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Coastal grades mostly ease as oil stocks fall


By Reuters Staff
3 Min Read
(Reuters) -U.S. coastal crude oil grades broadly weakened on Wednesday as domestic oil inventories fell, dealers said.
FILE PHOTO: Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, March 24, 2016. REUTERS/Nick Oxford/File Photo
Mars Sour crude eased 10 cents to a midpoint of a 5 cent-a-barrel premium to U.S. crude futures. The discount of WTI futures to Brent futures, which typically makes domestic crude more attractive to international buyers when it widens, remained flat at minus $3.36.
U.S. crude oil inventories fell by 5.9 million barrels in the week to April 9 to 492.4 million barrels, compared with analysts’ expectations in a Reuters poll for a 2.9 million-barrel drop as refinery runs picked up, the Energy Information Administration said. [EIA/S] ....

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Grades weaken as Brent/WTI spread contracts | Hellenic Shipping News Worldwide


Grades weaken as Brent/WTI spread contracts
U.S. cash crude differentials mostly weakened on Monday as the spread between benchmark U.S. crude futures and Brent contracted, dealers said.
Coastal grades including Louisiana light Sweet (LLS) and Mars eased as the Brent/WTI spread narrowed by 7 cents a barrel. A narrow spread typically makes U.S.-crude linked coastal grades less attractive to international buyers compared to Brent-linked grades.
Among inland grades, WTI Midland eased by 5 cents on signs of increased production from the Permian basin.
Output from the Permian, the top-producing basin in the country, is expected to rise by 52,000 bpd to about 4.47 million bpd, the highest since April 2020, the EIA said in a monthly forecast. ....

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Grades weaken as Brent/WTI spread contracts


By Reuters Staff
3 Min Read
(Reuters) - U.S. cash crude differentials mostly weakened on Monday as the spread between benchmark U.S. crude futures and Brent contracted, dealers said.
FILE PHOTO: Pump jacks operate at sunset in Midland, Texas, U.S. February 11, 2019. REUTERS/Nick Oxford/File Photo
Coastal grades including Louisiana light Sweet (LLS) and Mars eased as the Brent/WTI spread narrowed by 7 cents a barrel. A narrow spread typically makes U.S.-crude linked coastal grades less attractive to international buyers compared to Brent-linked grades.
Among inland grades, WTI Midland eased by 5 cents on signs of increased production from the Permian basin. ....

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