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Article: US Crude Margins Decline as Demand Sags.(Brief Article)(Statistical Data Included)
- Article from:
- The Oil Daily
- Article date:
- October 15, 2001
CopyrightCOPYRIGHT 2001 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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US Crude Margins Decline as Demand Sags
While most domestic grades in the US lost ground last week, main sour grade West Texas Sour (WTS) saw its differential boosted by reported purchases of the grade from a major buyer.
The domestic crude market also faces slackened local demand, with falling margins and government weekly data showing declining crude oil inputs.
WTS finished the week 20[cent] closer to the West Texas Intermediate (WTI) benchmark, at a discount of $1.65. A major buyer was reported to have bought the grade to cover a short position, according to traders.
However, WTS was the only grade that seemed to show any ...