U.S. Cash Crude-Gulf Coast trades sideways as Brent/WTI widens
May 11 (Reuters) - U.S (Other OTC: UBGXF - news) . Gulf Coast differentials moved
sideways on Wednesday even as Brent's premium over U.S. crude
rose.
The move comes as U.S. crude stockpiles fell for the first
time since the last week of March, with draws nationwide outside
of Cushing, Oklahoma.
* Light Louisiana Sweet (WTC-LLS) for June delivery rose 3
cents to a midpoint of $2.03 and traded between $1.95 and $2.00
a barrel premium to U.S. crude futures.
* Mars Sour (WTC-MRS (LSE: MRS.L - news) ) fell 7.5 cents to a midpoint of -$3.35
and traded at a $3.40 a barrel discount to U.S. crude futures
.
* WTI Midland (WTC-WTM) fell 8 cents to a midpoint of -$0.28
and traded at a 25 cent a barrel discount to U.S. crude futures
.
* West Texas Sour (WTC-WTS) rose 29.5 cents to a midpoint of
-$0.88 and traded at a 90 cent a barrel discount to U.S. crude
futures.
* ICE Brent July futures rose $2.08 to settle at
$47.60 a barrel.
* WTI June crude futures rose $1.57 to settle at
$46.23 a barrel.
* The Brent/WTI spread (WTCLc1-LCOc1) narrowed 42.0 cents to
settle at -$0.59.
(Reporting by Catherine Ngai; Editing by Diane Craft)