US Cash Crude-Sour grades edge down as US refinery demand falls
Sept 6 (Reuters) -U.S. crude grades were mixed on Friday, dealers said, with sour grades edging down as U.S. refinery demand is expected to retreat.
Offshore grade Mars Sour WTC-MRS fell 32.5 cents at a midpoint of a 85-cent discount to WTI crude futures CLc1, while inland grade West Texas Sour WTC-WTS fell 2.5 cents at a midpoint of a 15-cent premium.
U.S. oil refiners are expected to have about 477,000 barrels per day (bpd) of capacity offline in the week ending Sept. 6, decreasing available refining capacity by 52,000 bpd, research company IIR Energy said on Friday.
Offline capacity is expected to fall to 311,000 bpd in the week ending Sept. 13, and then rise to 535,000 bpd in the subsequent week, IIR added.
On the supply side, U.S. energy firms this week cut the number of oil and natural gas rigs operating for a fourth week in a row for the first time since late June, energy services firm Baker Hughes BKR.O said in its closely followed report on Friday.
Baker Hughes said oil rigs held at 483 this week, while gas rigs fell by 1 to 94, their lowest since April 2021.
* Light Louisiana Sweet WTC-LLS for October delivery was unchanged at a midpoint of a $2.00 premium and was seen bid and offered between a $1.90 and $2.10 a barrel premium to U.S. crude futures CLc1
* Mars Sour WTC-MRS fell 32.5 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 was unchanged at a midpoint of a 80-cent premium and was seen bid and offered between a 70-cent and 90-cent a barrel premium to U.S. crude futures CLc1
* West Texas Sour WTC-WTS fell 2.5 cents at 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 $1.40 and $1.60 a barrel premium to U.S. crude futures CLc1
* ICE Brent November futures LCOc1 fell $1.63 to settle at $71.06 a barrel on Friday.
* WTI October crude CLc1 futures fell $1.48 to settle at $67.67 a barrel on Friday.
* The Brent/WTI spread WTCLc1-LCOc1 narrowed last to minus $4.19, after hitting a high of minus $4.06 and a low of minus $4.22.
Reporting by Georgina McCartney in Houston; Editing by David Gregorio
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