/bbl
RP PCDSK03 c 3 MA USD BBL Pacific Dilbit DES East China $/bbl MAvg
RP PCESK00 c 3 DW USD BBL Pacific Dilbit DES East China vs Dubai $/bbl
RP PCESK03 c 3 MA USD BBL Pacific Dilbit DES East China vs Dubai $/bbl MAvg
RP PCFSK00 c 3 DW USD BBL Pacific Dilbit DES East China vs ADB $/bbl
RP PCFSK03 c 3 MA USD BBL Pacific Dilbit DES East China vs ADB $/bbl MAvg

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Crude Oil Marketwire January 8, 2025

be performed with a laycan of November 14-15 with Please send all feedback, comments or Platts will consider all comments received and will
slippage. Should a seller opt to offer or sell any cargo questions to [email protected] and make comments not marked as confidential available
not loading fully within the indicated five-day loading [email protected]. For written comments, upon request.
range, they must cover any additional costs incurred by please provide a clear indication if comments are not
the buyer resulting from the earlier or later loading. intended for publication by Platts for public viewing.

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Crude Oil Marketwire January 8, 2025

Commodity Insights Analytics US Yields & Netbacks Effective January 8, 2025 ($/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 82.89 AGGFA00 1.91 AGGCN00 80.97 AAQZB00 75.06 AGGCM00 5.22
Arab Berri BEGCY00 83.01 TDDAC00 1.32 BEGCN00 81.69 AAXCT00 79.67 BEGCM00 2.02
Arab Heavy AHGCY00 76.82 TDDAJ00 1.39 AHGCN00 75.44 AAXDI00 77.37 AHGCM00 -1.93 Arab Heavy AHGOY00 79.72 TDDAJ00 1.39 AHGON00 78.34 AAXDI00 77.37 AHGOM00 0.97
Arab Light LIGCY00 80.96 TDDAR00 1.35 LIGCN00 79.61 AAXCU00 77.42 LIGCM00 2.19 Arab Light LIGOY00 81.66 TDDAR00 1.35 LIGON00 80.31 AAXCU00 77.42 LIGOM00 2.89
Arab Medium MEGCY00 78.27 TDDAZ00 1.35 MEGCN00 76.91 AAXDN00 77.72 MEGCM00 -0.81 Arab Medium MEGOY00 79.04 TDDAZ00 1.35 MEGON00 77.69 AAXDN00 77.72 MEGOM00 -0.03
Bakken BKGCY00 83.02 TDDRP00 7.78 BKGCN00 75.24 AAXPP00 69.21 BKGCM00 6.03
Basrah Heavy BHGOY00 76.06 BHGFA00 1.95 BHGON00 74.12 AALZC00 74.25 BHGOM00 5.47
Basrah Medium BLGCY00 77.00 TDDBS00 1.87 BLGCN00 75.12 BSMAM01 77.30 BLGCM00 2.07 Basrah Medium BLGOY00 78.44 TDDBS00 1.87 BLGON00 76.57 BSMAM01 77.30 BLGOM00 3.52
Bonny Light YLGCY00 85.39 TDDBX00 2.08 YLGCN00 83.32 PCAIC00 76.61 YLGCM00 6.02
Brent BRGCY00 82.99 TDDCB00 2.09 BRGCN00 80.91 AAVJA00 77.55 BRGCM00 2.67
Cabinda CBGCY00 84.39 TDDCF00 2.23 CBGCN00 82.17 PCAFD00 76.46 CBGCM00 5.02 Cabinda CBGOY00 81.12 TDDCF00 2.23 CBGON00 78.90 PCAFD00 76.46 CBGOM00 1.75
Castilla Blend CSGOY00 75.45 CSGFA00 2.06 CSGON00 73.38 AAVEQ00 67.66 CSGOM00 5.72
Eagle Ford EAGCY00 83.79 AAYAT00 74.22 EAGCM00 9.57
Escalante ECGCY00 84.27 TDDCV00 3.24 ECGCN00 81.03 PCAGC00 73.91 ECGCM00 6.44
Forties FTGCY00 81.59 FTGFA00 1.87 FTGCN00 79.72 PCADJ00 77.36 FTGCM00 1.67
Isthmus ISGCY00 80.51 TDDDJ00 1.28 ISGCN00 79.23 PDATO09 71.21 ISGCM00 8.02
LLS LLGCY00 84.60 TDDQW00 0.55 LLGCN00 84.05 PCABN00 75.62 LLGCM00 8.43 LLS LLGOY00 84.71 TDDQW00 0.55
.
LLGON00 84.16 PCABN00 75.62 LLGOM00 8.54
Mars MRGCY00 78.82 TDDQY00 0.55 MRGCN00 78.27 AAMBR00 73.62 MRGCM00 4.65 Mars MRGOY00 80.82 TDDQY00 0.55 MRGON00 80.27 AAMBR00 73.62 MRGOM00 6.65
Maya MYGCY00 72.18 TDDDP00 1.33 MYGCN00 70.85 PDATS09 65.86 MYGCM00 4.99 Maya MYGOY00 76.50 TDDDP00 1.33 MYGON00 75.17 PDATS09 65.86 MYGOM00 9.31
Napo NPGOY00 74.30 NPGFA00 2.85 NPGON00 71.45 AAMCA00 62.59 NPGOM00 7.98
Olmeca OLGCY00 82.21 TDDDY00 1.29 OLGCN00 80.92 PDATT09 73.36 OLGCM00 7.56
Oriente ORGOY00 79.22 ORGFA00 2.71 ORGON00 76.51 PCADE00 66.89 ORGOM00 8.80
Poseidon PDGCY00 79.16 PDGFA00 0.00 PDGCN00 79.16 AABHK00 73.27 PDGCM00 5.89
Saharan Blend SHGCY00 82.88 TDDRD00 1.67 SHGCN00 81.21 AAGZY00 77.27 SHGCM00 3.25
Syncrude SYGCY00 84.90 SYGFA00 8.52 SYGCN00 76.38 AASOK00 70.56 SYGCM00 5.82
Urals URGCY00 79.68 TDDFM00 2.16 URGCN00 77.52 AAWVH00 65.46 URGCM00 11.38 Urals URGOY00 81.65 TDDFM00 2.16 URGON00 79.49 AAWVH00 65.46 URGOM00 13.34
Vasconia VCGOY00 82.42 VCGFA00 2.01 VCGON00 80.41 PCAGI00 70.81 VCGOM00 9.60
WCS ex-Hardisty WHGOY00 77.92 TDDRS00 8.50 WHGON00 69.42 AAPPN00 60.31 WHGOM00 9.11
WCS ex-Nederland WNGOY00 77.92 WCGFA00 0.00 WNGON00 77.92 AAYAY00 68.16 WNGOM00 9.76
WTI WTGCY00 83.96 AAYRG00 74.32 WTGCM00 9.64
WTS WSGCY00 80.80 TDDRJ00 6.89 WSGCN00 73.91 PCACK00 72.47 WSGCM00 1.44 WTS WSGOY00 82.51 TDDRJ00 6.89 WSGON00 75.62 PCACK00 72.47 WSGOM00 3.15

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Crude Oil Marketwire January 8, 2025

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

US Midwest (PGA page 0823) US Midwest (PGA page 0821)

Crack Yield Freight Crack Netback Crude Price Crack Margin Coke Yield Freight Coke Netback Crude Price Coke Margin
Bakken BKTCY00 76.33 TDDRO00 1.68 BKTCN00 74.65 AASRU00 70.96 BKTCM00 3.69
Syncrude SYTCY00 77.61 TDDFP00 8.20 SYTCN00 69.41 AASOK00 70.56 SYTCM00 -1.15
WCS WCTOY00 71.54 TDDRL00 8.56 WCTON00 62.98 AAPPN00 60.31 WCTOM00 2.67
WTI WTTCY00 76.94 TDDRG00 2.39 WTTCN00 74.54 PCACG00 73.32 WTTCM00 1.22
WTS WSTCY00 75.14 TDDRI00 3.08 WSTCN00 72.06 PCACK00 72.47 WSTCM00 -0.41 WTS WSTOY00 75.47 TDDRI00 3.08 WSTON00 72.39 PCACK00 72.47 WSTOM00 -0.08

US West Coast (PGA page 0843) US West Coast (PGA page 0841)

Crack Yield Freight Crack Netback Crude Price Crack Margin Coke Yield Freight Coke Netback Crude Price Coke Margin
ANS ANWCY00 84.57 PCAAD00 75.96 ANWCM00 8.61 ANS ANWOY00 84.60 PCAAD00 75.96 ANWOM00 8.64
Arab Light LIWOY00 85.69 TDDAT00 1.35 LIWON00 84.34 AAXCU00 77.42 LIWOM00 6.92
Arab Medium MEWOY00 82.99 TDDBB00 1.35 MEWON00 81.64 AAXDN00 77.72 MEWOM00 3.92
Bakken BKWCY00 86.81 TDDRT00 11.74 BKWCN00 75.07 AAXPP00 69.21 BKWCM00 5.86
Basrah Heavy BHWOY00 81.86 BHWFA00 2.01 BHWON00 79.85 AALZC00 74.25 BHWOM00 11.88
Basrah Medium BLWOY00 82.75 TDDBW00 1.93 BLWON00 80.82 BSMAM01 77.30 BLWOM00 8.45
Castilla Blend CSWOY00 81.34 CSWFA00 3.88 CSWON00 77.46 AAVEQ00 67.66 CSWOM00 8.92
Maya MYWOY00 81.16 MYWFA00 2.24
.
MYWON00 78.91 AAUPK00 67.46 MYWOM00 11.45
Napo NPWOY00 80.40 NPWFA00 3.38 NPWON00 77.02 AAMCA00 62.59 NPWOM00 13.55
Oriente ORWOY00 82.97 TDDEC00 3.20 ORWON00 79.77 PCADE00 66.89 ORWOM00 12.05
Vasconia VCWOY00 89.19 VCWFA00 3.75 VCWON00 85.44 PCAGI00 70.81 VCWOM00 13.78

US Atlantic Coast (PGA page 0811)

Crack Yield Freight Crack Netback Crude Price Crack Margin

Agbami AGACY00 80.13 AGAFA00 1.71 AGACN00 78.43 AAQZB00 75.06 AGACM00 2.68
Arab Light LIACY00 79.31 TDDAU00 1.35 LIACN00 77.96 AAXCU00 77.42 LIACM00 0.54
Bakken BKACY00 82.12 TDDRN00 7.20 BKACN00 74.92 AAXPP00 69.21 BKACM00 5.71
Bonny Light YLACY00 82.47 TDDBZ00 1.85 YLACN00 80.62 PCAIC00 76.61 YLACM00 3.32
Brent BRACY00 80.60 TDDCC00 2.17 BRACN00 78.43 AAVJA00 77.55 BRACM00 0.87
Cabinda CBACY00 83.46 TDDCH00 2.00 CBACN00 81.46 PCAFD00 76.46 CBACM00 4.31
CPC Blend CPACY00 81.86 CPAFA00 2.38 CPACN00 79.49 AALVX00 71.81 CPACM00 7.67
Forties FTACY00 81.64 FTAFA00 1.95 FTACN00 79.69 PCADJ00 77.36 FTACM00 2.32
Saharan Blend SHACY00 83.63 SHAFA00 1.40 SHACN00 82.23 AAGZY00 77.27 SHACM00 4.28
Urals URACY00 79.24 URAFA00 1.71 URACN00 77.53 AAWVH00 65.46 URACM00 11.38

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Crude Oil Marketwire January 8, 2025

Commodity Insights Analytics European Yields & Netbacks Effective January 8, 2025 ($/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 83.54 AGNFA00 1.67 AGNCN00 81.87 AAQZB00 75.06 AGNCM00 6.81 Agbami AGMCY00 83.18 AGMFA00 1.59 AGMCN00 81.59 AAQZB00 75.06 AGMCM00 6.53
Arab Berri BENCY00 83.39 BENFA00 1.32 BENCN00 82.07 AAXDU00 76.51 BENCM00 5.56
Arab Heavy AHNCY00 76.89 TDDAN00 1.39 AHNCN00 75.50 AAXDH00 71.71 AHNCM00 3.79 Arab Heavy AHMCY00 77.08 TDDAI00 1.39 AHMCN00 75.69 AAXDH00 71.71 AHMCM00 3.93
Arab Light LINCY00 81.99 TDDAV00 1.35 LINCN00 80.64 AAXDK00 74.91 LINCM00 5.73 Arab Light LIMCY00 81.58 TDDAQ00 1.35 LIMCN00 80.23 AAXDK00 74.91 LIMCM00 5.17
Arab Medium MENCY00 78.40 TDDBD00 1.36 MENCN00 77.04 AAXDM00 74.11 MENCM00 2.93 Arab Medium MEMCY00 78.19 TDDAY00 1.37 MEMCN00 76.83 AAXDM00 74.11 MEMCM00 2.37
Azeri Light ZLNCY00 85.25 TDDBI00 1.86 ZLNCN00 83.39 AATHM00 75.31 ZLNCM00 5.76 Azeri Light* ZLMCY00 84.58 AAGZX00 78.72 ZLMCM00 5.86
Basrah Medium BLNCY00 77.03 TDDBU00 2.93 BLNCN00 74.10 BSMAM01 77.30 BLNCM00 1.44 Basrah Medium BLMCY00 77.31 TDDBR00 2.16 BLMCN00 75.15 BSMAM01 77.30 BLMCM00 2.49
Bonny Light YLNCY00 85.89 YLNFA00 1.82 YLNCN00 84.07 PCAIC00 76.61 YLNCM00 7.46 Bonny Light YLMCY00 85.20 YLMFA00 1.73 YLMCN00 83.48 PCAIC00 76.61 YLMCM00 6.87
Brent BRNCY00 83.45 TDDCD00 2.20 BRNCN00 81.26 AAVJA00 77.55 BRNCM00 3.71
Cabinda CBNCY00 83.38 TDDQR00 1.97 CBNCN00 81.41 PCAFD00 76.46 CBNCM00 4.95 Cabinda CBMCY00 82.76 CBMFA00 1.88 CBMCN00 80.88 PCAFD00 76.46 CBMCM00 4.42
CPC Blend CPNCY00 83.52 CPNFA00 2.57 CPNCN00 80.95 AALVX00 71.81 CPNCM00 9.14 CPC Blend* CPMCY00 82.58 AAGZU00 74.45 CPMCM00 8.13
Dubai DBNCY00 80.96 DBNFA00 2.75 DBNCN00 78.22 PCAAT00 77.66 DBNCM00 1.05
Eagle Ford EANCY00 84.19 EANFA00 3.70 EANCN00 80.49 AAYAT00 74.22 EANCM00 6.28 Eagle Ford EAMCY00 83.62 TNEIF00 3.82 EAMCN00 79.80 AAYAT00 74.22 EAMCM00 5.59
Ekofisk EKNCY00 84.02 TDDCT00 1.37 EKNCN00 82.64 PCADI00 78.07 EKNCM00 4.58
Forties FTNCY00 83.06 TDDEZ00 1.62 FTNCN00 81.44 PCADJ00 77.36 FTNCM00 4.08 Forties FTMCY00 82.44 FTMFA00 2.30 FTMCN00 80.14 PCADJ00 77.36 FTMCM00 2.78
Iran Heavy BHNCY00 80.76 TDDDG00 2.88 BHNCN00 77.88 AIHKA00 71.26 BHNCM00 5.70 Iran Heavy BHMCY00 80.47 TDDDF00 2.10 BHMCN00 78.37 AIHKA00 71.26 BHMCM00 6.18
Johan Sverdrup JSNCY00 82.09 JSNFA00 1.71 JSNCN00 80.38 AJSVA00 75.49 JSNCM00 4.89 Johan Sverdrup JSMCY00 81.59 JSMFA00 2.45 JSMCN00 79.15 AJSVA00 75.49 JSMCM00 3.66
Kirkuk KRNCY00 80.85 TDDGH00 2.53 KRNCN00 78.32 AAEJD00 75.91 KRNCM00 2.39 Kirkuk KRMCY00 80.52 TDDFF00 1.45 KRMCN00 79.06 AAEJD00 75.91 KRMCM00 3.13
LLS LLNCY00 85.89 LLNFA00 3.90 LLNCN00 81.98 AAQBB00 75.71 LLNCM00 6.37 LLS LLMCY00 85.17 LLMFA00 4.02 .
LLMCN00 81.14 AAQBB00 75.71 LLMCM00 5.53
Maya MYNCY00 72.78 MYNFA00 3.92 MYNCN00 68.86 AAYXE00 67.01 MYNCM00 1.85
Oman OMNCY00 81.59 OMNFA00 2.70 OMNCN00 78.89 PCABS00 77.71 OMNCM00 1.69 Oman OMMCY00 81.21 OMMFA00 1.93 OMMCN00 79.28 PCABS00 77.71 OMMCM00 2.08
Saharan Blend SHNCY00 83.94 TDDGI00 1.66 SHNCN00 82.27 AAGZY00 77.27 SHNCM00 5.01 Saharan Blend SHMCY00 83.05 TDDFG00 1.25 SHMCN00 81.80 AAGZY00 77.27 SHMCM00 4.54
Urals* URNCY00 82.08 PCAFW00 68.07 URNCM00 14.01 Urals* URMCY00 81.36 PCACE00 68.94 URMCM00 12.42
WTI MEH WTNCY00 83.74 WTNFA00 3.76 WTNCN00 79.98 AAYRZ00 74.41 WTNCM00 5.67
*Indicates the crude price is a CIF value

Commodity Insights Analytics Asian yields & netbacks effective January 8, 2025 ($/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 83.33 AGSFA00 1.88 AGSCN00 81.45 AAQZB00 75.06 AGSCM00 4.96 Forties FTSCY00 82.16 TNEFD00 2.30 FTSCN00 79.87 PCADJ00 77.36 FTSCM00 1.08
Arab Berri BESCY00 82.92 BESFA00 1.09 BESCN00 81.84 AAXDV00 78.59 BESCM00 3.25 Kimanis KISCY00 89.41 KISFA00 1.02 KISCN00 88.39 AASCL00 83.54 KISCM00 4.85
Arab Heavy AHSCY00 76.92 TDDAO00 1.12 AHSCN00 75.80 AAXDG00 76.79 AHSCM00 -0.98 LLS LLSCY00 85.20 LLSFA00 2.89 LLSCN00 82.31 AAZDC00 77.19 LLSCM00 5.27
Arab Light LISCY00 81.62 TDDAW00 1.10 LISCN00 80.52 AAXDJ00 78.59 LISCM00 1.94 Mars MRSCY00 80.00 MRSFA00 2.99 MRSCN00 77.01 AAMBR00 73.62 MRSCM00 1.97
Arab Medium MESCY00 78.25 TDDBE00 1.11 MESCN00 77.13 AAXDL00 77.94 MESCM00 -0.80 Maya MYSCY00 75.36 MYSFA00 3.13 MYSCN00 72.23 AAYXG00 69.14 MYSCM00 3.09
Basrah Medium BHSCY00 77.70 BHSFA00 1.18 BHSCN00 76.52 BSMAM01 77.30 BHSCM00 -0.56 Minas MNSCY00 84.97 TDDDX00 1.03 MNSCN00 83.94 PCABO00 75.67 MNSCM00 8.27
Bonny Light YLSCY00 85.22 YLSFA00 2.02 YLSCN00 83.20 PCAIC00 76.61 YLSCM00 5.16 Oman OMSCY00 79.55 TDDEB00 1.01 OMSCN00 78.54 PCABS00 77.71 OMSCM00 0.83
Cabinda CBSCY00 83.81 TDDQS00 1.95 CBSCN00 81.86 PCAFD00 76.46 CBSCM00 3.97 Qua lboe QBSCY00 85.55 QBSFA00 2.02 QBSCN00 83.53 PCAID00 77.16 QBSCM00 4.94
Castilla CSSCY00 73.64 CSSFA00 3.18 CSSCN00 70.46 AAVEQ00 67.66 CSSCM00 1.38 Saharan Blend SHSCY00 82.37 SHSFA00 1.97 SHSCN00 80.41 AAGZY00 77.27 SHSCM00 0.86
Dalia DLSCY00 84.55 DLSFA00 2.02 DLSCN00 82.53 AAQYX00 75.81 DLSCM00 5.29 Tapis TPSCY00 83.96 TDDEO00 1.00 TPSCN00 82.96 PCACB00 79.64 TPSCM00 3.32
Dubai DBSCY00 80.86 TDDCQ00 1.05 DBSCN00 79.81 PCAAT00 77.66 DBSCM00 2.15 Tupi* LUSCY00 83.72 LUQDA00 79.63 LUSCM00 3.20
Duri DRSCY00 83.36 TDDCR00 1.11 DRSCN00 82.24 PCABA00 79.44 DRSCM00 2.80 Urals URSCY00 81.37 URSFA00 2.06 URSCN00 79.31 AAGZS00 64.66 URSCM00 13.23
Eagle Ford EASCY00 83.33 EASFA00 2.78 EASCN00 80.56 AAYAT00 74.22 EASCM00 4.92 WTI MEH WTSCY00 83.23 WTSFA00 2.82 WTSCN00 80.41 AAZDF00 75.94 WTSCM00 4.67
ESPO ESSCY00 83.27 ESSFA00 1.02 ESSCN00 82.25 AARWF00 74.30 ESSCM00 7.95
*Indicates the crude price is a CIF value

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Crude Carbon Intensity
A daily supplement to Crude Oil Marketwire

Platts crude carbon intensity assessments - grades, January 8, 2025 (PGA/PCR page 4206)
Daily Carbon Intensity Premium Monthly Carbon Intensity* Monthly Carbon Intensity*
Symbol $/b Symbol Date kg CO2 eq/b Symbol Date g CO2 e/MJ
Africa (PGA/PCR page 4206)
Saharan Blend AGING00 0.36 AGINO40 Nov-24 24.51 AGINO41 Nov-24 4.62

North America (PGA/PCR page 4206)

Alaskan North Slope AMGRA00 0.13 AMGRH40 Nov-24 8.84 AMGRH41 Nov-24 4.97
Bakken AMGRC00 0.36 AMGRJ40 Nov-24 24.63 AMGRJ41 Nov-24 4.47
Eagle Ford AMGRB00 0.25 AMGRI40 Nov-24 17.18 AMGRI41 Nov-24 3.19
Mixed Sweet Blend AMGRG00 0.39 AMGRN40 Nov-24 26.71 AMGRN41 Nov-24 4.80
West Texas Intermediate AMGRE00 0.47 AMGRL40 Nov-24 32.35 AMGRL41 Nov-24 5.87
(Cushing)
West Texas Intermediate (MEH) AMGRD00 0.65 AMGRK40 Nov-24 44.53 AMGRK41 Nov-24 7.79
Wyoming Sweet AMGRF00 0.44 AMGRM40 Nov-24 30.30 AMGRM41 Nov-24 5.40 .
WTI Midland WXTIC00 0.30 WXTIC40 Nov-24 20.70 WXTIC41 Nov-24 3.76

Europe (PGA/PCR page 4206)

Brent BXREC00 0.69 BXREC40 Nov-24 47.51 BXREC41 Nov-24 8.40
Ekofisk EXKOC00 0.27 EXKOC40 Nov-24 18.88 EXKOC41 Nov-24 3.37
Forties FXORC00 0.27 FXORC40 Nov-24 18.87 FXORC41 Nov-24 3.31
Oseberg OXSEC00 0.37 OXSEC40 Nov-24 25.53 OXSEC41 Nov-24 4.57
Troll TXROC00 0.32 TXROC40 Nov-24 22.12 TXROC41 Nov-24 3.90

Middle East (PGA/PCR page 4206)

Al-Shaheen AGINC00 0.43 AGINK40 Nov-24 29.30 AGINK41 Nov-24 1.52
Arab Light AGINF00 0.27 AGINN40 Nov-24 18.34 AGINN41 Nov-24 3.21
Das Blend AGINE00 0.29 AGINM40 Nov-24 19.83 AGINM41 Nov-24 3.47
Dubai AGINA00 0.25 AGINI40 Nov-24 16.88 AGINI41 Nov-24 2.92
Murban AGINH00 0.30 AGINP40 Nov-24 20.32 AGINP41 Nov-24 3.66
Oman AGINB00 0.27 AGINJ40 Nov-24 18.72 AGINJ41 Nov-24 3.20
UpperZakum AGIND00 0.17 AGINL40 Nov-24 11.60 AGINL41 Nov-24 2.03

Latin America (PGA/PCR page 4206)

Canadon Seco AMGLB00 0.33 AMGLU40 Nov-24 22.46 AMGLU41 Nov-24 3.88
Castilla Blend AMGLH00 0.82 AMGLH40 Nov-24 56.67 AMGLH41 Nov-24 9.04
Cuban Heavy AMGLI00 0.51 AMGMB40 Nov-24 35.16 AMGMB41 Nov-24 5.51
Escalante AMGLC00 3.24 AMGLV40 Nov-24 223.11 AMGLV41 Nov-24 36.77
Galeota Mix AMGLR00 0.14 AMGMK40 Nov-24 9.43 AMGMK41 Nov-24 1.62
Istmo AMGLP00 0.21 AMGMI40 Nov-24 14.28 AMGMI41 Nov-24 2.45
Jubarte AMGLD00 1.20 AMGLW40 Nov-24 82.52 AMGLW41 Nov-24 13.35
Liza AMGLL00 0.24 AMGME40 Nov-24 16.79 AMGME41 Nov-24 2.91
Maya AMGLQ00 2.35 AMGMJ40 Nov-24 161.99 AMGMJ41 Nov-24 26.83
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Crude Oil Marketwire January 8, 2025

Platts crude carbon intensity assessments - grades (continued) (PGA/PCR page 4206)
Daily Carbon Intensity Premium Monthly Carbon Intensity* Monthly Carbon Intensity*
Symbol $/b Symbol Date kg CO2 eq/b Symbol Date G CO2 e/MJ
Medanito AMGLA00 0.30 AMGLT40 Nov-24 20.50 AMGLT41 Nov-24 3.57
Merey 16 AMGLS00 7.13 AMGML40 Nov-24 491.36 AMGML41 Nov-24 76.87
Napo AMGLK00 0.66 AMGMD40 Nov-24 45.26 AMGMD41 Nov-24 7.55
Olmeca AMGLO00 0.34 AMGMH40 Nov-24 23.47 AMGMH41 Nov-24 4.22
Oriente AMGLJ00 0.39 AMGMC40 Nov-24 26.74 AMGMC41 Nov-24 4.62
Payara AMGLM00 0.25 AMGMF40 Nov-24 17.13 AMGMF41 Nov-24 2.90
Roncador Heavy AMGLE00 0.51 AMGLX40 Nov-24 35.25 AMGLX41 Nov-24 5.76
Rubiales AMGLG00 0.69 AMGLZ40 Nov-24 47.65 AMGLZ41 Nov-24 7.53
Tupi AMGRY00 0.25 AMGLI40 Nov-24 17.36 AMGLI41 Nov-24 2.95
Unity Gold AMGLN00 0.23 AMGMG40 Nov-24 15.80 AMGMG41 Nov-24 2.78
Vasconia AMGLF00 0.36 AMGLY40 Nov-24 24.63 AMGLY41 Nov-24 4.49
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, January 8, 2025 (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 Nov-24 34.62 Bohai Pengbo-Singapore BOZHC10 0.06 BOZHC50 Nov-24 4.24
India
Bombay High MUMBC00 0.41 MUMBC40 Nov-24 27.92 Bombay High-Qingdao MUMBC10 0.10 MUMBC50 Nov-24 6.80
Iran
Marun MARUC00 0.52 MARUC40 Nov-24 36.11 Kharg Island-Qingdao MARUC10 0.13 MARUC50 Nov-24 8.96
Iraq
Kirkuk KIRKC00 1.00 KIRKC40 Nov-24 68.65 Ceyhan-R’dam KIRKC10 0.07 KIRKC50 Nov-24 4.55
Rumaila RUMAC00 0.32 RUMAC40 Nov-24 21.92 Al Basrah-Sikka RUMAC10 0.03 RUMAC50 Nov-24 2.09
West Qurna-2 WESTC00 1.16 WESTC40 Nov-24 79.88 Al Basrah-Sikka WESTC10 0.03 WESTC50 Nov-24 2.22
Zubair ZUBAC00 0.71 ZUBAC40 Nov-24 48.90 Al Basrah-Sikka ZUBAC10 0.03 ZUBAC50 Nov-24 2.09
Kuwait
Burgan BURGC00 0.25 BURGC40 Nov-24 17.04 Mina-Ulsan BURGC10 0.14 BURGC50 Nov-24 9.31
Oman
Oman Basin AMRGF00 0.27 AMRGS40 Nov-24 18.64 Salalah-Tranmere ASITF10 0.13 ASITS50 Nov-24 8.59
Qatar
Al-Shaheen AMRGE00 0.13 AMRGR40 Nov-24 8.84 Al-Shaheen-Singapore ASITE10 0.08 ASITR50 Nov-24 5.63
Dukhan DUKHC00 1.78 DUKHC40 Nov-24 123.03 Mesaieed-Singapore DUKHC10 0.07 DUKHC50 Nov-24 5.03
Saudi Arabia
Abu Hadriya AMRGI00 0.27 AMRGV40 Nov-24 18.83 Ras Tanura-Ain Sukhna ASITI10 0.02 ASITV50 Nov-24 1.27
Ghawar GHWRC00 0.27 GHWRC40 Nov-24 18.76 Ras Tanura-Qingdao GHWRC10 0.12 GHWRC50 Nov-24 8.33
Khurais AMRGH00 0.27 AMRGU40 Nov-24 18.40 Ras Tanura-Ain Sukhna ASITH10 0.02 ASITU50 Nov-24 1.20
Safaniya SAFAC00 0.22 SAFAC40 Nov-24 15.32 Ras Tanura-Changxing SAFAC10 0.14 SAFAC50 Nov-24 9.53
Zuluf ZULUC00 0.33 ZULUC40 Nov-24 22.62 Ras Tanura-Changxing ZULUC10 0.13 ZULUC50 Nov-24 9.24

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Crude Oil Marketwire January 8, 2025

Platts crude carbon intensity assessments - fields (continued) (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
UAE
Abu Al Bukhoosh AMRGM00 0.37 AMRGZ40 Nov-24 25.65 Zirku-Sikka ASITM10 0.02 ASITZ50 Nov-24 1.65
El Bunduq AMRGL00 0.54 AMRGY40 Nov-24 37.27 Zirku-Sikka ASITL10 0.02 ASITY50 Nov-24 1.57
Falah AMRGA00 0.16 AMRGN40 Nov-24 11.16 Falah-Kiire ASITA10 0.15 ASITN50 Nov-24 10.36
Fateh FATEC00 0.25 FATEC40 Nov-24 17.06 Fateh-Kiire FATEC10 0.12 FATEC50 Nov-24 8.56
Lower Zakum AMRGD00 0.17 AMRGQ40 Nov-24 11.81 Zirku-Sikka ASITD10 0.03 ASITQ50 Nov-24 1.70
Murban MURBC00 0.31 MURBC40 Nov-24 21.28 Fujairah-Chiba MURBC10 0.12 MURBC50 Nov-24 8.55
Nasr AMRGK00 0.29 AMRGX40 Nov-24 19.72 Zirku-Sikka ASITK10 0.02 ASITX50 Nov-24 1.62
Rashid AMRGB00 0.39 AMRGO40 Nov-24 26.97 Mina-Kiire ASITB10 0.15 ASITO50 Nov-24 10.17
Umm Shaif AMRGJ00 0.34 AMRGW40 Nov-24 23.10 Zirku-Sikka ASITJ10 0.02 ASITW50 Nov-24 1.60
Upper Zakum AMRGC00 0.17 AMRGP40 Nov-24 11.82 Zirku-Zhoushan ASITC10 0.13 ASITP50 Nov-24 9.05

Africa Fields (PGA/PCR page 4202)

Algeria
Hassi Messaoud AMRGG00 0.39 AMRGT40 Nov-24 26.87 Skikda-Tranmere ASITG10 0.03 ASITT50 Nov-24 2.07
Angola
Girassol GRSLC00 0.17 GRSLC40 Nov-24 11.95 Girassol-Qingdao GRSLC10 0.19 GRSLC50 Nov-24 13.18
Libya
Waha WAHAC00 0.56 WAHAC40 Nov-24 38.37 Zawia-Augusta WAHAC10 0.01 . WAHAC50 Nov-24 0.44
Nigeria
Agbami AGBAC00 0.41 AGBAC40 Nov-24 28.09 Agbami-Paradip AGBAC10 0.15 AGBAC50 Nov-24 10.25
Bonga BONGC00 0.18 BONGC40 Nov-24 12.33 Bonga-R’dam BONGC10 0.09 BONGC50 Nov-24 6.26

Europe Fields (PGA/PCR page 4202)

Azerbaijan
Azeri AZERC00 0.31 AZERC40 Nov-24 21.24 Ceyhan-Sarroch AZERC10 0.03 AZERC50 Nov-24 1.93
Kazakhstan
Tengiz TNGZC00 0.35 TNGZC40 Nov-24 23.82 Novo-R’dam TNGZC10 0.07 TNGZC50 Nov-24 4.62
Norway
Alvheim ALVHC00 0.22 ALVHC40 Nov-24 14.99 Alvheim-Le Havre ALVHC10 0.01 ALVHC50 Nov-24 0.85
Brage BRAGC00 1.08 BRAGC40 Nov-24 74.25 Sture - Brofjorden BRAGC10 0.01 BRAGC50 Nov-24 0.48
Edvard-Grieg EDVAC00 0.08 EDVAC40 Nov-24 5.45 Edvard Grieg-Sarroch EDVAC10 0.04 EDVAC50 Nov-24 2.97
Ekofisk EKFSC00 0.41 EKFSC40 Nov-24 28.37 Teesside-R’dam EKFSC10 0.01 EKFSC50 Nov-24 0.36
Embla EMBLC00 0.08 EMBLC40 Nov-24 5.51 Teesside-R’dam EMBLC10 0.01 EMBLC50 Nov-24 0.36
Fram FRAMC00 0.45 FRAMC40 Nov-24 30.70 Mongstad-R’dam FORTD10 0.01 FORTD50 Nov-24 0.84
Goliat GOLIC00 0.09 GOLIC40 Nov-24 6.25 Goliat-R’dam GOLIC10 0.03 GOLIC50 Nov-24 1.73
Grane GRANC00 0.13 GRANC40 Nov-24 8.76 Sture-Immingham GRANC10 0.01 GRANC50 Nov-24 0.63
Gullfaks GULLC00 0.22 GULLC40 Nov-24 15.38 Gullfaks-Brofjorden GULLC10 0.01 GULLC50 Nov-24 0.46
Heidrun HEIDC00 0.17 HEIDC40 Nov-24 11.75 Heidrun-R’dam HEIDC10 0.02 HEIDC50 Nov-24 1.22
Ivar-Aasen IVARC00 0.13 IVARC40 Nov-24 8.88 Ivar Aasen-R’dam IVARC10 0.01 IVARC50 Nov-24 0.80
Johan Sverdrup JSVRC00 0.10 JSVRC40 Nov-24 6.68 Mongstad-R’dam JSVRC10 0.01 JSVRC50 Nov-24 0.79
Oseberg OSEBC00 0.33 OSEBC40 Nov-24 22.83 Sture-R’dam OSEBC10 0.01 OSEBC50 Nov-24 0.69
Snorre SNORC00 0.21 SNORC40 Nov-24 14.62 Snorre-Statfjord SNORC10 0.00 SNORC50 Nov-24 0.14
Statfjord STATC00 2.67 STATC40 Nov-24 184.04 Statfjord-R’dam STATC10 0.01 STATC50 Nov-24 0.75
Troll TROLC00 0.29 TROLC40 Nov-24 19.87 Mongstad-R’dam TROLC10 0.01 TROLC50 Nov-24 0.79
Ula ULACC00 0.58 ULACC40 Nov-24 39.96 Teesside-R’dam ULACC10 0.01 ULACC50 Nov-24 0.37
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Crude Oil Marketwire January 8, 2025

Platts crude carbon intensity assessments - fields (continued) (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
Valhall VALHC00 0.17 VALHC40 Nov-24 11.70 Valhall-R’dam VALHC10 0.01 VALHC50 Nov-24 0.35
United Kingdom
Alwyn North ALWYC00 0.07 ALWYC40 Nov-24 4.72 Sullom Voe-R’dam ALWYC10 0.01 ALWYC50 Nov-24 0.81
Arbroath ARBRC00 0.14 ARBRC40 Nov-24 9.37 Houndpoint-R’dam ARBRC10 0.01 ARBRC50 Nov-24 0.55
Auk AUKCD00 0.52 AUKCC40 Nov-24 36.11 Teesside-R’dam AUKCC10 0.01 AUKCC50 Nov-24 0.37
Brae BRAEC00 0.19 BRAEC40 Nov-24 12.91 Houndpoint-R’dam BRAEC10 0.01 BRAEC50 Nov-24 0.56
Bruce BRUCC00 0.87 BRUCC40 Nov-24 60.11 Houndpoint-R’dam BRUCC10 0.01 BRUCC50 Nov-24 0.56
Buzzard BZRDC00 0.32 BZRDC40 Nov-24 21.79 Houndpoint-R’dam BZRDC10 0.01 BZRDC50 Nov-24 0.53
Captain CAPTC00 0.44 CAPTC40 Nov-24 30.12 Captain-Hamburg CAPTC10 0.01 CAPTC50 Nov-24 0.72
Catcher CATCC00 0.24 CATCC40 Nov-24 16.69 Catcher-R’dam CATCC10 0.01 CATCC50 Nov-24 0.48
Clair CLAIC00 0.15 CLAIC40 Nov-24 10.43 Clair-Stanlow CLAIC10 0.01 CLAIC50 Nov-24 0.91
Clyde CLYDC00 1.14 CLYDC40 Nov-24 78.75 Teesside-R’dam CLYDC10 0.01 CLYDC50 Nov-24 0.37
Cormorant CORMC00 0.82 CORMC40 Nov-24 56.83 Sullom Voe-R’dam CORMC10 0.01 CORMC50 Nov-24 0.82
Everest EVERC00 0.22 EVERC40 Nov-24 15.03 Houndpoint-R’dam EVERC10 0.01 EVERC50 Nov-24 0.55
Forties FORTC00 0.20 FORTC40 Nov-24 14.09 Houndpoint-R’dam FORTC10 0.01 FORTC50 Nov-24 0.56
Gannet GANNC00 0.30 GANNC40 Nov-24 20.96 Teesside-R’dam GANNC10 0.01 GANNC50 Nov-24 0.38
Golden-Eagle GOLDC00 0.36 GOLDC40 Nov-24 24.89 Golden Eagle-Grangemouth GOLDC10 0.00 GOLDC50 Nov-24 0.14
Joanne JOANC00 0.10 JOANC40 Nov-24 6.64 Teesside-R’dam JOANC10 0.01 JOANC50 Nov-24 0.37
Judy JUDYC00 0.54 JUDYC40 Nov-24 37.55 Teesside-R’dam JUDYC10 0.01 . JUDYC50 Nov-24 0.38
Kraken KRAKC00 0.31 KRAKC40 Nov-24 21.61 Kraken-R’dam KRAKC10 0.01 KRAKC50 Nov-24 0.80
Magnus MAGNC00 0.14 MAGNC40 Nov-24 9.32 Sullom Voe-R’dam MAGNC10 0.01 MAGNC50 Nov-24 0.81
Mariner MARIC00 0.20 MARIC40 Nov-24 14.07 Mariner-Pascagoula MARIC10 0.10 MARIC50 Nov-24 6.85
Nelson NELSC00 0.18 NELSC40 Nov-24 12.13 Houndpoint-R’dam NELSC10 0.01 NELSC50 Nov-24 0.55
Ninian NINIC00 1.94 NINIC40 Nov-24 133.52 Sullom Voe-R’dam NINIC10 0.01 NINIC50 Nov-24 0.83
Schiehallion SCHIC00 0.24 SCHIC40 Nov-24 16.32 Schiellhallion-R’dam SCHIC10 0.01 SCHIC50 Nov-24 0.85
Scott SCOTC00 0.14 SCOTC40 Nov-24 9.94 Houndpoint-R’dam SCOTC10 0.01 SCOTC50 Nov-24 0.55
Tiffany TIFFC00 0.36 TIFFC40 Nov-24 25.13 Houndpoint-R’dam TIFFC10 0.01 TIFFC50 Nov-24 0.55
Toni TONIC00 0.32 TONIC40 Nov-24 21.77 Houndpoint-R’dam TONIC10 0.01 TONIC50 Nov-24 0.55
Russia
Samotlor SAMOC00 0.41 SAMOC40 Nov-24 28.50 Primorsk-R’dam SAMOC10 0.03 SAMOC50 Nov-24 1.97

North America Fields

Canada (PGA/PCR page 4204)
Bakken-Canada BAKKC00 0.58 BAKKC40 Nov-24 39.87 Canada-USMW BAKKC10 0.06 BAKKC50 Nov-24 3.91
Cold Lake CDLKC00 1.07 CDLKC40 Nov-24 73.55 W Canada-USMW CDLKC10 0.07 CDLKC50 Nov-24 4.86
CVE Christina Lake CVECC00 0.62 CVECC40 Nov-24 42.93 Canada-USMW CVECC10 0.07 CVECC50 Nov-24 4.86
Foster Creek FOSTC00 0.84 FOSTC40 Nov-24 57.95 Canada-USGC FOSTC10 0.08 FOSTC50 Nov-24 5.69
Hebron HEBRC00 0.15 HEBRC40 Nov-24 10.18 Hebron-Canada HEBRC10 0.13 HEBRC50 Nov-24 8.89
Hibernia HIBEC00 0.38 HIBEC40 Nov-24 26.36 Hibernia-Canada HIBEC10 0.14 HIBEC50 Nov-24 9.82
Jackfish JACKC00 0.92 JACKC40 Nov-24 63.25 Canada-USMW JACKC10 0.06 JACKC50 Nov-24 4.37
MEG Christina Lake MEGCC00 0.85 MEGCC40 Nov-24 58.40 Canada-USGC MEGCC10 0.09 MEGCC50 Nov-24 5.99
Montney Shale MONTC00 0.43 MONTC40 Nov-24 29.73 Montney-Canada MONTC10 0.01 MONTC50 Nov-24 0.81
Surmont SURMC00 0.87 SURMC40 Nov-24 59.74 Canada-USGC SURMC10 0.08 SURMC50 Nov-24 5.54
United States (PGA/PCR page 4205)
Bakken BAKNC00 0.38 BAKNC40 Nov-24 26.01 Beaumont-R’dam BAKNC10 0.09 BAKNC50 Nov-24 6.46
Denver-Julesburg DENVC00 0.44 DENVC40 Nov-24 30.31 Denver-USGC DENVC10 0.04 DENVC50 Nov-24 2.47

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Crude Oil Marketwire January 8, 2025

Platts crude carbon intensity assessments - fields (continued) (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
Eagle Ford EGFDC00 0.27 EGFDC40 Nov-24 18.55 Houston-Qingdao EGFDC10 0.19 EGFDC50 Nov-24 12.85
Mars-Ursa MRURC00 0.20 MRURC40 Nov-24 13.48 Mars-Qingdao MRURC10 0.20 MRURC50 Nov-24 14.04
Permian Delaware PRDLC00 0.30 PRDLC40 Nov-24 20.35 Corpus Christi-R’dam PRDLC10 0.09 PRDLC50 Nov-24 6.51
Permian Midland PRMDC00 0.35 PRMDC40 Nov-24 23.81 Corpus Christi-R’dam PRMDC10 0.10 PRMDC50 Nov-24 6.70
Prudhoe-Bay PRUDC00 0.46 PRUDC40 Nov-24 31.87 Alaska-USWC PRUDC10 0.04 PRUDC50 Nov-24 2.86
San-Joaquin SANMC00 2.44 SANMC40 Nov-24 167.95 San Joaquin-SoCal SANAC10 0.01 SANAC50 Nov-24 0.77
SCOOP-STACK SCOOC00 0.50 SCOOC40 Nov-24 34.17 Oklahoma-USGC SCOOC10 0.02 SCOOC50 Nov-24 1.01
Tahiti TAHIC00 0.26 TAHIC40 Nov-24 17.68 Tahiti-Yeosu TAHIC10 0.19 TAHIC50 Nov-24 13.15

Latin America Fields (PGA/PCR page 4203)

Argentina
Canadon Seco AMGMN00 0.33 AMGNK40 Nov-24 22.56 Comodoro Rivadavia- AMGPH10 0.12 AMGQE50 Nov-24 8.12
Long Beach
El Medanito AMGMM00 0.30 AMGNJ40 Nov-24 20.77 Bahia Blanca-Cherry Point AMGPG10 0.14 AMGQD50 Nov-24 9.78
Escalante AMGMO00 3.10 AMGNL40 Nov-24 213.95 Comodoro Rivadavia- AMGPI10 0.13 AMGQF50 Nov-24 8.65
Long Beach
Brazil
Jubarte AMGMP00 1.13 AMGNM40 Nov-24 77.69 Madre de Deus-Singapore AMGPJ10 0.20 AMGQG50 Nov-24 13.48
Roncador AMGMQ00 0.49 AMGNN40 Nov-24 33.49 Madre de Deus-Galveston AMGPK10 0.09
. AMGQH50 Nov-24 5.86
Tupi TUPIC00 0.25 TUPIC40 Nov-24 17.19 Rio-Qingdao TUPIC10 0.23 TUPIC50 Nov-24 15.64
Colombia
Castilla (Norte Este) AMGMT00 0.76 AMGNQ40 Nov-24 52.61 Covenas Terminal-Jieyang AMGPN10 0.22 AMGQK50 Nov-24 14.82
Cupiagua AMGMR00 0.42 AMGNO40 Nov-24 29.09 Covenas Terminal-Sikka AMGPL10 0.20 AMGQI50 Nov-24 13.51
Cusiana CUSIC00 0.35 CUSIC40 Nov-24 23.93 Tolu-Houston CUSIC10 0.03 CUSIC50 Nov-24 2.28
Rubiales AMGMS00 0.64 AMGNP40 Nov-24 43.83 Covenas Terminal-Jieyang AMGPM10 0.25 AMGQJ50 Nov-24 17.32
Cuba
Varadero AMGMU00 0.47 AMGNR40 Nov-24 32.06 Mariel-Antwerp AMGPO10 0.09 AMGQL50 Nov-24 5.87
Ecuador
Cuyabeno AMGMW00 0.31 AMGNT40 Nov-24 21.00 Balao-Houston AMGPQ10 0.05 AMGQN50 Nov-24 3.22
Ishpingo AMGMX00 0.52 AMGNU40 Nov-24 35.93 Balao-Panama Canal AMGPR10 0.01 AMGQO50 Nov-24 0.83
Jivino-Napo AMGMY00 0.94 AMGNV40 Nov-24 64.74 Balao-Panama Canal AMGPS10 0.01 AMGQP50 Nov-24 0.67
Sacha SACHC00 0.64 SACHC40 Nov-24 43.95 Esmeraldas-Long Beach SACHC10 0.07 SACHC50 Nov-24 4.57
Shushufindi-Aguarico AMGMV00 0.41 AMGNS40 Nov-24 28.46 Balao-Galveston AMGPP10 0.05 AMGQM50 Nov-24 3.17
Guyana
Liza 1 AMGMZ00 0.25 AMGNW40 Nov-24 16.94 FPSO Liza Destiny- AMGPT10 0.08 AMGQQ50 Nov-24 5.16
Rotterdam
Liza 2 AMGNI00 0.23 AMGPF40 Nov-24 16.16 FPSO Liza Unity- AMGQC10 0.03 AMGQZ50 Nov-24 2.11
Chiriqui Grande Terminal
Payara AMGNA00 0.25 AMGNX40 Nov-24 16.89 FPSO Prosperity- AMGPU10 0.03 AMGQR50 Nov-24 2.16
Chiriqui Grande Terminal
Mexico
Abkatun AMGND00 0.19 AMGPA40 Nov-24 12.90 Mexico STS-Daesan AMGPX10 0.11 AMGQU50 Nov-24 7.70
Cantarell CNTLC00 2.26 CNTLC40 Nov-24 156.11 Cantarell-Bilbao CNTLC10 0.11 CNTLC50 Nov-24 7.22
Chuc AMGNE00 0.24 AMGPB40 Nov-24 16.37 Coatzacoalcos-Cartagena AMGPY10 0.03 AMGQV50 Nov-24 1.71
Pol AMGNF00 0.19 AMGPC40 Nov-24 12.73 Mexico STS-Yokkaichi AMGPZ10 0.16 AMGQW50 Nov-24 10.73

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Crude Oil Marketwire January 8, 2025

Platts crude carbon intensity assessments - fields (continued) (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
Tsimin AMGNC00 0.38 AMGNZ40 Nov-24 26.37 Dos Bocas-Corpus Christi AMGPW10 0.01 AMGQT50 Nov-24 0.89
Xux AMGNB00 0.34 AMGNY40 Nov-24 23.69 Dos Bocas- AMGPV10 0.09 AMGQS50 Nov-24 6.44
Milazzo Anchorages
Trinidad and Tobago
Galeota (Trintes) AMGNG00 0.14 AMGPD40 Nov-24 9.43 Galeota Point-Callao AMGQA10 0.04 AMGQX50 Nov-24 2.99
Venezuela
Orinoco Oil Belt ORINC00 6.93 ORINC40 Nov-24 478.24 Jose-Sikka ORINC10 0.21 ORINC50 Nov-24 14.29
Santa Barbara AMGNH00 2.44 AMGPE40 Nov-24 168.35 Jose Terminal-Singapore AMGQB10 0.19 AMGQY50 Nov-24 13.00
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 January 8, 2025

Dated Brent Monthly Update

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Crude Oil Marketwire January 8, 2025

Dubai Monthly Update

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