US Cash Crude- Inland crudes grades ease in wake of two refinery unit shutdowns

Kitco Media
By Reuters
Published:
Updated:
Reuters
Feb 27 (Reuters) - Inland physical crude oil grades mostly weakened on Monday as refineries in Texas shut crude units in recent days, dealers said. WTI Midland crude eased 15 cents to a midpoint of a $2 a barrel premium to U.S. crude futures. Motiva Enterprises shut the large coker on Monday at its 626,000-barrel-per-day (bpd) Port Arthur, Texas, refinery, people familiar with plant operations said. The 110,000-bpd DCU-2 coker is scheduled to be closed for two weeks of repairs to an overhead pipe, the sources said. The small crude distillation unit (CDU) at Pemex's 312,500 bpd Deer Park, Texas, refinery was shut following a Thursday night fire, said people familiar with plant operations on Friday. A fire broke out on the 70,000-bpd CDU-1 on Thursday night, the sources said. The 270,000-bpd CDU-2 remains in operation at the refinery. Seven analysts polled by Reuters estimated on average that crude inventories rose by about 400,000 barrels in the week to Feb. 24, ahead of industry and government data due to be released on Tuesday and Wednesday.
* Light Louisiana Sweet for March delivery fell 50 cents to a midpoint of $3 and traded between a $2.90 and $3.10 a barrel premium to U.S. crude futures .


* Mars Sour rose 20 cents to a midpoint of minus $1.10 and traded between a $1.20 and $1 a barrel discount to U.S. crude futures .
* WTI Midland fell 15 cents to a midpoint of $2 and traded between a $1.90 and $2.10 a barrel premium to U.S. crude futures .


* West Texas Sour was unchanged at a midpoint of minus 40 cents, seen bid and offered between a 50-cent and 30-cent a barrel discount to U.S. crude futures .


* WTI at East Houston, also known as MEH, traded from $2.15 to $2.35 over WTI.


* ICE Brent April futures fell 71 cents to settle at $82.45 a barrel.
* WTI April crude futures fell 64 cents to settle at $75.68 a barrel.
* The Brent/WTI spread narrowed 16 cents to minus $6.68, after hitting a high of minus $6.52 and a low of minus $6.83.
(Reporting by Laila Kearney; Editing by Richard Chang)

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