NYMEX-Crude up in choppy trade as dollar supports

NEW YORK, Nov 30 (Reuters) - U.S. crude oil futures edged
up on Monday, lifted by the weak dollar, but with trading
volatile as uncertainty about the Dubai debt situation kept
traders cautious.

The NYMEX December products contract expiration on tap on
Monday also added to the choppy trading, sources said.

The dollar fell after the United Arab Emirates said it
would stand behind banks in Dubai, soothing some concerns about
a looming debt default. [USD/]

But investor confidence was fragile and the dollar briefly
trimmed losses after a Dubai official said the Dubai government
does not guarantee Dubai World debt. [ID:nGEE5AT12X]

"The dollar had a little rebound from its lows. There is
still uncertainty on how the Dubai situation will play out and,
with little weather and unemployment not helping product
demand, the market was testing the $75 support area. Having
said that, it did hold there above $75," said Phil Flynn,
analyst at PFGBest Research in Chicago.

PRICES

* On the New York Mercantile Exchange at 10:20 a.m. EST
(1520 GMT), January crude CLF0 was up 36 cents, or 0.47
percent, at $76.41 a barrel, trading from $75.13 to $76.85.

* In London, January Brent crude LCOF0 rose 33 cents, or
0.43 percent, to $77.51 a barrel, trading from $76.40 to
$77.95.

* NYMEX December products contracts expire on Monday.

* NYMEX December RBOB RBZ9 rose 3.78 cents, or 1.96
percent to $1.9640 a gallon, trading from $1.9250 to $1.9680.

* NYMEX January RBOB RBF0 rose 3.53 cents, 1.81 percent,
at $1.9901 a gallon, trading $1.9505 to $1.9960.

* NYMEX December heating oil HOZ9 rose 1.48 cents, or
0.75 percent, to $1.9770 a gallon, trading from $1.9448 to
$1.9848.

* NYMEX January heating oil HOF0 rose 1.42 cents, 0.71
percent, at $2.0238 a gallon, trading $1.9917 to $2.0353.

* The January/January RBOB crack spread <0#RB-CL=R> was at
$7.21, after ending at $6.05 on Friday. The January/January
heating oil crack spread <0#CL-HO=R> was at $8.58, after ending
at $8.35 on Friday.

* The spread between the current front month and the
five-year forward crude contract CLc61 was at $16.28, based
on the January 2015 contract Friday settlement at $92.69. The
spread ended Friday at $16.64.

TECHNICALS

NYMEX crude 10-day/20-day moving average: $77.55/$78.09

Technical support/resistance:

NYMEX crude: $75.00/$76.75

NYMEX heating oil: $1.95/$1.99

NYMEX RBOB: $1.90/$1.95

For a full report on technicals, click on [ID:nGEE5AT1EF]

MARKET NEWS

* Seaborne crude supplies via Russian oil pipeline monopoly
Transneft's export terminals in December will rise 3.2 percent,
or by 86,400 barrels per day, from November, a final export
schedule showed on Monday. [ID:nGEE5AT1TI]

* Somali pirates have seized a Greek-flagged oil tanker
near the Seychelles, more than 700 miles off the coast of
Somalia, Greece's coastguard said. [ID:nGEE5AT10U]

* OPEC is unlikely to cut output at its Dec. 22 meeting,
Seifollah Jashnsaz, managing director of the National Iranian
Oil Co, told reporters on Monday. [ID:nDEL002383]

* Russia will take part as an observer in OPEC's Dec. 22
meeting in Angola, a spokesman for Angola's oil minister said
on Monday. [ID:nGEE5AT0HC]

* An Iranian senior official said Iran sees little point in
staying in the Non-Proliferation Treaty. [ID:nGEE5AT1DI]
(Reporting by Robert Gibbons; Editing by Walter Bagley)
((robert.gibbons@thomsonreuters.com; + 1 646 223 6059; Reuters
Messaging: robert.gibbons.reuters.com@reuters.net))