US Cash Crude-Grades rise on firmer refinery demand, wide WTI/Brent spread

HOUSTON, Jan 16 (Reuters) - Grades broadly rose on Friday, dealers said, as domestic refinery demand was set to grow and the WTI/Brent spread widened.

U.S. oil refiners are expected to have about 724,000 barrels per day of capacity offline in the week ending January 16, decreasing available refining capacity by 450,000 bpd, research company IIR Energy said on Friday.

Offline capacity is expected to rise to 1.1 million in the week ending January 23, IIR said.

The spread between WTI and Brent supported prices, widening to as much as minus $4.76 during the session. A spread larger than minus $4 typically encourages export demand, driving prices higher.

• Light Louisiana Sweet for February delivery was steady at a midpoint of a $2 premium and was seen bid and offered between a $1.75 and $2.25 a barrel premium to U.S. crude futures CLc1

• Mars Sour rose 65 cents to a midpoint of a 25-cent discount and was seen bid and offered between a 35-cent and 15-cent a barrel discount to U.S. crude futures CLc1 ​

• WTI Midland rose 10 cents to a midpoint of a $1.10 premium and was seen bid and offered between a $1.00 and $1.20 a barrel premium to U.S. crude futures CLc1 ​

• West Texas Sour rose 50 cents to a midpoint of a $2.15 discount and was seen bid and offered between a $2.25 and $2.05 a barrel discount to U.S. crude futures CLc1

• WTI at East Houston, also known as MEH, traded between a $1.25 and $1.45 a barrel premium to U.S. crude futures CLc1 ​

• ICE Brent March futures LCOc1 rose 37 cents to settle at $64.13 a barrel

• WTI February crude CLc1 futures rose 25 cents to settle at $59.44 a barrel

• The Brent/WTI spread widened 10 cents and last traded at minus $4.78, after hitting a high of minus $4.62 and a low of minus $4.79