US Cash Crude-Grades rise as North Dakota production slips, fuel stocks fall

Feb 11 (Reuters) - Grades rose on Tuesday, dealers said, after oil output slipped in the third largest oil producing state in the country due to cold weather.

North Dakota oil output fell by an estimated 60,000-90,000 barrels per day on Tuesday due to frigid temperatures and related operational challenges, the state pipeline regulator said in a statement.

"Cold conditions are expected to continue this week. Recovery typically takes up to a week once more normal weather conditions arrive," said Justin Kringstad, director of the North Dakota Pipeline Authority.

Meanwhile, U.S. crude oil stocks rose last week while fuel inventories fell, market sources said, citing American Petroleum Institute figures.

Crude stocks rose by 9.04 million barrels in the week ended February 7, the sources said on condition of anonymity. Gasoline inventories fell by 2.51 million barrels, and distillate stocks fell by 590,000 barrels, they said.

U.S. oil production is poised to set a larger record this year than prior estimates, the U.S. Energy Information Administration (EIA) said on Tuesday in its Short-Term Energy Outlook report, but it maintained its estimate for demand growth.

And Chevron's CVX.N oil and gas reserves have fallen to the lowest point in at least a decade.

Light Louisiana Sweet WTC-LLS for March delivery rose 5 cents to a midpoint of a $3.30 premium and was seen bid and offered between a $3.10 and $3.50 a barrel premium to U.S. crude futures CLc1

Mars Sour WTC-MRS rose 10 cents to a midpoint of a $1.30 premium and was seen bid and offered between a $1.20 and $1.4 a barrel premium to U.S. crude futures CLc1

WTI Midland WTC-WTM rose 5 cents to 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 rose 20 cents to a midpoint of a 65-cent discount and was seen bid and offered between a 75-cent and 55-cent a barrel discount to U.S. crude futures CLc1

WTI at East Houston WTC-MEH, also known as MEH, traded between a $1.35 and $1.55 a barrel premium to U.S. crude futures CLc1

ICE Brent April futures LCOc1 rose $1.13 to settle at $77 a barrel

WTI March crude CLc1 futures fell 18 cents and is currently trading at $73.14 a barrel

The Brent/WTI spread WTCLc1-LCOc1 narrowed 1 cents to last trade at minus $3.85, after hitting a high of minus $3.85 and a low of minus $3.97