HOUSTON, Aug 25 (Reuters) - U.S. cash crude strengthened Thursday in quiet trading on the first day of cash deals with October as the West Texas Intermediate front month.
Light Louisiana Sweet sold for $3.40 a barrel over WTI, 30 cents stronger than on Wednesday. Mars sour dealt for $2.05 under, up 55 cents.
For other cash crude deals, see.
The moves came as front-month WTI weakened sharply against second-month WTI and against North Sea Brent. Weaker front-month WTI tends to strengthen cash crude differentials.
October WTI became the futures front month last Friday but cash traders are allowed to trade against September WTI until the pipeline-scheduling deadline, which was Wednesday.
The so-called 'roll' trade allows traders time to complete shipping arrangements for one month turning to trading for the next month.
On futures markets, October WTI gained 84 cents to $73.36 a barrel. October Brent climbed $1.54 to $75.02.
The WTI-Brent spread widened to $1.66 in favor of Brent from 96 cents Wednesday. The WTI calendar spread also widened 14 cents to 86 cents in favor of November.
Alaska North Slope crude was last announced selling Tuesday for $1.35 a barrel under WTI for October delivery.
California crude buyers raised their posted prices 85 cents a barrel.
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 for $3.40 a barrel over WTI, 30 cents stronger than on Wednesday. Mars sour dealt for $2.05 under, up 55 cents.
For other cash crude deals, see.
The moves came as front-month WTI weakened sharply against second-month WTI and against North Sea Brent. Weaker front-month WTI tends to strengthen cash crude differentials.
October WTI became the futures front month last Friday but cash traders are allowed to trade against September WTI until the pipeline-scheduling deadline, which was Wednesday.
The so-called 'roll' trade allows traders time to complete shipping arrangements for one month turning to trading for the next month.
On futures markets, October WTI gained 84 cents to $73.36 a barrel. October Brent climbed $1.54 to $75.02.
The WTI-Brent spread widened to $1.66 in favor of Brent from 96 cents Wednesday. The WTI calendar spread also widened 14 cents to 86 cents in favor of November.
Alaska North Slope crude was last announced selling Tuesday for $1.35 a barrel under WTI for October delivery.
California crude buyers raised their posted prices 85 cents a barrel.
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.