U.S. Cash Crude - Sours plunge, sweets rise in roll
HOUSTON, March 20 (Reuters) - Sours dove but sweets rose on the U.S. cash crude market Thursday as a Houston-area refinery shutdown added to volatility on the first day of roll trade.
Business was slow and focused on end-of-the-month book-balancing after expiration of April West Texas Intermediate futures Wednesday on the New York Mercantile Exchange, traders said.
Poseidon medium sour PSD- sold for $10 a barrel under West Texas Intermediate CLc1, weaker by $1.25.
Mars MRS- bargained $1.30 weaker at -$10.40/-$9.50. Southern Green Canyon sour SGC- was discussed at -$12.50/-$11.50, down $1.50.
Trade sources said the 270,000-barrel-per-day Lyondell refinery at Houston, which uses sour, faced five days of repairs on its 100,000 bpd fluid catalytic cracking unit.
Light Louisiana Sweet LLS- gained 40 cents, selling as high as $1.85 in a box that included May LLS at +$2.70. Another May LLS deal was priced at +$2.55 later in the day.
Competing imports were more costly as the WTI-Brent spread <CL-LCO1=R> narrowed 15 cents to +$1.47. May WTI CLK8 lost 70 cents to $101.84. May Brent LCOK8 fell 34 cents to $100.38.
Among other cash grades, Heavy Louisiana Sweet HLS- sold for +$1.00 early but fell back to +70 cents, unchanged. WTI Midland WTM- stayed at -55 cents.
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DATA LINKS: Energy Speed Guide ENERGY Crude Speed Guide <CRUDES/1> NYMEX WTI futures <0#CL:> ICE Brent futures <0#LCO:> US crude prices PPGR US crude differentials BRNV Freight rates <0#FRT-> NEWS LINKS: NYMEX Market reports [O/N] ICE market reports [O/L] US Cash crude deals [CRU/TU] Foreign crude deals [CRU/T] Dirty tanker news [TAN/CRU] Dirty tanker fixtures [TAN/D] Weekly US oil data [EIA/S] US crude outlook [US/CRU] US Refinery outages [REF/US] US Cash oil products [PRO/U] US products outlook [US/PRO] ............... (Reporting by Bruce Nichols; Editing by Christian Wiessner)
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