NYMEX-Crude ends up as China demand supports
* China crude Oct imports up sharply versus year ago
* Dollar bounces after sliding to 15-month low
NEW YORK, Nov 11 (Reuters) - U.S. crude futures ended slightly higher on Wednesday, supported by data showing increased industrial activity and healthy crude imports in China while a bounce by the dollar limited oil's advance.
"Little change as the market looked for the next directional cue. Probably needs something fresh of considerable fundamental import to breach either side of current range," said Mike Fitzpatrick, vice president at MF Global in New York.
China's October crude oil imports rose 19.7 percent from a year earlier to 19.34 million tonnes, or 4.55 million barrels per day, preliminary Customs data showed. [ID:nPEK22093]
The dollar bounced off a 15-month low against major currencies in a technical rebound after selling pressure failed to push the U.S. currency through key levels. [USD/]
Also helping limit oil's upside was the inventory report from the American Petroleum Institute on Tuesday showing crude stocks rose more than forecast last week and products stocks increased unexpectedly. [API/S]
The U.S. Energy Information Administration's oil inventory report was delayed until Thursday at 11:00 a.m. EST (1600 GMT) due to Wednesday's federal Veterans Day holiday.
A Reuters analyst survey on Tuesday yielded a forecast for crude supplies to be up 600,000 barrels, with gasoline stocks unchanged and distillate stocks down 700,000 barrels. [EIA/S]
The International Energy Agency's monthly oil market report also is set to arrive on Thursday.
PRICES
* On the New York Mercantile Exchange, December crude CLZ9 rose 23 cents, or 0.29 percent, to settle at $79.28 a barrel, trading from $78.57 to $80.10.
* In London, December Brent crude LCOZ9 rose 45 cents to settle at $77.95 a barrel, trading from $77.07 to $78.62. The December Brent contract expires on Friday.
* NYMEX December RBOB RBZ9 rose 1.53 cents, or 0.77 percent, to settle at $1.9927 a gallon, trading from $1.9664 to $2.0108.
* NYMEX December heating oil HOZ9 rose 0.35 cent, or 0.17 percent, to settle at $2.0558 a gallon, trading from $2.0372 to $2.0796.
* The December/December RBOB crack spread <0#RB-CL=R> ended at $4.41, after ending at $4.00 on Tuesday. The December/December heating oil crack spread <0#CL-HO=R> ended at $7.06, after ending at $7.15 on Tuesday.
* The spread between the current front month and the five-year forward crude contract CLc61 ended at $12.96, based on the December 2014 contract Wednesday settlement at $92.24, up 80 cents on the day. The spread ended Tuesday at $12.39.
TECHNICALS
NYMEX crude 10-day/20-day moving average: $79.00/$79.18
Technical support/resistance:
NYMEX crude: $77.92/$82.00
NYMEX heating oil: $2.0090/$2.0956
NYMEX RBOB: $1.9346/$2.0202
For a full report on technicals, click on [ID:nLB182515]
MARKET NEWS
* Oil companies continued to restore Gulf of Mexico output shut by Tropical Storm Ida, the U.S. Minerals Management Service said on Wednesday. [ID:nN11377134]
* OPEC raised its 2010 demand growth forecast, said compliance with targets slipped to 60 percent in October and that demand may not return to precrisis levels. [ID:nLB201308]
* Oil product in floating storage has risen to 90.3 million barrels, according to ship brokers ICAP. ICAP anticipates 6.5 million barrels more added before end of 2009. [ID:nLB165344] (Reporting by Robert Gibbons; Editing by John Picinich)
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