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

HOUSTON, Feb 9 (Reuters) - Grades were little changed on Monday, dealers said, as the WTI/Brent spread remained largely steady.

The spread between WTI and Brent widened to a discount of as much as minus $4.85 during the session. A spread larger than minus $4 typically encourages export demand, driving prices higher.

U.S. crude oil stockpiles were expected to have risen by about 950,000 barrels last week, while distillate and gasoline inventories likely fell, a preliminary Reuters poll showed on Monday.

OPEC's oil output fell in January due to lower supply from Nigeria and Libya, a Reuters survey found on Monday, which offset increases from members including Venezuela after the U.S. capture of Nicolas Maduro and the ending of an oil blockade.

Venezuela's state oil company PDVSA has reversed most output cuts at its own oilfields and joint ventures in the Orinoco Belt, the country's main crude region, boosting total output close to 1 million barrels per day, sources close to operations said.

U.S. military forces boarded a crude oil tanker in the Indian Ocean after pursuing it from the Caribbean, Defense Secretary Pete Hegseth said on Monday, accusing the vessel of breaching Washington's blockade on sanctioned vessels traveling to or from Venezuela.

In refining news, U.S. oil refiners are expected to have about 1.23 million bpd of capacity offline in the week ending February 13, increasing available refining capacity by 81,000 bpd, research company IIR Energy said on Monday.

• Light Louisiana Sweet for March delivery eased 20 cents to a midpoint of a $1.20 premium and was seen bid and offered between a $1.00 and $1.40 a barrel premium to U.S. crude futures CLc1

• Mars Sour was unchanged at a midpoint of a 90-cent discount and was seen bid and offered between a $1.10 and 70-cent a barrel discount to U.S. crude futures CLc1 ​

• WTI Midland eased 10 cents to a midpoint of a 65-cent premium and was seen bid and offered between a 45-cent and 85-cent a barrel premium to U.S. crude futures CLc1 ​

• West Texas Sour eased 15 cents to a midpoint of a $3.30 discount and was seen bid and offered between a $3.50 and $3.10 a barrel discount to U.S. crude futures CLc1 ​

• WTI at East Houston, also known as MEH, traded between a 80-cent and $1.20 a barrel premium to U.S. crude futures CLc1 ​

• ICE Brent April futures LCOc1 rose 99 cents to settle at $69.04 a barrel on Monday​.

• WTI March crude CLc1 futures rose 81 cents to settle at $64.36 a barrel on Monday​.

• The Brent/WTI spread widened 16 cents to last trade at minus $4.85, after hitting a high of minus $4.55 and a low of minus $4.85.