US Cash Crude-Grades rise as WTI-Brent spread widens, encouraging export demand

Feb 14 (Reuters) - Grades broadly rose on Friday, dealers said, as the WTI-Brent spread widened to its largest discount since the end of January, according to LSEG.

The spread between U.S. West Texas Intermediate and Brent crude futures widened to as much as minus $4.04 per barrel during the session, its widest since Jan. 31.

Minus $4 per barrel is typically considered the level that encourages U.S. exports, as traders see an open arbitrage route.

U.S. President Donald Trump signed an executive order in the Oval Office on Friday creating a new energy council to be led by Interior Secretary Doug Burgum, which will seek to expand U.S. output of oil and gas.

Light Louisiana Sweet WTC-LLS for March delivery rose 50 cents to a midpoint of a $3.70 premium and was seen bid and offered between a $3.50 and $3.90 a barrel premium to U.S. crude futures CLc1

Mars Sour WTC-MRS rose 45 cents to a midpoint of a $2.25 premium and was seen bid and offered between a $2.15 and $2.35 a barrel premium to U.S. crude futures CLc1

WTI Midland WTC-WTM was steady at a midpoint of a $1.20 premium and was seen bid and offered between a $1.10 and $1.30 a barrel premium to U.S. crude futures CLc1

West Texas Sour WTC-WTS fell 2 cents to a midpoint of a 78-cent premium and was seen bid and offered between a 65-cent and 90-cent a barrel premium to U.S. crude futures CLc1

WTI at East Houston WTC-MEH, also known as MEH, traded between a $1.45 and $1.65 a barrel premium to U.S. crude futures CLc1

ICE Brent April futures LCOc1 fell 28 cents to settle at $74.74 a barrel

WTI March crude CLc1 futures fell 55 cents to settle at $70.74 a barrel

The Brent/WTI spread WTCLc1-LCOc1 widened 12 cents to to last trade at minus $4.00, after hitting a high of minus $3.86 and a low of minus $4.04