Dec 20 (Reuters) - U.S. crude grades were mixed on Friday, dealers said, the first full day of cash roll that traders use to manage exposure.
Midland gained 5 cents, while WTI at East Houston , also known as MEH, gained 10 cents.
Mars eased $1.20 to trade at parity with U.S. crude futures after firming to its highest level in over four years earlier this week.
Prices to roll U.S. crude oil positions from December to January traded at 60 cents a barrel, dealers said.
Traders use the three-day roll period to square positions and adjust their slates.
Meanwhile, the spread between U.S. West Texas Intermediate and Brent crude continued to remain narrow at minus $3.43. A narrow spread between the global benchmark and WTI, particularly under minus $4, typically discourages transatlantic demand.
* Light Louisiana Sweet for January delivery eased $1.25 to a midpoint of a $1.75 premium and was seen bid and offered between a $1.50 and $2.00 a barrel premium to U.S. crude futures
* Mars Sour eased $1.20 to a midpoint of parity and was seen bid and offered between a discount of 20 cents and 20-cent a barrel premium to U.S. crude futures
* WTI Midland gained 5 cents to a midpoint of a 80-cent premium and was seen bid and offered between a 60-cent and $1.00 a barrel premium to U.S. crude futures
* West Texas Sour firmed 20 cents to a midpoint of a 55-cent premium and was seen bid and offered between a 35-cent and 75-cent a barrel premium to U.S. crude futures
* WTI at East Houston , also known as MEH, traded between a 70-cent and $1.10 a barrel premium to U.S. crude futures
* ICE Brent February futures rose 6 cents to settle at $72.94 a barrel on Friday.
* WTI February crude futures rose 8 cents to settle at $69.46 a barrel on Friday.
* The Brent/WTI spread narrowed 7 cents to last trade at minus $3.43, after hitting a high of minus $3.39 and a low of minus $3.55.
(Reporting by Arathy Somasekhar in Houston; Editing by Deepa Babington and Richard Chang)
((Arathy.s@tr.com))
Comments