Heavy Louisiana Sweet Oil Premium Widens After Chevron Leak
Investing News Network - September 15th, 2011
The premium for Heavy Louisiana Sweet oil rose two days after Chevron Corp. (CVX) shut about 15,000 barrels a day of oil production in the Gulf of Mexico following a leak.
Bloomberg reports that the premium for Heavy Louisiana Sweet oil surged after Chevron Corp. (NYSE:CVX) shut about 15,000 barrels a day of oil production in the Gulf of Mexico following a leak.
The market news is quoted as saying:
Heavy Louisiana Sweet’s premium to West Texas Intermediate increased $2 to $27.50 a barrel at 4:29 p.m. in New York, according to data compiled by Bloomberg. Light Louisiana Sweet’s premium gained $1.20 to $24.70.