Houston-Midland, Texas, crude flipped to a premium over its counterpart in Cushing, Oklahoma, again in December, and has held that position since. Platts assessed West Texas Intermediate in Midland at a 65 cents/b premium over WTI Cushing Friday. That assessment has averaged Cushing plus 36 cents/b since December 15, when it flipped. The reason for the switch is not a new one-pipeline commitments are outpacing production, so shippers are having to bid up the price of crude in the basin to fill their committed space. At the other end of the pipeline, shippers are offering th
展开▼
