Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

U.S. Gulf Coast Oil Premiums Weaken as WTI-Brent Spread Narrows

June 14 (Bloomberg) -- U.S. Gulf Coast oils weakened after the premium for Brent crude over West Texas Intermediate narrowed.

The gap between Brent and WTI, based on July futures prices, narrowed $1.32 to $13.19 a barrel at 2:35 p.m. in New York. When Brent falls versus WTI, it typically decreases the value of low-sulfur U.S. grades that compete with West African oil priced against the European benchmark.

Light Louisiana Sweet’s premium lost 35 cents to $11.80 a barrel at 2:10 p.m. in New York, according to data compiled by Bloomberg. Heavy Louisiana Sweet decreased 70 cents to $12 over WTI. Poseidon’s premium to WTI sank 25 cents to $8 a barrel, while Southern Green Canyon’s increased 40 cents to $7.50.

Mars Blend’s premium narrowed 20 cents to $9.10 a barrel. Thunder Horse, a sour crude with lower sulfur content than Mars, Poseidon and Southern Green Canyon, lost 30 cents to $10.90 a barrel over WTI.

Western Canada Select’s discount to WTI narrowed $1.35 to $22.25 a barrel. Syncrude’s discount narrowed $2.65 to $3.10. Bakken oil’s discount narrowed 50 cents a barrel to $8.50.

To contact the reporter on this story: Aaron Clark in New York at aclark27@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.