Mars gained on Friday, dealers said, as the spread between West Texas Intermediate and Brent widened to its most in four and a half months.

WTI Midland and WTI at East Houston, also known as MEH, were flat, while Mars gained 35 cents.

The spread between Brent and U.S. WTI crude widened to as much as minus $4.61, its widest discount since April 30. A spread wider than minus $4 encourages U.S. exports.

On the supply side, Baker Hughes said oil rigs rose by two to 416 this week, their highest since July.

In refining news, Valero Energy said it was overhauling the gasoline-producing fluidic catalytic cracking unit at its 180,000 barrel-per-day Memphis, Tennessee, refinery, people familiar with plant operations said on Thursday.

U.S. oil refiners are expected to have about 585,000 barrels per day of capacity offline in the week ending September 12, decreasing available refining capacity by 154,000 bpd, research company IIR Energy said on Friday.

Light Louisiana Sweet for October delivery eased 20 cents to a midpoint of a $2.00 premium and was seen bid and offered between a $1.80 and $2.20 a barrel premium to U.S. crude futures

Mars Sour firmed 35 cents to a midpoint of a 10-cent premium and was seen bid and offered between a discount of 10 cents and 30-cent a barrel premium to U.S. crude futures

WTI Midland was unchanged at a midpoint of a 95-cent premium and was seen bid and offered between a 75-cent and $1.15 a barrel premium to U.S. crude futures

West Texas Sour eased 10 cents to a midpoint of a 15-cent discount and was seen bid and offered between a discount of 35 cents and 5-cent a barrel premium to U.S. crude futures

WTI at East Houston, also known as MEH, traded between a $1.00 and $1.60 a barrel premium to U.S. crude futures

ICE Brent November futures rose 62 cents to settle at $66.99 a barrel on Friday

WTI October crude futures rose 32 cents to settle at $62.69 a barrel on Friday

The Brent/WTI spread widened 25 cents to last trade at minus $4.54, after hitting a high of minus $4.26 and a low of minus $4.61.
Source: Reuters