off-the-wire

U.S. Cash Crude- Inland grades show some strength on second day of roll

Kitco Media
By Reuters
Published:
Updated:
Reuters
Feb 23 (Reuters) - U.S. physical crude showed signs of strength on Thursday, the second day of the more volatile roll trade period, dealers said, with inland grades firming. Following the expiration of the U.S. crude futures front-month contract on Tuesday, the cash crude market has entered the roll period, in which traders square their crude positions. In a bid to lift its own oil prices, Russia plans to cut crude exports from its western ports by up to 25% in March versus February. That would exceed its announced production cuts, three sources in the Russian oil market said.
* Light Louisiana Sweet for March delivery was unchanged at a midpoint of a $3.50 a barrel premium to U.S. crude futures
* Mars Sour was seen bid and offered between a $1.20 and $1.10 a barrel discount to U.S. crude futures
* WTI Midland gained 10 cents at a midpoint of a $2.30 premium and was seen bid and offered between a $2.20 and $2.40 a barrel premium to U.S. crude futures
* West Texas Sour fell $1.05 at a midpoint of a 10-cent discount and was seen bid and offered between a discount of 30 cents?? and 20-cent a barrel discount to U.S. crude futures
* WTI at East Houston , also known as MEH, traded between a $2.35 and $2.55 a barrel premium to U.S. crude futures
* ICE Brent April futures rose $1.61 to settle at $82.21 a barrel on Thursday?.


* WTI April crude futures rose $1.44 to settle at $75.39 a barrel on Thursday?.


* The Brent/WTI spread widened 17 cents to minus $6.82, after hitting a high of minus $6.50 and a low of minus $6.86. (Reporting by Tim McLaughlin; Editing by David Gregorio)

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