* API: Crude stocks down less than expected, products up

* Oil markets, Wall Street weighed by recovery concerns

* EIA ups 2009 world demand forecast, lowers U.S. view

NEW YORK, July 7 (Reuters) - U.S. crude oil futures
extended losses in post-settlement trading on Tuesday after
industry data showed that gasoline and distillate inventories
rose more than expected last week.

"The jump in distillates stands out, and crude was only
down 1.4 million barrels which is why we're seeing crude tick
lower," said Gene McGillian, analyst at Tradition Energy in
Stamford, Connecticut.

Earlier, crude futures ended lower for the fifth straight
day on Tuesday on concerns about the pace of economic recovery
and continued weak demand amid swollen inventories.

The American Petroleum Institute, in a report released at
4:38 p.m. EDT (2038 GMT), said that domestic crude inventories
fell 1.4 million barrels to 348.3 million barrels in the week
to July 3.

Gasoline stocks rose 767,000 barrels to 212.4 million
barrels and distillate supplies jumped 3.4 million barrels to
158 million barrels.

A Reuters poll of analysts forecast that domestic crude
stocks fell 2.4 million barrels last week. The poll also
forecast a 600,000-barrel increase in gasoline stocks and a
2.0-million-barrel build in distillate supplies. [EIA/S]

Release of the API data was delayed for a second week in a
row due to technical problems.

The U.S. Energy Information Administration will issue its
own report on Wednesday at 10:30 a.m. (1430 GMT).

Wall Street fell to a 10-week low as talk of a second
government stimulus plan stirred fears that the economy is far
from recovery. [.N]

The dollar rose against the euro as risk aversion increased
amid uncertainty about the outlook for economic growth and U.S.
corporate earnings. [USD/]

PRICES

* On the New York Mercantile Exchange, at 5 p.m. EDT (1700
GMT), August crude CLQ9 was down $1.72, or 2.69 percent, at
$62.33 a barrel, after dropping as low as $62.24. It earlier
settled down $1.12, or 1.75 percent, at $62.93, the lowest
close since May 26's $62.45. It traded earlier from $62.35 to
$64.91.

Prices have plunged since the hitting a 2009 peak on June
30 of $73.38, which was the highest intraday front-month crude
oil price since crude hit $75.69 on Oct. 21.

* In London, August Brent crude LCOQ9 was down $1.38, or
2.15 percent, at $62.67 a barrel, extending the day's low to
$62.59. It earlier ended down 82 cents, or 1.28 percent, at
$63.23 a barrel, trading from $62.69 to $64.89.

* NYMEX August RBOB RBQ9 was down 1.94 cents, or 1.11
percent, at $1.7210, It earlier settled down 0.76 cent, or 0.44
percent, at $1.7328 a gallon, the lowest settlement since May
15's $1.6806. It traded from $1.7127 to $1.7677.

* NYMEX August heating oil HOQ9 slumped 4.26 cents, or
2.62 percent, to $1.5840 a gallon, falling further to the day's
low of $1.5816. It earlier settled down 2.59 cents, or 1.59
percent, at $1.6007 a gallon, the lowest close since May 27's
$1.5617. It earlier traded from $1.5905 to $1.6421.

* The August/August RBOB crack spread <0#RB-CL=R> ended at
as $9.85, rising sharply from $6.05 on Monday. The
August/August heating oil crack spread <0#CL-HO=R> ended at
$4.30, inching up from $4.27 on Monday.

* The spread between the current front month and the
five-year forward crude contract CLc61 ended at $16.61,
widening from $16.03 on Monday. The August 2014 contract
settled at $79.54, down 54 cents, or 0.67 percent.

TECHNICALS

NYMEX crude 10-day/20-day moving average: $68.31/$69.46

Technical support/resistance:

NYMEX crude: $62.15/$66.00

NYMEX heating oil: $1.59/$1.65

NYMEX RBOB: $1.73/$1.82

For a full report on technicals, click on [ID:nL7698408]

MARKET NEWS

* The U.S. Energy Information Administration raised its
forecast for 2009 world oil demand by 170,000 barrels per day
from its June estimate of 83.68 million bpd, but lowered its
U.S. 2009 demand forecast by 10,000 bpd to 18.85 million bpd
from 18.86 million bpd previously. [ID:nN07320228]

* The U.S. regulator of futures markets is considering a
clamp down on excessive speculation in energy and commodity
trading and wants public comment on whether it should set
position limits. [ID:nN07310607]
(Reporting by Gene Ramos, Robert Gibbons and Rebekah Kebede;
Editing by Christian Wiessner)