Light Louisiana Sweet crude tumbled against West Texas Intermediate after spot contracts rolled into March, giving up strength built by a rally over the last month.
Heavy Louisiana Sweet crude rose to a nine-month high against West Texas Intermediate as regional refiners operated at the highest seasonal level on record and distillate stockpiles were expected to decline.
Mars Blend crude jumped to a nine- month high, leading gains in Gulf Coast grades as regional refiners operated at the highest seasonal level on record.
Crudes on the U.S. Gulf Coast weakened after Royal Dutch Shell Plc returned an offshore oil pipeline to normal operations after repairs.
Crudes on the U.S. Gulf Coast strengthened as production outages in the Gulf of Mexico and Bakken formation and lower imports from overseas reduced supply.
Thunder Horse crude advanced to the highest level versus West Texas Intermediate in seven months as the domestic benchmark weakened against Brent.
Heavy Louisiana Sweet crude advanced to a nine-month high versus West Texas Intermediate after a government report showed imports fell.
Crude drilled in the Gulf of Mexico weakened after the differential between U.S. and European benchmark oils narrowed.
Thunder Horse, a crude produced in the Gulf of Mexico, fell to a discount against U.S. benchmark West Texas Intermediate for the first time this month.
Light crude on the U.S. Gulf Coast strengthened to the highest level in more than two weeks on concern that fighting in Iraq might curb imports.