U.S. WTI Midland crude prices declined on Tuesday after Chevron reduced its cargo offer during the Platts trading window. The move followed a broader softening in physical crude markets.
Chevron offered a September 11–15 cargo at dated Brent plus $1.10 per barrel on a cost, insurance and freight basis for Rotterdam. This represented a drop of 20 cents from Monday’s offer of dated Brent plus $1.30. The reduction contributed to softer pricing for WTI Midland crude.
Other traders also submitted offers in the same window. Unipec proposed a September 8–12 cargo at dated Brent plus $1.75 per barrel CIF Rotterdam, while Shell listed a September 11–15 cargo at dated Brent plus $1.50 per barrel CIF Rotterdam. CNOOC offered a Johan Sverdrup cargo for September 20–24 at dated Brent plus $1.20 per barrel CIF Rotterdam.
The Platts trading window serves as a key benchmark for physical crude deals, with prices typically reflecting supply-demand dynamics in the Atlantic Basin. The decline in Chevron’s offer signaled a shift in near-term supply availability or pricing strategy, pressuring WTI Midland benchmarks lower during the session.
