April 21 (Reuters) - U.S. cash crude grades largely
weakened on Friday, dealers said, with WTI Midland and
Light Louisiana Sweet at their weakest since January,
as the three-day cash roll trading period began.
Grades typically tend to be more volatile during the roll
period as traders use the window to net out exposures.
In an indication of future supply, U.S. energy firms this
week added oil and natural gas rigs for the first time in four
weeks, energy services firm Baker Hughes Co said in its
closely followed report on Friday.
The oil and gas rig count rose five to 753 in the week to
April 21. Oil rigs rose three to 591 this week.
Money managers raised their net long U.S. crude futures and
options positions by 11,736 contracts to 199,622 in the week to
April 18, the U.S. Commodity Futures Trading Commission (CFTC)
said on Friday.
* Light Louisiana Sweet for May delivery weakened 5
cents at a midpoint of a $1.55 premium and was seen bid and
offered between a $1.4 and $1.7 a barrel premium to U.S. crude
futures ?
* Mars Sour weakened 40 cents at a midpoint of a
$1.35 discount and was seen bid and offered between a $1.45 and
$1.25 a barrel discount to U.S. crude futures ?
* WTI Midland weakened 5 cents at a midpoint of a
45-cent premium and was seen bid and offered between a 35-cent
and 55-cent a barrel premium to U.S. crude futures ?
* West Texas Sour weakened 5 cents at a midpoint of
a 30-cent discount and was seen bid and offered between a
40-cent and 20-cent a barrel discount to U.S. crude futures ?
* WTI at East Houston , also known as MEH, traded
between a 55-cent and 75-cent a barrel premium to U.S. crude
futures ?
* ICE Brent June futures rose 56 cents to settle at
$81.66 a barrel on Friday?.
* WTI June crude futures rose 50 cents to settle at
$77.87 a barrel on Friday.
* The Brent/WTI spread widened, hitting a high
of minus $3.64 and a low of minus $3.83.
(Reporting by Stephanie Kelly in New York; Editing by Josie
Kao)
Messaging: stephanie.kelly.thomsonreuters.com@reuters.net))
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