Light Louisiana Sweet’s premium to domestic benchmark West Texas Intermediate fell with the arrival of the spot trading deadline for September.
Today was the last of three days that cash-market participants have to close their books for September, a period typically characterized by light volume and erratic pricing.
The premium for LLS fell 50 cents to $3 a barrel over WTI at 4:03 p.m. in New York, according to data compiled by Bloomberg. Heavy Louisiana Sweet’s premium weakened 35 cents to $2.90 a barrel.
Southern Green Canyon narrowed 15 cents to $2.75 a barrel below WTI. The discount for Mars Blend to WTI slipped by 10 cents to $2.10, while Thunder Horse dropped 25 cents to a $1-a-barrel premium to the U.S. benchmark.
The premium for West Texas Sour to WTI widened 10 cents to 15 cents a barrel.
Alaska North Slope crude and Bakken shale crude both fell 50 cents a barrel against WTI, to a $5 premium and a $5 discount, respectively.