WTI Cushing Physical vs NYMEX Futures
Live basis spread between WTI Cushing Spot (EIA RWTC) and NYMEX WTI futures
WTI Cushing Spot (Physical)
$96.24
per barrel · EIA RWTC (FOB Cushing, OK)
NYMEX WTI Futures
$91.66
per barrel · nearest month
Cushing Basis
+$4.58
+5.0% vs futures
Why WTI Cushing Basis Matters
Midcontinent refiners
PADD 2 refiners (Midwest) price barrel contracts off WTI Cushing Spot. A premium to futures means paper traders are underpricing physical demand.
Pipeline & storage signal
Cushing is the settlement hub for NYMEX WTI. Basis blowouts almost always reflect storage fill (negative) or drain (positive) at Cushing tank farms.
Shale producer netbacks
Permian and Bakken producers sell off WTI Cushing or a Midland/ Bakken differential. Rising Cushing basis usually improves producer netbacks within days.
Get the Live Spread via API
# WTI Cushing Spot (physical, EIA RWTC)
curl -H "Authorization: Token YOUR_API_KEY" \
https://api.oilpriceapi.com/v1/prices/latest?by_code=WTI_SPOT_USD
# NYMEX WTI Futures
curl -H "Authorization: Token YOUR_API_KEY" \
https://api.oilpriceapi.com/v1/prices/latest?by_code=WTI_USD