NYMEX-Crude choppy, dollar supports ahead of data

* Dollar weakens against euro

* Government oil inventory data due later Wednesday

NEW YORK, Sept 16 (Reuters) - U.S. crude futures seesawed
near unchanged on Wednesday, with support from the weak dollar
and recovery optimism lifting equities markets.

The dollar was lower against the euro and yen on Wednesday
after U.S. Treasury data showed a sharp increase in net capital
outflow from the United States in July. [USD/]

"Oil is real, data ephemeral," said Mike Fitzpatrick, vice
president at MF Global in New York, commenting on crude futures
strength in the face of high inventories and tepid demand.

Oil markets await government oil inventory data after a
surprising industry data released late on Tuesday.

The American Petroleum Institute said on Tuesday that crude
stocks rose 631,000 barrels last week. [ID:nN1577720]

Gasoline stocks rose 1.3 million and distillate stocks
jumped 5.2 million barrels, the API said.

A Reuters survey of analysts had forecast crude to be down
2.4 million barrels, with gasoline supplies expected to be up
600,000 barrels and distillate stocks up 1.3 million barrels.

The U.S. Energy Information Administration's inventory
report is due at 10:30 a.m. EDT (1430 GMT).

The Labor Department said on Wednesday its Consumer Price
Index rose 0.4 percent in August after having been flat in
July. Gasoline prices surged 9.1 percent. Compared with the
year-ago period, consumer prices declined 1.5 percent.

Stripping out volatile energy and food prices, the closely
watched core measure of consumer inflation rose 0.1 percent in
August after rising 0.1 percent in July. [ID:nN15416331]

PRICES

* On the New York Mercantile Exchange, at 9:50 a.m EDT
(1350 GMT), October crude CLV9 was up 13 cents, or 0.18
percent, at $71.06 a barrel, trading from $70.14 to $71.42.

* NYMEX October RBOB RBV9 was near flat, down 0.52 cent,
or 0.29 percent, to $1.7840 a gallon, trading from $1.7664 to
$1.7920.

* NYMEX October heating oil HOV9 fell 1.24 cents, or 0.7
percent, to $1.7677 a gallon, trading from $1.7534 to $1.7805.

* The October/October RBOB crack spread <0#RB-CL=R> was at
$3.89, after ending at $4.22 on Tuesday. The October/October
heating oil crack spread <0#CL-HO=R> was at $3.38, after ending
at $3.83 on Tuesday.

* The spread between the current front month and the
five-year forward crude contract CLc61 was at $12.33, based
on the October 2014 contract Tuesday settlement at $83.39. The
spread ended Tuesday at $12.46.

TECHNICALS

NYMEX crude 10-day/20-day moving average: $69.82/$70.91

Technical support/resistance:

NYMEX crude: $68.02/$72.90

NYMEX heating oil: $1.7305/$1.7817

NYMEX RBOB: $1.7429/$1.7978

For a full report on technicals, click on [ID:nLG093707]

MARKET NEWS

* Global equities rose to new 11-month peaks, with more and
more investors joining the rush to sell low-yield dollars in
favor of growth-oriented stocks and commodities. [MKTS/GLOB]

* OPEC may need to cut oil supply next year to match a fall
in demand for the group's crude, a Kuwaiti OPEC delegate said
in a column published in a Kuwaiti newspaper. [ID:nLG49864]

* Nigeria's main militant group said it was extending a
two-month-old cease-fire in the oil-producing Niger Delta by 30
days but warned the government an amnesty program had not yet
tackled key issues. [ID:nLF700145]
(Reporting by Robert Gibbons; Editing by Lisa Shumaker)