US Cash Crude-Sour grades Mars hits two-week high

CVR Energy

28/01/2025 21:58

Jan 28 (Reuters) - U.S cash crude prices broadly rose on
Tuesday, dealers said, with Mars Sour crude trading at its
highest level since mid-January, according to data from LSEG. 
    On the supply side, U.S. crude oil and gasoline stocks rose
last week while distillate inventories fell, market sources
said, citing American Petroleum Institute figures on Tuesday.
    Crude stocks rose by 2.86 million barrels in the week ended
Jan. 24, the sources said on condition of anonymity. Gasoline
inventories rose by 1.89 million barrels, and distillate stocks
fell by 3.75 million barrels, they said.
    The spread between U.S. West Texas Intermediate and Brent
crude narrowed, ending four straight sessions of widening.
    A wider spread encourages more export demand. 
    Mexican state oil firm Pemex said its production of liquid
hydrocarbons in December dropped 12% from a year earlier,
marking its lowest level all year and missing the government's
target for a third month in a row.
    
    
 * Light Louisiana Sweet  WTC-LLS  for March delivery rose 13
cents to a midpoint of a $2.73 premium and was seen bid and
offered between a $2.45 and $3.00 a barrel premium to U.S. crude
futures  CLc1 
 * Mars Sour  WTC-MRS  rose 50 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  WTC-WTM  was steady at a midpoint of a $1.05
premium and was seen bid and offered between a 80-cent and $1.30
a barrel premium to U.S. crude futures  CLc1 
 * West Texas Sour  WTC-WTS  rose 45 cents to a midpoint of a
45-cent premium and was seen bid and offered between a 35-cent
and 55-cent a barrel premium to U.S. crude futures  CLc1 
 * WTI at East Houston  WTC-MEH , also known as MEH, traded
between a $1.35 and $1.55 a barrel premium to U.S. crude futures
 CLc1 
 * ICE Brent March futures  LCOc1  rose 41 cents to settle at
$77.49 a barrel 
 * WTI March crude  CLc1  futures rose 60 cents to settle at
$73.77 a barrel 
 * The Brent/WTI spread  WTCLc1-LCOc1  narrowed 23 cents to last
trade at minus $3.68, after hitting a high of minus $3.60 and a
low of minus $4.02
    
    

 (Reporting by Georgina McCartney in Houston
Editing by Marguerita Choy)
 ((Georgina.McCartney@tr.com))