US Cash Crude-Sweet grades weaken to multi-month lows on second day of roll

April 24 (Reuters) - U.S. sweet crude grades weakened on Thursday, dealers said, on the second day of the "roll" trade, a period in which the market becomes more volatile as traders square their positions.

The three-day roll trade begins after the front-month U.S. crude futures contract CLc1 expires.

Light Louisiana Sweet WTC-LLS for May delivery weakened 30 cents at a midpoint of a $1.65 premium, the weakest since December. WTI Midland WTC-WTM weakened 5 cents at a midpoint of a 75-cent premium, the weakest since January.

In futures, oil prices edged up on Thursday as investors weighed a weaker U.S. dollar, potential OPEC+ output increase, mixed economic news, conflicting U.S. tariff signals and news from the Russia-Ukraine war.

Abroad, Iranian Foreign Minister Abbas Araqchi said on Thursday he was ready to travel to Europe for talks on Tehran's nuclear program. France indicated European powers were ready for dialogue if Tehran showed it was seriously engaged.

Successful talks with Europe and the U.S. would likely result in the lifting of sanctions on Iranian oil exports. Iran is the third biggest oil producer in OPEC behind Saudi Arabia and Iraq.

Light Louisiana Sweet WTC-LLS for May delivery weakened 30 cents at a midpoint of a $1.65 premium and was seen bid and offered between a $1.55 and $1.75 a barrel premium to U.S. crude futures CLc1

Mars Sour WTC-MRS was little changed at a midpoint of a $1.25 premium and was seen bid and offered between a $1.15 and $1.35 a barrel premium to U.S. crude futures CLc1

WTI Midland WTC-WTM weakened 5 cents at a midpoint of a 75-cent premium and was seen bid and offered between a 65-cent and 85-cent a barrel premium to U.S. crude futures CLc1

West Texas Sour WTC-WTS strengthened 5 cents at a midpoint of a 15-cent premium and was seen bid and offered between a 5-cent and 25-cent a barrel premium to U.S. crude futures CLc1

WTI at East Houston WTC-MEH, also known as MEH, traded between an 85-cent and $1.05 a barrel premium to U.S. crude futures CLc1

ICE Brent June futures LCOc1 rose 43 cents to settle at $66.55 a barrel

WTI June crude CLc1 futures rose 52 cents to settle at $62.79 a barrel

The Brent/WTI spread WTCLc1-LCOc1 narrowed to last trade at minus $3.74, after hitting a high of minus $3.71 and a low of minus $3.87