Feb 7 (Reuters) - U.S. physical crude grades edge marginally higher on Friday, dealers said, as markets worried about tight supplies after new sanctions on Iran's crude exports and threats of tariffs on other countries.
President Donald Trump told Republican lawmakers that he plans to announce reciprocal tariffs as early as Friday, two sources familiar with the plans told Reuters.
Meanwhile, oil and gas traders are likely to seek waivers from Beijing over tariffs that the Chinese government plans to impose on U.S. crude and liquefied natural gas $(LNG)$ imports from February 10, trade sources said on Thursday.
On the supply side, U.S. energy firms this week added oil and natural gas rigs for a second week in a row for the first time since July 2024, energy services firm Baker Hughes BKR.O said in its closely followed report on Friday.
In refining news, U.S. oil refiners are expected to have about 1.58 million barrels per day of capacity offline in the week ending February 7, decreasing available refining capacity by 160,000 bpd, research company IIR Energy said on Friday.
* Light Louisiana Sweet WTC-LLS for March delivery was unchanged at a midpoint of a $3.05 premium and was seen bid and offered between a $2.90 and $3.20 a barrel premium to U.S. crude futures CLc1
* Mars Sour WTC-MRS strengthened 20 cents to a midpoint of a $1.05 premium and was seen bid and offered between a 90-cent and $1.2 a barrel premium to U.S. crude futures CLc1
* WTI Midland WTC-WTM gained 5 cents to a midpoint of a $1.15 premium and was seen bid and offered between a 95-cent and $1.35 a barrel premium to U.S. crude futures CLc1
* West Texas Sour WTC-WTS was unchanged at a midpoint of a 55-cent discount and was seen bid and offered between a 75-cent and 35-cent a barrel discount to U.S. crude futures CLc1
* WTI at East Houston WTC-MEH, also known as MEH, traded between a $1.45 and $1.65 a barrel premium to U.S. crude futures CLc1
* ICE Brent April futures LCOc1 rose 37 cents to settle at $74.66 a barrel on Friday
* WTI March crude CLc1 futures rose 39 cents to settle at $71 a barrel on Friday
* The Brent/WTI spread WTCLc1-LCOc1 narrowed 4 cents to last trade at minus $3.88, after hitting a high of minus $3.85 and a low of minus $4.00
(Reporting by Arathy Somasekhar in Houston; Editing by Alan Barona)
((arathy.s@tr.com))
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