US Cash Crude- Grades firm as WTI/Brent spread widens to most since early July
Aug 2 (Reuters) -Physically traded domestic U.S. crudes largely strengthened on Friday, dealers said, as the spread between U.S. West Texas Intermediate (WTI) crude and Brent widened to its most in nearly four weeks.
The WTI/Brent spread widened for a second straight day to as much as minus $4.33, its widest since July 8. A wider spread makes U.S. crude more attractive to foreign buyers.
WTI Midland WTC-WTM gained 15 cents, while WTI at East Houston WTC-MEH, also known as MEH, strengthened 10 cents.
Light Louisiana Sweet WTC-LLS for September delivery gained 10 cents, while mars was unchanged.
Asia's crude imports in July fell to their lowest in two years, sapped by weak demand in China and India, data from LSEG Oil Research showed.
Meanwhile, OPEC oil output rose in July, a Reuters survey found, as a rebound in Saudi Arabian supply and small increases elsewhere offset the impact of ongoing voluntary supply cuts by other members and the wider OPEC+ alliance.
An OPEC+ meeting on Thursday had left the group's oil output policy unchanged, including a plan to start unwinding one layer of production cuts from October.
In refining news, Lyondell Basell LYB.N plans to operate its Houston refinery at 90% of its 263,776 barrel-per-day capacity during the third quarter of 2024, the company said on Friday.
* Light Louisiana Sweet WTC-LLS for September delivery gained 10 cents at a midpoint of a $1.90 premium and was seen bid and offered between a $1.70 and $2.10 a barrel premium to U.S. crude futures CLc1.
* Mars Sour WTC-MRS was unchanged at a midpoint of a 70-cent discount and was seen bid and offered between a 90-cent and 50-cent a barrel discount to U.S. crude futures CLc1.
* WTI Midland WTC-WTM gained 15 cents at a midpoint of a 85-cent premium and was seen bid and offered between a 70-cent and $1.00 a barrel premium to U.S. crude futures CLc1.
* West Texas Sour WTC-WTS gained 25 cents at a midpoint of a 15-cent premium and was seen bid and offered between parity 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 $1.00 and $1.50 a barrel premium to U.S. crude futures CLc1.
* ICE Brent October futures LCOc1 fell $2.71 to settle at $76.81 a barrel on Friday.
* WTI September crude CLc1 futures fell $2.79 to settle at $73.52 a barrel on Friday.
* The Brent/WTI spread WTCLc1-LCOc1 widened 5 cents to minus $4.17, after hitting a high of minus $4.10 and a low of minus $4.33.
Reporting by Arathy Somasekhar in Houston; Editing by Will Dunham
Pinakabagong Balita
Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.
Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.
Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.
