US Cash Crude-Grades little changed as WTI/Brent spread stays wide

HOUSTON, Feb 12 (Reuters) - Coastal grades firmed on Thursday, dealers said, as the WTI/Brent spread stayed wide.

The spread between WTI and Brent traded as wide as minus $4.94 during the session. A spread larger than minus $4 typically encourages export demand, driving prices higher.

World oil demand will rise more slowly than expected this year, the International Energy Agency said, while warning the global market still faces a sizeable surplus despite outages that cut supply in January.

However, the global oil market is getting tighter despite earlier predictions of a glut, as U.S. pressure limits outlets for Russian and Iranian oil, boosting demand for oil from other sources, Vitol CEO Russell Hardy said.

• Light Louisiana Sweet for March delivery was unchanged at a midpoint of a $1.50 premium and was seen bid and offered between a $1.25 and $1.75 a barrel premium to U.S. crude futures CLc1

• Mars Sour firmed 40 cents to a midpoint of a 70-cent discount and parity between a $1.00 and 50-cent a barrel discount to U.S. crude futures CLc1 ​

• WTI Midland eased 5 cents to a midpoint of a 65-cent premium and was seen bid and offered between a 30-cent and $1.00 a barrel premium to U.S. crude futures CLc1 ​

• West Texas Sour was little changed at a midpoint of a $2.60 discount and was seen bid and offered between a $2.90 and $2.30 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 fell $1.88 to settle at $67.52 a barrel on Thursday​.

• WTI March crude CLc1 futures fell $1.79 to settle at $62.84 a barrel on Thursday​.

• The Brent/WTI spread narrowed 7 cents to last trade at minus $4.87, after hitting a high of minus $4.82 and a low of minus $4.94.