Just over two weeks ago, the price differential for Mars sour crude oil that is delivered from Gulf Coast offshore platforms to Clovelly, LA closed ($1.20)/bbl below the price of NYMEX-CME Domestic Sweet (DSW) - the commonly quoted prompt month futures contract price of crude oil. As discussed in Gulf Coast Sour Crude, this was the weakest price differential for Mars since November 2024.
Mars is an important price marker for medium sour crude oil produced in the offshore Gulf and is often seen as a barometer to assess the supply availability and relative price of competing imported sour grades such as those from Canada, Mexico, other parts of Latin America, and the Middle East.
