US Cash Crude-Crude grades largely strengthen as WTI/Brent spread widens
May 29 (Reuters) - U.S. cash crude grades largely strengthened on Thursday, dealers said, as U.S. crude's discount to the international benchmark Brent widened.
A wider spread encourages foreign buying of U.S. crude. U.S. crude futures' discount to Brent WTCLc1-LCOc1 widened to as much as minus $3.25 a barrel on Thursday.
Mars Sour WTC-MRS strengthened for the fifth consecutive session, firming 25 cents at a midpoint of a $1.2 premium.
Inland grades WTI Midland WTC-WTM and West Texas Sour WTC-WTS also strengthened.
In U.S. supply, U.S. crude inventories fell by 2.8 million barrels to 440.4 million barrels in the week ending May 23, the Energy Information Administration said on Thursday.EIA/S
Oil futures fell over 1% on Thursday, retreating from earlier gains, as investors weighed the potential effects of a U.S. court ruling that blocked the most sweeping of President Donald Trump's tariffs. O/R
* Light Louisiana Sweet WTC-LLS for July delivery was little changed at a midpoint of a $2.15 premium and was seen bid and offered between a $2.00 and $2.30 a barrel premium to U.S. crude futures CLc1
* Mars Sour WTC-MRS strengthened 25 cents at a midpoint of a $1.2 premium and was seen bid and offered between a $1.10 and $1.3 a barrel premium to U.S. crude futures CLc1
* WTI Midland WTC-WTM strengthened 5 cents at 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 strengthened 5 cents at a midpoint of a 5-cent premium and was seen bid and offered between a discount of 10 cents 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 70-cent and 90-cent a barrel premium to U.S. crude futures CLc1
* ICE Brent July futures LCOc1 fell 75 cents to settle at $64.15 a barrel
* WTI July crude CLc1 futures fell 90 cents to settle at $60.94 a barrel
* The Brent/WTI spread WTCLc1-LCOc1 widened to last trade at minus $3.22, after hitting a high of minus $3.01 and a low of minus $3.24.
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