<div id="readability-page-1"><div>U.S. cash crude grades strengthened on Tuesday even as benchmark prices weakened. Mars strengthened 55 cents, while SGC rose 60 cents and Thunder Horse rose 50 cents. Oil futures settled at their lowest level since February 2021 on Tuesday amid ongoing jitters surrounding oversupply and as the prospect of a Russia-Ukraine peace deal appeared to strengthen, raising expectations sanctions could be eased. The spread between WTI and Brent widened to as little as $3.77, the narrowest since August and smaller than the minus $4 level that encourages exports. U.S. crude stocks fell, while fuel inventories rose last week, market sources said, citing American Petroleum Institute figures on Tuesday.Crude stocks fell by 9.3 million barrels in the week ended December 12, the sources said on condition of anonymity.<ul><li>Light Louisiana Sweet for January delivery was unchanged at a midpoint of a $1.60 premium and was seen bid and offered between a $1.40 and $1.80 a barrel premium to U.S. crude futures </li><li>Mars Sour firmed 55 cents at a midpoint of an 80-cent discount and was seen bid and offered between a $1.00 and 60-cent a barrel discount to U.S. crude futures </li><li>WTI Midland firmed 5 cents to a midpoint of a 35-cent premium and was seen bid and offered between a 10-cent and 60-cent a barrel premium to U.S. crude futures </li><li>West Texas Sour eased 5 cents to a midpoint of a $1.95 discount and was seen bid and offered between a $2.20 and $1.70 a barrel discount to U.S. crude futures ​ </li><li>WTI at East Houston, also known as MEH, traded between a 30-cent and 90-cent a barrel premium to U.S. crude futures </li><li>ICE Brent February futures fell $1.64 to settle at $58.92 a barrel on Tuesday​. </li><li>WTI January crude futures fell $1.55 to settle at $55.27 a barrel on Tuesday​.</li><li>The Brent/WTI spread narrowed 12 cents to last trade at minus $3.77, after hitting a high of minus $3.76 and a low of minus $3.90.</li></ul></div></div>

MARS

U.S. cash crude grades strengthened despite weakening benchmark prices. Mars, SGC, and Thunder Horse saw price increases, while oil futures hit their lowest since February 2021 due to oversupply concerns and potential easing of Russia-Ukraine sanctions. The WTI-Brent spread narrowed to $3.77, encouraging exports. U.S. crude stocks fell by 9.3 million barrels, while fuel inventories rose. Various crude grades showed mixed price movements, with ICE Brent and WTI futures declining.

Grades firm even as benchmark prices weaken