NYMEX-Crude ends down, products sink as supplies up

* EIA: U.S. petroleum stocks up across the board

* Equities extend gains as Fed sees economy gaining

* Dollar falls versus euro after Fed statement

* Heating oil, gasoline futures slump as demand dips

NEW YORK, Sept 23 (Reuters) - U.S. crude futures closed
nearly 4 percent lower on Wednesday, clearly stung by data
showing unexpectedly large weekly increases in domestic crude
oil and refined product supplies.

Gasoline and heating oil futures slumped as their
inventories shot up with weekly demand falling sharply.

"Today's data certainly was on the bearish side across the
board. Crude builds are largely the result of lower refinery
utilization and stronger-than-expected imports," said Chris
Jarvis, senior analyst at Caprock Risk Management, in Hampton
Falls, New Hampshire.

In a much-awaited policy statement after a two-day meeting,
the Federal Reserve said that the U.S. economy was in recovery
after a severe downturn and decided to slow purchases of
mortgage debt. The Fed also kept interest rates unchanged.
[ID:nN23390829]

The U.S. dollar fell against the euro [USD/] while Wall
Street advanced on the Fed's optimistic view. [.N]

"The Fed statement appears to be identical to the one they
issued in their last meeting. Before the statement, I thought
crude futures were going to retest the day's lows again, but
the S&P turned higher, which seemed to indicate following the
Fed statement that the economy was beginning to slowly
stabilize if not in fact recover," said Gene McGillian,
analyst, Tradition Energy, in Stamford, Connecticut.

Oil traders were also keeping an eye on a Group of 20
summit, which begins on Thursday in Pittsburgh and is expected
to call on countries to maintain economic stimulus plans, a
move which could give a boost to riskier assets.
[ID:nLM242341]

PRICES

* On the New York Mercantile Exchange, new front-month
November crude CLX9 settled down $2.79, or 3.89 percent, at
$68.97 a barrel, trading from $68.57 to $71.81.

* In London, November Brent crude LCOX9 ended down $2.54,
or 3.6 percent, at $67.99 a barrel, trading from $67.57 to
$70.48.

* NYMEX October RBOB RBV9 settled down 7.67 cents, or
4.31 percent, at $1.7049 a gallon, trading from $1.6866, the
lowest for front-month gasoline since July 16's $1.6807, to
$1.7750.

* NYMEX October heating oil HOV9 finished 5.27 cents
lower, or 2.91 percent, at $1.7594 a gallon, trading from
$1.7462 to $1.8219.

* The November/November RBOB crack spread <0#RB-CL=R> ended
at $3.32, down from at $3.67 on Tuesday. The November/November
heating oil crack spread <0#CL-HO=R> ended at $6.23, rising
from $5.67 on Tuesday.

* The spread between the current front month and the
five-year forward crude contract CLc61 ended at $13.79, based
on the November 2014 contract settlement on Wednesday at
$82.76, down $1.59, or 1.89 percent. The spread ended Tuesday
at $12.63, based on October contracts.

TECHNICALS

NYMEX crude 10-day/20-day moving average: $71.08/$70.60

Technical support/resistance:

NYMEX crude: $71.09/$72.70

NYMEX heating oil: $1.80/$1.85

NYMEX RBOB: $1.7260/$1.85

For a full report on technicals, click on [ID:nLN526576]

MARKET NEWS

* The EIA said crude stocks rose 2.8 million barrels to
335.6 million barrels last week, against the forecast in a
Reuters poll for a 1.5 million barrel drawdown, but much larger
than the 276,000 barrel build in the API data. [EIA/S]

* Distillate stocks shot up 3.0 million barrels to 170.8
million barrels, the highest level since supply hit 175.1
million barrels in the week to Jan. 14, 1983, the EIA said.

* EIA's distillate stock build was contrary to API's report
of a 1.9 million barrel drawdown and was far larger than the
forecast for a 1.4 million barrel increase.

* Gasoline supplies soared 5.4 million barrels to 213.1
million barrels, the EIA said, bigger than the API's 3.8
million barrel increase and dwarfing the forecast for just a
400,000 barrel rise.

* Copper prices dipped, as investors fretted about signs of
faltering demand from major consumer China. [ID:nLN502482]

(Reporting by Gene Ramos and Robert Gibbons; Editing by
David Gregorio)