US Cash Crude-Grades largely ease in volatile trading period

HOUSTON, Jan 21 (Reuters) - Grades largely eased on Wednesday, dealers said, on the second day of the volatile roll trading period.

Traders use the three-day roll period to adjust their crude slates, square up positions and net out exposures following the expiration of the U.S. crude futures contract.

Prices to roll U.S. crude oil futures positions from February to March traded at 20 cents a barrel.

The spread between WTI and Brent was little changed to settle at $4.59. A spread larger than minus $4 typically encourages export demand.

Venezuelan oil exports under a flagship $2 billion supply deal with the U.S. reached about 7.8 million barrels on Wednesday, vessel-tracking data and documents from state-run PDVSA showed, with shipments accelerating after the U.S. eased its blockade but not enough for PDVSA to fully reverse output cuts.

Kazakhstan's CPC oil exports could remain restricted even as extensive maintenance on its primary oil export route wraps up, sources said on Wednesday, with force majeure declared following a fire at the country's largest oilfield, Tengiz.

U.S. crude and gasoline stocks rose while distillate inventories fell last week, market sources said, citing American Petroleum Institute figures on Wednesday.

Crude stocks rose by 3.04 million barrels in the week ended January 16, the sources said on condition of anonymity.

• Light Louisiana Sweet for February delivery eased 65 cents to a midpoint of a $1.35 premium and was seen bid and offered between a $1.20 and $1.50 a barrel premium to U.S. crude futures. CLc1 ​

• Mars Sour eased 25 cents to a midpoint of a 25-cent discount and was seen bid and offered between a discount of minus 50 cents​​ and flat to U.S. crude futures CLc1

• WTI Midland eased 20 cents to a midpoint of a 75-cent premium and was seen bid and offered between an 50-cent and $1 a barrel premium to U.S. crude futures CLc1

• West Texas Sour eased 40 cents to a midpoint of a $3.25 discount and was seen bid and offered between a $3.50 and $3 a barrel discount to U.S. crude futures CLc1 ​

• WTI at East Houston, also known as MEH, traded between a 90-cent and a $1.30 a barrel premium to U.S. crude futures CLc1

• ICE Brent March futures LCOc1 rose 32 cents to $65.24 a barrel on Tuesday​.

• WTI March crude CLc1 futures rose 26 cents to $60.62 a barrel on Tuesday

• The Brent/WTI spread narrowed to last trade at minus $4.62, after hitting a high of minus $4.39 and a low of minus $4.64