NYMEX-Crude steady below $80 after fall on EIA data

Thu Jan 14, 2010 12:38am GMT

Quotes

   

 TOKYO, Jan 14 (Reuters) - U.S. crude futures were steady on
Thursday after falling for three days in a row, hurt in part by
builds in U.S. crude and distillate inventories despite colder
weather.
 FUNDAMENTALS
 * NYMEX crude for February delivery CLc1 was up 7 cents at
$79.72 a barrel by 0010 GMT, after settling down $1.14 at $79.65
a day earlier.
 On Wednesday, it touched an intraday low of $78.37, the
lowest since Dec. 29.
 * Wednesday's decline came after Energy Information
Administration data showed U.S. crude stocks shot up by 3.7
million barrels last week, above the forecast rise of 1.2 million
barrels in a Reuters poll. [EIA/S]
 The stocks of distillates, which include heating oil and
diesel, showed a surprise rise of 1.4 million barrels, although
heating oil stocks dropped 1.1 million barrels due to a freeze in
the U.S. Northeast market. Gasoline stocks rose a
larger-than-expected 3.8 million barrels.
 * Exxon Mobil Corp (XOM.N) restored a delayed coking unit to
normal operations on Tuesday at its 567,000 barrel per day (bpd)
refinery in Baytown, Texas, according to a notice filed on
Wednesday with Texas pollution regulators. [ID:nN13196560]
 * Temperatures in the northern United States will shift to
above normal or even well above normal later this week and into
next week, forecaster Telvent DTN said. [ID:nDTN528]
 MARKETS NEWS
 * U.S. stocks rose on Wednesday as investors bet on recently
weakened technology and financial shares ahead of earnings from
bellwethers Intel Corp (INTC.O) and JPMorgan Chase & Co (JPM.N),
taking the Dow industrials to a fresh 15-month high.
 * The dollar and the yen steadied on Thursday, having ceded
ground in the previous session, while the Australian dollar
retained gains ahead of a key jobs report due later in the
session. [USD/]
 DATA/EVENTS
 * The following data is expected on Thursday:
 - 0700 GMT--Germany CPI Final/Dec
 - 1245 GMT--ECB Rate Decision/Jan
 - 1330 GMT--U.S. Import-Export Prices/Dec.
 - 1330 GMT--U.S. Retail Sales/Dec.
 - 1330 GMT--U.S. Initial Jobless Benefit Claims/Wkly
 - 1500 GMT--Business Inventories/Nov
 - 1500 GMT--Philly Fed Bus Index (r)/Dec
 - Feb 2010 ICE Brent Crude Futures Contract Expires
 RELATED NEWS
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> Pickens says oil to hit $90/bbl by end year [nN13135765]
 PRICES
 Oil prices as of 0010 GMT          
 Contract Mnth    Price  Change  Day ago     pct     MA-20*
 NYMEX Contracts
 US Crude FEB0   $79.72   +0.07   -$1.14  -1.41%     $78.10
 Heat Oil FEB0   209.82   +0.36    -3.72  -1.75%     207.54
 RBOB     FEB0   205.90   -0.12    -3.76  -1.79%     201.29
 Natgas   FEB0   $5.742  +0.009  +$0.142  +2.54%     $5.717
 ICE Contracts
 Brent    FEB0       --   +0.00   -$0.99  -1.25%     $77.30
 Gasoil   FEB0       --   +0.00  -$22.25  -3.38%    $627.86
 Note: U.S. heating oil and RBOB gasoline contracts listed in
cents per gallon.
 * = 20-day moving average for continuation month.
 (Reporting by Osamu Tsukimori; Editing by Edwina Gibbs)








































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