WTI Midland Premium Hits $16.7/b

Asian refiners pivot to US crude on Hormuz disruptions, lifting WTI spot premium / Asian refiners boost US crude purchases - WTI Midland premium surges to $16.7/barrel / China resumes US imports amid supply crisis

Jun 02, 2026

Spot premiums for US crude grades are expected to continue rising as Asian refiners ramp up WTI Midland crude imports to bridge the gap caused by reduced Middle Eastern cargo deliveries, making US suppliers and producers clear winners in the latest Persian Gulf conflict, according to refinery feedstock managers and industry analysts. US crude oil suppliers are among the biggest winners in the latest Middle East conflict from a geopolitical and energy market perspective, as higher oil prices and spot premiums would boost their revenues, South Korea’s top refiner SK Innovation said in its March market analysis report, citing chief research analyst Choi Joon-young. Among recent spot market deals concluded in the Asian market, Taiwan’s CPC purchased two VLCCs of WTI Midland crude for June delivery at a premium of...

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