* Global equities move higher

* EIA inventory data due later Wednesday

NEW YORK, July 15 (Reuters) - U.S. crude futures rose on
Wednesday on industry inventory data showing crude supplies
fell last week along with gasoline stocks and as positive
earnings results fueled a global equities rally.

"Crude and products futures moved higher overnight in heavy
volume after a report from the API yesterday," Addison
Armstrong, analyst at Tradition Energy in Stamford,
Connecticut, said in a note.

Tuesday's American Petroleum Institute inventory report
showed crude oil supplies fell 1.2 million barrels last week.
Gasoline stocks dipped only 69,000 barrels. Distillate supplies
rose 625,000 barrels. [ID:nN14605500]

A Reuters analyst survey yielded a forecast for U.S. crude
oil supplies to have fallen 1.6 million barrels, with gasoline
stocks expected to be up 1.0 million barrels and distillate
stocks up 1.9 million barrels. [EIA/S]

The U.S. Energy Information Administration's inventory data
is to be released on Wednesday at 10:30 a.m. EDT (1430 GMT).

"Rising product stocks have pressured refining margins,
which has had a negative impact on tanker demand during the
past six to seven weeks," Omar Nokta, head of research at
Dahlman Rose & Co, wrote in a research note.

Global stocks powered to their highest level in nearly two
weeks after blockbuster results from major firms. [MKTS/GLOB]

PRICES

* On the New York Mercantile Exchange at 9:39 a.m EDT (1339
GMT), August crude CLQ9 was up $1.10, or 1.85 percent, at
$60.62 a barrel, trading from $59.65 to $61.03.

* NYMEX August crude oil options expire on Thursday.

* In London, August Brent crude LCOQ9 rose $1.44, or 2.37
percent, to $62.30 a barrel, trading from $61.33 to $62.68. The
August Brent contract expires on Thursday.

* NYMEX August RBOB RBQ9 rose 3.11 cents, or 1.89 percent
to $1.6777 a gallon, trading from $1.6525 to $1.69.

* NYMEX August heating oil HOQ9 rose 3.27 cents, or 2.16
percent, to $1.5446 a gallon, trading from $1.5165 to $1.5541.

* The August/August RBOB crack spread <0#RB-CL=R> was at
$9.92, after ending at $9.64 on Tuesday. The August/August
heating oil crack spread <0#CL-HO=R> was at $4.28, after ending
at $3.98 on Tuesday.

* The spread between the current front month and the
five-year forward crude contract CLc61 was at $18.01, based
on the August 2014 contract Tuesday settlement at $78.63. The
spread ended Tuesday at $19.11.

TECHNICALS

NYMEX crude 10-day/20-day moving average: $62.31/$66.04

Technical support/resistance:

NYMEX crude: $58.32/$62.00

NYMEX heating oil: $1.5030/$1.5520

NYMEX RBOB: $1.6010/$1.68

For a report on technicals, click on [ID:nLF174390]

MARKET NEWS

* Nigeria's most prominent militant group said it would
observe a 60-day ceasefire from Wednesday. [ID:nLF20151]

* The factory sector in New York state in July posted the
highest reading in more than a year. [ID:nNYS005236]

* U.S. consumer prices rose at a faster-than-expected 0.7
percent pace in June, but the bulk of the increase was due to
soaring gasoline prices and the core measure of inflation
remained relatively tame. [ID:nN14266826]

* Sunoco Inc (SUN.N: Quote, Profile, Research) reported a snag Tuesday in a reformer
unit box heater at its refinery in Eagle Point, New Jersey,
according to a regulatory filing. [ID:nN15331015]
(Reporting by Robert Gibbons; Editing by Walter Bagley)