Saturday, November 16, 2013

Update On Pricing; Bakken Crude Trading At Almost $15 Under US Benchmarks

It's frustrating that Bloomberg quit posting Bakken spot some time ago. I still have the link on my "data links" page, but the data is no longer there. One can get it by subscription.

But, occasionally one finds an update. Clearbrook Newswire is reporting:
Oil production in North Dakota, home to the giant Bakken shale oil formation, rose to 932,000 barrels per a day (bpd) in September, data from the state's Department of Mineral Resources showed on Friday.
Bakken crude at the Clearbrook, Minnesota, hub traded at $13.75 under the benchmark U.S. crude futures on Friday.

So, if NYMEX/WTI was trading for about $93.75 yesterday, I guess Bakken at Clearbrook was trading for $80.  
If one can find it, "Bakken spot" is the price at Clearbrook. There has been talk of a new "Bakken spot" in the Philadelphia area with the "new" refineries there taking Bakken crude (previously posted; reported by RBN Energy).

Here are the numbers for November 13, 2013:
  • Light Louisiana Sweet (LLS): $2.70 to $3.50 over the benchmarck (I assume NYMEX/WTI)
  • Heavy Louisiana Sweet (HLS): $3.15 over
  • West Texas Intermediate/Midland (WTM): $4.50 over
  • Bakken/Clearbrook: $13.50 under
  • West Texas Sour (WTS)/Midland: $6 under
  • Mars sour (MRS): $2 under
  • Eugene Island sour (EUI): even
  • Bonito sour (BS): even
  • Southern Green Canyon sour (SGC): $5.50 under
  • Thunder Horse sour (THH): $1.40 over
Reuters also noted:
U.S. cash crude differentials did not receive a boost from the wider spread between Brent and U.S. crude futures. In recent years, the differentials, especially for LLS and other sweet grades on the Gulf Coast, would strengthen as Brent's premium to U.S. futures gained. Brent's premium to U.S. crude futures increased to $13.24 a barrel on Wednesday.
The US benchmark is determined at Cushing. The WTI-Bakken differential is the Cushing-Clearbrook differential.


  1. Bakken Crude oil spot is currently trading at $79.04

    1. That sounds about right; about $13 under NYMEX/WTI. Thank you.