Jan. 9 (Bloomberg) -- The premium for Heavy Louisiana Sweet oil over Light Louisiana Sweet crude widened to the largest margin in more than two weeks.
The gap between the two oils increased 20 cents to $1.50 at 2:24 p.m. in New York, according to data compiled by Bloomberg. That’s the largest margin between the two grades since Dec. 23.
Light Louisiana Sweet’s premium to West Texas Intermediate lost 20 cents to $11.50 a barrel. Heavy Louisiana Sweet’s premium was unchanged at $13 over the U.S. benchmark.
Heavy oils typically produce a larger proportion of distillate fuels and less gasoline than light oils. Ultra low sulfur diesel in the U.S. Gulf rose 0.1 cent to $3.0537 a gallon, while 87-octane unleaded was 1.54 cents higher at $2.717.
Thunder Horse’s premium increased $1.45 to $12.45. Mars Blend added 50 cents to $9 over WTI. Poseidon’s premium widened 50 cents to $8.75 a barrel.
Southern Green Canyon gained $1 to $8 over WTI. West Texas Sour’s discount widened 20 cents to $2.30 a barrel.
Syncrude weakened 75 cents to a $2.50 a barrel discount compared to WTI. Syncrude is a light, low-sulfur synthetic oil derived from the tar sands in Alberta.
Western Canada Select’s discount to WTI widened by 35 cents to $18.25 a barrel.
--Editors: David Marino, Bill Banker
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