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U.S. Gulf Crude Premiums Weaken as WTI-Brent Spread Narrows
Oct. 21, 2011 03:53PM PST
Oil and Gas InvestingBloomberg reported that U.S. Gulf Coast crude premiums weakened after West Texas Intermediate’s discount to Brent lowered for the fourth time this week.
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.
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