NYMEX-Crude edges higher over $61 after stockpile fall

TOKYO, July 16 (Reuters) - U.S. crude futures climbed higher
over $61 a barrel on Thursday, extending gains from the previous
day when prices were boosted by data showing crude supplies fell
last week, a weaker dollar and rising equities.

FUNDAMENTALS

* U.S. oil prices Clc1 settled up 3.4 percent on Wednesday,
after domestic crude stockpiles fell more than expected last week
as refiners ran their plants harder to make fuels. [ID:nSP476597]

* The Energy Information Administration (EIA) said commercial
crude oil stocks fell 2.8 million barrels last week, against a
forecast of a 1.6 million barrel drop made by analysts polled by
Reuters. [EIA/S]

* OPEC could cut output at a meeting in September if oil
falls below $50-$55 a barrel, a member of Kuwait's Supreme
Petroleum Council said on Wednesday. [ID:nLF271261]

MARKETS NEWS

* Japan's Nikkei average rose 1.4 percent on Thursday, with
exporters up on a weaker yen and after results from Intel Corp
lifted hopes for a rebound in technology spending and boosted
Wall Street. [.T]

* On Thursday, the dollar stayed near a one-month low against
major currencies hit the previous day, when better-than-expected
results from Intel and Goldman Sachs boosted confidence about
corporate earnings and the outlook for the economy. [FRX/]

* Copper futures rose 4 percent to a one-month high on
Wednesday, surging along with oil amid signs that the U.S.
industrial sector could be mending, while the weaker dollar made
commodities attractive to overseas buyers. [nN15366740]

DATA/EVENTS

* The following data is expected on Thursday:

- Weekly U.S. Jobless Claims (1230 GMT)

- U.S. Net Cap Inflows/Foreign Treasury Buys (1300 GMT)

- Phila. Fed Business Activity Index for July (1400 GMT)

- U.S. NAHB Index for July (1700 GMT)

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PRICES
Oil prices as of 0008 GMT
Contract Mnth Price Change Day ago pct MA-20*
NYMEX Contracts
US Crude AUG9 $61.80 +0.26 +$2.02 +3.39% $66.09
Heat Oil AUG9 158.80 +0.59 +7.02 +4.64% 168.14
RBOB AUG9 171.79 +0.98 +6.15 +3.73% 181.26
Natgas AUG9 $3.284 +0.001 -$0.146 -4.26% $3.698
ICE Contracts
Brent AUG9 NA +$2.23 +3.66% $65.92
Gasoil AUG9 $513.25 +10.50 +$11.50 +2.34% $533.01
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)