As of June 22, the price spread for the lowest-priced Western Canada Select (WCS) and highest-priced Heavy Louisiana Sweet (HLS) crudes in the North and South American Heavy Crudes chart was $37.40/bbl. The crude price declines largely leveled off in early June, with several grades posting small upticks, before prices uniformly dropped again during the second half of the month. US benchmark West Texas Intermediate remained in the middle of the pack, while WCS secured the bottom position, separated by a large discount. The following chart shows price trends for heavy US, Canadian, and Mexican crudes from April 13 through June 22 2012. [Note: prices for Canadian Synthetic Crude and Western Canada Select have been converted from CAD to USD.]
As of June 22, the price spread for the lowest-priced (Arabian Heavy) and highest-priced (Brent) crudes in the European and Middle Eastern Heavy Crudes chart was $7.19/bbl. Crude prices posted a small uptick in early-to-mid-June, before resuming their downward spirals seen through the rest of the period. The following chart shows price trends for heavy European and Middle Eastern crudes from April 13 through June 22 2012. See chart on p17.