U.S. Cash Crude-Grades mostly firm as WTI/Brent spread widest since October

US Physical Therapy

10/11/2022 21:54

Nov 10 (Reuters) - U.S. physical crude oil grades mostly
strengthened on Thursday as the WTI/Brent spread reached its
widest since last month, dealers said.
    WTI Midland crude and Mars Sour crude were among the grades
that firmed as the spread between U.S. benchmark crude oil
futures and international Brent futures reached its widest since
Oct. 31.
    A wider spread makes domestic grades cheaper for
international buyers.
    In refining, the second largest crude distillation unit
(CDU), a reformer and a lube oil hydrocracker completed
restarting and were operating on Thursday at Motiva Enterprises
 MOTIV.UL  626,000 barrel-per-day (bpd) Port Arthur, Texas, said
people familiar with plant operations.  urn:newsml:reuters.com:*:nL1N3262JJ
    Motiva's 81,000-bpd gasoline-producing fluidic catalytic
cracker (FCC) was operating normally after a malfunction on
Wednesday, the sources said.
    The 200,000 bpd VPS-4 CDU was shut on Sept. 30 for a planned
overhaul and began restarting over the weekend, the sources
said.
    * Light Louisiana Sweet  WTC-LLS  for December delivery rose
5 cents to a midpoint of a $3.30 premium and traded between a $3
and $3.60 a barrel premium to U.S. crude futures  CLc1 .    
    * Mars Sour  WTC-MRS  rose 30 cents to a midpoint of minus
$3.45 and traded between a $3.55 and $3.35 a barrel discount to
U.S. crude futures  CLc1 .    
    * WTI Midland  WTC-WTM  rose 5 cents to a midpoint of a
$1.60 and traded between a $1.45 and $1.75 a barrel premium to
U.S. crude futures  CLc1 .    
    * West Texas Sour  WTC-WTS  was unchanged at a midpoint of
minus $1.45, trading between a $1.60 and $1.30 a barrel discount
to U.S. crude futures  CLc1 .    
    * WTI at East Houston, also known as MEH, traded from $1.85
to $2.05 over WTI. 
    * ICE Brent January  LCOc1  futures rose $1.02 to settle at
$93.67 a barrel.
    * WTI December crude  CLc1  futures rose 64 cents to settle
at $86.47 a barrel.
    * The Brent/WTI spread  WTCLc1-LCOc1  widened 36 cents to
settle at minus $8.01, after hitting a high of minus $7.62 and a
low of minus $8.00.
 (Reporting by Laila Kearney; editing by Diane Craft)
 ((Laila.kearney@thomsonreuters.com; (917) 809-0054))