US Cash Crude-Grades steady as market weighs rapidly changing US trade policy
April 10 (Reuters) - Grades were little changed on Thursday as the market weighed an escalating trade war between the United States and China, against a planned pause in sweeping U.S. tariffs.
WTI Midland and WTI at East Houston WTC-MEH, also known as MEH, were unchanged, while Mars edged 5 cents higher.
U.S. President Donald Trump on Wednesday paused the heavy tariffs he had announced against dozens of U.S. trading partners a week ago, marking an abrupt U-turn less than 24 hours after the levies took effect.
At the same time, however, Trump also raised tariffs against China. U.S. tariffs on Chinese imports now total 145%, the White House told media on Thursday.
Tariffs are clouding the global economic outlook and could weigh heavily on oil prices in the months ahead, the U.S. Energy Information Administration (EIA) said on Thursday as it lowered its oil demand forecasts through 2026.
They also cut its oil price forecasts for this year and next.
* Light Louisiana Sweet WTC-LLS for May delivery eased 20 cents to a midpoint of a $2.30 premium and was seen bid and offered between a $2.10 and $2.50 a barrel premium to U.S. crude futures CLc1
* Mars Sour WTC-MRS climbed 5 cents to a midpoint of a $1 premium and was seen bid and offered between a 75-cent and $1.25 a barrel premium to U.S. crude futures CLc1
* WTI Midland WTC-WTM was unchanged at a midpoint of a 90-cent premium and was seen bid and offered between a 70-cent and $1.10 a barrel premium to U.S. crude futures CLc1
* West Texas Sour WTC-WTS rose 5 cents to a midpoint of a 15-cent premium and was seen bid and offered between parity and 30-cent a barrel premium to U.S. crude futures CLc1
* WTI at East Houston WTC-MEH, also known as MEH, traded between a $1.00 and $1.50 a barrel premium to U.S. crude futures CLc1
* ICE Brent June futures LCOc1 remained unchanged at $63.33 a barrel on Thursday
* WTI May crude CLc1 futures rose 1 cents and are currently trading at $60.08 a barrel
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