US Cash Crude-Grades rise as US reinstates blockade of Iranian shipping in Gulf

HOUSTON, July 13 (Reuters) - Prices broadly rose on Monday, dealers said, after U.S. President Donald Trump said the United States was reinstating its blockade of Iranian shipping in the Gulf, reigniting concerns over energy shipments through the Strait of Hormuz.

Trump also said the U.S. would ensure the Strait of Hormuz stays open — for a fee — after the two sides exchanged more missile and drone attacks.

And in an interview with U.S. radio show host Hugh Hewitt, Trump said Iran would be hit hard Monday and Tuesday.

Meanwhile, U.S. oil refiners are expected to have about 200,000 barrels per day of capacity offline for the week ending July 17, increasing available refining capacity by 70,000 bpd, research company IIR Energy said on Monday.

Offline capacity is expected to decrease to 89,000 bpd in the week ending July 24.

• Light Louisiana Sweet for August delivery rose 10 cents to a midpoint of parity and was seen bid and offered between a discount of 10 cents and 10-cent a barrel premium to U.S. crude futures CLc1
• Mars Sour rose 75 cents to a midpoint of a $2.75 discount and was seen bid and offered between a $2.85 and $2.65 a barrel discount to U.S. crude futures CLc1
• WTI Midland rose 10 cents to a midpoint of a 5-cent discount and was seen bid and offered between a discount of 15 cents and 5-cent a barrel premium to U.S. crude futures CLc1
• West Texas Sour fell 65 cents to a midpoint of a $3.05 discount and was seen bid and offered between a $3.15 and $2.95 a barrel discount to U.S. crude futures CLc1
• WTI at East Houston, also known as MEH, traded between a $1 and $3 a barrel premium to U.S. crude futures CLc1
• ICE Brent September futures LCOc1 rose $7.29 to settle at $83.3 a barrel