U.S. WTI Midland crude prices declined on Tuesday after Chevron reduced its offer for a September cargo to Rotterdam, signaling softer demand in the Platts trading window.
Chevron’s offer for a September 11–15 cargo was set at dated Brent plus $1.10 on a cost, insurance, and freight (CIF) basis, down from Monday’s dated Brent plus $1.30. The reduction followed competitive pricing from other traders, including Unipec and Shell, which posted higher bids for similar cargoes.
Unipec offered a September 8–12 cargo at dated Brent plus $1.75 CIF Rotterdam, while Shell listed a September 11–15 cargo at dated Brent plus $1.50 CIF Rotterdam. CNOOC separately offered a September 20–24 cargo of Johan Sverdrup crude at dated Brent plus $1.20 CIF Rotterdam, adding to the broader pressure on Midland prices.
