US Cash Crude-Grades mixed as Hurricane Francine to make landfall in Louisiana
Sept 11 (Reuters) -Grades were mixed on Wednesday, dealers said, as operators in the U.S. Gulf of Mexico shut in more offshore production as Hurricane Francine barreled towards Louisiana, where it is expected to make landfall on Wednesday night.
Nearly 39% of oil and almost half of natural gas production in the U.S. Gulf was offline on Wednesday as operators braced for Francine, now a Category 2 hurricane.
The shut-ins cut nearly 675,000 barrels per day of oil, and 907 million cubic feet per day of natural gas from offshore production, according to the offshore regulator.
The Gulf is home to about 15% of U.S. oil and 2% of natural gas output.
Meanwhile, U.S. oil stockpiles rose across the board last week as crude imports grew and exports dipped while gasoline and distillate demand weakened, the Energy Information Administration (EIA) said on Wednesday.
Crude inventories rose by 833,000 barrels to 419.1 million barrels in the week ending Sept. 6, the EIA said, compared with analysts' expectations in a Reuters poll for a 987,000-barrel rise.
* Light Louisiana Sweet WTC-LLS for October delivery gained 7.5 cents at a midpoint of a $2.10 premium and was seen bid and offered between a $2.00 and $2.20 a barrel premium to U.S. crude futures CLc1
* Mars Sour WTC-MRS fell 5 cents at a midpoint of a 75-cent discount and was seen bid and offered between a 85-cent and 65-cent a barrel discount to U.S. crude futures CLc1
* WTI Midland WTC-WTM fell 10 cents at a midpoint of a 70-cent premium and was seen bid and offered between a 60-cent and 80-cent a barrel premium to U.S. crude futures CLc1
* West Texas Sour WTC-WTS gained 17.5 cents at a midpoint of a 5-cent premium and was seen bid and offered between a discount of 5 cents and 15-cent a barrel premium to U.S. crude futures CLc1
* WTI at East Houston WTC-MEH, also known as MEH, traded between a $1.30 and $1.50 a barrel premium to U.S. crude futures CLc1
* ICE Brent November futures LCOc1 rose $1.42 to settle at $70.61 a barrel on Wednesday.
* WTI October crude CLc1 futures rose $1.56 to settle at $67.31 a barrel on Wednesday.
* The Brent/WTI spread WTCLc1-LCOc1 narrowed last to minus $4.05, after hitting a high of minus $3.91 and a low of minus $4.09.
Reporting by Georgina McCartney in Houston; Editing by Jamie Freed
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