U.S. cash crude-Brent pulls up U.S. cash crudes

* Louisiana Light trades up 5 cents for November

* December LLS also trades

NEW YORK, Nov 2 (BestGrowthStock) – U.S. cash crudes gained on
Tuesday on a tightening in the spread between Brent and WTI as
global oil inventories are seen drawing down, traders said on
Thursday.

The Brent-to-WTI spread (CL-LCO1=R: ) has come in to 93 cents
in favor of Brent from $1.70 late last month. The spread
between December and January WTI narrowed to 65 cents, with
several trades of both HLS and LLS seen done.

“Both of those suggest grades should be weaker as traders
currently favor WTI but that’s not happening at the moment,”
said one cash crude trader.

“But I think it will do so not too far down the road.”

Light Louisiana Sweet (WTC-LLS: ) traded several times up 10
cents at $3.40 a barrel for November before slipping back to
trade at $3.35. It is the most direct competitor to Brent of
the U.S. Gulf crudes.

Several trades of December LLS were done at $2.95 a barrel,
traders said.

Heavy Louisiana Light (WTC-HLS: ) traded at $2.45, $2.40 and
$2.35 a barrel for November.

Thunder Horse (WTC-THH: ) light sour, largely controlled by
BP (BP.L: ), shed 15 cents to trade at 35 cents over stronger
West Texas Intermediate (CLc1: ) after dealing for 20 cents over
the barrel on Friday.

Mars sour (WTC-MRS: ) traded up 15 cents at minus $1.75 a
barrel after trading earlier at minus $1.80 a barrel.

See [CRU/TU] for other deals.

On futures markets, December WTI (CLZ0: ) traded up 95 cents
to $83.90, the highest level in six months. December Brent
(LCOZ0: ) gained 79 cents to $85.41.

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See (REF/MARGIN1: ) for Reuters’ generic refining margins

See (CL-1=R: ) for the WTI front/second month spread

See (CL-LCO1=R: ) for front month WTI/Brent futures spread

See (BFO-: ) for Reuters’ assessment of Dated Brent

See (0#FRT-: ) for Reuters assessed tanker rates

See (BRNV: ) for assessed domestic crude differentials

See (PPGR: ) for outright U.S. cash crude prices

See [REF/US] for a list of U.S. refinery outages

See [EIA/S] for U.S. EIA inventory reports and forecasts

See [CRU/TU] for recent cash crude deals

(Reporting by Bruce Nichols and Janet McGurty; Editing by
David Gregorio)

U.S. cash crude-Brent pulls up U.S. cash crudes