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Alon USA Partners, LP Message Board

  • kaps1992@att.net kaps1992 Nov 22, 2013 3:38 PM Flag

    WTI Futures Trading at over a $16 discount to Brent today.

    Great news for those long on ALDW. When is the last time the WTI discount to Brent has been this great?

    Sentiment: Strong Buy

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    • "When is the last time the WTI discount to Brent has been this great?"

      Not sure if that was a rhetorical question but the answer is about 6 months ago.

      Keep in mind that last time the Brent-WTI spread was this wide, LLS (Louisiana Light Sweet) was trading close to Brent. This time LLS is following WTI. It is the WTI-LLS spread that is a better estimator of refinery margins that Brent-WTI and unlike last time when the WTI-Brent and WTI-LLS were both at a wide spread, this time WTI-LLS is very close. That means the situation is nowhere near as favorable as you imply based on Brent-WTI.

 
ALDW
18.00-0.16(-0.88%)Sep 19 4:02 PMEDT

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