US Cash Crude-Grades ease on second full day of roll trade, refining demand slips

March 24 (Reuters) - U.S. crude oil differentials fell on Monday, the second full day of the cash roll period that traders use to square their positions, dealers said.

The roll trade period, which traders use to adjust slates, began on Thursday afternoon and will continue for three full days. Trading tends to be more volatile during the roll period.

The cash roll for April to May traded at 45 cents.

U.S. oil refiners are expected to have about 1.6 million barrels per day of capacity offline in the week ending March 28, decreasing available refining capacity by 216,000 bpd, research company IIR Energy said.

Offline capacity is expected to fall to 1.5 million bpd in the week ending April 4, IIR added.

Meanwhile, U.S. President Donald Trump said on Monday that any country that buys oil or gas from Venezuela will pay a 25% tariff on any trades made with the United States.

China, which already has been the subject of U.S. tariffs, is the largest buyer of Venezuela's oil. Spain, Italy, Cuba and India are other consumers.

Light Louisiana Sweet WTC-LLS for April delivery fell 45 cents to a midpoint of a $2.05 premium and was seen bid and offered between a $1.50 and $2.60 a barrel premium to U.S. crude futures CLc1

Mars Sour WTC-MRS fell 55 cents to a midpoint of a 30-cent premium and was seen bid and offered between a 20-cent and 40-cent a barrel premium to U.S. crude futures CLc1

WTI Midland WTC-WTM was steady at a midpoint of a $1 premium and was seen bid and offered between an 80-cent and $1.20 a barrel premium to U.S. crude futures CLc1

West Texas Sour WTC-WTS fell 50 cents to a midpoint of a 50-cent discount and was seen bid and offered between a 60-cent and 40-cent a barrel discount to U.S. crude futures CLc1

WTI at East Houston WTC-MEH, also known as MEH, traded between a $1.40 and $1.60 a barrel premium to U.S. crude futures CLc1

ICE Brent May futures LCOc1 rose 84 cents to settle at $73 a barrel

WTI May crude CLc1 futures rose 83 cents to settle at $69.11 a barrel

The Brent/WTI spread WTCLc1-LCOc1 widened 1 cents to last trade at minus $3.89, after hitting a high of minus $3.81 and a low of minus $3.90