More US oil producers hedging with non-WTI crudes

newspumpjackoil

Rapidly changing price relationships between various North American crude oil grades have led oil producers to look more closely at hedging using regional benchmarks like Louisiana Light Sweet (LLS) and Western Canadian Select (WCS), and not just West Texas Intermediate (WTI), according to speakers at an oil conference in Houston. "The relationship between petroleum prices over the past few years has really broken down," said Andrew Steeves, a Houston-based commodity derivatives marketer with