NYMEX-Crude ends up in late reversal as equities gain

* Equities shift higher late, lifts crude futures

* Euro weaker, dollar stronger, limiting crude gain

* Coming up: CFTC trader commitments report on Friday

NEW YORK, April 22 (Reuters) - U.S. crude oil futures
reversed course in late trading and ended higher on Thursday, as
U.S. equities regained composure also late in the day as higher
quarterly earnings reinforced optimism about the economic
recovery.

Prices were down most of the day on concerns about Greece's
fiscal problems, which had sparked flight from commodities and
equities to safer havens such as the dollar.

The late recovery in the energy markets followed losses on
Wednesday arising from a government inventory report showing
crude stockpiles rose last week, defying forecasts for a slight
drop. [EIA/S]

"The Dow is up nicely from early lows and crude futures are
following that...the dollar is also off its early highs," said
Tom Knight, trader at Truman Arnold in Texarkana, Texas.

On Wall Street, the Nasdaq edged higher as another stream of
strong earnings from companies overshadowed worries about
Greece's ability to solve its debt problems. [.N]

"After oil and the stock market got pushed down by the
Greece situation, equities rallied from the lows and anyone that
was short would be covering," said Richard Ilczyszyn, senior
market strategist at Lind-Waldock in Chicago."

The euro fell to a near one-year low against the U.S. dollar
after the European Union said Greece's budget deficit was worse
than feared and ratings agency Moody's cut its rating of Greek
government debt. [USD/]

At the close, the premium of July crude over front-month
June crude CL-1=R was at $1.94, after earlier hitting more
than $2, the widest since December.

Bulging inventories, especially at the Cushing, Oklahoma,
delivery point for NYMEX-traded crude, and tepid demand, was
causing front-month crude to weaken, market sources said.

Heating oil retained some gains at the close while gasoline
recovered to end with the highest percentage gain for the day
among NYMEX energy futures.

Heating oil showed unseasonal strength as cash prices in New
York Harbor rose, as a steep contango in heating oil benchmark
futures encouraged demand to put barrels into storage for sale
at higher prices in the future, traders said. [PRO/U]

PRICES

On the New York Mercantile Exchange, crude for June delivery
CLMO ended up 2 cents, or 0.02 percent, at $83.70 a barrel,
recovering from a session low of $81.73. The day's top hit
$84.07.

* In London on the Intercontinental Exchange, June Brent
crude LCOM0 ended down 3 cents, or 0.04 percent, at $85.67 a
barrel, trading from $84.15 to $86.30.

* NYMEX May RBOB RBK0 closed up 1.75 cents, or 0.77
percent, at $2.3002 a gallon, trading from $2.2410 to $2.3040.

* NYMEX May heating oil HOK0 ended up 0.92 cent, or 0.42
percent, at $2.2150 a gallon, trading from $2.1748 to $2.2270

* The June/June heating oil crack spread <0#CL-HO=R> ended
at $10.37, widening from just $9.97 on Wednesday. The June/June
RBOB crack spread <0#RB-CL=R> ended at $13.33, up from $12.75 on
Wednesday.

* The spread between the current front month and the
five-year forward crude contract CLc61 ended at $10.23,
narrowing from $10.52 on Wednesday. The June 2015 contract
settled on Thursday at $93.93, down 19 cents, or 0.2 percent.

TECHNICALS

NYMEX crude 10-day/20-day moving average: $84.02/$83.93

Technical support/resistance:

NYMEX crude: $82.05/$85.10

NYMEX heating oil: $2.18/$2.25

NYMEX RBOB: $2.20/$2.3695

For a full report on technicals, click on [ID:nLDE63L15G]

MARKET NEWS

* President Barack Obama appealed specifically to America's
"titans of industry" on Thursday to get behind his push for
financial regulatory reform instead of trying to undercut the
effort. [ID:nWAT01433]

* The number of U.S. workers filing new unemployment
insurance claims fell as expected last week, government data
showed on Thursday. [ID:nN21214411]

* U.S. producer prices rose more than expected in March on
strong consumer food and gasoline costs. [ID:nN21211438]
(Reporting by Gene Ramos and Robert Gibbons; Editing by
Marguerita Choy)