Mars oil produced on the Gulf Coast climbed to a six-month high, leading other offshore oils after regional supplies of oil fell.
The Energy Information Administration reported that crude stockpiles in the Gulf Coast, or PADD 3 region, fell to 181.4 million barrels last week, dropping 13 million barrels in the past three weeks to the lowest level since the week of Sept. 20.
Mars strengthened by $1.30 to a premium of $2.20 a barrel over U.S. benchmark West Texas Intermediate at 2:06 p.m. in New York, according to data compiled by Bloomberg.
Heavy Louisiana Sweet’s premium to WTI rose $1 a barrel to $7.25. Light Louisiana Sweet gained 60 cents to a premium of $5.60 a barrel.
Thunder Horse rose by $1.70 to a $5-a-barrel premium to WTI. Southern Green Canyon climbed $1.20 to a premium of $1.50 a barrel. Poseidon increased $1.25 to $1.85 over.
Western Canadian Select heavy crude advanced 75 cents to a discount of $25 a barrel to WTI. Syncrude, a light sweet crude produced from oil-sands bitumen in Canada, also rose 75 cents against WTI to a discount of $2.75.
To contact the reporter on this story: Eliot Caroom in New York at firstname.lastname@example.org
To contact the editor responsible for this story: Dan Stets at email@example.com