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Bloomberg reported that U.S. Gulf Coast oils declined after the discount for WTI compared with Brent narrowed.
Bloomberg reported that U.S. Gulf Coast oils declined after the discount for WTI compared with Brent narrowed.
As quoted in the market news:
Brent’s premium over WTI, based on May futures prices, narrowed 75 cents to $20.12 a barrel in New York. When Brent decreases versus WTI, it typically boosts the value of low- sulfur U.S. grades that compete with West African oil priced against the European benchmark.