U.S. cash crude-diffs stable as futures fall
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NEW YORK, July 6 (Reuters) – U.S. cash crude grades were little changed on Friday as oil futures fell and the transatlantic arbitrage widened.
Heavy Louisiana Sweet traded for $12.85 a barrel above West Texas Intermediate, unchanged from Thursday.
Mars traded at $9.10 a barrel above WTI, in range with Thursday’s trading. Eugene Island and Bonito crudes both traded for $11.40 a barrel above WTI, as much as 50 cents a barrel higher than Thursday.
Futures fell sharply on Friday on a weak U.S. jobs report, with Brent dipping by $2.51 to $98.19 a barrel and U.S. oil futures closing down $2.77 at $84.45 a barrel, bringing the arb to $13.74 in favor of Brent.
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