US Cash Crude-Grades eased as WTI/Brent spread holds below minus $4
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U.S. cash crude grades eased as the WTI/Brent spread remained below minus $4, discouraging exports. WTI Midland and MEH weakened slightly, while Mars Sour eased 60 cents. Saudi Arabia cut its January Arab Light crude price to Asia, potentially reducing U.S. crude demand. U.S. energy firms added six oil rigs, indicating future output. Refining capacity increased by 133,000 bpd. Light Louisiana Sweet remained unchanged, while other grades saw minor adjustments. Brent and WTI futures rose, with the spread steady at minus $3.95.
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