NYMEX-Crude stable above $79, eyes EIA stock data

TOKYO, Nov 12 (Reuters) - U.S. crude futures held steady above
$79 a barrel on Thursday, with the market awaiting the release of
government data on crude and refined oil product stocks and other
economic indicators due out later in the day for directional
cues.

FUNDAMENTALS

* NYMEX crude for December delivery CLc1 was up 15 cents at
$79.43 a barrel by 0017 GMT, after settling up 23 cents on
Wednesday, when the market weighed a rebound in the dollar
against news of strong oil demand growth from China.
[ID:nSIN477862]

* U.S. crude oil inventories were expected to have risen
slightly last week on a rebound of imports, an expanded Reuters
poll of analysts showed earlier this week. [EIA/S]

Goverment agency U.S. Energy Information Administration (EIA)
will issue its weekly report later on Thursday.

Data from industry group American Petroleum Institute
released late Tuesday showed a larger-than-expected increase in
U.S. crude oil stockpiles in the week to Nov. 6, as well as gains
in gasoline and distillate inventories. [API/S]

* Chinese crude imports hit their second-highest level in
October, data showed on Wednesday, signalling that oil demand in
the Asian nation continues a gradual revival from a sharp
slowdown in late 2008 and early this year. [ID:nPEK22093]

MARKETS NEWS

* Japan's Nikkei stock average edged up 0.5 percent on
Thursday as exporters and tech shares gained after Wall Street
rose on further confirmation the global economy is strengthening.
[.T]

* The dollar regained some ground on Thursday after hitting a
low earlier, while sterling was under pressure after the Bank of
England governor's comments on its weakness. [FRX/]

The weak dollar, which fell to a 15-month low against major
currencies on Wednesday, has been the prime driver of commodity
prices in recent months as investors bought into hard assets to
hedge against potential inflation.

* The 19-commodity Reuters-Jefferies CRB index .CRB, which
tracks 19 mostly U.S.-traded futures markets, rose 0.4 percent on
Wednesday, as the weak dollar led several commodities, from
copper to corn to coffee, to rally. [COM/WRAP]

DATA/EVENTS

* The following data is expected on Thursday:

- International Energy Agency Monthly Oil Market Report

- U.S. Treasury Geithner in APEC Press Conference (0830 GMT)

- Weekly U.S. Mortgage Market Index (1200 GMT)

- Weekly U.S. Jobless Claims (1330 GMT)

- EIA Weekly U.S. Petroleum Stocks and Output Data (1600 GMT)

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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 $79.43 +0.15 +$0.23 +0.29% $79.17
Heat Oil DEC9 205.40 +0.00 +0.35 +0.17% 204.93
RBOB DEC9 199.85 +0.58 +1.53 +0.77% 199.81
Natgas DEC9 $4.510 +0.007 +$0.036 +0.81% $4.752
ICE Contracts
Brent DEC9 NA +$0.45 +0.58% $77.47
Gasoil NOV9 NA -$3.75 -0.60% $632.64
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; Editing by Chris Gallagher)