Mars firms on last day of roll trade

Mars firmed on Friday, dealers said, on the last day of roll trade after touching four-month lows earlier this week.

Mars strengthened to a premium of 15 cents to U.S. West Texas Intermediate crude.

The cash roll from June to July traded at 70 cents. Traders use the three-day roll trade to square positions and manage exposure and trading tends to be volatile.

Meanwhile, U.S. energy firms this week cut the number of oil by eight, bringing the count to the lowest since November 2021, energy services firm Baker Hughes BKR said in its closely followed report.

Spot premiums for Murban crude hit six-month lows on surging supply as the United Arab Emirates ramps up output, squeezing U.S. West Texas Intermediate oil out of Asian markets.

* Light Louisiana Sweet (WTC-LLS) for June delivery eased 20 cents to a midpoint of a $2.30 premium and was seen bid and offered between a $2.10 and $2.50 a barrel premium to U.S. crude futures CL1!

* Mars Sour (WTC-MRS) firmed 15 cents to a midpoint of a 15-cent premium and was seen bid and offered between parity and 30-cent a barrel premium to U.S. crude futures CL1!

* WTI Midland (WTC-WTM) gained 5 cents to a midpoint of a 65-cent premium and was seen bid and offered between a 40-cent and 90-cent a barrel premium to U.S. crude futures CL1!

* West Texas Sour (WTC-WTS) was seen bid and offered between a discount of 10 cents and 40-cent a barrel premium to U.S. crude futures CL1!

* WTI at East Houston (WTC-MEH), also known as MEH, traded between a 60-cent and $1.00 a barrel premium to U.S. crude futures CL1!

* ICE Brent July futures BRN1! rose 34 cents to settle at $64.78 a barrel on Friday

* WTI July crude CL1! futures rose 33 cents to settle at $61.53 a barrel on Friday

* The Brent/WTI spread (WTCLc1-LCOc1) widened 2 cents to to last trade at minus $3.26, after hitting a high of minus $3.13 and a low of minus $3.28