NEW YORK, June 5 (Reuters) - U.S. cash crude differentials
mostly weakened Friday as time spreads remained flat and oil
futures fell.
Light Louisiana Sweet sold for $1.65 a barrel over West Texas Intermediate, down 25 cents. Mars sour fell 5 cents to $1.60 under WTI.
WTI futures fell 46 cents a barrel to $68.35 as traders took profits after prices touched a seven-month high earlier Friday, following a U.S. employment report that showed the pace of U.S. job losses slowed in May.
Time spreads were flat, with front-month U.S. oil futures trading at an 88 cent a barrel discount to futures for second-month delivery after settlement, unchanged from Thursday. A stronger front-month usually weakens differentials.
July Brent fell 39 cents to $68.31 a barrel. WTI's advantage over Brent fell to 5 cents a barrel from 10 cents on Thursday. Stronger WTI can weaken U.S. cash crudes since it can encourage more imports of foreign grades.
Among other cash grades, Bonito sour traded down 10 cents, even with WTI. Thunder Horse sold for -50 cents, down 20 cents from its most recent publicly disclosed trade on Wednesday.
West Texas Sour changed hands for -$1.55, even with Thursday's prices. WTI at Midland sold for -40 cents, up 10 cents.
On the West Coast, Alaskan North Slope crude for August delivery sold up 5 cents for 30 cents under WTI. The last Alaskan July deal was done Monday at 25 cents under.
Buyers lowered posted prices for California crude by 35 cents a barrel. ==========================================================
DATA LINKS: Energy Speed Guide Crude Speed Guide NYMEX WTI futures ICE Brent futures US crude prices US crude differentials Freight rates
NEWS LINKS: NYMEX Market reports ICE market reports US Cash crude deals Foreign crude deals Dirty tanker news Dirty tanker fixtures Weekly US oil data US crude outlook US Refinery outages US Cash oil products US products outlook ...........................................................
(Reporting by Joshua Schneyer)
((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 sold for $1.65 a barrel over West Texas Intermediate, down 25 cents. Mars sour fell 5 cents to $1.60 under WTI.
WTI futures fell 46 cents a barrel to $68.35 as traders took profits after prices touched a seven-month high earlier Friday, following a U.S. employment report that showed the pace of U.S. job losses slowed in May.
Time spreads were flat, with front-month U.S. oil futures trading at an 88 cent a barrel discount to futures for second-month delivery after settlement, unchanged from Thursday. A stronger front-month usually weakens differentials.
July Brent fell 39 cents to $68.31 a barrel. WTI's advantage over Brent fell to 5 cents a barrel from 10 cents on Thursday. Stronger WTI can weaken U.S. cash crudes since it can encourage more imports of foreign grades.
Among other cash grades, Bonito sour traded down 10 cents, even with WTI. Thunder Horse sold for -50 cents, down 20 cents from its most recent publicly disclosed trade on Wednesday.
West Texas Sour changed hands for -$1.55, even with Thursday's prices. WTI at Midland sold for -40 cents, up 10 cents.
On the West Coast, Alaskan North Slope crude for August delivery sold up 5 cents for 30 cents under WTI. The last Alaskan July deal was done Monday at 25 cents under.
Buyers lowered posted prices for California crude by 35 cents a barrel. ==========================================================
DATA LINKS: Energy Speed Guide Crude Speed Guide NYMEX WTI futures ICE Brent futures US crude prices US crude differentials Freight rates
NEWS LINKS: NYMEX Market reports ICE market reports US Cash crude deals Foreign crude deals Dirty tanker news Dirty tanker fixtures Weekly US oil data US crude outlook US Refinery outages US Cash oil products US products outlook ...........................................................
(Reporting by Joshua Schneyer)
((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.