NYMEX-Crude stays close to $79 on stock rise, dollar fall

TOKYO, Nov 11 (Reuters) - U.S. crude futures hovered around
$79 a barrel on Wednesday, steadying after dipping the previous
day, as news of builds in U.S. crude and distillate stockpiles
was balanced out by a sliding dollar.

FUNDAMENTALS

* NYMEX crude for December delivery CLc1 was up 5 cents at
$79.10 a barrel by 0017 GMT, after settling down 38 cents on
Tuesday, when the dollar firmed and the threat from tropical
weather in the Gulf of Mexico faded. [ID:nSP476555]

* The American Petroleum Institute, an industry group,
released weekly inventory data late on Tuesday showing crude
stocks rose 1.2 million barrels last week, higher than analyst
projections for a 600,000-barrel build, as imports rebounded.
[API/S] [EIA/S]

Inventories of distillates, which include heating oil and
diesel, posted a surprise gain of 640,000 barrels. That compared
with analysts' forecasts that they have fallen 700,000 barrels
due to colder weather in the northeastern United States.

* 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 late on Tuesday. [ID:nN10528777]

For a FACTBOX on Tropical Storm Ida's impact on energy
operations click on [ID:nN10308574].

MARKETS NEWS

* Japan's Nikkei average rose 0.6 percent on Wednesday, with
shares of machinery makers advancing on stronger-than-expected
Japanese core machinery orders for September. [.T]

* The dollar slipped on Wednesday but managed to avoid
falling below recent 15-month lows against a basket of currencies
as investors paused for breath after a recent spike in the euro
and higher-yielders. [FRX/]

* The 19-commodity Reuters-Jefferies CRB index .CRB, which
tracks 19 mostly U.S.-traded futures markets, fell 0.7 percent on
Tuesday as the dollar's rise hurt some commodities, but firm gold
prices and higher closings in corn and cotton limited the
downside. [COM/WRAP]

DATA/EVENTS

* The following data is expected on Wednesday:

- HOLIDAY-U.S. government offices, bond markets closed;

stock markets open.

- OPEC Monthly Oil Market Report

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PRICES
Oil prices as of 0017 GMT
Contract Mnth Price Change Day ago pct MA-20*
NYMEX Contracts
US Crude DEC9 $79.10 +0.05 -$0.38 -0.48% $78.96
Heat Oil DEC9 205.21 -0.02 -1.04 -0.50% 204.36
RBOB DEC9 197.43 -0.31 -0.44 -0.22% 199.13
Natgas DEC9 $4.490 +0.023 -$0.203 -4.35% $4.749
ICE Contracts
Brent DEC9 NA -$0.27 -0.35% $77.23
Gasoil NOV9 NA -$0.50 -0.08% $631.69
Note: U.S. heating oil and RBOB gasoline contracts listed in
cents per gallon.
* = 20-day moving average for continuation month.
(Reporting by James Topham)