NYMEX-Crude up but choppy as weak dollar supports

* NYMEX October crude oil options expire on Thursday

* Dollar weakness provides support to crude futures

NEW YORK, Sept 17 (Reuters) - U.S. crude futures edged up
in seesaw trading on Thursday as the weak dollar supported oil
even as concerns about demand and swelling refined products
inventories weighed on the market.

NYMEX October crude oil options expire on Thursday, which
could provide some volatility.

The dollar fell broadly on Thursday, hitting a one-year low
against the euro as expectations of economic recovery sent
investors looking for higher-returning assets. [USD/]

While government data showed the number of U.S. workers
filing new claims for jobless benefits unexpectedly fell last
week, there was a rise in the number of those still on the
benefit rolls after an initial week of aid. [ID:nN17191468]

U.S. housing starts and permits rose in August to their
highest level since November. [IDnN16145484]

"(S)taying in the plus column has proven challenging as
bearish fundamentals continue to restrict any buying interest
of a commercial nature," Jim Ritterbusch, president at
Ritterbusch & Associates said in a note.

"But purchases from the large speculators are still evident
on even minor price pullbacks as strong equity markets and new
lows in the dollar continue to generate enough upward momentum
...," Ritterbusch added.

The U.S. Energy Information Administration on Wednesday
said crude stocks fell 4.7 million barrels last week, much more
than expected. [EIA/S]

But distillate stocks rose 2.2 million barrels, more than
expected, and gasoline stocks edged up 500,000 barrels, even as
refinery utilization dipped 0.3 percentage point and stood at
86.9 percent of capacity.

The EIA will release natural gas storage data at 10:30 a.m.
EDT (1430 GMT) on Thursday.

Global equities rallied, pushing the benchmark world index
to a fresh 11-month high. [MKTS/GLOB] Wall Street was weaker at
the open. [.N]

PRICES

* On the New York Mercantile Exchange, at 10:01 a.m EDT
(1401 GMT), October crude CLV9 was up 26 cents, or 0.36
percent, at $72.77 a barrel, trading from $71.66 to $73.16.

* In London, November Brent crude LCOX9 was down 17
cents, or 0.24 percent, to $71.50 a barrel, trading from $70.92
to $71.77.

* NYMEX October RBOB RBV9 edged up 2.03 cents, or 1.1
percent, to $1.8686 a gallon, trading from $1.8325 to $1.8731.

* NYMEX October heating oil HOV9 rose 2.49 cents, or 1.36
percent, to $1.8507 a gallon, trading from $1.8151 to $1.8570.

* The October/October RBOB crack spread <0#RB-CL=R> was at
$5.49, after ending at $5.12 on Wednesday. The October/October
heating oil crack spread <0#CL-HO=R> was at $4.76, after ending
at $4.17 on Wednesday.

* The spread between the current front month and the
five-year forward crude contract CLc61 was at $11.90, based
on the October 2014 contract Wednesday settlement at $84.67.
The spread ended Wednesday at $12.16.

TECHNICALS

NYMEX crude 10-day/20-day moving average: $70.46/$71.01

Technical support/resistance:

NYMEX crude: $70.00/$75.00

NYMEX heating oil: $1.7856/$1.8660

NYMEX RBOB: $1.8058/$1.8908

For a full report on technicals, click on [ID:nLH515855]

MARKET NEWS

* Iran has raised the official selling prices of all its
crudes for October loading to Asia and Northwest Europe, a
source with National Iranian Oil Co said. [ID:nSP190950]

* Copper fell nearly 1 percent, erasing earlier gains
despite a supportive weak dollar, as rising inventories
reflected weak demand and on expectations of slower Chinese
imports. [ID:nLH472057]
(Reporting by Robert Gibbons; editing by Jim Marshall)