U.S. Gulf Coast Oils Strengthen as WTI-Brent Spread Widens
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Most U.S. Gulf oils strengthened or were unchanged as West Texas Intermediate widened its discount to Brent crude oil for the first time in eight trading days.
The spread between February-delivery futures for the U.S. benchmark and Brent, the basis for European and West African crudes, rose to $8.21 a barrel at 2:23 p.m. in New York from $7.93 yesterday.