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US Cash Crude-Grades mixed as crude stocks rise, domestic refinery demand grows

ReutersApr 16, 2025 8:55 PM

- Physically traded U.S. crude grades were mixed on Wednesday, dealers said, as buyers contended with growing refinery demand as well as a rise in crude inventories.

U.S. oil refiners are expected to have about 1.6 million barrels per day of capacity offline in the week ending April 18, increasing available refining capacity by 170,000 bpd, research company IIR Energy said.

Offline capacity is expected to fall to 1.2 million bpd in the week ending April 25, IIR added.

On the supply side, U.S. crude stocks rose last week despite a major increase in exports, while fuel inventories fell, the Energy Information Administration said.

Crude inventories rose by 515,000 barrels to 442.9 million barrels in the week ended April 11, the EIA said, compared with analysts' expectations in a Reuters poll for a 507,000-barrel rise.

Light Louisiana Sweet WTC-LLS for May delivery rose 10 cents to a midpoint of a $2.25 premium and was seen bid and offered between a $2.00 and $2.50 a barrel premium to U.S. crude futures CLc1

Mars Sour WTC-MRS fell 60 cents to a midpoint of a 90-cent premium and was seen bid and offered between an 80-cent and $1 a barrel premium to U.S. crude futures CLc1

WTI Midland WTC-WTM fell 5 cents to a midpoint of a 85-cent premium and was seen bid and offered between a 75-cent and 95-cent a barrel premium to U.S. crude futures CLc1

West Texas Sour WTC-WTS rose 3 cents to a midpoint of a 23-cent premium and was seen bid and offered between a 15-cent and 30-cent a barrel premium to U.S. crude futures CLc1

WTI at East Houston WTC-MEH, also known as MEH, traded between a $1.15 and $1.35 a barrel premium to U.S. crude futures CLc1

ICE Brent June futures LCOc1 rose $1.18 to settle at $65.85 a barrel

WTI May crude CLc1 futures rose $1.14 to settle at $62.47 a barrel

The Brent/WTI spread WTCLc1-LCOc1 widened 9 cents to last trade at minus $4.01, after hitting a high of minus $3.91 and a low of minus $4.05

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