Gulf Oils Strengthen as Refiners Boost Runs Most Since September
Spot crude in the U.S. Gulf Coast strengthened as refiners in the area boosted crude input the most since September.
Crude inputs to Padd 3 refineries increased by 283,000 barrels a day to 7.36 million in the week ended Jan. 25, Energy Information Administration data showed today. That’s the largest weekly increase since the week ended Sept. 14.
Light Louisiana Sweet oil strengthened 30 cents to a premium of $17.80 over West Texas Intermediate oil in Cushing, Oklahoma, at 11:56 a.m. New York time, according to data compiled by Bloomberg. Heavy Louisiana Sweet oil widened its premium 50 cents to $17.90.
Mars Blend strengthened 65 cents to a $12.90-a-barrel premium over the U.S. benchmark. Poseidon’s premium gained 45 cents to $12.70 a barrel. Southern Green Canyon’s rose 70 cents to $12.70, and Thunder Horse added 35 cents to bring its premium to $14.75.
In Alberta, Western Canada Select weakened 25 cents to a discount of $32 a barrel to WTI. Syncrude also weakened 25 cents, bringing its premium to WTI down to 75 cents a barrel.
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