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U.S. Gulf Oil Premiums Strengthen as Brent-WTI Spread Widens
Sep. 15, 2011 10:51AM PST
Oil and Gas InvestingBloomberg reported that U.S. Gulf crude premiums rose after U.S. benchmark West Texas Intermediate’s discount to Brent widened for a second day.
Bloomberg reported that U.S. Gulf crude premiums rose after U.S. benchmark West Texas Intermediate’s discount to Brent widened for a second day.
The market news is quoted as saying:
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.