HOUSTON, Aug 4 - Heavy Louisiana Sweet HLS- led U.S. cash crudes higher on Tuesday, gaining $1.15 to sell for $2.80 a barrel over West Texas Intermediate CLc1.
Light Louisiana Sweet LLS- was 95 cents stronger, changing hands at WTI plus $4.05. Mars sour MRS- gained 65 cents to trade for 10 cents over WTI.
The surge came after Valero Energy Corp (VLO.N) on Monday announced restart of the crude distillation unit at its St. Charles refinery in Louisiana. [ID:nN03464674]
WTI futures spreads also weakened, which tends to boost physical crude differentials.
On futures markets, September WTI CLU9 lost 16 cents to $71.42 a barrel. September Brent LCOU9 rose 73 cents to $74.28.
The WTI front-month CL-1=R contango spread widened 28 cents to -$1.88. The WTI-Brent spread CL-LCO1=R gaped to -$2.86 from -$1.97 Monday.
Analysts cited profit-taking ahead of U.S. crude inventory reports and mixed economic news. [O/N]
Among other cash crudes, Thunder Horse THH- rose 70 cents to +$2.00. West Texas Sour WTS- added 15 cents to -$1.20. West Texas Intermediate at Midland WTM- stayed at -5 cents.
On the West Coast, Alaska North Slope crude ASW- for September dealt unchanged at 25 cents a barrel under WTI. October ANS sold for 10 cents less at -35 cents.
Buyers of California crudes cut posted prices 15 cents.
Light Louisiana Sweet LLS- was 95 cents stronger, changing hands at WTI plus $4.05. Mars sour MRS- gained 65 cents to trade for 10 cents over WTI.
The surge came after Valero Energy Corp (VLO.N) on Monday announced restart of the crude distillation unit at its St. Charles refinery in Louisiana. [ID:nN03464674]
WTI futures spreads also weakened, which tends to boost physical crude differentials.
On futures markets, September WTI CLU9 lost 16 cents to $71.42 a barrel. September Brent LCOU9 rose 73 cents to $74.28.
The WTI front-month CL-1=R contango spread widened 28 cents to -$1.88. The WTI-Brent spread CL-LCO1=R gaped to -$2.86 from -$1.97 Monday.
Analysts cited profit-taking ahead of U.S. crude inventory reports and mixed economic news. [O/N]
Among other cash crudes, Thunder Horse THH- rose 70 cents to +$2.00. West Texas Sour WTS- added 15 cents to -$1.20. West Texas Intermediate at Midland WTM- stayed at -5 cents.
On the West Coast, Alaska North Slope crude ASW- for September dealt unchanged at 25 cents a barrel under WTI. October ANS sold for 10 cents less at -35 cents.
Buyers of California crudes cut posted prices 15 cents.
