Grades mixed as supplies seen up, WTI/Brent spread widens

Grades were mixed on Monday, dealers said, with inland grades rising while coastal crudes slipped.

U.S. crude oil stockpiles were expected to have risen last week, while gasoline and distillate inventories likely fell, a preliminary Reuters poll showed on Monday.

Five analysts polled by Reuters ahead of weekly inventory data estimated on average that crude inventories rose by about 500,000 barrels in the week to October 31.

Meanwhile, the spread between West Texas Intermediate crude futures and global benchmark Brent widened, which typically makes U.S. grades more attractive to foreign buyers.

The discount (WTCLc1-LCOc1) widened to as much as minus $4.19 a barrel, suggesting an open arbitrage window.

* Light Louisiana Sweet (WTC-LLS) for December delivery fell 10 cents to a midpoint of a $1 premium and was seen bid and offered between a 90-cent and $1.10 a barrel premium to U.S. crude futures CL1!

* Mars Sour (WTC-MRS) fell 25 cents to a midpoint of a $1.35 discount and was seen bid and offered between a $1.45 and $1.25 a barrel discount to U.S. crude futures CL1!

* WTI Midland (WTC-WTM) rose 5 cents to a midpoint of a 55-cent premium and was seen bid and offered between a 45-cent and 65-cent a barrel premium to U.S. crude futures CL1!

* West Texas Sour (WTC-WTS) rose 50 cents to a midpoint of a 10-cent discount and was seen bid and offered between a discount of 25 cents and 5-cent a barrel premium to U.S. crude futures CL1!

* WTI at East Houston (WTC-MEH), also known as MEH, traded between a 75-cent and 95-cent a barrel premium to U.S. crude futures CL1!

* ICE Brent January futures BRN1! rose 6 cents and is currently trading at $64.83 a barrel on Monday

* WTI December crude CL1! futures rose 7 cents to settle at $61.05 a barrel on Monday

* The Brent/WTI spread (WTCLc1-LCOc1) narrowed 4 cents to last trade at minus $4.13, after hitting a high of minus $4.11 and a low of minus $4.19