July 25, 2012 / 9:43 PM / 5 years ago

U.S. cash crudes mixed on final roll-trade day

 NEW YORK, July 25 (Reuters) - U.S. cash crude grade
differentials were mixed on Wednesday in the final day of
monthly roll trade, with offshore crudes LLS and Mars both
firming.
 U.S. front-month futures, for September, gained 47 cents to
settle at $88.97 per barrel, while European Brent rose to
97 cents a barrel to settle at $104.38. 
 Brent's sharper rise widened the transatlantic crude spread
to $15.41 a barrel, up from around $15 per barrel on Tuesday. 
 Roll trade for August delivery cash crudes ended Wednesday.
During the three-day roll period traders often scramble to buy
or sell cargoes before a monthly pipeline booking deadline. 
 Louisiana Light Sweet LLS- traded at $17.50 a barrel over
West Texas Intermediate on Wednesday, up 40 cents a
barrel from Tuesday. 
 Mars sour blend MRS- traded by as much as $10.20 a barrel
over WTI, up from as much as $9.60 per barrel over WTI on
Tuesday.
 Thunder Horse THH- was weaker, trading for $11.30 above
WTI, down from $11.75 above WTI on Tuesday.
 WTI at Midland WTM- traded for $1.25 a barrel below WTI,
down from 70 cents below on Tuesday.  


 (Reporting By New York Energy Desk)
 

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