Light Louisiana Sweet , another coastal grade,
firmed for its sixth straight session, gaining 15 cents at a
midpoint of a $2.65 premium, strongest since March 22.
Inland grades WTI Midland and West Texas Sour both weakened on Wednesday.
U.S. crude oil stockpiles rose unexpectedly last week due to
another release from national reserves and a drop in exports,
while gasoline inventories fell more than forecast as demand
jumped, the Energy Information Administration said. Crude inventories rose by 3 million barrels in
the week to May 5 to 462.6 million barrels, compared with
analysts' expectations in a Reuters poll for a 900,000-barrel
drop.
* Light Louisiana Sweet for June delivery gained 15
cents at a midpoint of a $2.65 premium and was seen bid and
offered between a $2.50 and $2.80 a barrel premium to U.S. crude
futures ?
* Mars Sour fell 90 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 ?
* WTI Midland fell 20 cents at a midpoint of a
55-cent premium and was seen bid and offered between a 45-cent
and 65-cent a barrel premium to U.S. crude futures ?
* West Texas Sour fell 20 cents at a midpoint of a
20-cent discount and was seen bid and offered between a 30-cent
and 10-cent a barrel discount to U.S. crude futures ?
* WTI at East Houston , also known as MEH, traded
between 70-cent and 90-cent a barrel premium to U.S. crude
futures ?
* ICE Brent July futures fell $1.03 to settle at
$76.41 a barrel
* WTI June crude futures fell $1.15 to settle at $72.56
a barrel
* The Brent/WTI spread last widened to about
minus $3.87 a barrel, after hitting a high of minus $3.72 and a
low of minus $3.91.
(Reporting by Stephanie Kelly
Editing by Marguerita Choy)
May 10 (Reuters) - U.S. coastal grade Mars Sour eased on
Wednesday after surging to its strongest since September 2020 on
higher demand for sour crudes, dealers said.
Mars Sour firmed on Tuesday for its sixth
consecutive session to a midpoint of a $1.60 a barrel premium to
U.S. crude futures . On Wednesday, it eased off of those
highs at a midpoint of a 70-cent premium, but remained
relatively elevated.
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