July 16, 2012 / 8:29 PM / 5 years ago

U.S. cash crudes gain despite narrower arb

NEW YORK, July 16 (Reuters) - U.S. cash crude grade
differentials gained for the fourth consecutive trading day on
Monday despite the tighter arb as U.S. crude prices outpaced
expiring North Sea Brent August futures.   
    Mars sour changed hands at $13.70 a barrel, up 85
cents from Friday's high trade of $12.85 above West Texas
Intermediate .
    Light Louisiana Sweet traded as high as $18.10 a
barrel, up from Friday's high of $16.65. 
    West Texas Intermediate at Midland added 25 cents to
trade at 85 cents under WTI while West Texas Sour traded
at $3.50 under WTI, up 35 cents from Friday.   
    The trans-Atlantic crude spread settled at
$15.12 on Monday compared with $16.04 in favor of Brent 
during Friday's trading.  
    U.S. crude futures outperformed Brent on a weaker
dollar and hopes for economic stimulus, especially in China.
    August Brent oil futures went off the board at $103.55, up
$1.15. September Brent settled at $103.37 a barrel, up $1.95.
U.S. crude settled up $1.33 to $88.43 per barrel.

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