Coastal grades Light Louisiana Sweet and Mars Sour weakened on Wednesday, with Mars trading at a $2.05 per barrel discount to U.S. crude futures, its lowest since Jan. 31.
Inland crude grades were mixed, with WTI Midland and West Texas Sour firming.
In U.S. supply, crude oil and fuel inventories rose last
week, according to market sources citing American Petroleum
Institute figures on Wednesday. Crude stocks rose by nearly 9.9 million barrels in the week
ended Feb. 17, they said. Gasoline inventories rose by about
890,000 barrels, while distillate stocks rose by about 1.37
million barrels, according to the sources, who spoke on
condition of anonymity.
U.S. government data on inventories is due on Thursday,
after being delayed this week due to the Presidents' Day long
holiday weekend in the United States.
* Light Louisiana Sweet fell 80 cents at a midpoint
of a $3.5 premium and was seen bid and offered between $3 and $4
a barrel premium to U.S. crude futures ?
* Mars Sour fell 55 cents at a midpoint of a $2.05
discount and was seen bid and offered between a $2.15 and $1.95
a barrel discount to U.S. crude futures ?
* WTI Midland fell to trade at a midpoint of a $2.2
premium and was seen bid and offered between a $2.10 and $2.30 a
barrel premium to U.S. crude futures ?
* West Texas Sour gained 95 cents at a midpoint of a
85-cent premium and was seen bid and offered between a 75-cent
and 95-cent a barrel premium to U.S. crude futures ?
* WTI at East Houston , also known as MEH, traded
between a $2.2 and $2.4 a barrel premium to U.S. crude futures ?
* ICE Brent April futures fell $2.45 to settle at
$80.60 a barrel.
* WTI April crude futures fell $2.41 to settle at
$73.95 a barrel.
* The Brent/WTI spread narrowed 4 cents to
minus $6.65, after hitting a high of minus $6.51 and a low of
minus $6.76.
(Reporting by Stephanie Kelly
Editing by Marguerita Choy)
