Mars Blend Rises After Domestic Discount to Brent Widens
Mars Blend’s discount to West Texas Intermediate narrowed after the U.S. benchmark lost ground to Brent.
WTI’s discount to its European counterpart widened by 59 cents to $6.25 a barrel at 3:25 p.m. in New York, according to data compiled by Bloomberg. When WTI weakens versus Brent, which is used to price foreign crudes, it can raise the value of domestic oils competing for space in Gulf Coast refineries.
Mars strengthened by 75 cents to a discount of $2.05 a barrel against WTI at 2:02 p.m. in New York, according to data compiled by Bloomberg. Light Louisiana Sweet gained 40 cents to a premium of $2.40. Heavy Louisiana Sweet fell 10 cents a barrel to a premium of $2.90.
Thunder Horse advanced to a premium, gaining 75 cents to 25 cents a barrel above WTI, and Poseidon rose 40 cents to a discount of $2.90 a barrel to the domestic benchmark.
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