NYMEX-Crude lower, post-settle, on big API build

NEW YORK, Sept 29 (Reuters) - U.S. crude oil futures moved
slightly lower in post-settlement trading on Tuesday after
industry data showed that crude oil inventories rose more than
expected last week.

Heating oil futures pared gains slightly as the American
Petroleum Institute reported that distillate stocks increased
much more than forecast.

Gasoline futures recouped some losses on API data showing
gasoline inventories fell rather than increased as forecast.

Earlier, crude futures settled lower on demand worries
after consumer confidence faltered last month and the dollar
firmed, prompting selling in commodity futures.

Losses were limited amid concerns surrounding Iran's
nuclear program.

The API said domestic crude stocks shot up 2.8 million
barrels in the week to Sept. 25, to 340 million barrels.
Distillate supplies, which include heating oil and diesel fuel,
jumped 2.3 million barrels to 170.7 million barrels.

Gasoline stocks fell 1.7 million barrels to 212.5 million
barrels, the API said.

A Reuters poll ahead of the data forecast that crude oil
inventories rose by 600,000 barrels, distillate supplies
increased by 1.2 million barrels and gasoline supplies gained
1.0 million barrels. [EIA/S]

The U.S. Energy Information Administration will issue its
own weekly data on Wednesday at 10:30 a.m. EDT (1430 GMT).

"The API data reflects the weak demand situation we are in.
Overall, it's good news that we have very ample petroleum
supplies heading into the winter, but it's bad news as we have
high inventories while the economy is still showing weakness,"
said Phil Flynn, analyst at PFGBest Research in Chicago.

The dollar rose against the euro and a basket of currencies
and was up against the yen after seesawing. [USD/]

U.S. stocks closed lower as a surprise drop in consumer
confidence overshadowed signs of stabilization in the housing
market. [.N] For a wrap-up on the day's economic data, click on
[ID:nN29136250]

PRICES

* On the New York Mercantile Exchange at 5 p.m. EDT (1700
GMT), November crude was down 35 cents, or 0.52 percent, at
$66.49 a barrel. It had settled down 13 cents, or 0.19 percent,
at $66.71, trading trading from $65.82 to $67.33.

* In London, November Brent crude LCOX9 was down 36
cents, or 0.55 percent, at $65.18 a barrel, after trading
$64.66 to $66. It had settled down 5 cents, or 0.08 percent, at
$65.49.

* Ahead of its expiration on Wednesday, NYMEX October RBOB
RBV9 was down 0.40 cent, or 0.24 percent, at $1.6340 a
gallon. It had settled down 0.99 cent, or 0.6 percent, at
$1.6281, trading from $1.6128 to $1.6479.

* NYMEX October heating oil HOV9, also expiring on
Wednesday, was up 0.26 cent, or 0.15 percent, at $1.6935 a
gallon. It had settled up 0.97 cent, or 0.57 percent, at
$1.7006 a gallon, trading from $1.6765 to $1.7060.

* The November/November RBOB crack spread <0#RB-CL=R> ended
at $2.22, dropping from $2.49 on Monday. The November/November
heating oil crack spread <0#CL-HO=R> ended at $5.81, rising
from $5.38 on Monday.

* The spread between the current front month and the
five-year forward crude contract CLc61 ended at $14.99,
widening from $14.75 on Monday. The November 2014 contract
settled at $81.70, up 11 cents, or 0.13 percent.

TECHNICALS

NYMEX crude 10-day/20-day moving average: $69.26/$69.40

Technical support/resistance:

NYMEX crude: $62.70/$67.12

NYMEX heating oil: $1.68/$1.76

NYMEX RBOB: $1.6090/$1.6920

For a full report on technicals, click on [ID:nLT579536]

MARKET NEWS

* U.S. retail gasoline demand rose 0.9 percent to average
9.17 million barrels per day for the week ended Sept. 25,
according to the weekly MasterCard SpendingPulse report
released on Tuesday. [ID:nNYS005448]

* The U.S. government revised down U.S. oil demand in July
to 4 percent below year-ago levels, plunging petroleum
consumption to the lowest level for the month in 13 years and
contradicting other recent government data that suggest the
economy is on the road to recovery. [ID:nN292000]

* Iran said it would refuse to discuss a newly declared
nuclear plant at forthcoming talks. [ID:nLT564493]
(Reporting by Gene Ramos and Robert Gibbons; editing by Jim
Marshall)