US Cash Crude- Grades little changed as WTI/Brent spread steady
Aug 9 (Reuters) -Physically traded domestic U.S. crudes were little changed on Friday, dealers said, as the spread between U.S. West Texas Intermediate (WTI) crude and Brent held largely steady.
WTI Midland WTC-WTM was unchanged on Friday, while WTI at East Houston WTC-MEH, also known as MEH, eased 5 cents. Mars strengthened 20 cents.
The WTI/Brent spread WTCLc1-LCOc1 eased 12 cents to trade at $4.00. A spread narrower than minus $4 discourages foreign buying of US crude, while a spread above the level encourages purchases.
On the supply side, U.S. oil rigs, an indicator of future production, rose by three to 485 this week.
In refining, U.S. oil refiners are expected to have about 662,000 barrels per day (bpd) of capacity offline in the week ending Aug. 9, increasing available refining capacity by 5,000 bpd, research company IIR Energy said on Friday.
* Light Louisiana Sweet WTC-LLS for September delivery fell 35 cents to a midpoint of a $1.95 premium and was seen bid and offered between a $1.70 and $2.20 a barrel premium to U.S. crude futures CLc1
* Mars Sour WTC-MRS gained 20 cents at a midpoint of a 80-cent discount and was seen bid and offered between a $1.00 and 60-cent a barrel discount to U.S. crude futures CLc1
* WTI Midland WTC-WTM was unchanged at a midpoint of a 70-cent premium and was seen bid and offered between a 50-cent and 90-cent a barrel premium to U.S. crude futures CLc1
* West Texas Sour WTC-WTS was unchanged at a midpoint of a 10-cent premium and was seen bid and offered between a discount of 10 cents and 30-cent a barrel premium to U.S. crude futures CLc1
* WTI at East Houston WTC-MEH, also known as MEH, traded between a 90-cent and $1.30 a barrel premium to U.S. crude futures CLc1
* ICE Brent October futures LCOc1 rose 50 cents to settle at $79.66 a barrel on Friday.
* WTI September crude CLc1 futures rose 65 cents to settle at $76.84 a barrel on Friday.
* The Brent/WTI spread WTCLc1-LCOc1 narrowed 11 cents to minus $4.12, after hitting a high of minus $4.00 and a low of minus $4.14.
Reporting by Arathy Somasekhar in Houston; Editing by Richard Chang
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