U.S. crude's discount to Brent traded between minus $5.75 and minus $5.99.
The arb stronger than minus $6.00 is threatening to kill positive export dynamics that thrive at weaker levels, said Mizuho analyst Robert Yawger.
A wider discount makes U.S.-linked grades more attractive to foreign buyers.
On the supply side, U.S. oil rig count, an indicator of future production, fell by 2 to 590 this week, their lowest since June, according to data from Baker Hughes. In refining news, Chevron Corp on Friday said its 245,271 barrels-per-day Richmond, California, refinery experienced a process upset which resulted in a small pump fire that was quickly extinguished.
* Light Louisiana Sweet for April delivery rose 20
cents to a midpoint of a $3.20 premium and was traded between a
$3.00 and a $3.40 a barrel premium to U.S. crude futures .
* Mars Sour gained 10 cents at a midpoint of an
20-cent discount and was traded between a flat and a 40-cent a
barrel discount to U.S. crude futures .
* WTI Midland fell 10 cents to a midpoint of a
$1.60 premium and traded between a $1.40 and a $1.80 a barrel
premium to U.S. crude futures .
* West Texas Sour eased 50 cents to a midpoint of
a $1.20 discount and was bid and offered between a $1 and a
$1.40 a barrel discount to U.S. crude futures .
* WTI at East Houston, also known as MEH, traded between $1.60 and $2.00 over WTI.
* ICE Brent May futures rose $1.19 to settle at
$82.78 a barrel.
* WTI April crude futures rose 96 cents to settle at
$76.78 a barrel.
* The Brent/WTI spread widened 15 cents to
minus $5.96, after hitting a high of minus $5.75 and a low of
minus $5.99.
(Reporting by Arathy Somasekhar in Houston
Editing by Matthew Lewis)
