U.S. cash crude-Grades up in thin trade as futures soar

* LLS 10 cents stronger at $3.60 over WTI

* Mars up 15 cents, selling at $1.45 under

* Trading thin as outrights soar with futures

HOUSTON, Nov 4 (BestGrowthStock) – U.S. cash crude differentials
gained Thursday, reflecting refining demand, even as futures
soared to an eight-month high and took outright prices with
them.

Market activity was thin, however, and dealers cautioned
against over-interpreting the cash crude numbers. Cash crudes
price against front-month West Texas Intermediate (CLc1: ).

Light Louisiana Sweet (LLS-: ) sold for $3.60 a barrel over
WTI, 10 cents stronger. Mars sour (MRS-: ) dealt for $1.45 under,
up 15 cents.

For other cash crude deals, see [CRU/TU].

Weekly government inventory reports Wednesday [EIA/S]
showed draws in both gasoline and diesel, while refinery
utilization dipped last week. But refineries are returning from
maintenance.

Spreads were nearly flat, with December WTI losing 1 cent
against January WTI (CLF1: ) (CL-1=R: ) at settlement and the
WTI-Brent spread (CL-LCO1=R: ) unchanged at the close.

Cash crude differentials often move in response to spreads,
with stronger front-month WTI usually meaning weaker cash crude
differentials and vice versa.

On futures markets, December WTI (CLZ0: ) climbed $1.80 to
settle at $86.49 a barrel. December Brent (LCOZ0: ) gained $1.62
to close at $88.00.

Analysts cited the Federal Reserve’s move to increase
liquidity for the seven-month high in NYMEX crude.

Futures prices kept climbing in after-hours trading, with
front-month WTI gaining a bit on Brent and second-month WTI.

December WTI gained 27 more cents to $86.76 in late
afternoon. The front-month spread stood at minus 67 cents and
the WTI-Brent arb at minus $1.51, essentially unchanged.

———————————————–

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
Walter Bagley)

U.S. cash crude-Grades up in thin trade as futures soar