Crude: ARGUS LLS price assessment

Crude: ARGUS LLS price assessment

The ARGUS LLS price assessment

In spite of the expected reversal of the 1.1mn b/d Capline pipeline between St. James, Louisiana and Patoka, Illinois, the Argus LLS crude price assessment continues to reflect active trade of light crude at St. James. Argus includes trade done at all major St. James terminals in its LLS index price formation.

Advantages of the ARGUS LLS price assessment

The rise of Permian light sweet crude production has led much of the market to adopt Argus WTI Houston as the primary light sweet physical price benchmark for the Gulf coast. But LLS continues to be an important price. First, LLS is now an export crude, and international buyers of LLS find it helpful to have an LLS index price and financial contract settling on the Argus LLS price. Second, new pipelines from Cushing and from east Texas to St. James will ensure that there is a steady flow of light crude for blending into LLS. And finally, the industry-accepted quality specifications for LLS make it an important price marker for light crude in Louisiana.

Users of the ARGUS LLS price assessment

The Argus LLS crude price assessment is useful for buyers or sellers of domestic light sweet crude on the US Gulf coast and for international buyers of light crude in Louisiana. It can be helpful in refinery models, internal transfer pricing, the pricing of term contracts and analysis.

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