US Cash Crude-Grades slip after US crude stocks rise by more than expected
Nov 14 (Reuters) -Cash crude grades broadly fell on Thursday, dealers said, after U.S. crude stockpiles rose by more than expected last week, the Energy Information Administration (EIA) said.
U.S. crude inventories rose by 2.1 million barrels to 429.7 million barrels, versus analysts' expectations for a 750,000-barrel rise.
But capping cash crude losses, domestic gasoline stockpiles fell to their lowest levels in two years, as fuel supplies drew down unexpectedly last week amid strong demand, the EIA said.
Meanwhile, global oil supply will exceed demand in 2025 even if OPEC+ cuts remain in place, the International Energy Agency (IEA) said on Thursday, as rising production from the U.S. and other outside producers outpaces sluggish demand.
* Light Louisiana Sweet WTC-LLS for December delivery eased 10 cents at a midpoint of a $1.80 premium and was seen bid and offered between a $1.70 and $1.90 a barrel premium to U.S. crude futures CLc1
* Mars Sour WTC-MRS fell 10 cents at a midpoint of a 85-cent discount and was seen bid and offered between a 95-cent and 75-cent a barrel discount to U.S. crude futures CLc1
* WTI Midland WTC-WTM lost 10 cents at a midpoint of a 85-cent premium and was seen bid and offered between a 75-cent and 95-cent a barrel premium to U.S. crude futures CLc1
* West Texas Sour WTC-WTS gained 7 cents at a midpoint of a 53-cent discount and was seen bid and offered between a discount of $1.15 and 10-cent a barrel premium to U.S. crude futures CLc1
* WTI at East Houston WTC-MEH, also known as MEH, traded between a $1.35 and $1.55 a barrel premium to U.S. crude futures CLc1
* ICE Brent January futures LCOc1 rose 28 cents to settle at $72.56 a barrel on Thursday.
* WTI December crude CLc1 futures rose 27 cents to settle at $68.70 a barrel.
* The Brent/WTI spread WTCLc1-LCOc1 last traded at minus $4.02, after hitting a high of minus $3.96 and a low of minus $4.05.
Reporting by Georgina McCartney in Houston; Editing by Mohammed Safi Shamsi
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