U.S. Gulf Coast oil spreads to West Texas Intermediate fluctuated as the discount of WTI to Brent crude widened.
The January WTI-Brent spread gained $1.16 to $10.79 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.
Light Louisiana Sweet’s premium to WTI increased 5 cents to $11.30 a barrel at 4:07 p.m. in New York, according to data compiled by Bloomberg. Heavy Louisiana Sweet’s premium narrowed 30 cents to $12.20.
Thunder Horse’s premium to WTI widened $2 to $10. The premium for Mars Blend weakened $1.75 to $7.50 a barrel. Poseidon’s premium weakened $1.75 to $7.75 a barrel over WTI.
Southern Green Canyon’s premium narrowed 75 cents to $7.25 a barrel and West Texas Sour’s discount narrowed 10 cents to 80 cents.
The discount for Western Canada Select narrowed 15 cents to $12.45 a barrel.
Syncrude’s premium strengthened 75 cents a barrel to $4.50. Syncrude is a light, low-sulfur synthetic oil derived from the tar sands in Alberta.