U.S. Gulf Crude Premiums Strengthen as WTI-Brent Spread Widens

Oct. 20, 2011 08:51PM PST

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.

Click here to read the full Bloomberg report