US Cash Crude-WTI Midland strengthens as WTI/Brent spread widens again
Aug 14 (Reuters) - Cash crude differentials for WTI Midland broadly strengthened on Thursday as U.S. crude's discount to the international benchmark Brent widened to its most since mid-June.
U.S. crude futures' discount to Brent widened to as much as minus $3.82 a barrel, the most since June 13. A wider spread makes U.S. grades more attractive to foreign buyers.
Further, Phillips 66 PSX.N has reduced gasoline output at its 258,000 barrels-per-day Bayway refinery in Linden, New Jersey, after a fire near the plant's gasoline-producing unit, two people familiar with the matter said on Thursday.
WTI Midland WTC-WTM strengthened at a midpoint of a 75-cent premium to U.S. crude futures CLc1, the strongest since April.
WTI at East Houston WTC-MEH, also known as MEH, traded between a $1.15 and $1.35 a barrel premium to U.S. crude futures CLc1, its strongest since April.
Light Louisiana Sweet WTC-LLS weakened to a midpoint of a 75-cent premium, its weakest since July 29.
* Light Louisiana Sweet WTC-LLS for September delivery weakened $1.00 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
* Mars Sour WTC-MRS weakened 20 cents at 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 Midland WTC-WTM strengthened 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 was little changed at a midpoint of a 10-cent discount and was seen bid and offered between discount of 20 cents and parity to U.S. crude futures CLc1
* WTI at East Houston WTC-MEH, also known as MEH, traded between a $1.15 and $1.35 a barrel premium to U.S. crude futures CLc1
* ICE Brent October futures LCOc1 rose $1.21 to settle at $66.84 a barrel
* WTI September crude CLc1 futures rose $1.31 to settle at $63.96 a barrel
* The Brent/WTI spread WTCLc1-LCOc1 widened to last trade at minus $3.81, after hitting a high of minus $3.70 and a low of minus $3.82
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