U.S. cash crude grades were mixed on Friday, dealers said, as domestic refinery demand is set to grow while supply in both the U.S. and abroad is also set to rise.
U.S. oil refiners are expected to have about 990,000 barrels per day of capacity offline in the week ending Oct. 11, raising available refining capacity by 266,000 bpd, research company IIR Energy said on Friday.
Offline capacity is expected to fall to 795,000 bpd in the week ending Oct. 18 and then to 749,000 in the subsequent week, IIR added.
U.S. energy firms this week added oil and natural gas rigs for the first time in four weeks, energy services firm Baker Hughes BKR.O said in its closely followed report on Friday.
Baker Hughes said oil rigs rose by two to 481 this week.
Elsewhere, Libya’s national oil corporation (NOC) said it had restored oil production to levels before the country’s central bank crisis as it reached 1.25 million barrels on Friday.
Light Louisiana Sweet WTC-LLS for November delivery was unchanged at a midpoint of a $2.30 premium and was seen bid and offered between a $2.00 and $2.60 a barrel premium to U.S. crude futures CLc1
Mars Sour WTC-MRS gained 25 cents at a midpoint of a $1.45 discount and was seen bid and offered between a $1.55 and $1.35 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 50-cent and 80-cent a barrel premium to U.S. crude futures CLc1
West Texas Sour WTC-WTS fell 15 cents at a midpoint of a $1 discount and was seen bid and offered between a $1.25 and 75-cent a barrel discount to U.S. crude futures CLc1
WTI at East Houston WTC-MEH, also known as MEH, traded between a $1.20 and $1.60 a barrel premium to U.S. crude futures CLc1
ICE Brent December futures LCOc1 fell 36 cents to settle at $79.04 a barrel on Friday.
WTI November crude CLc1 futures fell 29 cents to settle at $75.56 a barrel.
The Brent/WTI spread WTCLc1-LCOc1 narrowed 12 cents to last trade at minus $4.17, after hitting a high of minus $4.16 and a low of minus $4.29.
Source: Reuters (Reporting by Georgina McCartney in Houston; Editing by Richard Chang)