U.S. Cash Crude-Grades mixed at the end of first week in 2023

Reuters · 01/06/2023 21:33
U.S. Cash Crude-Grades mixed at the end of first week in 2023

- Mars Sour eased on Friday in light trading as U.S. crude's discount to Brent , while WTI Midland WTC-WTM strengthened on easing supply, dealers said.

Mars Sour WTC-MRS fell 50 cents to a midpoint of a discount of a $4.90 as U.S. crude's discount to Brent to minus $4.53 a barrel. A spread makes U.S.-linked crudes less attractive to foreign buyers.

WTI Midland WTC-WTM rose 5 cents to a midpoint of a 65-cent premium, as U.S. oil rigs fell three to 618 this week, their lowest since November. RIG/U

U.S. shale producer EOG Resources Inc EOG.N said it anticipates its activity in the Permian Basin to be flat this year, as supplies and equipment remain expensive and as it focuses on shareholder returns.

Volumes have been weak in the cash markets as trade is only beginning to pick up in the year after a thin holiday season.

In refining , the largest U.S. crude oil refinery, Motiva Enterprises MOTIV.UL 626,000 barrel-per-day (bpd) Port Arthur, Texas plant, returned to production late last week, sources said.

Valero Energy Corp's VLO.N 335,000 barrel-per-day (bpd) Port Arthur, Texas refinery also reached full production on Sunday, people said.

Lyondell Basell Industries' LYB.N Houston refinery is operating at about half its 263,776-barrel-per-day (bpd) capacity because of a shut coker, sources said.


* Light Louisiana Sweet WTC-LLS for February delivery rose 20 cents to a midpoint of a $1.80 premium and traded between a $1.60 and $2 a barrel premium to U.S. crude futures CLc1.

* Mars Sour WTC-MRS fell 50 cents to a midpoint of a discount of a $4.90 discount and traded between a $4.70 and a $5.10 a barrel discount to U.S. crude futures CLc1.

* WTI Midland WTC-WTM rose 5 cents to a midpoint of a 65 cent premium and traded between a 50 cent and an 80-cent a barrel premium to U.S. crude futures CLc1.

* West Texas Sour WTC-WTS dropped $1.20 to a midpoint of a$3.65 discount and traded between a $3.50 and a $3.80 a barrel discount to U.S. crude futures CLc1.

* WTI at East Houston, also known as MEH, traded between 70 cents and $1.10 over WTI.

* ICE Brent March LCOc1 futures fell 12 cents to settle at $78.57 a barrel.

* WTI February crude CLc1 futures rose 10 cents to settle at $73.77 a barrel.

* The Brent/WTI spread WTCLc1-LCOc1 widened 24 cents to settle at minus $4.53, after hitting a high of minus $4.46 and a low of minus $4.90.



(Reporting by Arathy Somasekhar; editing by Diane Craft)

((arathy.s@thomsonreuters.com; +1 832 208 3362; Twitter: @ArathySom;))