US Cash Crude-Grades mixed as crude stocks slip, refinery demand set to rise
Oct 30 (Reuters) -Grades were mixed on Wednesday, dealers said, as domestic crude and gasoline stocks fell, while demand from refiners is expected to grow in the near future.
Light Louisiana Sweet and Mars sour edged higher, while WTI Midland and West Texas Sour held steady.
On the supply side, U.S. gasoline stockpiles fell unexpectedly last week to a two-year low on strengthened demand, the Energy Information Administration said on Wednesday, while crude inventories also posted a surprise drawdown as imports slipped.
Crude stocks fell by 515,000 barrels to 425.5 million barrels, the EIA said, compared with analysts' expectations for a 2.3 million-barrel rise.
In refining news, U.S. oil refiners are expected to have about 670,000 barrels per day of capacity offline in the week ending Nov. 1, raising available refining capacity by 198,000 bpd, research company IIR Energy said on Wednesday.
Offline capacity is expected to fall to 554,000 bpd in the week ending Nov. 8, IIR added.
* Light Louisiana Sweet WTC-LLS for December delivery rose 3 cents to a midpoint of a $1.78 premium and was seen bid and offered between a $1.50 and $2.05 a barrel premium to U.S. crude futures CLc1.
* Mars Sour WTC-MRS rose 10 cents to a midpoint of a $1.25 discount and was seen bid and offered between a $1.35 and $1.15 a barrel discount to U.S. crude futures CLc1.
* WTI Midland WTC-WTM was unchanged at a midpoint of a 65 cent premium and was seen bid and offered between a 55-cent and 75-cent premium to U.S. crude futures CLc1.
* West Texas Sour WTC-WTS was unchanged at a midpoint of a 53-cent discount and was seen bid and offered between a discount of 85 cents and 20 cents to U.S. crude futures CLc1.
* WTI at East Houston WTC-MEH, also known as MEH, traded between a $1.10 and $1.30 a barrel premium to U.S. crude futures CLc1.
* ICE Brent December futures LCOc1 rose $1.43 to settle at $72.55 a barrel on Wednesday.
* WTI December crude CLc1 futures rose $1.40 to settle at $68.61 a barrel.
* The Brent/WTI spread WTCLc1-LCOc1 widened to last trade at minus $3.94, after hitting a high of minus $3.85 and a low of minus $4.01.
Reporting by Georgina McCartney in Houston; Editing by Lisa Shumaker
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