WTI FOB premiums to MEH sink amid easing backwardation, well-supplied European market

摘要

Platts American GulfCoast Select, which represents Midland-spec WTI crude for export out of the US Gulf Coast on an FOB basis, has seen its premium to WTI crude at the Magellan East Houston terminal come under pressure amid an easing in backwardation, returning Libyan production, European refining margins hurt by increasing energy costs, and upcoming refinery turnarounds.