US Cash Crude-Grades mixed on last day of February trade
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On the last day of February trading, U.S. coastal crude grades showed mixed results. Oil rig counts rose by 1 to 411, but U.S. crude output is expected to decline due to cold weather, potentially losing around 300,000 barrels per day. North Dakota's output is down by 80,000 to 110,000 bpd. Light Louisiana Sweet remained unchanged, while Mars Sour and WTI Midland saw slight changes in their premiums and discounts. Brent March futures rose to $65.88, and WTI March crude settled at $61.07, with the Brent/WTI spread widening to minus $4.89.
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