Light Louisiana Sweet Strengthens as WTI Slips Against Brent
Light Louisiana Sweet strengthened against West Texas Intermediate as the U.S. benchmark lost ground to Brent, while other oils produced on the Gulf Coast were mixed.
WTI’s discount to its European counterpart widened by 54 cents to $7.68 a barrel, according to data compiled by Bloomberg, with both oils’ outright prices falling as U.S. officials consider action in Syria. When WTI weakens to Brent, which is used to price foreign crudes, it can raise the value of domestic oils competing for space in Gulf Coast refineries.
LLS gained 10 cents a barrel against WTI to a premium of $4.30 at 1:53 p.m. in New York, data compiled by Bloomberg show.
Heavy Louisiana Sweet strengthened 30 cents a barrel to a premium of $5.30. The premium for Thunder Horse gained 40 cents to $2.90 a barrel, while Mars Blend fell 16 cents to a premium of 25 cents over WTI.
Poseidon rose 20 cents to a discount of 25 cents.
Bakken crude from North Dakota fell 25 cents to a discount of $5.75 a barrel to WTI.
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