U.S. crude futures' discount to Brent widened to as much as $4.20 a barrel, the most since April 13. A wider discount makes U.S.-linked crudes less attractive to foreign buyers.
Mars Sour weakened $1.00 at a midpoint of a 75-cent discount. It had strengthened to as much as a $1.60 premium last week.
West Texas Sour gained on Monday 10 cents at a
midpoint of a 5-cent discount.
U.S. oil output from the seven biggest shale basins is due
to rise in June to the highest on record, data from the Energy
Information Administration showed. Oil output is set to rise by 41,000 barrels per day (bpd) to
9.33 million bpd, the EIA said.
Crude output in the Permian Basin in Texas and New Mexico,
the biggest U.S. shale oil basin, is expected to rise by 15,000
bpd to a record high 5.71 million bpd.
* Light Louisiana Sweet for June delivery was
unchanged at a midpoint of a $2.50 premium and was seen bid and
offered between a $2.25 and $2.75 a barrel premium to U.S. crude
futures ?
* Mars Sour fell $1.00 at a midpoint of a 75-cent
discount and was seen bid and offered between a 85-cent and
65-cent a barrel discount to U.S. crude futures ?
* WTI Midland was unchanged 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 gained 10 cents at a midpoint of a
5-cent discount and was seen bid and offered between a discount
of 15 cents?? and 5-cent a barrel premium to U.S. crude futures ?
* WTI at East Houston , also known as MEH, traded
between a 80-cent and $1.00 a barrel premium to U.S. crude
futures ?
* ICE Brent July futures rose $1.06 to settle at
$75.23 a barrel
* WTI June crude futures rose $1.07 to settle at $71.11
a barrel
* The Brent/WTI spread last widened to minus
$4.17, after hitting a high of minus $4.03 and a low of minus
$4.20.
(Reporting by Stephanie Kelly in New York
Editing by Marguerita Choy)
