US Cash Crude-Grades little changed as WTI/Brent spread holds steady

HOUSTON, Dec 3 (Reuters) - U.S. cash crude grades largely eased on Thursday, dealers said, as the spread between U.S. West Texas Intermediate crude and global benchmark Brent narrowed to below minus $4.

WTI Midland eased 5 cents, while WTI at East Houston, also known as MEH, weakened 10 cents. Mars Sour eased 60 cents.

The spread between WTI and Brent was last seen trading at minus $3.95. A spread narrower than minus $4 discourages exports.

Saudi Arabia has cut the January Arab Light crude oil official selling price to Asia to $0.60 a barrel above the Oman/Dubai average, its lowest level in five years, according to a pricing document reviewed by Reuters, a move that could reduce demand for U.S. crude to Asia.

• Light Louisiana Sweet for January delivery eased 30 cents to a midpoint of a $1.65 premium and was seen bid and offered between a $1.30 and $2.00 a barrel premium to U.S. crude futures CLc1 ​

• Mars Sour eased 60 cents to a midpoint of a $1.1 discount and was seen bid and offered between a $1.30 and 90-cent a barrel discount to U.S. crude futures CLc1 ​

• WTI Midland eased 5 cents at a midpoint of a 60-cent premium and was seen bid and offered between a 40-cent and 80-cent a barrel premium to U.S. crude futures CLc1 ​

• West Texas Sour gained 5 cents at a midpoint of a 90-cent discount and was seen bid and offered between a $1.00 and 80-cent a barrel discount to U.S. crude futures CLc1 ​

• WTI at East Houston, also known as MEH, traded between a 60-cent and $1.00 a barrel premium to U.S. crude futures CLc1

• ICE Brent February futures LCOc1 rose 59 cents to settle at $63.26 a barrel on Thursday​.

• WTI January crude CLc1 futures rose 72 cents to settle at $59.67 a barrel on Thursday​.

• The Brent/WTI spread narrowed 6 cents to last trade at minus $3.95, after hitting a high of minus $3.93 and a low of minus $4.01.