NYMEX-Crude ends lower on dollar, storm Ida fades
* Dollar stronger after recent battering
* Tropical Storm Ida goes ashore, downgraded
NEW YORK, Nov 10 (Reuters) - U.S. crude futures ended lower on Tuesday, retreating from an early high above $80 a barrel on the fading threat from tropical weather in the Gulf of Mexico and the dollar's bounce.
"Crude pulled back from its highs because the dollar bounced a bit and there was no sizzle after the Ida fizzle," said Andrew Lebow, broker at MF Global in New York.
The dollar bounced off a 15-month low on Tuesday and the euro dipped below $1.50. [USD/]
Companies began restoring Gulf of Mexico operations after Tropical Storm Ida went ashore and was downgraded to a tropical depression. But the U.S. Minerals Management Service said more than 43 percent of oil output and nearly 28 percent of natural gas output remained shut on Tuesday. [ID:nN10528777]
For a FACTBOX on Tropical Storm Ida's impact on energy operations click on [ID:nN10308574].
The American Petroleum Institute released weekly inventory data late on Tuesday, after the NYMEX settlement, showing crude stocks up 1.2 million barrels last week. [API/S]
The API report showed total distillate stocks rose 640,000 barrels, with heating oil inventories up 935,000 barrels. Gasoline stocks also rose, up 1.4 million barrels.
The API report said refinery utilization rose 0.1 percentage point higher to 80.6 percent of capacity.
U.S. Energy Information Administration data will be delayed a day to Thursday at 11:00 a.m. EST (1600 GMT) due to a holiday.
An expanded Reuters survey on Tuesday yielded a forecast for crude supplies to have risen 600,000 barrels last week, with gasoline stocks unchanged and distillate inventories down 700,000 barrels. [EIA/S]
PRICES
* On the New York Mercantile Exchange, December crude CLZ9 fell 38 cents, or 0.48 percent, to settle at $79.05 a barrel, trading from $77.89 to $80.51. Crude ended Globex electronic post-settlement trading down 59 cents at $78.84, little changed by the API data release.
* In London, December Brent crude LCOZ9 fell 27 cents to settle at $77.50 a barrel, trading from $76.36 to $78.92. The December Brent contract expires on Friday.
* NYMEX December RBOB RBZ9 fell 0.44 cent, or 0.22 percent to settle at $1.9774 a gallon, trading from $1.9480 to $2.0174.
* NYMEX December heating oil HOZ9 fell 1.04 cents, or 0.5 percent, to settle at $2.0523 a gallon, trading from $2.0295 to $2.0905.
* The December/December RBOB crack spread <0#RB-CL=R> ended at $4.00, after ending at $3.81 on Monday. The December/December heating oil crack spread <0#CL-HO=R> ended at $7.15, after ending at $7.20 on Monday.
* The spread between the current front-month crude contract and the five-year forward contract CLc61 ended at $12.39, based on the December 2014 contract Tuesday settlement at $91.44, down 50 cents on the day. The spread ended Monday at $12.51.
TECHNICALS
NYMEX crude 10-day/20-day moving average: $78.81/$78.97
Technical support/resistance:
NYMEX crude: $76.50/$82.00
NYMEX heating oil: $2.06/$2.1289
NYMEX RBOB: $1.9818/$2.09
For a full report on technicals, click on [ID:nLA644313]
MARKET NEWS
* U.S. retail gasoline demand last week rose 2.2 percent from a year ago in the week to Nov. 6, but was down 2.3 percent against the prior week, according to a MasterCard SpendingPulse report. [ID:nNYS007520]
* The EIA raised its expectation for 2010 world oil demand but lowered its expectation for U.S. demand. [ID:nN10320501] (Reporting by Robert Gibbons; Editing by Marguerita Choy)
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