The prospect of lower supplies from Mexico, the top supplier of crude oil to the US Gulf Coast, is supporting prices of medium sour Mars Blend produced in the Gulf of Mexico. Mars traded at a premium of $1.60 a barrel above futures Monday, according to preliminary data from pricing agency General Index. That would be the strongest since November.1)
Mars Blend, a medium-density sour crude from the US Gulf Coast, has in recent days risen to a multi-year premium over lighter West Texas Intermediate, the national benchmark. Mars usually trades at a discount to WTI.2)