U.S. Gulf Oil Premiums Widen as Cushing Discount Steady at $14
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U.S. Gulf crude premiums strengthened as the benchmark West Texas Intermediate, priced in Cushing, Oklahoma, held steady at about $14 compared with its European counterpart.
The gap between April-delivery WTI futures and Brent, the basis for European and West African crudes, narrowed 2 cents to $14.06 at 1:31 p.m. in New York. The differential settled at a record $15.94 Feb. 16.