US Cash Crude-Mars firms as WTI/Brent discount widens

April 25 (Reuters) - Mars strengthened on Thursday, dealers said, after WTI/Brent discount widened to its most in February, while inland grades eased on the last day of the cash roll period that traders use to square positions.

Mars Sour gained 30 cents, while WTI Midland

fell 30 cents.

Traders and refiners use the three-day "roll" period after the expiry of the front-month U.S. light crude contract to adjust slate and manage exposure, causing more volatility in prices.

The cash roll traded at about $1.60.

West Texas Intermediate's discount to Brent widened to as much as minus $5.47, the most in more than 2 months. A wider spread typically boost demand for coastal crudes.

Heavy-light differentials will be relatively tight through most of the year, until you get the OPEC production back on the market, executives at Valero Energy Corp .

OPEC production will ramp back up maybe in the third or fourth quarter of this year, the executive added.

Valero Energy plans to run its 14 refineries up to 95% of their combined total throughput capacity of 3.2 million barrels per day (bpd) in the second quarter of 2024. Valero's seven U.S. Gulf Coast refineries are planned to operate up to 99% of their combined 1.9-million-bpd total throughput capacity.

* Light Louisiana Sweet for May delivery gained 80 cents at a midpoint of a $3.00 premium and was seen bid and offered between a $2.80 and $3.20 a barrel premium to U.S. crude futures ​

* Mars Sour gained 30 cents at a midpoint of a $1.5 discount and was seen bid and offered between a $1.75 and $1.25 a barrel discount to U.S. crude futures ​

* WTI Midland fell 30 cents at a midpoint of a 70-cent premium and was seen bid and offered between a 50-cent and 90-cent a barrel premium to U.S. crude futures ​

* West Texas Sour fell 45 cents at a midpoint of a 40-cent premium and was seen bid and offered between a 20-cent and 60-cent a barrel premium to U.S. crude futures ​

* WTI at East Houston , also known as MEH, traded between a 50-cent and $1.00 a barrel premium to U.S. crude futures ​

* ICE Brent June futures rose 99 cents to settle at $89.01 a barrel on Thursday​.

* WTI June crude futures rose 76 cents to settle at $83.57 a barrel on Thursday​.

* The Brent/WTI spread widened 22 cents to minus $5.43, after hitting a high of minus $5.17 and a low of minus $5.47.

(Reporting by Arathy Somasekhar in Houston; Editing by David Gregorio)

((Arathy.s@tr.com))