NEW YORK, Oct 9 (Reuters) - West Texas Intermediate oil for delivery at Midland, Texas, trade at a nine-month low on Wednesday of $2.00 a barrel under the benchmark front-month West Texas Intermediate contract on the New York Mercantile Exchange, traders said.
Differentials for the West Texas grade have dropped nearly $1.50 or just over 277 percent in value since major traders began unloading barrels in the cash market in late September.
West Texas Sour at Midland fell about 40 cents earlier in the day to trade at $3.65 a dollar under benchmark future but later rose to $3.25 a barrel, closing the spread with Midland sweet to $1.25 a barrel.
Light Louisiana Sweet started trading at $3.75 a barrel over futures but later fell to $3.30 a barrel, about 30 cents a barrel lower than Tuesday levels.
In the futures market, U.S. crude fell faster than Brent widening its discount against the international benchmark to $7.45 a barrel at settlement.
Brent fell $1.10 to settle at $109.06 per barrel while U.S. Crude fell $1.88 to $101.61 a barrel.