US Cash Crude-Grades rise as US crude stocks slip

- Grades broadly rose on Tuesday, dealers said, after U.S. crude inventories fell for a seventh straight week last week, according to market sources citing American Petroleum Institute data.

Crude stocks fell by 6.8 million barrels in the week ended May 29, the sources said on condition of anonymity. Gasoline inventories rose by 3.5 million barrels, while distillate inventories fell by 214,000 barrels compared with a week earlier, the sources said. API/S

  • Light Louisiana Sweet for July delivery rose 63 cents to a midpoint of a $2.63 premium and was seen bid and offered between a $2.25 and $3 a barrel premium to U.S. crude futures CLc1

  • Mars Sour rose 50 cents to a midpoint of a $2 premium and was seen bid and offered between a $1.90 and $2.10 a barrel premium to U.S. crude futures CLc1

  • WTI Midland rose 10 cents to a midpoint of a 90-cent premium and was seen bid and offered between an 80-cent and $1 a barrel premium to U.S. crude futures CLc1

  • West Texas Sour fell 7 cents to a midpoint of a $2.40 discount and was seen bid and offered between a $2.70 and $2.10 a barrel discount to U.S. crude futures CLc1

  • WTI at East Houston, also known as MEH, traded between a $1 and $1.20 a barrel premium to U.S. crude futures CLc1

  • ICE Brent August futures LCOc1 rose $1.02 to settle at $96 a barrel

  • WTI July crude CLc1 futures rose $1.60 to settle at $93.76 a barrel

  • The Brent/WTI spread narrowed 29 cents to last trade at minus $5.52, after hitting a high of minus $5.50 and a low of minus $6.04