September 4, 2015 / 12:28 AM / 2 years ago

NYMEX-U.S. crude nudges higher on weaker dollar

SINGAPORE, Sept 4 (Reuters) - U.S. crude futures edged up to close to $47 a barrel in thin early Asian trade on Friday as a weaker dollar offset renewed concerns over an oil supply glut after a surprise build in U.S. crude stocks last week.

Investors were also waiting for U.S. jobs and oil rig data later on Friday to give the market direction.

FUNDAMENTALS

* U.S. crude for October delivery was up 3 cents at $46.78 barrel by 0012 GMT, after settling 50 cents higher in the previous session.

* Brent crude oil for October delivery rose 12 cents to $50.80 a barrel, after ending the previous session 18 cents higher.

* U.S. crude oil exports reached 526,000 barrels per day in July compared with 431,000 bpd the June, foreign trade data from the U.S. Census Bureau showed on Thursday. {ID:nEMNF930S4]

* Three more U.S. senators announced on Thursday they would back Iran's nuclear deal with six world powers taking to 37 the tally of senators supporting the pact which will be voted upon by Sept. 17.

* Iran's Supreme Leader, President Hassan Rouhani said he favours a parliamentary vote on its nuclear deal with world powers and called for sanctions against Tehran to be lifted completely rather than suspended, state television reported on Thursday.

* Oil exports from northern Iraq fell by around 44,000 barrels per day (bpd) in August to 472,832 bpd due to a nine-day disruption of the pipeline to Turkey, the Kurdistan region's ministry of natural resources said on Thursday.

* Russia President Vladimir Putin told Venezuelan counterpart Nicolas Maduro that both countries need to combine efforts to lift oil prices as both leaders met in Beijing during China's commemorations marking the end of World War Two on Thursday.

* BNP Paribas lowered its forecasts for oil prices on Thursday to $51 per barrel in 2015 and $56 in 2016 for U.S. crude, and $56 per barrel for 2015 and $62 for 2016 for Brent.

MARKETS NEWS

* The dollar eased slightly against a basket of currencies while the euro nursed losses early on Friday, having come under broad pressure after the European Central Bank suggested it may have to beef up its already massive stimulus programme.

DATA/EVENTS

* The following data is expected on Friday:

- 0600 GMT Germany industrial orders for July

- 1230 GMT U.S. Non-farm payrolls Aug

- 1230 GMT U.S. Unemployment rate Aug

- 1930 GMT U.S. CFTC commitment of traders data Weekly (Reporting by Keith Wallis; Editing by Joseph Radford)

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