Pipeline
Pipeline is a forum for readers to comment on news articles and exchange information on relevant topics. To post a comment, please login or create an account on the Disqus Continue Reading
Pipeline – Week of 11 November 2013
Question:
Gulf Crude Strengthens as China Economy Boosts Foreign Demand
Heavy Louisiana Sweet crude strengthened the most in more than three weeks as China ’s growth accelerated for the first time in three quarters, indicating stronger demand for waterborne oils. Heavy Louisiana Sweet’s premium to West Texas Intermediate rose $1.30 to a premium of $2.10 a barrel at 4:03 p.m., according to data compiled by Bloomberg. It would be the largest gain since Sept. 25. Gulf crudes including Heavy Louisiana Sweet compete with foreign oils priced against European benchmark Brent for space in U.S. refineries. Brent’s premium over WTI rose as high as $9.04 a barrel today, the highest intraday level since Oct. 14. Gross domestic product in China, the world’s largest oil-importing nation, rose 7.8 percent in the July-September period from a year earlier, the National Bureau of Statistics said today in Beijing. It’s the first time growth has accelerated in three quarters. The growth indicated higher demand […]