Bloomberg the Company

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

Follow Us

Industry Products

Heavy Louisiana Sweet Leads Gulf Crudes Higher as WTI Weakens

Don't Miss Out —
Follow us on:

Feb. 28 (Bloomberg) -- Heavy Louisiana Sweet gained more than other Gulf of Mexico crudes on the spot market as benchmark West Texas Intermediate’s discount to Brent crude widened.

WTI weakened 33 cents to $19.44 a barrel at 1:57 p.m. in New York. When Brent gains versus WTI, it typically strengthens the value of U.S. grades that compete with foreign oils priced against the European benchmark.

Heavy Louisiana Sweet’s premium to WTI widened 40 cents a barrel to $21.25 at 2:14 p.m. New York time, according to data compiled by Bloomberg. Light Louisiana Sweet gained 15 cents a barrel to trade at $20.55 over WTI.

Mars Blend’s premium to WTI rose by 30 cents to $16.50 a barrel, while Poseidon’s premium gained 15 cents to $16.75 a barrel over WTI. The premium for Thunder Horse, which has a lower sulfur content than Mars, Poseidon and Southern Green, narrowed by 15 cents to $18.85.

The discount for Western Canada Select against WTI narrowed 50 cents to $25.50 a barrel, and Syncrude’s premium was unchanged at $3. Bakken gained 50 cents to trade at a $3-a-barrel discount to WTI.

To contact the reporter on this story: Eliot Caroom in New York at ecaroom@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.