US Cash Crude-Grades mixed on weak Asia demand, steady WTI/Brent spread
Aug 15 (Reuters) -U.S. crude prices were mixed on Wednesday, dealers said, as the spread between U.S. West Texas Intermediate crude (WTI) and Brent continued to trade in a narrow range.
Mars strengthened 10 cents a barrel, while WTI Midland and WTI at East Houston WTC-MEH, also known as MEH, eased 10 cents each.
The spread between WTI and Brent WTCLc1-LCOc1 last traded around minus $4.06 per barrel. A spread narrower than minus $4 discourages foreign buying of U.S. crude, while a spread wider than minus $4 encourages buying.
Asian refiners' demand for Middle Eastern light sour grades such as Murban is firm this month as a wide Brent-Dubai spread has made crude from other regions like the United States less affordable.
On the supply side, North Dakota's oil production fell by 22,500 barrels per day (bpd) in June to an estimated 1.176 million bpd, the state's Pipeline Authority said, marking a second straight monthly decline.
Meanwhile, the U.S. bought 1.5 million barrels of oil for the Strategic Petroleum Reserve (SPR) for delivery in January, the Energy Department said.
* Light Louisiana Sweet WTC-LLS for September delivery gained 5 cents at a midpoint of a $1.25 premium and was seen bid and offered between a $1.00 and $1.50 a barrel premium to U.S. crude futures CLc1
* Mars Sour WTC-MRS gained 10 cents at a midpoint of a $1.9 discount and was seen bid and offered between a $1.70 and $2.10 a barrel discount to U.S. crude futures CLc1
* WTI Midland WTC-WTM fell 10 cents at a midpoint of a 65-cent premium and was seen bid and offered between a 50-cent and 80-cent a barrel premium to U.S. crude futures CLc1
* West Texas Sour WTC-WTS gained 10 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 90-cent and $1.30 a barrel premium to U.S. crude futures CLc1
* ICE Brent October futures LCOc1 rose $1.28 to settle at $81.04 a barrel
* WTI September crude CLc1 futures rose $1.18 to settle at $78.16 a barrel
* The Brent/WTI spread WTCLc1-LCOc1 widened 14.0 cents to minus $4.06, after hitting a high of minus $3.92 and a low of minus $4.09.
Reporting by Arathy Somasekhar in Houston;
Editing by Marguerita Choy
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