US Cash Crude-Inland grades strengthen on first day of roll period

US Physical Therapy

21/03/2024 20:55

March 21 (Reuters) - U.S. physical inland crude oil
deals strengthened on Thursday, dealers said, as the volatile
roll trade period began and traders squared positions.
    The roll period, which begins the session after the
front-month expiry, lasts three days.
    WTI Midland  WTC-WTM  gained 5 cents at a midpoint of a
$1.25 premium to U.S. crude futures  CLc1 , while West Texas
Sour  WTC-WTS  gained 10 cents at a midpoint of a 50-cent
premium.
    Oil prices settled slightly lower on Thursday, pressured by
weaker U.S. gasoline demand data and reports of a United Nations
draft resolution calling for a ceasefire in Gaza.  O/R 
    Russia said on Thursday that the United States was unlikely
to agree to a Ukrainian proposal to lower the price cap on
Russian oil to $30 a barrel because it would roil global energy
markets and damage the U.S. economy.

 *  Light Louisiana Sweet  WTC-LLS  for April delivery was
unchanged at a midpoint of a $3.80 premium and was seen bid and
offered between a $3.70 and $3.90 a barrel premium to U.S. crude
futures  CLc1  ​ 
 *  Mars Sour  WTC-MRS  fell 40 cents at a midpoint of a 40-cent
discount and was seen bid and offered between a 50-cent and
30-cent a barrel discount to U.S. crude futures  CLc1  ​ 
 *  WTI Midland  WTC-WTM  gained 5 cents at a midpoint of a
$1.25 premium and was seen bid and offered between a $1.15 and
$1.35 a barrel premium to U.S. crude futures  CLc1  ​ 
 *  West Texas Sour  WTC-WTS  gained 10 cents at a midpoint of a
50-cent premium and was seen bid and offered between a 40-cent
and 60-cent a barrel premium to U.S. crude futures  CLc1  ​ 
 * WTI at East Houston  WTC-MEH , also known as MEH, traded
betweena $1.45 and $1.65 a barrel premium to U.S. crude futures
 CLc1  ​ 
 *  ICE Brent May futures  LCOc1  fell 17 cents to settle at
$85.78 a barrel on Thursday​. 
 *  WTI May crude  CLc1  futures fell 20 cents to settle at
$81.07 a barrel on Thursday​. 
 *  The Brent/WTI spread  WTCLc1-LCOc1  widened, after hitting a
high of minus $4.66 and a low of minus $4.76.

 (Reporting by Stephanie Kelly in New York; Editing by Cynthia
Osterman)
 ((Stephanie.Kelly@tr.com))