US Cash Crude-Grades little changed as Libya exports halted
Aug 29 (Reuters) -U.S. crude grades were little changed on Thursday even as more than half of Libya's oil production was offline and exports were halted at several ports.
Refiners that usually import light sweet crude could look to replace Libya's Sharara with U.S. WTI Midland, among other grades, trade sources said.
WTI Midland WTC-WTM fell 5 cents a barrel and WTI at East Houston WTC-MEH, also known as MEH, was unchanged.
Iraq plans to reduce its oil output to between 3.85 million and 3.9 million barrels per day in September as part of a plan to compensate for producing over its quota agreed with OPEC and allies, a source with direct knowledge of the matter told Reuters.
Meanwhile, Asia's imports of crude oil rose in August from the two-year low in July as top-importing heavyweights China, India, South Korea and Japan brought in more barrels.
* Light Louisiana Sweet WTC-LLS for October delivery fell 40 cents at a midpoint of a $1.80 premium and was seen bid and offered between a $1.60 and $2.00 a barrel premium to U.S. crude futures CLc1
* Mars Sour WTC-MRS gained 85 cents at a midpoint of a 50-cent discount and was seen bid and offered between discount of $1.00 and parity to U.S. crude futures CLc1
* WTI Midland WTC-WTM fell 5 cents 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 20 cents and 40-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 $1.70 a barrel premium to U.S. crude futures CLc1
* ICE Brent October futures LCOc1 rose $1.29 to settle at $79.94 a barrel
* WTI October crude CLc1 futures rose $1.39 to settle at $75.91 a barrel
* The Brent/WTI spread WTCLc1-LCOc1 narrowed 12 cents to minus $4.02, after hitting a high of minus $3.85 and a low of minus $4.09.
Reporting by Arathy Somasekhar in Houston;
Editing by Marguerita Choy
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