Feb 17 (Reuters) - U.S. physical crude grades showed
some strength on Friday, traders said, as American producers
expected strong demand in Europe and Asia to continue.
This week, several Federal Reserve officials signaled that
interest rates will need to go higher in order to quash
inflation, although one guarded against inferring too much from
recent strong economic data.
Nevertheless, Western sanctions on Russia's crude and oil
products have opened the door to rising demand for U.S. crude
grades as many European countries have become thirsty for
alternative supplies. This year, Russia's oil is expected to
continue flowing to India and China, while heightened volumes of
U.S. crude will go to European and Asian customers.
Exports of U.S. crude to Europe reached nearly 1.69 million
barrels per day (bpd) in December, the highest in at least two
years, according to data and analytics firm Kpler. It has since
eased to about 1.42 million bpd in February.
Russian oil producers expect to maintain current volumes of
crude exports, despite the government's plan to cut oil output
in March, the Vedomosti newspaper said on Friday, citing sources
familiar with companies' plans.
* Light Louisiana Sweet for March delivery rose 45
cents to a midpoint of $3.95 and traded between $3.80 and $4.10
a barrel premium to U.S. crude futures .
* Mars Sour fell 20 cents to a midpoint discount
of $1.20 and traded between a $1.30 and $1.10 a barrel discount
to U.S. crude futures .
* WTI Midland was unchanged at a midpoint of
$2.45, trading between $2.35 and $2.55 a barrel premium to U.S.
crude futures .
* West Texas Sour rose 25 cents to a midpoint of
minus $0.10 and traded between $0.15 and $0.05 a barrel discount
to U.S. crude futures .
* WTI at East Houston, also known as MEH, traded at $2.60
over WTI.
* ICE Brent April futures fell $2.17 to settle at
$83.00 a barrel.
* WTI March crude futures fell $2.15 to settle at
$76.34 a barrel.
* The Brent/WTI spread widened 5 cents to
settle at minus $6.45, after hitting a high of minus $6.31 and a
low of minus $6.54.
(Reporting by Tim McLaughlin; Editing by David Gregorio)
