U.S. Cash Crude - Sours plunge, sweets rise in roll

Thu Mar 20, 2008 10:37pm GMT
 
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 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.
 .............
 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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