US Cash Crude-Grades ease on narrower WTI/Brent spread

Oct 1 (Reuters) - U.S. crude grades broadly eased on Wednesday, dealers said, as the spread between U.S. crude and Brent narrowed.

WTI Midland weakened 5 cents, while WTI at East Houston, also known as MEH, weakened 10 cents. Mars Sour eased 20 cents.

The WTI/Brent spread narrowed 10 cents to last trade at minus $3.97, after hitting a high of minus $3.94 and a low of minus $4.09.

U.S. crude oil, gasoline and distillate inventories rose last week as refining activity and demand softened, the Energy Information Administration said on Wednesday.

Crude inventories rose by 1.8 million barrels to 416.5 million barrels in the week ended September 26, the EIA said, compared with analysts' expectations in a Reuters poll for a 1 million-barrel rise.

On the supply side, U.S. oil production growth will stall if prices stay near $60 per barrel, as fewer drilling sites are profitable at that level, the CEO of Diamondback Energy FANG.O,one of the country's top oil producers, said on Wednesday.

• Light Louisiana Sweet for November delivery rose 10 cents to a midpoint of a $2.30 premium and was seen bid and offered between a $2.15 and $2.45 a barrel premium to U.S. crude futures CLc1 ​

• Mars Sour eased 20 cents at a midpoint of a 55-cent discount and was seen bid and offered between a 75-cent and 35-cent a barrel discount to U.S. crude futures CLc1 ​

• WTI Midland weakened 5 cents to a midpoint of a 85-cent premium and was seen bid and offered between a 70-cent and $1.00 a barrel premium to U.S. crude futures CLc1 ​

• West Texas Sour gained 15 cents to a midpoint of a 20-cent premium and was seen bid and offered between parity and 40-cent​ a barrel premium to U.S. crude futures CLc1 ​

• WTI at East Houston, also known as MEH, traded between a $1.00 and $1.30 a barrel premium to U.S. crude futures CLc1

• ICE Brent December futures LCOc1 fell 68 cents to settle at $65.35 a barrel on Wednesday​.

• WTI November crude CLc1 futures fell 59 cents to settle at $61.78 a barrel on Wednesday​.

• The WTI/Brent spread narrowed 10 cents to last trade at minus $3.97, after hitting a high of minus $3.94 and a low of minus $4.09.