NYMEX crude edges up towards $61 on stronger gasoline, jobs

SINGAPORE, July 10 (Reuters) - U.S. crude oil futures rose
for a second day running on Friday, heading towards $61 as talk
of refinery shutdowns supported gasoline futures and a drop in
U.S. weekly employment claims brought cheer to the market.

FUNDAMENTALS

* NYMEX crude for August delivery CLc1 rose 19 cents to
$60.60 barrel in Globex electronic trading by 0048 GMT.

The contract settled 27 cents up on Thursday at $60.41,
bringing an end to a six-day losing streak that was the longest
since mid-December as talk of refinery shutdowns stirred
gasoline supply concerns.

* NYMEX gasoline led the complex's gain with the August
RBOB RBOB9 contract settling up 3.05 cents at $1.6638 a
gallon.

* Chevron Corp (CVX.N) is shutting a reformer and a diesel
hydrotreater at its 245,271 barrel per day (bpd) Richmond,
California, refinery for planned work, sources familiar with
refinery operations said. [ID:nN09485139]

* Valero Energy Corp (VLO.N) said it had begun the process
of a planned two- to three-month shutdown, mainly due to
economic reasons, of its 275,000-bpd Aruba refinery.
[ID:nN09456571]

* Royal Dutch Shell Plc (RDSa.L) said it is conducting a
strategic review of its Montreal East refinery in Canada, which
may lead to a closure or sale as the industry struggles with
weak profit margins. [ID:nN09449064]

* OPEC seaborne oil exports, excluding Angola and Ecuador,
will fall 50,000 barrels per day to 22.80 million bpd in the
four weeks to July 25, said Roy Mason, an analyst at UK
consultancy Oil Movements, who tracks future shipments.
[ID:nWLA8676]

MARKET NEWS

* Japan's Nikkei average rose 0.6 percent on Friday, with
Fast Retailing, an operator of casual clothing stores,
advancing 2.1 percent after reporting a jump in quarterly
operating profit the previous day. [.T]

* Initial claims for state unemployment insurance fell
52,000 to a much lower-than-expected seasonally adjusted
565,000 in the week ended July 4 from 617,000 the prior week,
the Labor Department said. It was the lowest reading since
January.ID:nN08382700]

* The Intercontinental Exchange (ICE.N), the Atlanta-based
exchange operator, said Thursday it welcomes the chance to
present its views in hearings being scheduled by the CFTC.
[ID:nN09443645]

DATA/EVENTS

*The following data is expected on Friday:

- China trade data

- UK June producer prices (0830 GMT)

- OECD leading indicators (1000 GMT)

- U.S. weekly ECRI index (1430 GMT) To read the previous
day's closing report click on [O/R] To read the previous
technical report click on [O/I] Diary of upcoming
energy news and events [O/DIARY] Oil prices as of
0048 GMT Contract Mnth Price Change Day ago
pct MA-20* NYMEX Contracts
US Crude AUG9 $60.60 +0.19 +$0.27 +0.45% $68.35
Heat Oil AUG9 154.45 +1.01 -0.35 -0.23% 174.14 RBOB

AUG9 166.90 +0.52 +3.05 +1.87% 189.20 Natgas
AUG9 $3.437 +0.029 +$0.055 +1.64% $3.836 ICE
Contracts
Brent AUG9 $61.15 +0.05 +$0.67 +1.11% $67.73
Gasoil JUL9 $492.00 +8.25 -$4.75 -0.97% $550.98
Note: U.S. heating oil and RBOB gasoline contracts listed in
cents per gallon.
* = 20-day moving average for continuation month.

(Reporting by Maryelle Demongeot; Editing by Ben Tan)