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.