U.S. West Texas Intermediate's discount to Brent widened on Monday to as much as $7.23 a barrel, widest since Nov. 28. A wider discount makes U.S.-linked grades more attractive to foreign buyers.
Coastal grades Mars Sour and Light Louisiana Sweet both firmed. On Friday, Mars Sour eased from its
highest in more than two months.
Inland grade WTI Midland rose to the highest since
Oct. 18.
Abroad, an OPEC+ panel is likely to recommend keeping the
oil producer group's current output policy unchanged when it
meets this week, five OPEC+ delegates told Reuters on Monday.
The Russian government on Monday banned domestic oil
exporters and customs bodies from adhering to Western-imposed
price caps on Russian crude.
* Light Louisiana Sweet for March delivery gained 30
cents at a midpoint of a $3.4 premium and was seen bid and
offered between a $3.3 and $3.5 a barrel premium to U.S. crude
futures ?
* Mars Sour gained 20 cents at a midpoint of a $2.6
discount and was seen bid and offered between a $2.7 and $2.5 a
barrel discount to U.S. crude futures ?
* WTI Midland gained quarter of a dollar at a
midpoint of a $2.05 premium and was seen bid and offered between
a $1.95 and $2.15 a barrel premium to U.S. crude futures ?
* West Texas Sour gained 55 cents at a midpoint of a
45-cent discount and was seen bid and offered between a 55-cent
and 35-cent a barrel discount to U.S. crude futures ?
* WTI at East Houston , also known as MEH, traded
between a $2.25 and $2.45 a barrel premium to U.S. crude futures ?
* ICE Brent March futures fell $1.76 to settle at
$84.9 a barrel on Monday?.
* WTI March crude futures fell $1.78 to settle at $77.9
a barrel on Monday?.
* The Brent/WTI spread widened 2 cents to minus
$7, after hitting a high of minus $6.78 and a low of minus
$7.23.
(Reporting by Stephanie Kelly in New York; Editing by David
Gregorio)
