WTI Midland crude differentials fall in Tuesday trading

WTI Midland crude oil differentials fell in Tuesday trading as trading activity continued in the Platts window, with a cargo changing hands between major energy traders. Glencore sold a WTI Midland cargo for delivery August 30 to September 3 to Equinor at dated Brent plus $5.50 on a cost, insurance, and freight (CIF) basis to Rotterdam. The transaction equated to approximately dated Brent plus $3.77 on a free on board (FOB) basis, according to calculations. TotalEnergies bid for a WTI Midland cargo for August 16-20 at dated Brent plus $5.80 CIF Rotterdam, while Glencore offered a cargo for August 25-29 at dated Brent plus $5.25 CIF Rotterdam. On Monday, Equinor bought a WTI Midland cargo for August 23-27 from Glencore at dated Brent plus $5.95 CIF Rotterdam. In the North Sea market, Phillips 66 withdrew a bid for an Ekofisk cargo scheduled for delivery August 26-28 at dated Brent plus $6.00.