US Cash Crude-Inland grades firm, Mars eases on last day of WTI Feb trade

Reuters
01-22

Jan 21 (Reuters) - Inland U.S. crude grades largely strengthened on Tuesday while Mars eased, dealers said, on the last day of February trading for U.S. crude futures.

WTI Midland rose 30 cents, while WTI-MEH rose 25 cents. Mars fell 25 cents.

Winter storm Enzo swept through Texas, disrupting some port activity. Port Freeport on Tuesday said it expects limited vessel activity, while Port Houston said all of its public facilities will remain closed through Wednesday.

The impact of the storm on Texas oil and gas operations was limited on Tuesday, with minimum interruptions in gas flows, few power outages and plenty of gasoline inventories at the pump.

Meanwhile, the price of medium and heavy crude eased after strengthening in recent days after the U.S. ramped up sanctions on Russian oil.

* Light Louisiana Sweet for February delivery eased 25 cents to 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 .

* Mars Sour eased 25 cents to a midpoint of a 25-cent discount and was seen bid and offered between discount of 50 cents and parity to U.S. crude futures .

* WTI Midland firmed 30 cents to a midpoint of a 95-cent premium and was seen bid and offered between a 80-cent and $1.10 a barrel premium to U.S. crude futures .

* West Texas Sour gained 35 cents to a midpoint of a 45-cent premium and was seen bid and offered between a 25-cent and 65-cent a barrel premium to U.S. crude futures .

* WTI at East Houston , also known as MEH, traded between a 90-cent and $1.30 a barrel premium to U.S. crude futures .

* ICE Brent March futures fell 86 cents to settle at $79.29 a barrel on Tuesday.

* WTI March crude futures fell $1.56 to settle at $75.83 a barrel on Tuesday.

* The Brent/WTI spread narrowed 12 cents to last trade at minus $3.47, after hitting a high of minus $3.26 and a low of minus $3.55.

(Reporting by Arathy Somasekhar in Houston; Editing by Nia Williams)

((Arathy.s@tr.com))

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