Light Louisiana Sweet Weakens Amid Thin End-of-Month TradingEliot Caroom
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.