HOUSTON, June 29 (Reuters) - U.S. cash crudes edged higher in slow trading Tuesday as traders awaited August buying instructions and watched oil futures and equity markets plunge.
Light Louisiana Sweet sold 20 cents stronger at $2.95 a barrel over WTI. Mars sour dealt 35 cents stronger at $1.60 under WTI.
For other cash crude deals, see.
WTI front-month and WTI-Brent spreads were little changed, and the first week of a new cash trading month typically starts slowly, so there was no rush to buy as outright prices fell.
The American Petroleum Institute's weekly inventory figures showed drops in crude and gasoline and a build in distillates, but most analysts awaited government figures Wednesday.
On futures markets, August WTI lost $2.31 to $75.94 a barrel. August Brent shed $2.15 to close at $75.44. Analysts cited concerns that economic recovery might falter.
Alaska North Slope crude oil traded for 35 cents over WTI for August delivery in the last announced deal Monday.
Buyers cut posted prices for California crudes $2.30 a barrel in line with the move in front-month WTI.
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 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.
Light Louisiana Sweet sold 20 cents stronger at $2.95 a barrel over WTI. Mars sour dealt 35 cents stronger at $1.60 under WTI.
For other cash crude deals, see.
WTI front-month and WTI-Brent spreads were little changed, and the first week of a new cash trading month typically starts slowly, so there was no rush to buy as outright prices fell.
The American Petroleum Institute's weekly inventory figures showed drops in crude and gasoline and a build in distillates, but most analysts awaited government figures Wednesday.
On futures markets, August WTI lost $2.31 to $75.94 a barrel. August Brent shed $2.15 to close at $75.44. Analysts cited concerns that economic recovery might falter.
Alaska North Slope crude oil traded for 35 cents over WTI for August delivery in the last announced deal Monday.
Buyers cut posted prices for California crudes $2.30 a barrel in line with the move in front-month WTI.
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 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.