U.S. cash crude grades pulled in different directions on Friday, dealers said, as investors weighed an expected future rise in U.S. oil output, and trade tariffs.

U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row, even as the number of oil rigs rose to the highest since June, energy services firm Baker Hughes said in its closely followed report on Friday.

Oil rigs rose by five to 489 this week, their highest since June, according to the report.

Trump on Wednesday unveiled a 10% minimum tariff on most goods imported to the United States, the world’s biggest oil consumer, with much higher duties on products from dozens of countries.

Though the White House said imports of oil, gas and refined products were exempted from the new tariffs, crude oil futures still plummeted more than 7% on Friday to a three-year low.

Light Louisiana Sweet (WTC-LLS) for May delivery gained 15 cents to a midpoint of a $2.35 premium and was seen bid and offered between a $2.25 and $2.45 a barrel premium to U.S. crude futures

Mars Sour (WTC-MRS) fell 5 cents to a midpoint of a 50-cent premium and was seen bid and offered between a 40-cent and 60-cent a barrel premium to U.S. crude futures.

WTI Midland (WTC-WTM) was steady 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.

West Texas Sour (WTC-WTS) fell 22 cents to a midpoint of a 23-cent premium and was seen bid and offered between a 5-cent and 40-cent a barrel premium to U.S. crude futures.

WTI at East Houston (WTC-MEH), also known as MEH, traded between a $1.35 and $1.55 a barrel premium to U.S. crude futures.

ICE Brent June futures fell $4.56 to settle at $65.58 a barrel.

WTI May crude futures fell $4.96 to settle at $61.99 a barrel.

The Brent/WTI spread (WTCLc1-LCOc1) widened 27 cents to last trade at minus $3.94, after hitting a high of minus $3.60 and a low of minus $3.96.
Source: Reuters