The premiums for Light Louisiana Sweet and Heavy Louisiana Sweet oils weakened as the West Texas Intermediate-Brent spread widened.
The January WTI-Brent spread widened 7 cents to $9.96 a barrel at 1:17 p.m. in New York. The gap for the contracts has narrowed by 64 percent since reaching a record of $27.88 a barrel Oct. 14.
Light Louisiana Sweet’s premium to WTI decreased 40 cents to $11.90 a barrel at 12:21 p.m. in New York, according to data compiled by Bloomberg. Heavy Louisiana Sweet’s premium narrowed 40 cents to $12.25.
Thunder Horse’s premium to WTI widened 25 cents to $12. The premium for Mars Blend added 60 cents to $10 a barrel. Poseidon strengthened $1.10 to $10.25 a barrel over WTI.
Southern Green Canyon’s premium increased $1 to $9.75 a barrel and West Texas Sour’s discount widened 5 cents to 90 cents.
The discount for Western Canada Select was unchanged at $12.75 a barrel.
Syncrude’s premium was unchanged at $5 a barrel. Syncrude is a light, low-sulfur synthetic oil derived from the tar sands in Alberta.
Aaron Clark in New York at email@example.com