US Cash Crude-Grades slip on a narrower WTI/Brent spread, supply glut worries

Oct 14 (Reuters) - Grades eased slightly on Tuesday, dealers said, on a narrower spread between WTI and Brent, and as the International Energy Agency forecast a large global supply glut next year.

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

The world oil market faces an even bigger surplus next year of as much as 4 million barrels per day as OPEC+ producers and rivals lift output and demand remains sluggish, the International Energy Agency predicted on Tuesday.

Meanwhile, executives of two oil companies warned this week that tariffs resulting from the U.S. administration's trade policies were driving up costs across the energy production chain and affecting investment decisions.

The spread between WTI and Brent also narrowed to about minus $4.06, the smallest in over 10 days.

U.S. crude oil stockpiles were expected to have risen last week, while gasoline and distillate inventories likely fell, a preliminary Reuters poll showed on Tuesday.

• Light Louisiana Sweet for November delivery was unchanged at 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 5 cents to a midpoint of a 75-cent discount and was seen bid and offered between a $1.00 and 50-cent a barrel discount to U.S. crude futures CLc1
  ​

• WTI Midland eased 5 cents to a midpoint of a 70-cent premium and was seen bid and offered between a 50-cent and 90-cent a barrel premium to U.S. crude futures CLc1
  ​

• West Texas Sour was unchanged at a midpoint of a 10-cent discount and was seen bid and offered between a discount of 30 cents​​ and 10-cent a barrel premium to U.S. crude futures CLc1 ​

• WTI at East Houston, also known as MEH, traded between a 75-cent and $1.25 a barrel premium to U.S. crude futures CLc1

• ICE Brent December futures LCOc1 fell 93 cents to settle at $62.39 a barrel on Tuesday​.

• WTI November crude CLc1 futures fell 79 cents to settle at $58.70 a barrel on Tuesday​.

• The Brent/WTI spread narrowed 19 cents to last trade at minus $4.06, after hitting a high of minus $4.05 and a low of minus $4.25.