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US Cash Crude-Grades little changed, Mars steady at three-week lows

ReutersMar 17, 2025 7:24 PM

- U.S. cash crude grades were little changed on Monday, dealers said, with Mars holding steady at its lowest level in nearly three weeks.

Mars Sour WTC-MRS traded at a $1 premium to U.S. West Texas Intermediate crude after surging in recent weeks on worries of a heavy crude shortage due to U.S. President Donald Trump's tariffs on Mexico and Canada.

Investors were also weighing the impact of the U.S. attacks on Yemen's Houthis until the Iran-aligned group ends its assaults on shipping.

Meanwhile, U.S. crude oil stockpiles were expected to have risen by about 900,000 barrels last week, while distillate and gasoline inventories likely fell, a preliminary Reuters poll showed on Monday.

Industry data is expected on Tuesday, while official government data is expected on Wednesday.

U.S. oil refiners are expected to have about 1.1 million barrels per day of capacity offline in the week ending March 21, decreasing available refining capacity by 409,000 bpd, research company IIR Energy said on Monday.

Light Louisiana Sweet WTC-LLS for April delivery eased 15 cents to a midpoint of a $2.85 premium and was seen bid and offered between a premium of $2.50 and $3.20 a barrel to U.S. crude futures CLc1

Mars Sour WTC-MRS was unchanged at a midpoint of a $1 premium and was seen bid and offered between a premium of 80 cents and $1.20 a barrel to U.S. crude futures CLc1.

WTI Midland WTC-WTM rose 5 cents to a midpoint of a $1.1 premium and was seen bid and offered between a premium of 90 cents and $1.30 a barrel to U.S. crude futures CLc1.

West Texas Sour WTC-WTS eased only 30 cents to a midpoint of a premium of 40 cents and was seen bid and offered between a premium of 20 cents and 60 cents a barrel to U.S. crude futures CLc1.

WTI at East Houston WTC-MEH, also known as MEH, traded between a premium of $1.20 and $1.50 a barrel to U.S. crude futures CLc1.

ICE Brent May futures LCOc1 rose 49 cents to settle at $71.07 a barrel on Monday.

WTI April crude CLc1 futures rose 40 cents to settle at $67.58 a barrel on Monday.

The Brent/WTI spread WTCLc1-LCOc1 widened 3 cents to last trade at minus $3.70, after hitting a high of minus $3.62 and a low of minus $3.74.

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