US Cash Crude-Mars Sour firms as Brent/WTI spread widens

Nov 13 (Reuters) - Mars Sour largely firmed on Thursday, dealers said, as the discount between Brent and U.S. West Texas Intermediate crude widened for a fourth straight session.

Mars gained 25 cents, while WTI Midland was unchanged.

The spread between Brent and WTI widened to minus $4.37 earlier in the session. A spread larger than minus $4 typically encourages exports.

U.S. crude stocks rose while gasoline and distillate inventories fell last week on stronger demand, the Energy Information Administration said on Thursday.

Crude inventories rose by 6.4 million barrels to 427.6 million barrels in the week ended November 7, the EIA said, compared with analysts' expectations in a Reuters poll for a 1.96-million-barrel rise.

On the supply side, U.S. oil production is expected to set a larger record this year than previously forecast, even as global oil supply outpaces fuel demand, the EIA said in its Short-Term Energy Outlook report on Wednesday.

The global oil market faces an even bigger surplus next year of as much as 4.09 million barrels per day as OPEC+ producers and rivals lift output and demand growth slows, the International Energy Agency said on Thursday.

• Light Louisiana Sweet for December delivery firmed to a midpoint of a $1.30 premium and was seen bid and offered between a $1.10 and $1.50 a barrel premium to U.S. crude futures CLc1 ​

• Mars Sour strengthened to a midpoint of a 1.25-cent discount and was seen bid and offered between a discount of $1.50​​ and $1.00 a barrel to U.S. crude futures CLc1 ​

• WTI Midland was unchanged at a midpoint of a 50-cent premium and was seen bid and offered between a 25-cent and 75-cent a barrel premium to U.S. crude futures CLc1

• West Texas Sour was unchanged at a midpoint of a $1.1 discount and was seen bid and offered between a $1.20 and $1.00 a barrel discount to U.S. crude futures CLc1 ​

• WTI at East Houston, also known as MEH, traded between a 60-cent and $1.20 a barrel premium to U.S. crude futures CLc1 ​

• ICE Brent January futures LCOc1 rose 30 cents to settle at $63.01 a barrel on Thursday​

• WTI December crude CLc1 futures rose 20 cents to settle at $58.69 a barrel on Thursday​

• The Brent/WTI spread widened 15 cents to last trade at minus $4.37, after hitting a high of minus $4.21 and a low of minus $4.38