Bakken oil strengthened to a premium against West Texas Intermediate crude traded on the Nymex after Tesoro Corp. (TSO) said it was ahead of schedule in construction of a receiving terminal for the grade at its Washington refinery.
Bakken oil strengthened $3 to a $1 premium to WTI, according to data compiled by Bloomberg. That’s the first time since December that the grade has traded at a premium.
SEA Price at posting:
74.0¢ Sentiment: Buy Disclosure: Held