According to Gulf-News, the main domestic sweet grade on the U.S. cash crude market swung wildly yesterday following the transatlantic arbitrage, dealers said. Light Louisiana Sweet/St. James traded as low as 1 cent over the benchmark West Texas Intermediate/Midland before coming back up to 18 cents over. On Thursday, LLS was at a premium of 23/27 cents.
Heavy Louisiana Sweet/ Empire followed in the tracks of LLS, initially falling to WTI/Cushing minus 15 cents and then rebounding to minus 10 cents to flat. Thursday it was at flat to plus 6 cents.
WTI/Midland was valued at 29/26 cents under the benchmark, 1 cent below Thursday's values. WTI postings plus trade at $3.00 and was valued at $2.93/2.96 from $2.95/2.99 on Thursday.
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U.S. cash crudes mixed
The main domestic sweet grade on the U.S. cash crude market swung wildly...
