US Cash Crude-Grades steady as investors weigh supply factors

Oct 3 (Reuters) - Grades were little changed on Friday, dealers said, as investors weighed supply dynamics, and as the WTI/Brent spread held steady.

WTI Midland and WTI at East Houston, also known as MEH, were unchanged, while Mars Sour weakened 5 cents.

U.S. crude futures' discount to Brent widened to minus $4 a barrel. A spread above minus $4 makes U.S. grades more attractive to foreign buyers.

Eight OPEC+ countries are likely to further raise oil output on Sunday with the group’s leader Saudi Arabia pushing for a large increase to regain market share and Russia suggesting a more modest rise, four people with knowledge of OPEC+ talks said.

Meanwhile, U.S. oil rigs fell by two to 422 this week, Baker Hughes said.

Exports of U.S. crude oil climbed to the highest level in over a year and a half in September, ship tracking data showed, as U.S. refineries began seasonal maintenance and Asian demand increased.

In refining news, Chevron's 285,000-barrel-per-day El Segundo refinery in Southern California had taken multiple units offline on Friday after a large fire erupted in a jet fuel production unit, disrupting supply in the Golden State's isolated energy market.

• • Light Louisiana Sweet for November delivery firmed 7 cents to a midpoint of a $2.30 premium and was seen bid and offered between a $2.10 and $2.50 a barrel premium to U.S. crude futures CLc1 ​

  • Mars Sour eased 5 cents to a midpoint of a 60-cent discount and was seen bid and offered between a 75-cent and 45-cent a barrel discount to U.S. crude futures CLc1 ​

  • WTI Midland was unchanged 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 was unchanged at a midpoint of a parity and was seen bid and offered between a discount of 15 cents​​ and 15-cent a barrel premium to U.S. crude futures CLc1 ​

  • WTI at East Houston , also known as MEH, traded between a 95-cent and $1.15 a barrel premium to U.S. crude futures CLc1 ​

  • ICE Brent December futures LCOc1 rose 42 cents to settle at $64.53 a barrel on Friday​.

  • WTI November crude CLc1 futures rose 40 cents to settle at $60.88 a barrel on Friday​.

  • The Brent/WTI spread widened 5 cents to last trade at minus $4.00, after hitting a high of minus $3.94 and a low of minus $4.02.