Across the FX board today, USD/CNY closes at 6.6612, another 0.042 softer and extending the yuan's uptrend; EUR/CNY prints 7.4476, up 0.0793; EUR/USD at 1.1182, up 0.0895. Asian currencies diverge: USD/JPY at 157.88 ticks up 0.1395, while USD/KRW at 1,337.08 falls 0.1918, a stronger won.

For SNSUC's transshipment pricing, the exchange rate is the second variable. At a quote of $111.58/bbl and an FX of 6.6612, delivered RMB runs about 743 yuan per barrel (111.58 × 6.6612). Every one-fen gain in the yuan trims about 1.12 yuan per barrel off the delivered cost (111.58 × 0.01), or roughly 1.12 million yuan on a 1-million-barrel cargo.

A firmer won helps Korean buyers on delivered local-currency cost; Japanese buyers feel pressure from the slightly softer yen. One Brent quote, landed on different destination ledgers, already reads as more than one number.