HOUSTON, Feb 24 (Reuters) - Eugene Island light sour was the biggest gainer, Poseidon deepwater sour the biggest loser in a mixed second day of roll trade on the U.S. cash crude market Wednesday.
Eugene Island gained 35 cents to sell for $1.80 a barrel under West Texas Intermediate. Poseidon shed 30 cents to sell for $3.10 a barrel under WTI.
Light Louisiana Sweet gained 10 cents to 90 cents over the screen. West Texas Sour. Mars deepwater sour sold unchanged at $3.20 under but bid-asks were a fraction stronger by day's end.
For other cash crude deals, see.
For cash traders, roll period is the three days between futures expiry and the pipeline-scheduling deadline. For futures traders, roll is the price paid prior to pipeline scheduling to roll a contract into the next month without delivering oil on it.
Roll period trade for cash traders can be volatile, as most traders are finished for the month and a few buyers trying to close gaps in their monthly slates can move differentials a lot. But crude demand is weak, so there has been little volatility.
On futures markets, April WTI rose $1.14 to $80 a barrel. April Brent climbed 84 cents to $78.09. Analysts cited a weaker dollar and Federal Reserve Chairman Ben Bernanke's saying interest rates should remain low .
Alaska North Slope crude for April sold 25 cents weaker at 75 cents under WTI Wednesday. Buyers raised posted prices for California crudes $1.15 a barrel.
(Reporting by Bruce Nichols; Editing by Lisa Shumaker)
((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 2010. 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.
Eugene Island gained 35 cents to sell for $1.80 a barrel under West Texas Intermediate. Poseidon shed 30 cents to sell for $3.10 a barrel under WTI.
Light Louisiana Sweet gained 10 cents to 90 cents over the screen. West Texas Sour. Mars deepwater sour sold unchanged at $3.20 under but bid-asks were a fraction stronger by day's end.
For other cash crude deals, see.
For cash traders, roll period is the three days between futures expiry and the pipeline-scheduling deadline. For futures traders, roll is the price paid prior to pipeline scheduling to roll a contract into the next month without delivering oil on it.
Roll period trade for cash traders can be volatile, as most traders are finished for the month and a few buyers trying to close gaps in their monthly slates can move differentials a lot. But crude demand is weak, so there has been little volatility.
On futures markets, April WTI rose $1.14 to $80 a barrel. April Brent climbed 84 cents to $78.09. Analysts cited a weaker dollar and Federal Reserve Chairman Ben Bernanke's saying interest rates should remain low .
Alaska North Slope crude for April sold 25 cents weaker at 75 cents under WTI Wednesday. Buyers raised posted prices for California crudes $1.15 a barrel.
(Reporting by Bruce Nichols; Editing by Lisa Shumaker)
((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 2010. 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.