March 12 (Reuters) - U.S. cash crude differentials rose forthe second day on Thursday after the premium for Brent over U.S.crude futures widened.
While U.S. Gulf Coast grades, such as Light Louisiana Sweetand Mars Sour, have in recent months traded in lockstep with theBrent/WTI arbitrage, sources indicated that sour grades seemedto have strengthened separately on higher demand.
Brent's premium over the West Texas Intermediate benchmark
Meanwhile, the United Steelworkers union and oil companiesreached a tentative deal to end the largest U.S. refinery strikein 35 years, sources familiar with the new labor accord saidThursday..
Earlier in the day, information provider Genscape said inits mid-week data that Cushing stocks rose some 2.2 millionbarrels in the four days between Friday through Tuesday,pressuring the futures market quickly on growing stockpiles atthe U.S. storage hub
The Houston Ship Channel reopened Thursday morning after acollision earlier in the week. On Thursday afternoon, it wasshut again after fog remained in the Houston area.
In the cash market, Light Louisiana Sweet
Mars Sour
West Texas Intermediate
West Texas Sour
In the futures market, U.S. crude fell $1.12 tosettle at $47.05 a barrel while international Brent slipped 46 cents to settle at $57.08 a barrel. (Reporting By Catherine Ngai; Editing by Diane Craft)