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Heavy Louisiana Sweet Strengthens as Brent Spread to WTI Widens

April 26 (Bloomberg) -- Heavy Louisiana Sweet oil rose against the benchmark West Texas Intermediate as Brent crude expanded its premium to WTI for the first time in five days.

WTI sold for a discount of $10.16 a barrel to Brent based on settlement prices versus $9.77 yesterday, according to data compiled by Bloomberg. The spread went under $10 this week for the first time since January 2012.

HLS gained 20 cents to $11.60 a barrel over WTI at 2:07 p.m. in New York, according to data compiled by Bloomberg. Light Louisiana Sweet’s premium to WTI lost 75 cents to $11.

Poseidon’s premium weakened 25 cents to $6.10 a barrel. Southern Green Canyon lost $1.15 a barrel to a $4.85 premium. Mars Blend was unchanged at $6.50 a barrel over the benchmark.

The premium for Thunder Horse, which has a lower sulfur content than Mars, Poseidon and Southern Green Canyon, traded up 10 cents a barrel at $8.70.

Premiums for Eugene Island crude and Bonito Sour strengthened 10 cents and 20 cents, respectively, to trade at $8.70 over WTI.

Bakken was unchanged at a discount of $3.50 a barrel against 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

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