US Cash Crude-Mars Sour slides to 11-month low on weak domestic demand

Nov 6 (Reuters) - U.S. crudes fell on Thursday, dealers said, with Mars Sour, a grade favored by domestic refiners, slipped to its weakest point since October 2024.

Mars, a medium sour crude produced off the coast of Louisiana is preferred by refineries along the Gulf Coast because of its properties and proximity.

U.S. Gulf Coast refinery utilization fell for the third straight week in the week to October 31 to 89% according to data from the Energy Information Administration on Wednesday.

A significant refinery turnaround season has weighed on domestic crude demand, pressuring Mars Sour prices.

Meanwhile, U.S. crude futures' discount to the international benchmark Brent narrowed for the third consecutive day, to weigh on export demand.

West Texas Intermediate crude futures' discount to Brent WTCLc1-LCOc1 narrowed suggesting a closing arbitrage window for transatlantic flows.

Light Louisiana Sweet WTC-LLS for December delivery fell 20 cents to 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 CLc1

Mars Sour WTC-MRS fell 35 cents to a midpoint of a $1.60 discount and was seen bid and offered between a $1.70 and $1.50 a barrel discount to U.S. crude futures CLc1

WTI Midland WTC-WTM fell 5 cents to a midpoint of a 45-cent premium and was seen bid and offered between a 35-cent and 55-cent a barrel premium to U.S. crude futures CLc1

West Texas Sour WTC-WTS fell 15 cents to a midpoint of a 65-cent discount and was seen bid and offered between a 75-cent and 55-cent a barrel discount to U.S. crude futures CLc1

WTI at East Houston WTC-MEH, also known as MEH, traded between a 65-cent and 85-cent a barrel premium to U.S. crude futures CLc1

ICE Brent January futures LCOc1 fell 14 cents to settle at $63.38 a barrel

WTI December crude CLc1 futures fell 17 cents to settle at $59.43 a barrel

The Brent/WTI spread WTCLc1-LCOc1 narrowed 1 cent to last trade at minus $4.09, after hitting a high of minus $4.03 and a low of minus $4.13