This chart is for Midland only.

August 2024: 5 Midland Cargoes Traded

Twelve Month Average: 10 Midland Cargoes per month

HOU ADV and OI remain at record levels

Over the last 5 months the US Gulf Coast and HOU have on average been $0.21 less backward than Argus Cushing diff to CMA Roll.

So far September trade month has HOU only $0.03 cheaper.

Is Houston about to go more backward than Cushing?

September HOU saw record volumes to delivery and record EFPs with over 18 million barrels going to physical delivery