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US Cash Crude-Grades mixed as cold weather hits oil supply

ReutersFeb 19, 2025 11:20 PM

- Coastal grades eased, while inland grades rose on Wednesday, dealers said, as a cold snap in the U.S. hit oil supply.

Mars eased 10 cents, while WTI Midland and WTI at East Houston gained 10 cents.

The North Dakota Pipeline Authority estimated that output in the country's No. 3 producing state would be down by 100,000 to 130,000 barrels per day.

Analysts at Energy Aspects estimated that Permian production impact will be short-lived, peaking at 400,000 bpd.

Meanwhile, U.S. crude oil stocks rose by 3.34 million barrels last week, market sources said, citing American Petroleum Institute figures on Wednesday.

Globally, Russia said Caspian Pipeline Consortium oil flows, a major route for crude exports from Kazakhstan, were reduced by 30%-40% on Tuesday after a Ukrainian drone attack on a pumping station. A 30% cut would equate to the loss of 380,000 barrels per day of market supply, Reuters calculations show.

In refining news, U.S. oil refiners are expected to have about 1.25 million barrels per day of capacity offline in the week ending February 21, increasing available refining capacity by 258,000 bpd, research company IIR Energy said on Wednesday.

Light Louisiana Sweet WTC-LLS for March delivery eased 80 cents at a midpoint of a $2.90 premium and was seen bid and offered between a $2.50 and $3.30 a barrel premium to U.S. crude futures CLc1

Mars Sour WTC-MRS eased 10 cents at a midpoint of a $1.9 premium and was seen bid and offered between a $1.70 and $2.1 a barrel premium to U.S. crude futures CLc1

WTI Midland WTC-WTM gained 10 cents at a midpoint of a $1.45 premium and was seen bid and offered between a $1.30 and $1.60 a barrel premium to U.S. crude futures CLc1

West Texas Sour WTC-WTS was unchanged at a midpoint of a $1 premium and was seen bid and offered between a 80-cent and $1.20 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 $1.85 a barrel premium to U.S. crude futures CLc1

ICE Brent April futures LCOc1 rose 20 cents to settle at $76.04 a barrel on Wednesday .

WTI March crude CLc1 futures fell 7 cents and is currently trading at $72.18 a barrel on Wednesday .

The Brent/WTI spread WTCLc1-LCOc1 narrowed 7 cents to last trade at minus $3.94, after hitting a high of minus $3.90 and a low of minus $4.02.

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