NYMEX-Crude ends up, seesaws on demand woes. Iran
* Equities fall on recovery doubts, dollar down on G20
* U.S. consumer sentiment up, durable goods orders off
* U.S. accuses Iran of covert nuclear activity
NEW YORK, Sept 25 (Reuters) - U.S. crude futures ended with modest gains in seesaw trading on Friday, supported by fresh tensions over Iran's nuclear program while demand worries amid high stockpiles and a set of mixed economic data weighed on sentiment.
New orders for long-lasting U.S. manufactured goods dipped in August and sales of new homes edged up but came in below expectations, according to government data that fueled worries that recovery from recession would be tepid. [ID:nN25497919]
The reports from the Commerce Department overshadowed a rise in the consumer confidence index this month to its highest since January last year. For more see [ID:nN25390248].
U.S. President Barack Obama accused Iran of building a secret nuclear fuel plant for several years and demanded that Tehran comply with international rules on nuclear nonproliferation. [ID:nLP84413]
Accusations that a second uranium enrichment plant under construction was clandestine are "not true," a senior Iranian official told Reuters at the United Nations. [ID:nN25496604]
Iranian President Mahmoud Ahmadinejad later said in New York that the site was "not a secret." [ID:nN25511827]
"I think the risk of geopolitical supply (oil price) shock is muted somewhat by OPEC spare capacity being higher and U.S. commercial inventories being at a high level. But that being said, if you have a situation that affects the supply chain, all bets are off," said Rachel Ziemba, lead energy analyst at RGE Monitor in New York.
U.S. stocks fell due to the durable goods and homes sales data, which raised questions about the economic recovery. [.N]
Government oil inventory data this week showed crude and oil products inventories rose sharply last week. [EIA/S]
"Crude oil is currently in the $65-$75 range and traders are looking at whether prices would move below the 200-day moving average, at which point it could go to the low $60s. As it stands, we have no active hurricane season and there's a lot of oil around, with weak global demand," said Rich Ilcyzyszyn, senior market strategist at Lind-Waldock in Chicago.
PRICES
* On the New York Mercantile Exchange, November crude CLX9 settled up 13 cents, or 0.2 percent, at $66.02 a barrel, trading a high of $67.09 down to $65.05, the lowest since July 31's intraday high of $64.96.
* For the week, NYMEX front-month crude was down $6.02, or 8.36 percent.
* In London, November Brent crude LCOX9 ended up 29 cents, or 0.45 percent, at $65.11 a barrel, trading from $64.08 to $65.85.
* NYMEX October RBOB RBV9 ended down 1.61 cents, or 0.98 percent, at $1.6205 a gallon, trading from $1.6030 to $1.6477.
* NYMEX October heating oil HOV9 ended down 0.43 cent, or 0.26 percent, at $1.6771 a gallon, trading from $1.6585 to $1.7077.
* The November/November RBOB crack spread <0#RB-CL=R> ended at $2.69, sliding from $3.38 on Thursday. The November/November heating oil crack spread <0#CL-HO=R> ended at $5.65, down from $5.96 on Thursday.
* The spread between the current front month and the five-year forward crude contract CLc61 was at $14.98, based on the November 2014 contract Thursday settlement at $80.99. The spread ended Thursday at $15.10.
TECHNICALS
NYMEX crude 10-day/20-day moving average: $69.93/$69.89
Technical support/resistance:
NYMEX crude: $64.50/$68.00
NYMEX heating oil: $1.65/$1.75
NYMEX RBOB: $1.6010/$1.70
For a full report on technicals, click on [ID:nLP464089]
MARKET NEWS
* Tesoro Corp (TSO.N) said other units at its 100,000 bpd
Los Angeles refinery in Wilmington, California, were running at
reduced rates after a coker unit fire Friday
morning.[ID:nN25510333]
* Goldman Sachs (GS.N) said global oil demand was recovering more quickly than it previously estimated and raised its demand forecast. [ID:nLP428439] (Reporting by Gene Ramos and Robert Gibbons; Editing by Christian Wiessner)
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