US Cash Crude-US inland grades firm on supply concerns and as domestic oil stocks drop

Baker Hughes

02/09/2026 21:27

HOUSTON, Sept 2 (Reuters) - U.S. inland domestic grades firmed on Wednesday, dealers said, on worries that renewed military strikes between the U.S. and Iran that could further restrict oil supply and as U.S. stocks fell more than expected. 
WTI Midland firmed to its most in more than three months, while WTI at East Houston, also known as MEH, rose to its most in nearly two months.
Four commodity vessels transited the Strait of Hormuz, below the 10-day average of around 13, preliminary Kpler shipping data showed on Wednesday. Two oil tankers hit sea mines and were disabled while attempting to transit the strait, Iran's Revolutionary Guards said on Wednesday in a statement shared by state media.
In the U.S., crude oil inventories fell by 4.5 million barrels last week, the Energy Information Administration said on Wednesday, compared with analysts' expectations in a Reuters poll for a 1.1 million-barrel draw.
OPEC+ is also likely to keep its oil output policy unchanged for October at a meeting on Sunday, three sources close to the matter told Reuters, as the producer group completes the unwinding of one layer of production cuts this month and turns its focus to 2027 quota negotiations. 
In refining news, Valero Energy Corp's 385,000 barrel-per-day Port Arthur, Texas, refinery was hit by a partial power outage on Tuesday night following the passage of Tropical Storm Edouard, people familiar with plant operations said.
Motiva's 656,400 barrels per day Port Arthur, Texas refinery experienced an unexpected interruption and shutdown of several critical pieces of equipment on September 1, caused by severe weather during Tropical Storm Edouard, according to a Texas Commission on Environmental Quality filing.
Light Louisiana Sweet for October delivery was largely unchanged at a midpoint of a $5.50 premium and was seen bid and offered between a $5.00 and $6.00 a barrel premium to U.S. crude futures CLc1 
Mars Sour was unchanged at a midpoint of a $6 premium and was seen bid and offered between a $5.00 and $7 a barrel premium to U.S. crude futures CLc1 
WTI Midland firmed to a midpoint of a $1.35 premium and was seen bid and offered between a $1.10 and $1.60 a barrel premium to U.S. crude futures CLc1
West Texas Sour firmed to a midpoint of a $1.35 premium and was seen bid and offered between a $1.10 and $1.60 a barrel premium to U.S. crude futures CLc1
WTI at East Houston, also known as MEH, traded between a $1.60 and $2.00 a barrel premium to U.S. crude futures CLc1 ​
ICE Brent November futures LCOc1 rose 98 cents to settle at $95.63 a barrel on Wednesday​.
WTI October crude CLc1 futures rose 79 cents to settle at $91.01 a barrel on Wednesday​.
The Brent/WTI spread widened 44 cents to  to last trade at minus $7.34, after hitting a high of minus $6.89 and a low of  minus $7.62.

 (Reporting by Arathy Somasekhar; Editing by David Gregorio)
 ((arathy.s@thomsonreuters.com))