US Cash Crude-Grades mixed on first day of May trade

US Physical Therapy

26/03/2024 22:34

March 26 (Reuters) - U.S. physical crude oil
differentials were mixed on Tuesday, on the first day of May
trade, dealers said, as prices steadied after the volatile roll
trade period ended.
    Light Louisiana Sweet  WTC-LLS  for May delivery fell 80
cents, while Mars Sour  WTC-MRS  fell 5 cents. 
    WTI Midland  WTC-WTM  gained 30 cents, while West Texas Sour
 WTC-WTS  gained 55 cents. 
    The spread between WTI Midland and WTI at East Houston
widened to 35 cents. The widening comes as high utilization on
crude pipelines to Corpus Christi, Texas has pushed more flow to
Houston. 
    U.S. crude oil and distillate inventories rose last week,
while gasoline stockpiles fell, according to market sources
citing American Petroleum Institute figures on Tuesday.
    Crude stocks rose by 9.3 million barrels in the week ended
March 22, the sources said on condition of anonymity.

        
    *  Light Louisiana Sweet  WTC-LLS  for April delivery fell
80 cents at a midpoint of a $3.00 premium and was seen bid and
offered between a $2.80 and $3.20 a barrel premium to U.S. crude
futures  CLc1  ​ 
    *  Mars Sour  WTC-MRS  fell 5 cents at a midpoint of a
35-cent premium and was seen bid and offered between a 20-cent
and 50-cent a barrel premium to U.S. crude futures  CLc1  ​ 
    *  WTI Midland  WTC-WTM  gained 30 cents at a midpoint of a
$1.25 premium and was seen bid and offered between a $1.00 and
$1.50 a barrel premium to U.S. crude futures  CLc1  ​ 
    *  West Texas Sour  WTC-WTS  gained 55 cents at a midpoint
of a $1 premium and was seen bid and offered between a 80-cent
and $1.20 a barrel premium to U.S. crude futures  CLc1  ​ 
    * WTI at East Houston  WTC-MEH , also known as MEH, traded
between a $1.40 and $1.80 a barrel premium to U.S. crude futures
 CLc1  ​ 
    *  ICE Brent May futures  LCOc1  fell 50 cents to settle at
$86.25 a barrel on Tuesday​. 
    *  WTI May crude  CLc1  futures fell 33 cents to settle at
$81.62 a barrel on Tuesday​. 
 *  The Brent/WTI spread  WTCLc1-LCOc1  narrowed 23 cents to
minus $4.8, after hitting a high of minus $4.51 and a low of
minus $4.79.
    

 (Reporting by Arathy Somasekhar in Houston; Editing by Josie
Kao)
 ((Arathy.s@tr.com))