Light Louisiana Sweet Oil Strengthens as WTI-Brent Spread Widens
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Light Louisiana Sweet strengthened relative to West Texas Intermediate after U.S. durable goods dropped more than forecast in July.
WTI’s discount to Brent, the European benchmark, widened to $4.81 a barrel as bookings for goods meant to last at least three years decreased 7.3 percent, the most since August 2012, the Commerce Department reported. The drop in durable-goods orders was bigger than the 4 percent decline forecast by economists surveyed by Bloomberg.