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US Cash Crude-Inland grades firm, Mars eases on last day of WTI Feb trade

ReutersJan 21, 2025 10:14 PM

- Inland U.S. crude grades largely strengthened on Tuesday while Mars eased, dealers said, on the last day of February trading for U.S. crude futures.

WTI Midland WTC-WTM rose 30 cents, while WTI-MEH rose 25 cents. Mars fell 25 cents.

Winter storm Enzo swept through Texas, disrupting some port activity. Port Freeport on Tuesday said it expects limited vessel activity, while Port Houston said all of its public facilities will remain closed through Wednesday.

The impact of the storm on Texas oil and gas operations was limited on Tuesday, with minimum interruptions in gas flows, few power outages and plenty of gasoline inventories at the pump.

Meanwhile, the price of medium and heavy crude eased after strengthening in recent days after the U.S. ramped up sanctions on Russian oil.

Light Louisiana Sweet WTC-LLS for February delivery eased 25 cents to a midpoint of a $1.90 premium and was seen bid and offered between a $1.70 and $2.10 a barrel premium to U.S. crude futures CLc1.

Mars Sour WTC-MRS eased 25 cents to a midpoint of a 25-cent discount and was seen bid and offered between discount of 50 cents and parity to U.S. crude futures CLc1.

WTI Midland WTC-WTM firmed 30 cents to a midpoint of a 95-cent premium and was seen bid and offered between a 80-cent and $1.10 a barrel premium to U.S. crude futures CLc1.

West Texas Sour WTC-WTS gained 35 cents to a midpoint of a 45-cent premium and was seen bid and offered between a 25-cent and 65-cent a barrel premium to U.S. crude futures CLc1.

WTI at East Houston WTC-MEH, also known as MEH, traded between a 90-cent and $1.30 a barrel premium to U.S. crude futures CLc1.

ICE Brent March futures LCOc1 fell 86 cents to settle at $79.29 a barrel on Tuesday.

WTI March crude CLc1 futures fell $1.56 to settle at $75.83 a barrel on Tuesday.

The Brent/WTI spread WTCLc1-LCOc1 narrowed 12 cents to last trade at minus $3.47, after hitting a high of minus $3.26 and a low of minus $3.55.

(Reporting by Arathy Somasekhar in Houston; Editing by Nia Williams)

((Arathy.s@tr.com))

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