US Cash Crude-Mars firms as medium/heavy crude supplies remain tight

Reuters
01-31
US Cash Crude-Mars firms as medium/heavy crude supplies remain tight

Jan 30 (Reuters) - Grades broadly firmed on Thursday, dealers said, with Mars Sour rising for the fourth straight session to its highest since mid-December as supplies for medium and heavy crude remained tight.

Indian and Chinese buyers continuing to seek Russian replacement barrels has helped to support the market, traders have said.

U.S. President Donald Trump has threatened to impose a 25% tariff as early as Saturday on Canadian and Mexican exports to the United States if those two countries do not end shipments of fentanyl across U.S. borders.

In refining news, U.S. crude oil refiner Valero Energy Corp VLO.N said on Thursday it plans to operate its 14 refineries up to 90% of their combined total complete throughput capacity of 3.2 million barrels per day (bpd) in the first quarter of 2025.

* Light Louisiana Sweet WTC-LLS for March delivery NOT eased about 3 cents to a midpoint of a $2.80 premium and was seen bid and offered between a $2.50 and $3.10 a barrel premium to U.S. crude futures CLc1

* Mars Sour WTC-MRS gained 10 cents to a midpoint of a $1.3 premium and was seen bid and offered between a $1.10 and $1.5 a barrel premium to U.S. crude futures CLc1

* WTI Midland WTC-WTM firmed 10 cents at a midpoint of a $1.1 premium and was seen bid and offered between a 90-cent and $1.30 a barrel premium to U.S. crude futures CLc1

* West Texas Sour WTC-WTS was unchanged at a midpoint of a 50-cent discount and was seen bid and offered between a 20-cent and 80-cent a barrel discount to U.S. crude futures CLc1

* WTI at East Houston WTC-MEH, also known as MEH, traded between a $1.35 and $1.65 a barrel premium to U.S. crude futures CLc1

* ICE Brent March futures LCOc1 rose 29 cents to settle at $76.87 a barrel on Thursday.

* WTI March crude CLc1 futures rose 11 cents to settle at $72.73 a barrel on Thursday.

* The Brent/WTI spread WTCLc1-LCOc1 widened 4 cents to last trade at minus $4.00, after hitting a high of minus $3.75 and a low of minus $4.15.

(Reporting by Arathy Somasekhar in Houston; Editing by Daniel Wallis)

((Georgina.McCartney@tr.com))

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