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US Cash Crude-Grades eased as US crude stocks rise more than expected

ReutersApr 29, 2025 9:52 PM

- U.S. cash crude grades eased slightly on Tuesday, dealers said, as U.S. crude stocks rose more than expected last week.

WTI Midland WTC-WTM eased 10 cents, while Mars Sour WTC-MRS eased 20 cents.

U.S. crude stocks rose by 3.8 million barrels in the week ended April 25, market sources said, citing American Petroleum Institute figures. Analysts had on average estimates a 429,000 barrel rise, according to a Reuters poll.

Gasoline inventories fell by 3.1 million barrels and distillate stocks fell by 2.5 million barrels, they said.

Meanwhile, Kazakhstan oil production was again above its OPEC+ quota this month, although it fell 3% from the March average, according to an industry source familiar with the statistics, and Reuters calculations.

Light Louisiana Sweet WTC-LLS for May delivery rose 10 cents to a midpoint of a $2.45 premium and was seen bid and offered between a $2.30 and $2.60 a barrel premium to U.S. crude futures CLc1

Mars Sour WTC-MRS eased 20 cents to a midpoint of a $1.2 premium and was seen bid and offered between a $1.00 and $1.4 a barrel premium to U.S. crude futures CLc1

WTI Midland WTC-WTM eased 10 cents to a midpoint of a 80-cent premium and was seen bid and offered between a 60-cent and $1.00 a barrel premium to U.S. crude futures CLc1

West Texas Sour WTC-WTS gained 10 cents to a midpoint of a 10-cent premium and was seen bid and offered between parity and 20-cent a barrel premium to U.S. crude futures CLc1

WTI at East Houston WTC-MEH, also known as MEH, traded between a 90-cent and $1.30 a barrel premium to U.S. crude futures CLc1

ICE Brent June futures LCOc1 fell $1.61 to settle at $64.25 a barrel on Tuesday.

WTI June crude CLc1 futures remained unchanged at $60.42 a barrel on Tuesday.

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