US Gulf Coast cash crudes recover from record lows

摘要

On March 30,all of the US grades covered here plunged to lows never before seen in Reuters data.For LLS,HLS,WTI at Midland,and WTS,the data goes back to Jan.or March 1986;for Mars,it goes back to May 2001;and for WTI priced at the Magellan East Houston terminal(MEH)in Texas,it goes back to Dec.2016.WTS saw the lowest of the lows on Monday,sinking to just 60￠/bbl,but it posted the sharpest recovery over the week ending April 3,gaining $15.13/bbl to end at $20.36/bbl.HLS(priced at Empire,Louisiana)increased by $14.38/bbl to end at $20.36/bbl after hitting $4.10/bbl on Monday.WTI priced at Midland rose by $14.13/bbl over the week to hit $22.36/bbl after touching $4.60/bbl on Monday.Mars gained $14.83/bbl to end the week at $24.61/bbl after reaching $5.60/bbl on Monday.LLS(priced at St.James,LA)increased by $12.13/bbl to $23.11/bbl after hitting $5.85/bbl on Monday.MEH gained $14.38/bbl to end the week at $25.86/bbl after touching $8.10/bbl on Monday.The discount on WTI futures to Brent futures widened by $2.35/bbl to $5.77/bbl,but the bearish sentiment pervading the overall energy market is likely to limit interest in the grades outside of some bargain hunting.