U.S. Gulf Crude Premiums Weaken as WTI-Brent Spread Narrows

Oct. 21, 2011 03:53PM PST

Bloomberg reported that U.S. Gulf Coast crude premiums weakened after West Texas Intermediate’s discount to Brent lowered for the fourth time this week.

As quoted in the market news:

The gap between WTI and Brent December contracts narrowed $1.53 to $22.16 at settlement. The spread for prompt month contracts settled at a record $27.88 a barrel Oct. 14.

Click here to read the full Bloomberg report