North Sea crude-WTI trades higher as demand rises
USO•WTI Midland crude differentials in Europe rose on Wednesday as buying interest recovered; Glencore bought an Occidental November 21-25 cargo at dated Brent plus $10.65 on a CIF Rotterdam basis.
1. WTI Midland cargo deal
WTI Midland crude differentials in Europe rose on Wednesday as buying interest recovered after values had slid since the end of the previous week. Glencore bought from Occidental a November 21-25 cargo at dated Brent plus $10.65 on a CIF Rotterdam basis, while a higher bid stood at dated Brent plus $10.95. The bid equated to about dated Brent plus $6.60 on an FOB basis.
