HOUSTON, July 10 (Reuters) - Heavy Louisiana Sweet
led U.S. cash crudes higher Friday, and traders said some
buyers may be replacing Nigerian imports threatened by rebels.
HLS, which is similar to Nigerian grades affected by attacks this week, strengthened 55 cents to $1.65 a barrel over West Texas Intermediate, up $1.00 since Monday.
Nigeria's Movement for the Emancipation of the Niger Delta (MEND) this week sabotaged several pipelines, and oil flows have been reduced 300,000 barrels in recent weeks. .
Bonito light sour and Thunder Horse intermediate also strengthened while Light Louisiana Sweet and Mars sour rose and fell, reacting to spreads.
On futures markets, August WTI fell 52 cents to $59.89 a barrel. August Brent retreated 58 cents to $60.52.
The WTI front-month spread gyrated from -87 cents to -$1.21 then ended at -99 cents, and the WTI-Brent spread ranged from -97 and -42 cents, finishing at -63 cents.
Cash LLS sold for +$2.20 but fell back to bargain at $2.00/$2.15, ending 15 cents stronger. Mars sour traded as high as -$1.95, then ended at -$2.20/-$2.00, up 10 cents, traders said.
Bonito rose 25 cents to 45 cents over WTI and stayed despite gyrating spreads. Thunder Horse sold for +60 cents, 10 cents higher than day-earlier offers and up 80 cents since Wednesday.
Traders have said Bonito and Thunder Horse are in greater demand because newly flowing Tahiti production is flowing into the rival Eugene Island stream, degrading its quality.
On the West Coast, Alaska North Slope crude for August sold even with WTI in the last disclosed deal Wednesday.
Buyers cut posted prices for California crude 50 cents, in line with the slide in WTI.
==========================================================
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 Bruce Nichols; Editing by Christian Wiessner)
((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.
HLS, which is similar to Nigerian grades affected by attacks this week, strengthened 55 cents to $1.65 a barrel over West Texas Intermediate, up $1.00 since Monday.
Nigeria's Movement for the Emancipation of the Niger Delta (MEND) this week sabotaged several pipelines, and oil flows have been reduced 300,000 barrels in recent weeks. .
Bonito light sour and Thunder Horse intermediate also strengthened while Light Louisiana Sweet and Mars sour rose and fell, reacting to spreads.
On futures markets, August WTI fell 52 cents to $59.89 a barrel. August Brent retreated 58 cents to $60.52.
The WTI front-month spread gyrated from -87 cents to -$1.21 then ended at -99 cents, and the WTI-Brent spread ranged from -97 and -42 cents, finishing at -63 cents.
Cash LLS sold for +$2.20 but fell back to bargain at $2.00/$2.15, ending 15 cents stronger. Mars sour traded as high as -$1.95, then ended at -$2.20/-$2.00, up 10 cents, traders said.
Bonito rose 25 cents to 45 cents over WTI and stayed despite gyrating spreads. Thunder Horse sold for +60 cents, 10 cents higher than day-earlier offers and up 80 cents since Wednesday.
Traders have said Bonito and Thunder Horse are in greater demand because newly flowing Tahiti production is flowing into the rival Eugene Island stream, degrading its quality.
On the West Coast, Alaska North Slope crude for August sold even with WTI in the last disclosed deal Wednesday.
Buyers cut posted prices for California crude 50 cents, in line with the slide in WTI.
==========================================================
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 Bruce Nichols; Editing by Christian Wiessner)
((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.