Grades rise as fuel supply takes a hit after Turkey bans Israeli imports
Grades rose on Thursday, dealers said, after the Turkish government announced it was halting trade with Israel as of Thursday, tightening road fuel supply as Turkish buyers look elsewhere for volumes.
Turkey stopped all exports and imports to and from Israel as of Thursday, the Turkish trade ministry said, citing a "worsening humanitarian tragedy" in the Palestinian territories.
"Export and import transactions related to Israel have been stopped, covering all products," Turkey's trade ministry said in a statement.
Israel exported around 11,000 barrels per day (bpd) of gasoline and diesel to Turkish ports in April, according to data from Kpler.
Turkish buyers imported 2,000 bpd of gasoil from the U.S. in April, with no other shipments on this route since April 2023, Kpler data show. Demand for fuels on this flow could rise as Turkey seeks to replace lost barrels.
* Light Louisiana Sweet (WTC-LLS) for June delivery gained 25 cents at a midpoint of a $3.80 premium and was seen bid and offered between a $3.50 and $4.10 a barrel premium to U.S. crude futures 
CL1!
* Mars Sour (WTC-MRS) gained 10 cents at a midpoint of a 30-cent premium and was seen bid and offered between a 20-cent and 40-cent a barrel premium to U.S. crude futures CL1!
* WTI Midland (WTC-WTM) gained 10 cents at a midpoint of a 90-cent premium and was seen bid and offered between a 80-cent and $1.00 a barrel premium to U.S. crude futures CL1!
* West Texas Sour (WTC-WTS) gained 27 cents at a midpoint of a 43-cent discount and was seen bid and offered between a 60-cent and 25-cent a barrel discount to U.S. crude futures CL1!
* WTI at East Houston (WTC-MEH), also known as MEH, traded between a $1.85 and $2.05 a barrel premium to U.S. crude futures CL1!
* ICE Brent July futures BRN1! rose 23 cents to settle at $83.67 a barrel on Thursday.
* WTI June crude CL1! futures fell 5 cents to settle at $78.95 a barrel on Thursday.
* The Brent/WTI spread (WTCLc1-LCOc1) widened last to minus $5, after hitting a high of minus $4.94 and a low of minus $5.20.