US Cash Crude-Sweets rise, sours fall
HOUSTON, Jan 22 (Reuters) - Sweet differentials rose and sours fell on the U.S. cash crude market on Tuesday as NYMEX futures slid below $90.
Light Louisiana Sweet LLS- sold as high as $3.00 a barrel over West Texas Intermediate CLc1, up 75 cents. Mars sour MRS- was down 75 cents, trading as low as -$7.60.
A trader said sweets rallied on strength in competing imports. Another trader said sours fell on refinery problems affecting more users of sour than sweet.
With the pipeline-scheduling deadline looming Friday, there were cash March deals for LLS at +$2.30 and Mars at -$7.20.
On futures markets, February WTI CLG8 expired at $89.85 on the New York Mercantile Exchange, down 72 cents, settling below $90 for the first time in more than a month.
March Brent LCOH8 rose 94 cents to $88.45.
On the refinery front, maintenance and repairs were underway at ConocoPhillips (COP.N) in Borger, Texas, and Marathon (MRO.N) in Garyville, Louisiana, among others.
Among cash crudes, Eugene Island EUI-, a higher grade sour that moves with sweets, changed hands for +50 cents, up 75 cents. West Texas Sour WTS- dealt for -$6.45, off $1.65.
There were moves against the trends. WTI Midland WTM- sweet lost 15 cents to -20. Southern Green Canyon sour SGC- actually gained 10 cents to -$7.75. .............. 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 David Gregorio)
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