Latest Breaking News On - Louisiana sweet - Page 1 : comparemela.com

Prices for heavier crude oil along the U.S. Gulf Coast have climbed in recent weeks, trading at a rare near-par with lighter oil, a sign of supply tightness that could add to rising gasoline prices. Refineries along the Gulf Coast, which account for more than 55% of total U.S. refining capacity, are geared to run medium and heavy crudes which produce more diesel and jet fuel than lighter oil. Pushing up heavy crude prices are falling oil exports from Mexico, the potential for resumption of sanctions on Venezuelan crude, the imminent startup of a Canadian pipeline, and continued output cuts by the Organization of the Petroleum Exporting Countries and allies (OPEC+).

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