U.S. Cash Crude-Grades sideways on thin volumes
May 6 (Reuters) - U.S (Other OTC: UBGXF - news) . cash crude differentials moved
sideways on Friday on thin volumes, dealers said.
The move follows a number of production facilities shutting
following a raging wildfire that forced some 88,000 residents to
flee Fort McMurray in Alberta, Canada, earlier this week.
The closures of production caused a spike in Canadian crude
prices earlier, though volumes in the Canadian market were also
thinly traded on Friday.
BP Plc will not be able to deliver on some contracts
for Canadian crude, two trading sources said on Friday, the
latest sign that output cuts due to the wildfires are curbing
supply from the oil sands region. Others were
expected to follow.
* Light Louisiana Sweet (WTC-LLS) for June delivery rose 2
cents to a midpoint of $1.92 and traded between $1.90 and $1.95
a barrel premium to U.S. crude futures.
* Mars Sour (WTC-MRS (LSE: MRS.L - news) ) fell 5 cents to a midpoint of -$3.25
and traded at a $3.30 a barrel discount to U.S. crude futures
.
* WTI Midland (WTC-WTM) rose 2.5 cents to a midpoint of
-$0.2 and traded between 20 and 25 cents a barrel discount to
U.S. crude futures.
* West Texas Sour (WTC-WTS) rose 8 cents to a midpoint of
-$1.27 and traded at a $1.25 a barrel discount to U.S. crude
futures.
* WTI to East Houston traded at $1.65 a barrel over WTI.
* ICE Brent July futures rose 36 cents to settle at
$45.37 a barrel.
* WTI June crude futures rose 34 cents to settle at
$44.66 a barrel.
* The Brent/WTI spread (WTCLc1-LCOc1) widened 5.0 cents to
settle at $-0.05.
(Reporting by Catherine Ngai in New York; Editing by Matthew
Lewis)