Overview
On 12 June 2026, Reuters reported that the differential for U.S. WTI Midland crude oil fell after the trading house Moeve submitted a lower cargo offer for the week of 24‑28 June. No contracts were concluded during that trading day, and Equinor placed a separate bid for the Johan Sverdrup offshore field.
Offer Details
Moeve’s revised proposal priced the June 24‑28 cargo at dated Brent plus $1.25 on a cost, insurance and freight (CIF) basis to Rotterdam. This represented a reduction of $0.45 from its Thursday offer, which had been dated Brent plus $1.70 on the same CIF terms. Reuters’ calculations indicated that the new CIF price corresponds to approximately dated Brent plus $0.01 on a free‑on‑board (FOB) basis.
Market Activity
Despite the lower differential, the trading session ended without any deals being executed. In parallel, Equinor submitted a bid for the Johan Sverdrup field, though the article did not disclose the terms of that bid.
Additional Information
The article notes that it was generated with AI assistance and reviewed by an editor, and it includes standard Reuters copyright notices.