U.S. cash crude prices rose on Friday, dealers said, as the oil rig count slipped and domestic refining demand rose.
The number of U.S. oil rigs operating, an early indicator of future output, fell by one this week to 478, its lowest since the week to July 19, energy services firm Baker Hughes BKR.O said.
In refining news, PBF Energy PBF.N began restarting the gasoline-producing fluidic catalytic cracker (FCC) at its 190,000 barrel-per-day (bpd) Chalmette, Louisiana refinery on Friday, said people familiar with plant operations. PBF expects to complete the restart by early next week.
U.S. oil refiners are expected to have about 595,000 bpd of capacity offline in the week ending Nov. 15, raising available refining capacity by 47,000 bpd, research company IIR Energy said.
Offline capacity is expected to fall to 291,000 bpd in the week ending Nov. 22 and further to 178,000 bpd in the subsequent week, IIR added.
Light Louisiana Sweet WTC-LLS for December delivery rose 10 cents at a midpoint of a $1.90 premium and was seen bid and offered between a $1.80 and $2.00 a barrel premium to U.S. crude futures CLc1
Mars Sour WTC-MRS gained 5 cents at a midpoint of an 80-cent discount and was seen bid and offered between a 90-cent and 70-cent a barrel discount to U.S. crude futures CLc1
WTI Midland WTC-WTM rose 10 cents at a midpoint of a 95-cent premium and was seen bid and offered between an 85-cent and $1.05 a barrel premium to U.S. crude futures CLc1
West Texas Sour WTC-WTS rose 23 cents at a midpoint of a 30-cent discount and was seen bid and offered between a 40-cent and 20-cent a barrel discount to U.S. crude futures CLc1
WTI at East Houston WTC-MEH, also known as MEH, traded between a $1.40 and $1.60 a barrel premium to U.S. crude futures CLc1
ICE Brent January futures LCOc1 fell $1.52 to settle at $71.04 a barrel.
WTI December crude CLc1 futures fell $1.68 to settle at $67.02 a barrel.
The Brent/WTI spread WTCLc1-LCOc1 widened 12 cents to last trade at minus $4.15, after hitting a high of minus $3.95 and a low of minus $4.16.
Source: Reuters (Reporting by Georgina McCartney in Houston, Editing by Marguerita Choy)