US Cash Crude-Grades little changed as WTI/Brent arb remains range bound
Nov 20 (Reuters) -U.S. cash crude prices were little changed on Wednesday, dealers said, as the spread between U.S. West Texas Intermediate crude and Brent remained range bound.
The WTI/Brent spread WTCLc1-LCOc1 narrowed 5 cents to last trade at minus $4.02, after hitting a high of minus $3.95 and a low of minus $4.06.
U.S. crude inventories rose by 545,000 barrels to 430.3 million barrels last week, the EIA said, compared with analysts' expectations in a Reuters poll for a 138,000-barrel rise.
Gasoline inventories rose while distillate stockpiles fell in the week ending Nov. 15.
Meanwhile, Norway's Equinor EQNR.OL said it had restored full output capacity at the Johan Sverdrup oilfield in the North Sea following a power outage.
In refining news, U.S. oil refiners are expected to have about 484,000 barrels per day of capacity offline in the week ending Nov. 22, raising available refining capacity by 123,000 bpd, research company IIR Energy said on Wednesday.
* Light Louisiana Sweet WTC-LLS for December delivery was unchanged at a midpoint of a $1.70 premium and was seen bid and offered between a $1.60 and $1.80 a barrel premium to U.S. crude futures CLc1
* Mars Sour WTC-MRS was unchanged at a midpoint of a 30-cent discount and was seen bid and offered between a 50-cent and 10-cent a barrel discount to U.S. crude futures CLc1
* WTI Midland WTC-WTM was unchanged at a midpoint of a $1.10 premium and was seen bid and offered between a 90-cent and $1.30 a barrel premium to U.S. crude futures CLc1
* West Texas Sour WTC-WTS gained 15 cents to a midpoint of a 15-cent discount and was seen bid and offered between a 30 cent discount and flat to a barrel of U.S. crude futures CLc1
* WTI at East Houston WTC-MEH, also known as MEH, traded between a $1.20 and $1.80 a barrel premium to U.S. crude futures CLc1
* ICE Brent January futures LCOc1 fell 50 cents to settle at $72.81 a barrel on Wednesday.
* WTI January crude CLc1 futures rose 29 cents and is currently trading at $69.04 a barrel on Wednesday.
* The Brent/WTI spread WTCLc1-LCOc1 narrowed 5 cents to last trade at minus $4.02, after hitting a high of minus $3.95 and a low of minus $4.06.
Reporting by Arathy Somasekhar in Houston; Editing by Marguerita Choy and Sonali Paul
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