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WTI Midland Establishes Itself in Dated Brent Basket: Platts

OIL

Ten months since WTI’s inclusion in the Dated Brent basket, the grade has now imbedded itself, having traded 100 times in the MOC, Platts said.

  • WTI has been the most competitive grade in the basket across 27% of the assessment days since May 2023.
  • Robust demand for North Sea Forties for February and March loading helped drive WTI’s surge to an 18-month high premium of $2.335/MMBtu over Brent in Feb.
  • However, rising sweet-light supply in Europe has put pressure on WTI since H2 Feb.

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