HOUSTON, March 5 (Reuters) - Discounts for U.S. cash crudes deepened Friday as West Texas Intermediate futures climbed in the face of largely unchanged supply-and-demand fundamentals.
Mars sour shed 30 cents to $4.45 a barrel under WTI . Thunder Horse lighter sour slid 15 cents to $1.70 under the screen.
Sweets, weak already, were largely unchanged. Light Louisiana Sweet sold up 5 cents at WTI plus 75 cents, and Heavy Louisiana Sweet dealt down 5 cents at WTI minus 30 cents.
'There's plenty of crude out there,' an analyst said.
Cash crude differentials tend to lag moves up and down in the futures prices against which they are measured, steadying the part of the oil market in which actual barrels change hands.
For other cash crude deals, see {CRU/TU].
On futures markets, April WTI gained $1.29 to $81.50 a barrel. April Brent rose $1.35 to $79.89. Spreads were virtually unchanged.
Analysts credited optimism about the economy triggered by a better-than-expected government jobs report.
Alaska North Slope crude oil last traded Wednesday for $1.35 a barrel under the screen.
Buyers raised posted prices for California crudes $1.30 a barrel.
(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 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.
Mars sour shed 30 cents to $4.45 a barrel under WTI . Thunder Horse lighter sour slid 15 cents to $1.70 under the screen.
Sweets, weak already, were largely unchanged. Light Louisiana Sweet sold up 5 cents at WTI plus 75 cents, and Heavy Louisiana Sweet dealt down 5 cents at WTI minus 30 cents.
'There's plenty of crude out there,' an analyst said.
Cash crude differentials tend to lag moves up and down in the futures prices against which they are measured, steadying the part of the oil market in which actual barrels change hands.
For other cash crude deals, see {CRU/TU].
On futures markets, April WTI gained $1.29 to $81.50 a barrel. April Brent rose $1.35 to $79.89. Spreads were virtually unchanged.
Analysts credited optimism about the economy triggered by a better-than-expected government jobs report.
Alaska North Slope crude oil last traded Wednesday for $1.35 a barrel under the screen.
Buyers raised posted prices for California crudes $1.30 a barrel.
(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 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.