US Cash Crude-Grades rise with no restart in sight to US-Iran talks

Bharat Petroleum

27/08/2026 20:04

HOUSTON, Aug 27 (Reuters) - Grades broadly rose on Thursday, dealers said, with no restart to talks between the U.S. and Iran to end the war in sight, stoking supply concerns. 
Washington confirmed it was not in talks with Tehran on Thursday, despite diplomatic efforts by other countries to re-engage the two sides.
Shipping traffic at the Strait of Hormuz rose slightly even as a standoff persisted between the U.S. and Iran, data showed on Thursday, while the market monitored Iran-Oman talks about the waterway.
Visible commodity vessel transits at Hormuz totaled 10 on Wednesday, up slightly from eight on Tuesday, data from Kpler showed. This was below a 10-day moving average of about 15 vessels.
India's Bharat Petroleum Corp will receive its first Iraqi oil cargo of this fiscal year in the next few days and is willing to lift more oil from suppliers in the Gulf on a free-on-board basis if ships are available, its head of finance said on Thursday.
State-owned Kuwait Integrated Petroleum Industries Company had restarted all three crude units at its 615,000 barrel-per-day Al-Zour oil refinery at 60% capacity as of August 19, consultancy IIR said.
KIPIC shut down parts of the refinery on July 18 due to a power cut, having reduced processing ​rates earlier in the year during a round of attacks by Iran.
President Donald Trump is expected to convene U.S. refiners and fuel retailers next week to highlight efforts to lower gasoline prices, as his administration seeks to ease pressure on consumers from the Iran conflict ahead of November's congressional midterm elections, people familiar with the matter said.
     
Light Louisiana Sweet for October delivery rose $1.12 to a midpoint of a $3 premium and was seen bid and offered between a $2.90 and $3.10 a barrel premium to U.S. crude futures CLc1      ​ 
Mars Sour rose 70 cents to a midpoint of a $1 premium and was seen bid and offered between a 90-cent and $1.10 a barrel premium to U.S. crude futures CLc1      ​  
  WTI Midland rose 5 cents to 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 fell 23 cents to at a midpoint of a $1.38 discount and was seen bid and offered between  a $1.70 and $1.05 a barrel discount to U.S. crude futures CLc1     ​      
WTI at East Houston , also known as MEH, traded between a $1.10 and $1.30 a barrel premium to U.S. crude futures CLc1      ​  
ICE Brent October futures LCOc1 rose $1.86 to settle at $89.7 a barrel 
WTI October crude CLc1 futures rose $1.3 to settle at $83.53 a barrel
The Brent/WTI spread widened 56 cents to last trade at minus $6.17, after hitting a high of minus $5.52 and a low of minus $6.51

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