US Cash Crude-Coastal grades firm as WTI/Brent spread widens
Aug 19 (Reuters) - Coastal crude differentials strengthened on Tuesday as U.S. crude futures' discount to the international benchmark Brent widened to its most since June.
Mars rose 50 cents, while Light Louisiana Sweet rise 10 cents on Tuesday.
West Texas Intermediate crude futures' (WTI) discount to Brent WTCLc1-LCOc1 widened to as much as minus $4.02 a barrel, the most since June 13. A wider spread makes U.S. grades more attractive to foreign buyers.
U.S. crude and gasoline inventories fell last week, while distillate stockpiles rose, market sources said, citing American Petroleum Institute figures on Tuesday.
Crude stocks fell by 2.42 million barrels in the week ended on August 15, the sources said on condition of anonymity. Gasoline inventories fell by 956,000 barrels, while distillate inventories rose by 535,000 barrels from last week, they said.
In refining news, BP BP.L said on Tuesday that operations at its 440,000-barrel-per-day refinery in Whiting, Indiana, were affected due to flooding caused by a severe thunderstorm overnight.
* Light Louisiana Sweet WTC-LLS for September delivery firmed 10 cents to a midpoint of a $1.85 premium and was seen bid and offered between a $1.65- and $2.05-a-barrel premium to U.S. crude futures CLc1
* Mars Sour WTC-MRS firmed 50 cents to a midpoint of a 25-cent discount and was seen bid and offered between a discount of 50 cents and parity to U.S. crude futures CLc1
* WTI Midland WTC-WTM eased 5 cents to a midpoint of a 85-cent premium and was seen bid and offered between a 65-cent and a $1.05-a-barrel premium to U.S. crude futures CLc1
* West Texas Sour WTC-WTS firmed 15 cents to a midpoint of a 5-cent premium and was seen bid and offered between a discount of 10 cents and a 20-cent-a-barrel premium to U.S. crude futures CLc1
* WTI at East Houston WTC-MEH, also known as MEH, traded between a $1.10- and $1.50-a-barrel premium to U.S. crude futures CLc1
* ICE Brent October futures LCOc1 fell 81 cents to $65.79 a barrel on Tuesday.
* WTI September crude CLc1 futures fell $1.07 to $62.35 a barrel on Tuesday. O/R
* The Brent/WTI spread WTCLc1-LCOc1 last traded at minus $4.02, after hitting a high of minus $3.87.
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