US Cash Crude-Grades rise as oil rig count falls, refinery demand rises

Baker Hughes

28/08/2026 21:50

HOUSTON, Aug 28 (Reuters) - Grades broadly rose on Friday, dealers said, as the domestic oil rig count fell, while refinery demand rose. 
U.S. energy firms left the overall rig count unchanged in the latest week, energy services firm Baker Hughes BKR.O said in its closely followed report on Friday but oil rigs fell by five to 447 this week. RIG/U
U.S. oil refiners are expected to have about 8,000 barrels per day of capacity offline for the week ending August 28, increasing available refining capacity by 67,000 bpd, research company IIR Energy said on Friday.
Offline capacity is expected to decrease to 3,000 bpd in the week ending September 4 and further to 230,000 bpd in the subsequent week, IIR added. REF/OUT
Light Louisiana Sweet for October delivery rose 50 cents to a midpoint of a $3.50 premium and was seen bid and offered between a $3.40 and $3.60 a barrel premium to U.S. crude futures CLc1      ​ 
Mars Sour rose $1 to a midpoint of a $2 premium and was seen bid and offered between a $1.90 and $2.1 a barrel premium to U.S. crude futures CLc1      ​  
WTI Midland was steady at a midpoint of a 80-cent premium and was seen bid and offered between a 70-cent and 90-cent a barrel premium to U.S. crude futures CLc1      ​  
West Texas Sour rose 18 cents to 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 CLc1     ​      
WTI at East Houston , also known as MEH, traded between a $1.05 and $1.25 a barrel premium to U.S. crude futures CLc1      ​  
ICE Brent October futures LCOc1 fell 39 cents to settle at $89.31 a barrel 
WTI October crude CLc1 futures fell 13 cents to settle at $83.4 a barrel 
The Brent/WTI spread widened 37 cents to last trade at minus $6.54, after hitting a high of minus $6.18 and a low of minus $6.54

 (Reporting by Georgina McCartney; Editing by David Gregorio)
 ((georgina.mccartney@thomsonreuters.com))