US Cash Crude-Grades broadly little changed despite Trump tariff threat

March 31 (Reuters) - U.S. cash crude prices were broadly little changed on Monday, despite President Donald Trump's threat to hit buyers of Russian oil with tariffs, as most traders globally questioned the seriousness of the warning.

Trump's proposal to hit buyers with a 25% to 50% tariff would be significant for oil markets if it turns into an order. But analysts and traders questioned whether the threat was just Trump showing one of many cards in his talks with Russia.

While cash prices for Light Louisiana Sweet LLS weakened on Monday 50 cents at a midpoint of a $2.50 premium, most cash grades in the U.S. firmed or weakened only marginally.

U.S. crude oil production fell by 305,000 barrels per day to 13.15 million bpd in January, the lowest level since February 2024, data from the U.S. Energy Information Administration showed on Monday.

Meanwhile, the Brent crude futures contract LCOc1 was due to expire on Monday, causing the front-month spread between U.S. West Texas Intermediate crude futures and Brent to narrow significantly WTCLc1-LCOc1.

Light Louisiana Sweet WTC-LLS for May delivery dropped 50 cents at a midpoint of a $2.50 premium and was seen bid and offered between a $2.00 and $3.00 a barrel premium to U.S. crude futures CLc1

Mars Sour WTC-MRS weakened 5 cents at a midpoint of a 85-cent premium and was seen bid and offered between a 75-cent and 95-cent a barrel premium to U.S. crude futures CLc1

WTI Midland WTC-WTM weakened 5 cents at a midpoint of a $1 premium and was seen bid and offered between a 90-cent and $1.10 a barrel premium to U.S. crude futures CLc1

West Texas Sour WTC-WTS firmed 5 cents at a midpoint of a 20-cent premium and was seen bid and offered between a 10-cent and 30-cent a barrel premium to U.S. crude futures CLc1

WTI at East Houston WTC-MEH, also known as MEH, traded between a $1.25 and $1.45 a barrel premium to U.S. crude futures CLc1

ICE Brent May futures LCOc1 rose $1.11 to settle at $74.74 a barrel on Monday

WTI May crude CLc1 futures rose $2.12 to settle at $71.48 a barrel on Monday

The Brent/WTI spread WTCLc1-LCOc1 narrowed to last trade at minus $3.02, after hitting a high of minus $3.02 and a low of minus $4.35