US Cash Crude-Grades rise as domestic refining demand set to grow
May 14 (Reuters) - Crude grades rose on Wednesday, dealers said, with domestic refining demand expected to tick higher.
U.S. oil refiners are expected to have about 714,000 barrels per day (bpd) of capacity offline in the week ending May 16, increasing available refining capacity by 560,000 bpd, research company IIR Energy said.
Offline capacity is expected to fall to 227,000 bpd in the week ending May 23, IIR added.
On the supply side, OPEC trimmed its forecast for growth in oil supply from the United States and other producers outside the wider OPEC+ group this year and said it expected lower capital spending following a decline in oil prices.
Curbing price gains, U.S. crude stocks rose as the nation imported more oil, while gasoline and distillate inventories fell last week ahead of summer driving season, the Energy Information Administration said on Wednesday.
* Light Louisiana Sweet WTC-LLS for June delivery rose 22 cents to a midpoint of a $2.40 premium and was seen bid and offered between a $2.30 and $2.50 a barrel premium to U.S. crude futures CLc1
* Mars Sour WTC-MRS rose 20 cents to a midpoint of a $1.50 premium and was seen bid and offered between a $1.40 and $1.6 a barrel premium to U.S. crude futures CLc1
* WTI Midland WTC-WTM rose 5 cents to a midpoint of a 65-cent premium and was seen bid and offered between a 55-cent and 75-cent a barrel premium to U.S. crude futures CLc1
* West Texas Sour WTC-WTS rose 5 cents to a midpoint of a 35-cent discount and was seen bid and offered between a 45-cent and 25-cent a barrel discount to U.S. crude futures CLc1
* WTI at East Houston WTC-MEH, also known as MEH, traded between a 75-cent and 95-cent a barrel premium to U.S. crude futures CLc1
* ICE Brent July futures LCOc1 fell 54 cents to settle at $66.09 a barrel
* WTI June crude CLc1 futures fell 52 cents to settle at $63.15 a barrel
* The Brent/WTI spread WTCLc1-LCOc1 narrowed 1 cent to last trade at minus $3.37, after hitting a high of minus $3.34 and a low of minus $3.42
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