HOUSTON, Nov 5 (Reuters) - Southern Green Canyon sour led U.S. cash crudes stronger as futures fell Thursday, and traders said a big buyer was forced to cover a supply shortage.
SGC gained 50 cents to sell for $3.00 a barrel under West Texas Intermediate. Mars deepwater sour rose 25 cents to deal at $2.50 under.
Light Louisiana Sweet gained 10 cents to $1.35 over the screen.
With other factors that usually boost differentials absent, traders said it appeared a big buyer had to close an unexpected gap in crude supply.
On futures markets, December WTI shed 78 cents to $79.62 a barrel. December Brent lost 90 cents to $77.99. Spreads, often a factor in cash crude moves, were little changed.
Among other cash crudes, Eugene Island light sour sold 60 cents under WTI, 25 cents stronger than offers Wednesday. Bonito sour dealt for minus 40 cents, up 20 cents.
Poseidon deepwater sour> traded up 10 cents at $2.45 a barrel under.
In the Midcontinent, West Texas Sour gained 5 cents to $1.85 under. WTI at Midland rose 4 cents to minus 46 cents.
On the West Coast, Alaska North Slope crude oil last sold Wednesday for December delivery, unchanged at $2 a barrel under WTI.
Buyers of California crudes cut posted prices 80 cents a barrel. --------------------------------------------------------------
See for Reuters' generic refining margins
See for the WTI front/second month spread
See for front month WTI/Brent futures spread
See for Reuters' assessment of Dated Brent
See for Reuters assessed tanker rates
See for assessed domestic crude differentials
See for outright U.S. cash crude prices
See for a list of U.S. refinery outages
See for U.S. EIA inventory reports and forecasts
See for recent cash crude deals --------------------------------------------------------------
(Reporting by Bruce Nichols; Editing by Christian Wiessner)
((Email: b.nichols@thomsonreuters.com; +1 713 210 8510; Reuters Messaging: bruce.nichols.reuters.com@reuters.net)) Keywords: MARKETS USCRUDE
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