Houston-A shortage of heavy crude for blending on the Gulf Coast drove up the price of West Texas Sour crude coming out of the Permian Basin in May, even putting it at a premium to West Texas Intermediate for nearly a week. WTS Midland entered May at $43.97/b, 98 cents/b under WTI Midland, according to Platts assessments. That discount flipped to a premium on May 20, though, and peaked at $49.43/b, 95 cents/b over the WTI Midland assessment, on May 25. It reverted to a discount the next day. The shortage came as shipments of Canadian crude tapered off because of wildfires near Fort McMurray, Alberta.
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