US Cash Crude - Grades unchanged on demand outlook

NEW YORK | Tue Aug 11, 2009 5:06pm EDT

NEW YORK Aug 11 (Reuters) - U.S. cash crude differentials were little changed Tuesday as futures fell amid fears that U.S. fuel demand could take more time to recover.

Light Louisiana Sweet LLS- traded for $4.05 a barrel above West Texas Intermediate, down 5 cents from Monday. Mars MRS- was up 5 cents from Monday in a trade at 50 cents a barrel above WTI, but later traded at 40 cents above WTI. Thunder Horse was up 10 cents a barrel at $2.95 above WTI.

U.S. crude futures fell $1.00 a barrel to $69.60 after settlement, while the spread between a barrel for September and October delivery narrowed to $1.80 a barrel from $2.09 a barrel late Monday. Narrowing time spreads usually weaken crude differentials.

Brent crude LCO1 fell $1.10 a barrel to $72.40. WTI's discount to Brent fell to $2.81 a barrel, from $3.01 a barrel late Monday. A smaller spread between Brent and WTI often weakens U.S. cash crudes.

The U.S. Energy Information Administration cut its 2009 oil demand forecast, predicting consumption would fall by 1.71 million barrels per day this year, compared with previous estimates of a 1.56-million bpd drop. [ID:nN11350532]

The Organization of the Petroleum Exporting Countries forecast that the slow recovery in global consumption and rival oil supplies will shrink demand for its crude next year. [ID:nLB30844]

Poseidon PSD- traded for up to 55 cents above WTI, 10 cents above its differential from the last publicly disclosed trades on August 5. West Texas Intermediate at Midland WTM- traded for 5 cents above WTI, up 5 cents since August 6 when it last traded publicly. West Texas Sour WTS- traded even with Monday's levels, at $1.10 below WTI.

On the West Coast, Alaska North Slope crude ASW- last dealt last Tuesday at 25 cents a barrel under WTI for September delivery. ANS for October delivery sold last Thursday at 35 cents under.

Buyers of California crudes cut posted prices by $1.15 cents a barrel. ==========================================================

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 Joshua Schneyer; Editing by David Gregorio)

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