US Cash Crude-Grades mixed as oil stocks fall, refining demand set to slip in Q4
Oct 29 (Reuters) -Physically traded domestic crude grades pulled in different directions on Tuesday, dealers said, with grades either retreating or trading flat on the day.
Weighing on near-term demand, U.S. crude oil refiner Phillips 66 PSX.N plans to operate its refineries in the low to mid-90% range of combined capacity of 1.5 million barrels per day in the fourth quarter, Chief Financial Officer Kevin Mitchell told analysts on a conference call on Tuesday.
On the supply side, U.S. crude oil and fuel stocks fell last week, market sources said, citing American Petroleum Institute figures on Tuesday.
Crude stocks fell by 573,000 barrels in the week ended Oct. 25, the sources said on condition of anonymity. Gasoline inventories fell by 282,000 barrels, and distillate stocks fell by 1.46 million barrels, they said.
Investors await official U.S. crude and fuels stockpile data from the Energy Information Agency on Wednesday at 10:30 a.m. EDT (1430 GMT).
* Light Louisiana Sweet WTC-LLS for November delivery fell 40 cents to a midpoint of a $1.75 premium and was seen bid and offered between a $1.50 and $2.00 a barrel premium to U.S. crude futures CLc1.
* Mars Sour WTC-MRS weakened 15 cents to a midpoint of a $1.35 discount and was seen bid and offered between a $1.45 and $1.25 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 cents a barrel premium to U.S. crude futures CLc1.
* West Texas Sour WTC-WTS was unchanged at a midpoint of 53 cents 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 $1.05 and $1.25 a barrel premium to U.S. crude futures CLc1.
* ICE Brent December futures LCOc1 fell 30 cents to settle at $71.12 a barrel on Tuesday.
* WTI December crude CLc1 futures fell 17 cents to settle at $67.21 a barrel on Tuesday.
* The Brent/WTI spread WTCLc1-LCOc1 narrowed 8 cents to last trade at minus $3.96, after hitting a high of minus $3.89 and a low of minus $4.10.
Reporting by Georgina McCartney in Houston
Editing by Matthew Lewis
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