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WTI Midland Futures And News

The current price of WTI Midland today is $87.73 per barrel. Live charts, historical data, futures contracts, and breaking news on WTI Midland prices can be found below.

WTI Midland May 2024
87.73
+0.90 (+1.04%)
Open
87.39
Day Range
87.38 - 87.85
Volume
6
5 Day
-1.20%
1 Month
+9.44%
3 Month
+14.86%
YTD
+15.63%
1 Year
+11.58%

Futures Contracts

Contract
Last
Change
Open
High
Low
Date
87.73
+0.9
87.39
87.85
87.38
04:04
87.34
+1.02
87.17
87.34
86.95
04:04
86.34
+0.82
86.18
86.34
86.18
03:04
84.74
-0.71
84.74
84.74
84.74
11/04
83.92
-0.64
83.92
83.92
83.92
11/04
83.08
-0.57
83.08
83.08
83.08
11/04
82.28
-0.53
82.28
82.28
82.28
11/04
81.53
-0.46
81.53
81.53
81.53
11/04
80.82
-0.39
80.82
80.82
80.82
11/04
80.17
-0.31
80.17
80.17
80.17
11/04
79.56
-0.25
79.56
79.56
79.56
11/04
79
-0.23
79
79
79
11/04
78.46
-0.2
78.46
78.46
78.46
11/04
77.96
-0.17
77.96
77.96
77.96
11/04
77.45
-0.14
77.45
77.45
77.45
11/04
76.95
-0.11
76.95
76.95
76.95
11/04
76.48
-0.08
76.48
76.48
76.48
11/04
76.06
-0.05
76.06
76.06
76.06
11/04
75.68
-0.03
75.68
75.68
75.68
11/04
75.31
-0.02
75.31
75.31
75.31
11/04
74.95
-0.03
74.95
74.95
74.95
11/04
74.61
-0.04
74.61
74.61
74.61
11/04
74.29
-0.02
74.29
74.29
74.29
11/04
73.95
+0
73.95
73.95
73.95
11/04
73.6
+0.02
73.6
73.6
73.6
11/04
73.22
+0.03
73.22
73.22
73.22
11/04
72.85
+0.04
72.85
72.85
72.85
11/04
72.5
+0.07
72.5
72.5
72.5
11/04
72.16
+0.08
72.16
72.16
72.16
11/04
71.83
+0.08
71.83
71.83
71.83
11/04
71.58
+0.09
71.58
71.58
71.58
11/04
71.32
+0.09
71.32
71.32
71.32
11/04
71.11
+0.12
71.11
71.11
71.11
11/04
70.93
+0.18
70.93
70.93
70.93
11/04
70.73
+0.23
70.73
70.73
70.73
11/04
70.51
+0.26
70.51
70.51
70.51
11/04
70.28
+0.27
70.28
70.28
70.28
11/04
70.08
+0.29
70.08
70.08
70.08
11/04
69.89
+0.29
69.89
69.89
69.89
11/04
69.7
+0.29
69.7
69.7
69.7
11/04
69.5
+0.3
69.5
69.5
69.5
11/04
69.29
+0.31
69.29
69.29
69.29
11/04
69.05
+0.29
69.05
69.05
69.05
11/04
68.89
+0.3
68.89
68.89
68.89
11/04
68.76
+0.3
68.76
68.76
68.76
11/04
68.65
+0.3
68.65
68.65
68.65
11/04
68.53
+0.3
68.53
68.53
68.53
11/04
68.47
+0.3
68.47
68.47
68.47
11/04
68.4
+0.3
68.4
68.4
68.4
11/04
68.28
+0.3
68.28
68.28
68.28
11/04
68.15
+0.3
68.15
68.15
68.15
11/04
68.12
+0.3
68.12
68.12
68.12
11/04
68.08
+0.3
68.08
68.08
68.08
11/04
68.04
+0.3
68.04
68.04
68.04
11/04
68
+0.3
68
68
68
11/04

Latest WTI Midland news and articles

OPEC Expects Solid Global Oil Demand This Summer

Apr 11, 2024 at 09:00 | Charles Kennedy

Global oil demand in the summer is expected to be strong as consumption of transportation fuels is set to rise…

Morgan Stanley Hikes Its Summer Oil Price Forecast to $94

Apr 09, 2024 at 09:00 | Charles Kennedy

Morgan Stanley sees heightened geopolitical risk pushing Brent Crude oil prices to $94 per barrel in the third quarter as…

Low Natural Gas Prices Curb U.S. Oil Production Gains

Apr 08, 2024 at 10:00 | Charles Kennedy

U.S. oil producers are not in a rush to significantly boost production despite oil prices hovering at a six-month high,…

Bullish Sentiment Has Taken Hold of Oil Markets

Apr 08, 2024 at 09:00 | Tsvetana Paraskova

Fundamentals and geopolitics pushed oil prices to above $90 per barrel last week as more market participants have become bullish…

Brent Breaks Above $91 as Bullish Sentiment Builds

Apr 05, 2024 at 09:00 | Michael Kern

Oil prices rallied this week as geopolitical risk and supply issues added to bullish sentiment, although concern that the Fed…

OPEC+ Panel Unlikely to Propose Policy Changes as Oil Prices Hit 2024 High

Apr 02, 2024 at 07:22 | Tsvetana Paraskova

The Joint Ministerial Monitoring Committee (JMMC) of OPEC+ is unlikely to propose any changes to oil production policy when it…

Are Oil Markets Underpricing Geopolitical Risks?

Jan 26, 2024 at 01:49 | Alex Kimani

Oil prices have achieved limited upward momentum over the past week, with WTI crude

Why Oil Markets Aren’t Reacting to Supply Disruptions and Geopolitical Risk

Jan 18, 2024 at 18:00 | Irina Slav

In the past, any suggestion of a conflict in the Middle East prompted oil prices to rise. But…

Surging Tanker Rates Make U.S Oil Too Expensive for Asia

Jan 11, 2024 at 18:00 | Tsvetana Paraskova

The tense situation in the Middle East with constant Houthi attacks on commercial vessels in the Red Sea is upending…

Security Concerns in Red Sea Boost U.S. Oil Appeal

Jan 09, 2024 at 19:00 | Irina Slav

Oil production in the Permian Basin this year is set to grow more slowly than in 2023, industry executives with…

Oil Prices Rise as Fed Pivot Boosts Demand Optimism

Dec 14, 2023 at 05:10 | Tsvetana Paraskova

Oil prices rose early on Thursday in Asian trade, extending the gains from Wednesday, after the Fed signaled there could…

Panama Canal Restrictions Spillover Effect To Hit LNG Trade

Nov 30, 2023 at 18:00 | Charles Kennedy

The Panama Canal authorities recently imposed restrictions on vessel traffic due to a severe drought that reduced the level of…

OPEC+ Headed for 2 Million Bpd Oil Output Cut in 2024

Nov 30, 2023 at 08:23 | Charles Kennedy

As the meeting of the Joint Ministerial Monitoring Committee (JMMC) began on Thursday, delegates are telling media that…

Oil Prices Extend Gains as Market Awaits Key OPEC+ Meeting

Nov 29, 2023 at 07:17 | Tsvetana Paraskova

Oil prices extended gains early on Wednesday as a storm continues to disrupt crude loadings in the Black…

Houthi Tanker Seizures Could Reignite the War Premium in Oil Markets

Nov 27, 2023 at 08:54 | Simon Watkins

The risk premium for oil prices resulting from the ongoing Israel-Hamas War has not risen as dramatically as…

Oil Prices Remain Depressed After OPEC+ Shocked Markets

Nov 23, 2023 at 03:10 | Irina Slav

Crude oil prices remained depressed in morning trade today in Asia following the Wednesday slump. Yesterday's drop in…

Oil Prices Plunge by 4% as OPEC+ Postpones Meeting

Nov 22, 2023 at 08:04 | Charles Kennedy

Oil prices plummeted by 4% on Wednesday after OPEC officially confirmed that the OPEC+ meeting scheduled for this weekend would…

Oil Prices Rise on Expectations of Deeper OPEC+ Cuts

Nov 20, 2023 at 01:55 | Irina Slav

Crude oil prices began the week with gains amid mounting expectations that OPEC+ will deepen voluntary production cuts.…

Oil Prices Reverse Despite Crude Inventory Build

Nov 15, 2023 at 09:37 | Irina Slav

Crude prices saw a small jump this morning after the Energy Information Administration reported an estimated inventory increase…

U.S. Crude Oil Exports Are Soaring To Record Highs

Nov 08, 2023 at 17:00 | Tsvetana Paraskova

U.S. crude oil exports continue to reshape the global market as America is pumping record volumes of oil and shipping…

What are WTI Midland Futures?


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.

What is WTI Midland?


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.

What is the Difference Between WTI and WTI Midland?


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.

FAQs

+

Why is WTI Midland Traded at a Premium to WTI?

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.

+

Why is WTI Midland Preferred by Buyers?

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.

+

How Has Market Confusion Over WTI Been Addressed?

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.

+

Can WTI Midland Be Considered a Guarantee of Quality?

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.

+

Are Blended Crudes Considered Less Favorable in the Market?

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.



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