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US Cash Crude – Grades surge in Mon wild Roll day

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This topic contains 1 reply, has 1 voice, and was last updated by  Charles Randall 12 years, 6 months ago.

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  • #2662

    basil parmesan

    US cash crude – Grades surge in wild second roll day

    HOUSTON, May 24, 2010 (Reuters)U.S. cash crude differentials soared Monday as the second day of June-July roll trade saw the roll deepen, giving strong support to physical crudes.

    Roll – the three days between expiry of a monthly futures contract and the pipeline-scheduling deadline – can be volatile anyway because buyers are under pressure to complete slates.
    But Monday’s volatility was epic.
    Mars sour strengthened $3.45 to sell for $5.00 a barrel over West Texas Intermediate. Light Louisiana Sweet gained $1.90 to sell for $8.40 over the screen.
    Heavy Louisiana Sweet jumped $1.50 to sell for $8.00 over.
    The roll deepened to minus $4.00 from minus $2.00 Friday, meaning June WTI was worth $4.00 less than July WTI in post-expiry trade, a spread move that tends to support cash crudes.
    For other cash crude deals, see.
    On futures markets, July WTI gained 17 cents to $70.21 a barrel. July Brent slid 51 cents to $71.17.
    Alaska North Slope crude for July delivery sold for a 50-cent discount to a calendar month average price for July WTI in the last publicly disclosed sale Thursday.
    Buyers of California crudes raised posted prices 15 cents a barrel.

    (Reporting by Bruce Nichols; Edited by Sofina Mirza-Reid)  ((Email:; +1 713 210 8510;

  • #5609

    Charles Randall

    Here is update on US Mondays Volatile Crude EOM roll – Most of stats on Memorial day gasoline are flat on imports, production & demand levels.

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