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U.S. Gulf Crude Premiums Strengthen as WTI-Brent Spread Widens
Oct. 20, 2011 08:51PM PST
Oil and Gas InvestingBloomberg reported that U.S. Gulf Coast crude premiums was bolstered by West Texas Intermediate crude’s discount to Brent oil this week.
Bloomberg reported that U.S. Gulf Coast crude premiums was bolstered by West Texas Intermediate crude’s discount to Brent oil this week.
As quoted in the market news:
When Brent increases versus WTI, it strengthens the value of low-sulfur U.S. grades that compete with West African oil priced against the European benchmark.
Heavy Louisiana Sweet’s premium to WTI gained $2.40 to $28 a barrel while Light Louisiana Sweet added $3.20 to $29 above the U.S. benchmark.