Free Trial

US Sour Crude Mars Hits 9-Month Low: Reuters

OIL

Differentials for US Mars sour crude have been in steep decline in July, hitting their widest discount to benchmark crude futures since October, according to Reuters.

  • The offshore crude grades discount to WTI at Cushing widened to $2.1/b, the weakest since Oct. 3.
  • Mars has been in decline as refiners have been making less of a profit on narrower gasoline cracks due to a slower start to summer driving season.
  • Mars values could still fall further on weakened Asian demand for US grades after India’s Reliance received permission to import Venezuelan crudes.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.