U.S. Gulf Oil Premiums Gain as WTI-Brent Differential Widens

Nov. 29, 2011 04:34PM PST

Bloomberg reported that U.S. Gulf Coast oil premiums to West Texas Intermediate surged after the U.S. benchmark decreased in comparison to European Brent crude.

As quoted in the market news:

The January WTI-Brent spread widened 13 cents to $10.92 a barrel in New York. The gap for the contracts has narrowed by 61 percent since reaching a record of $27.88 a barrel Oct. 14.

Click here to read the full Bloomberg report.