April 10 (Reuters) - U.S. cash crude grades were largely
unchanged on Monday, dealers said, after a long Easter holiday
weekend and following a week in which OPEC+ surprised the market
with a new round of production cuts starting in May.
Light Louisiana Sweet and West Texas Sour were unchanged while Mars Sour and WTI
Midland edged higher.
Oil futures settled lower on Monday, after rising for three
straight weeks.
Crude last week jumped more than 6% after OPEC+, the
Organization of the Petroleum Exporting Countries (OPEC) and
allies including Russia, surprised the market with a new round
of production cuts starting in May. The Brent/WTI spread widened on Monday,
hitting a high of minus $4.32 and a low of minus $4.48. A wider
spread makes U.S.-linked grades more attractive to foreign
buyers.
* Light Louisiana Sweet for May delivery was
unchanged at a midpoint of a $1.90 premium and was seen bid and
offered between a $1.80 and $2 a barrel premium to U.S. crude
futures
* Mars Sour gained 10 cents at a midpoint of a $1.20
discount and was seen bid and offered between a $1.30 and $1.10
a barrel discount to U.S. crude futures
* WTI Midland gained 10 cents at a midpoint of a
70-cent premium and was seen bid and offered between a 60-cent
and 80-cent a barrel premium to U.S. crude futures ?
* West Texas Sour was unchanged at a midpoint of a
63-cent discount and was seen bid and offered between a $1 and
25-cent a barrel discount to U.S. crude futures ?
* WTI at East Houston , also known as MEH, traded
between a 80-cent and $1 a barrel premium to U.S. crude futures ?
* ICE Brent June futures fell 94 cents to settle at
$84.18 a barrel on Monday?.
* WTI May crude futures fell 96 cents to settle at
$79.74 a barrel on Monday?.
* The Brent/WTI spread widened, hitting a high
of minus $4.32 and a low of minus $4.48.
(Reporting by Stephanie Kelly; Editing by Richard Chang)
Messaging: stephanie.kelly.thomsonreuters.com@reuters.net))
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