Sweet grades weaken

摘要

Hopes that the US economy is stabilising lent some support to crude prices,but this was offset by high oil stocks and low refinery throughputs.Atlantic basin marker North Sea Dated rose by Sl/bl to S51.92/bl from 2 April,while US marker front-month WTI fell by 2.66,'bl to S49.98/bl.A narrowing transatlantic arbitrage contributed to higher offers for foreign sweet crudes in the US Gulf.This prompted offers for May Louisiana Light Sweet to move higher.US domestic crudes have strengthened as May WTI discounts to June WTI have widened.But crude stockdraws at Gushing,Oklahoma,the WT] delivery point,prevented May WTI from losing too much ground.