At least 17 Very Large Crude Carriers were chartered to head to Asia in the next month, fixtures data on Kpler showed. Of those, at least 10 were headed to China. WTI's discount to Brent kept trading in a steady range, with a high of $5.63 and a low $6.05. A discount wider than $6 prompts more U.S. exports, making U.S.-linked grades more attractive to foreign buyers.
Inland grade WTI Midland gained 15 cents as U.S. government data showed a 1.6 million barrel rise in crude inventories, compared with estimates for a rise of 1.2 million barrels. In refining news, U.S. oil refiners are expected to have about 1.3 million barrels per day (bpd) of capacity offline for the week ending March 17, increasing available refining capacity by 61,000 bpd, research company IIR Energy said on Wednesday.
* Light Louisiana Sweet for April delivery fell
about 23 cents to a midpoint of a $2.90 premium and was bid and
offered between a $2.70 and a $3.10 a barrel premium to U.S.
crude futures .
* Mars Sour gained 50 cents to trade at a midpoint
of an 65-cent premium and was traded between a 45-cent and an
85-cent a barrel premium to U.S. crude futures .
* WTI Midland gained 15 cents to a midpoint of a
$1.55 premium and traded between a $1.40 and a $1.70 a barrel
premium to U.S. crude futures .
* West Texas Sour strengthened 60 cents to a
midpoint of a 55-cent premium and was traded between a 40 cent
and a 70-cent a barrel premium to U.S. crude futures .
* WTI at East Houston, also known as MEH, traded between $1.50 and $2.00 over WTI.
* ICE Brent May futures fell $3.76 to settle at
$73.69 a barrel.
* WTI April crude futures fell $3.72 to settle at
$67.61 a barrel.
* The Brent/WTI spread narrowed 1 cent to
minus $5.98, after hitting a high of minus $5.63 and a low of
minus $6.05.
(Reporting by Arathy Somasekhar in Houston; Editing by David
Gregorio)
