US Cash Crude-Mars sour rises after Keystone oil pipeline goes offline
April 8 (Reuters) - U.S. cash crude prices were mixed on Tuesday, dealers said, with the Mars Sour grade premium to U.S. crude futures doubling from a day earlier after a key pipeline shipping heavy, sour Canadian crude to feed U.S. refineries went offline.
The Keystone oil pipeline from Canada to the U.S. was shut on Tuesday after an oil spill near Fort Ransom, North Dakota, its operator South Bow SOBO.TO and the state's Department of Environmental Quality said.
Some U.S. refiners, especially in the Midwest, rely heavily on the type of oil produced in Canada and delivered by Keystone.
Meanwhile, U.S. crude oil and distillate inventories fell, while gasoline stocks rose last week, market sources said, citing American Petroleum Institute figures on Tuesday.
Crude stocks fell by 1.1 million barrels in the week ended April 4, the sources said on condition of anonymity. Gasoline inventories rose by 210,000 barrels and distillate stocks fell by 1.8 million barrels, they said.
Light Louisiana Sweet WTC-LLS for May delivery rose 15 cents to a midpoint of a $2.45 premium and was seen bid and offered between a $2.25 and $2.65 a barrel premium to U.S. crude futures CLc1
Mars Sour WTC-MRS rose 50 cents to a midpoint of a $1 premium and was seen bid and offered between a 90-cent and $1.10 a barrel premium to U.S. crude futures CLc1
WTI Midland WTC-WTM fell 10 cents to a midpoint of a 95-cent premium and was seen bid and offered between a 85-cent and $1.05 a barrel premium to U.S. crude futures CLc1
West Texas Sour WTC-WTS rose 45 cents to a midpoint of a 15-cent premium and was seen bid and offered between a 5-cent and 25-cent a barrel premium to U.S. crude futures CLc1
WTI at East Houston WTC-MEH, also known as MEH, traded between a $1.25 and $1.65 a barrel premium to U.S. crude futures CLc1
ICE Brent June futures LCOc1 fell $1.39 to settle at $62.82 a barrel
WTI May crude CLc1 futures fell $1.12 to settle at $59.58 a barrel
The Brent/WTI spread WTCLc1-LCOc1 was flat, last trading at minus $3.77, after hitting a high of minus $3.61 and a low of minus $3.82
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