HOUSTON, Oct 8 (Reuters) - U.S. cash crude differentials strengthened Thursday as the front-month spread for West Texas Intermediate futures weakened.
Light Louisiana Sweet rose 20 cents to sell for 60 cents a barrel over WTI. Mars sour dealt up 35 cents at $3.85 under the screen.
Southern Green Canyon sour, a lower grade than Mars, climbed 25 cents to $3.75 under the screen, stronger than Mars and its lookalike Poseidon, up 45 cents at minus $3.80.
SGC has traded strongly for several days, and traders said it has direct pipeline access to Houston area refiners and faces less import competition than Louisiana-based Mars and Poseidon.
On futures markets, November WTI rose $2.12 to $71.69 a barrel. November Brent gained $2.57 to $69.77. Analysts cited economic optimism and a weaker dollar.
Among other cash grades, light sours were stronger, with Bonito up 10 cents to $1.30 under WTI. Thunder Horse rose 45 cents to minus $1.35.
In the Midcontinent, West Texas Sour strengthened 35 cents to deal at $2.75 under the screen. WTI at Midland sold for -41 cents, in the range of bargaining Wednesday.
On the West Coast, Alaska North Slope crude sold for $1.70 under the screen in three deals for December delivery in the most recent publicly disclosed deal on Tuesday.
California crude buyers raised posted prices $2.10 after the move in WTI futures. --------------------------------------------------------------
See for Reuters' generic refining margins
See for the WTI front/second month spread
See for front month WTI/Brent futures spread
See for Reuters' assessment of Dated Brent
See for Reuters assessed tanker rates
See for assessed domestic crude differentials
See for outright U.S. cash crude prices
See for a list of U.S. refinery outages
See for U.S. EIA inventory reports and forecasts
See for recent cash crude deals --------------------------------------------------------------
(Reporting by Bruce Nichols; Editing by David Gregorio)
((Email: b.nichols@thomsonreuters.com; +1 713 210 8510; Reuters Messaging: bruce.nichols.reuters.com@reuters.net)) Keywords: MARKETS USCRUDE (For help: Click 'Contact Us' in your desk top, click here or call 1-800-738-8377 for Reuters Products and 1-888-463-3383 for Thomson products; For client training: training.americas@thomsonreuters.com ; +1 646-223-5546) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Light Louisiana Sweet rose 20 cents to sell for 60 cents a barrel over WTI. Mars sour dealt up 35 cents at $3.85 under the screen.
Southern Green Canyon sour, a lower grade than Mars, climbed 25 cents to $3.75 under the screen, stronger than Mars and its lookalike Poseidon, up 45 cents at minus $3.80.
SGC has traded strongly for several days, and traders said it has direct pipeline access to Houston area refiners and faces less import competition than Louisiana-based Mars and Poseidon.
On futures markets, November WTI rose $2.12 to $71.69 a barrel. November Brent gained $2.57 to $69.77. Analysts cited economic optimism and a weaker dollar.
Among other cash grades, light sours were stronger, with Bonito up 10 cents to $1.30 under WTI. Thunder Horse rose 45 cents to minus $1.35.
In the Midcontinent, West Texas Sour strengthened 35 cents to deal at $2.75 under the screen. WTI at Midland sold for -41 cents, in the range of bargaining Wednesday.
On the West Coast, Alaska North Slope crude sold for $1.70 under the screen in three deals for December delivery in the most recent publicly disclosed deal on Tuesday.
California crude buyers raised posted prices $2.10 after the move in WTI futures. --------------------------------------------------------------
See for Reuters' generic refining margins
See for the WTI front/second month spread
See for front month WTI/Brent futures spread
See for Reuters' assessment of Dated Brent
See for Reuters assessed tanker rates
See for assessed domestic crude differentials
See for outright U.S. cash crude prices
See for a list of U.S. refinery outages
See for U.S. EIA inventory reports and forecasts
See for recent cash crude deals --------------------------------------------------------------
(Reporting by Bruce Nichols; Editing by David Gregorio)
((Email: b.nichols@thomsonreuters.com; +1 713 210 8510; Reuters Messaging: bruce.nichols.reuters.com@reuters.net)) Keywords: MARKETS USCRUDE (For help: Click 'Contact Us' in your desk top, click here or call 1-800-738-8377 for Reuters Products and 1-888-463-3383 for Thomson products; For client training: training.americas@thomsonreuters.com ; +1 646-223-5546) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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