U.S. Gulf Coast Oils Declined

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.

Click here to read the full Bloomberg report.