US Cash Crude-Gulf Coast coastal grades ease as Trump meets with oil executives on Venezuela

HOUSTON, Jan 9 (Reuters) - U.S. Gulf Coast coastal grades eased again on Friday, as U.S. President Donald Trump began a meeting to discuss Venezuela with executives from some of the world's largest oil companies at the White House, saying he wants them to invest $100 billion in the country to vastly expand its production.

Mars, which competes with Venezuelan crude, eased 40 cents to a $1.90 discount. Southern Green Canyon eased 50 cents to minus $3.25.

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.

Trafigura expects to load its first vessel for exports of Venezuelan oil to the United States next week, the commodities trading house's Chief Executive Richard Holtum told U.S. President Donald Trump at the White House on Friday.

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.

• Light Louisiana Sweet for February delivery 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 CLc1. ​

• Mars Sour was at a midpoint of a 20-cent premium and was seen bid and offered between a discount of $1.70​​ and $2.10 a barrel to U.S. crude futures CLc1. ​

• WTI Midland firmed at a midpoint of a 90-cent premium and was seen bid and offered between a 70-cent and $1.10 a barrel premium to U.S. crude futures CLc1. ​

• West Texas Sour traded at a midpoint of a $1.88 discount and was seen bid and offered between a $2.00 and $1.75 a barrel discount to U.S. crude futures CLc1.

• WTI at East Houston, also known as MEH, traded between a $1.00 and $1.30 a barrel premium to U.S. crude futures CLc1.

• ICE Brent March futures LCOc1 rose $1.35 to settle at $63.34 a barrel on Friday​.

• WTI February crude CLc1 futures rose $1.36 to settle at $59.12 a barrel on Friday​.

• The Brent/WTI spread widened 1 cent to last trade at minus $4.36, after hitting a high of minus $4.26 and a low of minus $4.48.