U.S. Cash Crude- Inland grades show some strength on second day of roll

US Physical Therapy

23/02/2023 22:20

Feb 23 (Reuters) - U.S. physical crude showed signs of
strength on Thursday, the second day of the more volatile roll
trade period, dealers said, with inland grades firming.
    Following the expiration of the U.S. crude futures
front-month contract on Tuesday, the cash crude market has
entered the roll period, in which traders square their crude
positions.
    In a bid to lift its own oil prices, Russia plans to cut
crude exports from its western ports by up to 25% in March
versus February. That would exceed its announced production
cuts, three sources in the Russian oil market said.  urn:newsml:reuters.com:*:nL1N3521CD
    *  Light Louisiana Sweet  WTC-LLS  for March delivery was
unchanged at a midpoint of a $3.50 a barrel premium to U.S.
crude futures  CLc1 
    *  Mars Sour  WTC-MRS  was seen bid and offered between a
$1.20 and $1.10 a barrel discount to U.S. crude futures  CLc1   
    *  WTI Midland  WTC-WTM  gained 10 cents at a midpoint of a
$2.30 premium and was seen bid and offered between a $2.20 and
$2.40 a barrel premium to U.S. crude futures  CLc1    
    *  West Texas Sour  WTC-WTS  fell $1.05 at a midpoint of a
10-cent discount and was seen bid and offered between a discount
of 30 cents​​ and 20-cent a barrel discount to U.S. crude
futures  CLc1    
    *  WTI at East Houston  WTC-MEH , also known as MEH, traded
between a $2.35 and $2.55 a barrel premium to U.S. crude futures
 CLc1    
    *  ICE Brent April futures  LCOc1  rose $1.61 to settle at
$82.21 a barrel on Thursday​. 
    *  WTI April crude  CLc1  futures rose $1.44 to settle at
$75.39 a barrel on Thursday​. 
    *  The Brent/WTI spread  WTCLc1-LCOc1  widened 17 cents to
minus $6.82, after hitting a high of minus $6.50 and a low of
minus $6.86.
 (Reporting by Tim McLaughlin; Editing by David Gregorio)
 ((Tim.McLaughlin@ThomsonReuters.com;))