OPEC oil output rose further in July, a Reuters survey found, as Gulf members restored supplies that were shut due to the Iran war and effective closure of the strait.
In refinery news, Saudi Aramco has postponed the restart of its 400,000 bpd Jazan refinery to August 30 after two Houthi attacks since late July, according to an alert from industry monitor IIR seen by Reuters.
Cash crude grades and futures settlement
Light Louisiana Sweet for September delivery rose 15 cents to a midpoint of a $1.95 premium and was seen bid and offered between a $1.80 and $2.10 a barrel premium to U.S. crude futures CLc1
Mars Sour rose 50 cents to a midpoint of a $1 discount and was seen bid and offered between a $1.10 and 90-cent a barrel discount to U.S. crude futures CLc1
WTI Midland 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 CLc1
West Texas Sour was steady at a midpoint of a $1.50 discount and was seen bid and offered between a $1.60 and $1.40 a barrel discount to U.S. crude futures CLc1
WTI at East Houston, also known as MEH, traded between an 85-cent and $1.05 a barrel premium to U.S. crude futures CLc1
ICE Brent October futures LCOc1 rose $4.17 to settle at $87.72 a barrel
WTI September crude CLc1 futures rose $3.95 to settle at $82.13 a barrel
The Brent/WTI spread widened 14 cents to last trade at minus $6.54, after hitting a high of minus $6.21 and a low of minus $6.69
Grades rise as Strait of Hormuz hopes fade
HOUSTON, Aug 10 (Reuters) - Grades broadly rose on Monday, dealers said, as hopes of a quick reopening of the Strait of Hormuz faded after U.S. President Donald Trump demanded Iran pay compensation for the people he said it had killed in wars, attacks and protests.
Around a fifth of global oil and gas supplies typically flowed through that waterway before the Iran war broke out in late February.
Grades also rose as the spread between WTI and benchmark Brent widened for a fourth straight day, boosting prices on firmer export demand.
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