Alaska North Slope Oil Weakens as Price of Foreign Imports Falls
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Alaska North Slope crude on the spot market weakened as the price of foreign imports it competes against for space in West Coast refineries fell.
Brent, the European benchmark, slid to a discount to U.S. West Texas Intermediate in intraday trading today for the first time since Aug. 17, 2010. Brent’s premium to WTI averaged $17.47 in 2012, and traded $23.44 higher on Feb. 8.