Grades were mixed on Friday, dealers said, as refinery demand weakened while the domestic oil rig count fell.
Mexico’s national oil company Pemex completed the shutdown of multiple units at its 312,500-barrel-per-day Deer Park, Texas, refinery on Thursday to begin a multi-unit overhaul, people familiar with plant operations said.
The refinery’s 270,000-bpd DU-2 crude distillation unit (CDU), the larger of two at the refinery, is shut for the planned overhaul that will last about 60 days, the sources said.
U.S. energy firms this week cut the number of oil and natural gas rigs operating, the first reduction in six weeks, energy services firm Baker Hughes said in its closely followed report on Friday.
Baker Hughes said oil rigs fell by four to 418 this week, while gas rigs rose by two to 120, their highest since August.
* Light Louisiana Sweet (WTC-LLS) for November delivery rose 3 cents to a midpoint of a $1.88 premium and was seen bid and offered between a $1.50 and $2.25 a barrel premium to U.S. crude futures
* Mars Sour (WTC-MRS) fell 5 cents to a midpoint of a 70-cent discount and was seen bid and offered between a 80-cent and 60-cent a barrel discount to U.S. crude futures
* WTI Midland (WTC-WTM) was steady at a midpoint of a 80-cent premium and was seen bid and offered between a 70-cent and 90-cent a barrel premium to U.S. crude futures
* West Texas Sour (WTC-WTS) fell 5 cents to a midpoint of a 8-cent discount and was seen bid and offered between discount of 15 cents and parity to U.S. crude futures
* WTI at East Houston (WTC-MEH), also known as MEH, traded between a $1.10 and $1.30 a barrel premium to U.S. crude futures
* ICE Brent December futures fell $2.49 to settle at $62.73 a barrel
* WTI November crude futures fell $2.61 to settle at $58.9 a barrel
* The /WTI spread (WTCLc1-LCOc1) widened 9 cents to last trade at minus $4.28, after hitting a high of minus $4.10 and a low of minus $4.28
Source: Reuters
