NYMEX-Oil rises to $77 after last week's fall

PERTH, Nov 16 (Reuters) - U.S. crude oil futures rose to
$77 a barrel on Monday, reversing the previous session's
losses, helped by improved risk appetite and a weaker U.S.
dollar.

FUNDAMENTALS

* U.S. crude for December delivery CLc1 rose 70 cents to
$77.05 a barrel by 2356 GMT. The contract settled down 59 cents
at $76.35 a barrel on Friday, after having touched a one-month
low.

* OPEC should keep oil production unchanged at its last
meeting of the year in December due to high oil stocks and weak
fundamentals in the global economy, the group's president said
on Friday. [ID:nLD725741]

* Japan's economy grew 1.2 percent in July-September from
the previous three months, marking a second straight quarterly
expansion, but analysts warn the recovery may lose momentum in
coming quarters due to weak domestic demand. [ID:nTKZ006307]

* Money managers cut their net long crude oil positions on
the New York Mercantile Exchange in six days through Nov. 9,
the Commodity Futures Trading Commission said in a report on
Friday. [ID:nN13475286]

MARKETS NEWS

* The U.S. dollar drifted lower in Asia on Monday, heading
into a week that is likely to see increased rhetoric on
currencies from both China and visiting U.S. President Barack
Obama. [USD/]

* U.S. stocks could face difficulty gaining traction this
week as the S&P 500 bumps against the 1,100 mark and investors
become content to cool their heels rather than risk losing
gains made for the year. [ID:nN15484280]

* Asian stocks are set to open stronger on Monday as global
markets finished last week higher on solid results and
corporate activity. [ID:nWEL540954]

DATA/EVENTS

* The following data is expected on Monday:

- Japan GDP for third-quarter (1050 local time)

- US NY Fed manufacturing for Nov (1330 GMT)

- US Retail Sales for Oct (1330 GMT)

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PRICES
Oil prices as of 2356 GMT
Contract Mnth Price Change Day ago pct MA-20*
NYMEX Contracts
US Crude DEC9 $77.05 +0.70 -$0.59 -0.77% $79.03
Heat Oil DEC9 197.60 +0.99 -2.49 -1.25% 204.47
RBOB DEC9 192.76 +1.14 -2.43 -1.25% 199.47
Natgas DEC9 $4.444 +0.052 +$0.022 +0.50% $4.727
ICE Contracts
Brent JAN0 $77.00 +0.69 -$0.46 -0.60% $77.48
Gasoil DEC9 $613.50 +2.50 -$4.25 -0.69% $632.36
Note: U.S. heating oil and RBOB gasoline contracts listed in
cents per gallon.
* = 20-day moving average for continuation month.
(Reporting by Fayen Wong; Editing by Kim Coghill)