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

Domestic Crudes Weaken in U.S. Gulf as WTI Gains Against Brent

April 5 (Bloomberg) -- Gulf of Mexico crudes weakened against West Texas Intermediate as the domestic benchmark strengthened by almost $1 a barrel against Brent.

WTI gained 87 cents to a discount of $12.21 a barrel against Brent, the marker for international grades shipped to the U.S., after euro-area retail sales fell in February and a prediction by Maria van der Hoeven, executive director of the International Energy Agency, that oil demand will be “less than it was before” in the next few months.

When Brent drops versus WTI, it typically weakens the value of U.S. grades that compete with foreign crudes priced against Brent.

Heavy Louisiana Sweet’s premium to WTI weakened $1.40 to $15.75 a barrel at 12:06 p.m. in New York, according to data compiled by Bloomberg. Light Louisiana Sweet dropped 50 cents to trade at $15.50 over WTI.

Mars Blend’s premium to WTI dropped by 70 cents to $11.10 a barrel, while Poseidon lost $1.10 to $10.90 over the benchmark. The premium for Thunder Horse, which has a lower sulfur content than Mars and Poseidon, narrowed by 75 cents to $14.

Bakken crude delivered at Clearbrook, Minnesota, weakened 25 cents a barrel to a $1.25-a-barrel premium 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.