PIW Market Indicators

PIW Market Indicators ($/bbl) Aug 9- Aug 2- Jul 12- Aug 11 Aug 6 Jul 16 Spot Crude Opec Basket $70.44 $72.01 $74.15 UK Brent (Dtd.) 71.10 72.25 75.61 US WTI (Cushing) 68.00 69.49 73.19 Nigeria Bonny Lt. 70.37 72.75 77.07 Dubai Fateh 69.32 71.21 73.39 US Mars 66.21 67.27 71.41 Russia Urals (NWE) 68.47 70.64 73.38 Crude Futures Brent 1st (ICE) 70.37 71.53 74.69 Brent 2nd (ICE) 69.96 70.99 73.97 B-wave (ICE) 69.78 71.85 74.71 WTI 1st (Nymex) 68.01 69.47 73.19 WTI 2nd (Nymex) 67.79 69.05 72.74 Oman 1st (DME) 69.53 70.35 73.51 Oman 2nd (DME) 68.90 69.48 72.76 Murban 1st (ICE) 69.52 70.63 74.01 Murban 2nd (ICE) 68.59 69.54 72.80 Forward Spreads Brent (1st-Dtd.) -$0.73 -$0.71 -$0.92 Brent (2nd-1st) -0.41 -0.54 -0.72 WTI (2nd-1st) -0.21 -0.41 -0.45 WTI (3rd-2nd) -0.35 -0.50 -0.88 Oman (2nd-1st) -0.63 -0.86 -0.75 Oman (3rd-2nd) -1.29 -0.87 -1.10 Murban (2nd-1st) -0.93 -1.09 -1.21 Murban (3rd-2nd) -0.71 -0.80 -0.93 Grade Differentials WTI-Brent (1st) -$2.58 -$2.48 -$1.95 WTI-LLS -0.72 -0.51 -0.63 WTI-Mars +1.78 +2.22 +1.78 Brent(Dtd)-Dubai +1.79 +1.04 +2.22 Brent(Dtd.)-Urals +2.63 +1.61 +2.23 Brent(Dtd.)-Bonny Lt. +0.73 -0.50 -1.46 Term Crude Formulas Arab Lt.-US (c.i.f.) $68.94 $70.00 $73.94 Arab Lt.-Europe (Med) 68.98 71.05 73.31 Arab Lt.-Far East (f.o.b.) 72.59 74.24 75.78 Nigeria Bonny Lt. 71.53 72.68 75.99 Arab Light Gross Product Worth Rotterdam $68.79 $70.62 $74.57 US Gulf Coast 78.33 78.55 79.75 Singapore 69.09 70.71 71.94 Gross Product Worth & Margins Rotterdam UK Brent GPW $74.19 $75.53 $72.12 UK Brent Margin +2.34 +2.66 -4.28 US Gulf Coast Mars GPW 76.58 76.86 78.07 Mars Margin +10.27 +9.49 +6.56 Singapore Oman GPW 69.30 70.95 72.11 Oman Margin -1.57 -1.33 -2.66 US Nymex WTI 3-2-1 Crack +$24.57 +$23.55 +$20.58 Refined Products Rotterdam ($/ton) Eurobob Gasoline $706.67 $726.62 $720.80 Gasoil (0.1%) 570.50 578.10 596.05 Fuel Oil (0.5%)* 480.67 493.80 523.50 US Gulf Coast (¢/gal) RBOB Gasoline 225.59¢ 225.51¢ 224.16¢ ULS Diesel 202.97 204.33 207.95 Fuel Oil (0.5%, $/ton) $502.00 $504.80 $522.00 Singapore ($/bbl) Naphtha $72.69 $73.66 $75.13 Gasoil (0.05%) 74.12 76.32 78.29 Fuel Oil (0.5%, $/ton) 520.33 532.40 550.80 *ARA fuel oil prices for 1% sulfur fuel oil (LSFO) have been