U.S. Gulf Cash Crude Grades Strengthen as Nymex Contango Widens
U.S. Gulf crudes strengthened as the the gap between benchmark West Texas Intermediate for delivery in January versus February delivery widened.
The discount for January futures versus February widened 17 cents to 53 cents a barrel at 2:33 p.m. on the New York Mercantile Exchange.
Thunder Horse’s premium to WTI widened 20 cents to $2.50 a barrel. Light Louisiana Sweet’s premium widened 5 cents to $4.85 a barrel.
West Texas Sour’s discount narrowed 5 cents to $2.55 a barrel. Poseidon’s discount to WTI widened 20 cents to $1.20, and Mars Blend’s discount narrowed 10 cents to a 25 cents. Southern Green Canyon’s discount widened 10 cents to $1.50.
Heavy Louisiana Sweet’s premium narrowed 30 cents to $3.70 a barrel.
The discount for Western Canada Select versus the WTI benchmark widened $1.55 to $18. The discount for Syncrude, a light, low-sulfur synthetic oil derived from the tar sands in Alberta, widened 55 cents to $2.65 a barrel.
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