US Cash Crude-Grades rise on supply concerns as Trump's tariffs expected

Jan 31 (Reuters) - Grades rose on Friday, dealers said, as traders and investors digested news that U.S. President Donald Trump expects his administration to impose tariffs related to oil and gas in the coming weeks.

"We're going to put tariffs on oil and gas," Trump told reporters in the White House's Oval Office on Friday. "That'll happen fairly soon, I think around the 18th of February."

Asked if tariffs would be inclusive of Canadian crude , Trump said: "I'm probably going to reduce the tariff a little bit on that. We think we're going to bring it down to 10% for the oil."

In refining news, U.S. oil refiners are expected to have about 1.32 million barrels per day of (bpd) capacity offline in the week ending Jan. 31, decreasing available refining capacity by 121,000 bpd, research company IIR Energy said on Friday.

Offline capacity is expected to rise to 1.33 million bpd in the week ending Feb. 7 and fall to 992,000 bpd the subsequent week, IIR added.

Light Louisiana Sweet WTC-LLS for March delivery rose 20 cents to a midpoint of a $3.05 premium and was seen bid and offered between a $2.95 and $3.15 a barrel premium to U.S. crude futures CLc1

Mars Sour WTC-MRS rose 15 cents to a midpoint of a $1.45 premium and was seen bid and offered between a $1.35 and $1.55 a barrel premium to U.S. crude futures CLc1

WTI Midland WTC-WTM was steady at a midpoint of a $1.10 premium and was seen bid and offered between a 90-cent and $1.30 a barrel premium to U.S. crude futures CLc1

West Texas Sour WTC-WTS rose $1.20 to a midpoint of a 70-cent premium and was seen bid and offered between a 60-cent and 80-cent a barrel premium to U.S. crude futures CLc1

WTI at East Houston WTC-MEH, also known as MEH, traded between a $1.50 and $1.70 a barrel premium to U.S. crude futures CLc1

ICE Brent March futures LCOc1 fell 11 cents to settle at $76.76 a barrel

WTI March crude CLc1 futures fell 20 cents to settle at $72.53 a barrel

The Brent/WTI spread WTCLc1-LCOc1 widened 3 cents to last trade at minus $4.17, after hitting a high of minus $3.94 and a low of minus $4.29