Louisiana Oils Reach Widest Premiums to WTI Since at Least 1991

Bloomberg reports that the premiums for Light Louisiana Sweet and Heavy Louisiana Sweet crudes rose to the highest levels against West Texas Intermediate since at least 1991.

The market news is quoted as saying:

The spread between March-delivery futures for WTI and Brent, the basis for European and West African crudes, increased to $11.25 a barrel, at 12:36 p.m. in New York. A larger premium for Brent makes imports to the Gulf Coast more expensive than U.S. grades.

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