WTI Differentials Ease, Glencore Sells to Equinor

Overview

WTI Midland crude differentials eased on Tuesday, 4 August 2026, as trading continued in the Platts window with limited cargo activity.

Transactions

• Glencore sold an August 30‑September 3 Midland cargo to Equinor at Brent + $5.50 CIF Rotterdam, equivalent to Brent + $3.77 FOB.
• On Monday, Equinor purchased an August 23‑27 Midland cargo from Glencore at Brent + $5.95 CIF Rotterdam.
• TotalEnergies placed a bid for an August 16‑20 Midland cargo at Brent + $5.80 CIF Rotterdam.
• Glencore offered an August 25‑29 Midland cargo at Brent + $5.25 CIF Rotterdam.
• Phillips 66 withdrew its bid for an Ekofisk cargo scheduled for August 26‑28 at Brent + $6.00.

Pricing

Differentials were quoted relative to dated Brent, with the sold cargo at +$5.50 CIF Rotterdam and the equivalent FOB spread of +$3.77. Other bids ranged from +$5.25 to +$5.80 CIF, while the withdrawn Ekofisk bid was at +$6.00.

Market Context

The easing of differentials reflects reduced trading activity in the Platts window, with only one cargo changing hands.