US Cash Crude-Grades steady ahead of proposed U.S. tariffs on Mexico, Canada

Feb 28 (Reuters) - U.S. cash crude prices were little changed on Friday, dealers said, as markets awaited proposed 25% U.S. tariffs on Mexican and Canadian goods early next week.

U.S. President Donald Trump on Thursday said his proposed 25% tariffs on Mexican and Canadian goods will take effect on Tuesday, along with an extra 10% duty on Chinese imports.

Trump has also announced the termination of an oil deal with Venezuela.

Fears of tightening heavy crude supplies along the U.S. Gulf Coast have boosted prices for medium sour grade Mars this week.

Meanwhile, U.S. energy firms this week cut the number of oil rigs by two, energy services firm Baker Hughes BKR.O said. In February, the oil rig count increased by seven, the most in a month since November 2022.

In refining news, U.S. oil refiners are expected to have about 1.1 million barrels per day of capacity offline in the week ending February 28, increasing available refining capacity by 252,000 bpd, research company IIR Energy said.

Light Louisiana Sweet WTC-LLS for April delivery eased 25 cents to a midpoint of a $3.75 premium and was seen bid and offered between a $3.50 and $4.00 a barrel premium to U.S. crude futures CLc1

Mars Sour WTC-MRS eased 5 cents to a midpoint of a $2.1 premium and was seen bid and offered between a $1.90 and $2.3 a barrel premium to U.S. crude futures CLc1

WTI Midland WTC-WTM was unchanged at a midpoint of a $1.05 premium and was seen bid and offered between a 95-cent and $1.15 a barrel premium to U.S. crude futures CLc1

West Texas Sour WTC-WTS strengthened 2.5 cents to a midpoint of a 60-cent premium and was seen bid and offered between a 40-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 $1.15 and $1.35 a barrel premium to U.S. crude futures CLc1

ICE Brent April futures LCOc1 fell 86 cents to settle at $73.18 a barrel

WTI April crude CLc1 futures fell 59 cents to settle at $69.76 a barrel

The Brent/WTI spread WTCLc1-LCOc1 narrowed 14.0cents to last trade at minus $3.48, after hitting a high of minus $3.42 and a low of minus $3.64.