US Cash Crude-Grades rise as WTI/Brent spread widens, crude stocks fall

HOUSTON, Jan 27 (Reuters) - Grades broadly rose on Tuesday as the WTI/Brent spread widened and domestic crude stocks fell.

Crude stocks fell by 247,000 barrels in the week ended January 23, market sources said on condition of anonymity, citing American Petroleum Institute figures.

Gasoline inventories fell by 415,000 barrels, while distillate inventories rose by 2.01 million barrels from a week earlier, the sources said.

The spread between WTI and Brent supported prices, widening to as much as minus $5.20 during the session. A spread larger than minus $4 typically encourages export demand, driving prices higher.

• Light Louisiana Sweet for March delivery was steady at a midpoint of a $1.23 premium and was seen bid and offered between a 95-cent and $1.50 a barrel premium to U.S. crude futures CLc1 ​

• Mars Sour rose 10 cents to a midpoint of a $1.70 discount and was seen bid and offered between a $1.80 and $1.60 a barrel discount to U.S. crude futures CLc1 ​

• WTI Midland fell 5 cents to a midpoint of a 70-cent premium and was seen bid and offered between a 60-cent and 80-cent a barrel premium to U.S. crude futures CLc1 ​

• West Texas Sour rose 55 cents to a midpoint of a $2.30 discount and was seen bid and offered between a $2.40 and $2.20 a barrel discount 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 March futures LCOc1 rose $1.98 to settle at $67.57 a barrel

• WTI March crude CLc1 futures rose $1.76 to settle at $62.39 a barrel

• The Brent/WTI spread widened 14 cents to last trade at minus $5.10, after hitting a high of minus $4.85 and a low of minus $5.20