US Cash Crude-Midland, Mars weaken on final day of roll trade
June 25 (Reuters) - Cash prices for WTI Midland WTC-WTM, a key sweet grade in the U.S., stayed at their weakest since October 2021 on Wednesday, the final day of the cash roll trade, dealers said.
WTI Midland WTC-WTM was little changed at a midpoint of a 15-cent discount to U.S. crude futures CLc1.
Mars Sour WTC-MRS weakened 50 cents at a midpoint of a 50-cent discount, the weakest since November 2024.
The roll trading period ended on Wednesday, a typically volatile three-day trading period during which traders square their positions. The roll begins after the U.S. front-month futures contract expires.
Meanwhile, U.S. crude's discount to the international benchmark Brent WTCLc1-LCOc1 narrowed to $2.62 a barrel, the narrowest since June 13. A narrower spread discourages foreign buying of U.S. grades.
In U.S. supply, U.S. crude oil inventories fell by 5.8 million barrels to 415.1 million barrels in the week ending June 20, Energy Information Administration data showed. Analysts had expected a 797,000-barrel draw.
* Light Louisiana Sweet WTC-LLS for July delivery was little changed at a midpoint of a $2.30 premium and was seen bid and offered between a $2.00 and $2.60 a barrel premium to U.S. crude futures CLc1
* Mars Sour WTC-MRS weakened 50 cents at a midpoint of a 50-cent discount and was seen bid and offered between a 60-cent and 40-cent a barrel discount to U.S. crude futures CLc1
* WTI Midland WTC-WTM was little changed at a midpoint of a 15-cent discount and was seen bid and offered between a 25-cent and 5-cent a barrel discount to U.S. crude futures CLc1
* West Texas Sour WTC-WTS strengthened 10 cents at a midpoint of a 65-cent discount and was seen bid and offered between a 75-cent and 55-cent a barrel discount to U.S. crude futures CLc1
* WTI at East Houston WTC-MEH, also known as MEH, traded between a discount of 20 cents and parity to U.S. crude futures CLc1
* ICE Brent August futures LCOc1 rose 54 cents to settle at $67.68 a barrel
* WTI August crude CLc1 futures rose 55 cents to settle at $64.92 a barrel
* The Brent/WTI spread WTCLc1-LCOc1 narrowed to last trade at minus $2.74, after hitting a high of minus $2.72 and a low of minus $2.85
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