 |
Louisiana Light • 2 days | 87.12 | +0.63 | +0.73% | ||
|
Bonny Light • 1 day | 90.15 | +1.75 | +1.98% | ||
|
Opec Basket • 2 days | 88.39 | -0.06 | -0.07% | ||
|
Mars US • 175 days | 81.76 | +2.02 | +2.53% | ||
|
Gasoline • 11 hours | 2.765 | +0.006 | +0.23% |
|
Bonny Light • 1 day | 90.15 | +1.75 | +1.98% | ||
|
Girassol • 1 day | 90.85 | +1.82 | +2.04% | ||
|
Opec Basket • 2 days | 88.39 | -0.06 | -0.07% |
|
Peace Sour • 1 day | 76.77 | +0.76 | +1.00% | ||
|
Light Sour Blend • 1 day | 79.82 | +0.76 | +0.96% | ||
|
Syncrude Sweet Premium • 1 day | 86.77 | +0.76 | +0.88% | ||
|
Central Alberta • 1 day | 77.17 | +0.76 | +0.99% |
|
Eagle Ford • 2 days | 80.05 | +0.76 | +0.96% | ||
|
Oklahoma Sweet • 2 days | 80.00 | +0.75 | +0.95% | ||
|
Kansas Common • 2 days | 73.75 | +0.75 | +1.03% | ||
|
Buena Vista • 3 days | 87.23 | -0.55 | -0.63% |
The current price of WTI Midland today is $85.82 per barrel. Live charts, historical data, futures contracts, and breaking news on WTI Midland prices can be found below.
Oil price volatility has climbed dramatically as tensions between Israel and Iran escalate, with Brent breaking the $90 mark early…
Oil prices gave up nearly all of early Friday’s gains after an Iranian official told Reuters that there hadn’t been…
Following a rally in energy stocks this year, hedge funds have been selling off U.S. oil company shares to pile…
Oil prices spiked on Friday morning following reports of heightened tensions between Iran and Israel, with the possibility of an…
Global oil demand in the summer is expected to be strong as consumption of transportation fuels is set to rise…
Morgan Stanley sees heightened geopolitical risk pushing Brent Crude oil prices to $94 per barrel in the third quarter as…
U.S. oil producers are not in a rush to significantly boost production despite oil prices hovering at a six-month high,…
Fundamentals and geopolitics pushed oil prices to above $90 per barrel last week as more market participants have become bullish…
Oil prices rallied this week as geopolitical risk and supply issues added to bullish sentiment, although concern that the Fed…
The Joint Ministerial Monitoring Committee (JMMC) of OPEC+ is unlikely to propose any changes to oil production policy when it…
Oil prices have achieved limited upward momentum over the past week, with WTI crude
In the past, any suggestion of a conflict in the Middle East prompted oil prices to rise. But…
The tense situation in the Middle East with constant Houthi attacks on commercial vessels in the Red Sea is upending…
Oil production in the Permian Basin this year is set to grow more slowly than in 2023, industry executives with…
Oil prices rose early on Thursday in Asian trade, extending the gains from Wednesday, after the Fed signaled there could…
The Panama Canal authorities recently imposed restrictions on vessel traffic due to a severe drought that reduced the level of…
As the meeting of the Joint Ministerial Monitoring Committee (JMMC) began on Thursday, delegates are telling media that…
Oil prices extended gains early on Wednesday as a storm continues to disrupt crude loadings in the Black…
The risk premium for oil prices resulting from the ongoing Israel-Hamas War has not risen as dramatically as…
Crude oil prices remained depressed in morning trade today in Asia following the Wednesday slump. Yesterday's drop in…
WTI Midland futures are financial contracts that allow participants to buy or sell a specified quantity of WTI Midland crude oil at a predetermined price on a future date. These contracts serve as essential tools for managing risk and capitalizing on market opportunities, providing exposure to the unique characteristics of WTI Midland crude.
Prices of WTI Midland futures are intimately connected to the dynamics of the WTI crude oil market, with distinct regional considerations. Economic indicators, geopolitical events, and supply-demand fundamentals all contribute to the price movements of WTI Midland futures, and traders utilize these contracts to navigate and respond to market forces.
WTI Midland represents unblended WTI crude directly from the Permian Basin to Cushing, Oklahoma. It is considered a purer form of WTI, distinct from blended crudes that may result from the mixing of different oil streams at Cushing. Recent market trends show a premium for WTI Midland over NYMEX Crude, reflecting concerns about blending at Cushing and the desire for a more assured quality of crude.
The key distinction lies in the purity of the crude. WTI Midland is unblended, offering a more direct and reliable supply from the Permian Basin. In contrast, WTI may include blended crudes meeting NYMEX specifications, introducing an element of uncertainty about the specific grade.
WTI Midland commands a premium over WTI due to its purity. Buyers are willing to pay more for unblended WTI directly from the Permian Basin to Cushing, seeking assurance of quality and avoiding potential uncertainties associated with blended crudes.
Buyers prefer WTI Midland over WTI to ensure they receive a purer form of WTI directly from the Permian Basin. The premium reflects market concerns about blending and a desire for a more straightforward and reliable supply. European refiners may be damaged by blended crudes as they typically have less complex processing units than their U.S. counterparts.
Market confusion over what constitutes WTI led to changes in contract specifications by CME Group and Enterprise Products Partners. These changes aim to provide additional quality assurance for WTI, addressing concerns about blended crudes and ensuring a clearer understanding of the delivered grade.
While WTI Midland is considered a purer form of WTI, the guarantee of quality is subject to market dynamics. Recent changes in contract specifications aim to enhance quality assurance, but the market will ultimately determine the impact on the perceived quality of WTI and WTI Midland.
The market tends to view blended crudes, which may result from mixing different oil streams, as less favorable. Buyers, both domestically and internationally, show a preference for unblended grades like WTI Midland, emphasizing the importance of purity and clarity in crude oil transactions.
