US Cash Crude-Gulf Coast grades firm after weakening earlier in the week

HOUSTON, Jan 7 (Reuters) - U.S. Gulf Coast coastal grade Mars firmed on Thursday, after largely weakening this week, as details of White House's plans to sell Venezuelan oil continued to emerge.

Mars, which competes with Venezuelan crude, firmed 50 cents to a $1.50 discount, firming from the over one-year low it touched on Wednesday. Southern Green Canyon firmed 50 cents after touching near two-year lows earlier this week.

Vitol, one of the world's largest commodity traders, has received a preliminary special license from the U.S. government to begin negotiations to import and export oil from Venezuela for 18 months, four sources said on Thursday.

Vitol would seek to finalize the license and terms under which it can operate in the South American country in the coming days, one source said. Vitol declined to comment.

President Donald Trump's administration has said it wants to control Venezuela's oil sales and revenue indefinitely, after U.S. forces captured President Nicolas Maduro on January 3. Vitol and rival Trafigura are in talks with the Trump administration about the marketing of Venezuelan oil, Reuters reported earlier.

Venezuela will be "turning over" between 30 million and 50 million barrels of "sanctioned oil" to the U.S., Trump wrote in a social media post on Tuesday.

• Light Louisiana Sweet for February delivery eased at 50 cents to 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 CLc1

• Mars Sour firmed 50 cents to a midpoint of a $1.50 discount and was seen bid and offered between a $1.75 and $1.25 a barrel discount to U.S. crude futures CLc1

• WTI Midland firmed 5 cents to a midpoint of a 80-cent premium and was seen bid and offered between a 60-cent and $1.00 a barrel premium to U.S. crude futures CLc1

• West Texas Sour eased 85 cents to a midpoint of a $2.85 discount and was seen bid and offered between a $3.00 and $2.70 discount to U.S. crude futures CLc1

• WTI at East Houston, also known as MEH, traded between a 80-cent and $1.30 a barrel premium to U.S. crude futures CLc1

• ICE Brent March futures LCOc1 rose $2.03 to settle at $61.99 a barrel on Thursday.

• WTI February crude CLc1 futures rose $1.77 to settle at $57.76 a barrel on Thursday.

• The Brent/WTI spread widened 37 cents to last trade at minus $4.43, after hitting a high of minus $4.04 and a low of minus $4.46.