NYMEX-Crude ends lower as oil inventories rise

Wed Jul 28, 2010 5:45pm EDT

 * U.S. crude oil stocks jump 7.31 mln bbls - EIA
 * U.S. durable goods orders fall, clouding growth outlook
 * Coming Up: US jobless claims data; Thursday 8:30 a.m EDT
 NEW YORK, July 28 (Reuters) - U.S. crude oil futures fell a
second straight day on Wednesday, slipping on government oil
inventory data showing a large crude oil stocks build last week
as imports surged.
 Crude oil prices also were pressured by weak durable goods
orders data that pushed U.S. equities lower and kept concerns
about the pace of economic recovery in focus.
 FUNDAMENTALS
 * On the New York Mercantile Exchange, September crude
CLU0 fell 51 cents, or 0.66 percent, to settle at $76.99 a
barrel, trading from $75.90 to $77.74.
 * The U.S. Energy Information Administration said
commercial crude oil stocks rose 7.31 million barrels last week
as imports jumped. [EIA/] The forecast was for a build.
Gasoline and distillate stocks also rose, though not as much as
expected.
 * New orders for long-lasting U.S. manufactured goods
unexpectedly fell for a second straight month in June, posting
their largest decline since August. [ID:nN28189480]
 * It will be days, not weeks or months, before Enbridge Inc
(ENB.TO) can get a damaged crude oil pipeline in Michigan back
into service, the company said on Wednesday. [ID:nN28138573]
 MARKETS NEWS
 * U.S. stocks fell on Wednesday after weak durable goods
figures and a downbeat assessment of the economy from the Fed's
Beige Book kept the benchmark S&P 500 trapped below its 200-day
moving average. [ID:nN28218363]
 * The U.S. dollar rallied against the euro but slid against
the yen as weaker-than-expected U.S. durable goods orders added
to fears about economic recovery. [ID:nN28214830]
 UPCOMING DATA/EVENTS
 * Weekly report on new U.S. jobless claims at 8:30 a.m. EDT
(1230 GMT).
 * August NYMEX refined products contracts expire on Friday.
    SETTLE     NET    PCT      LOW    HIGH  CURRENT  DAY AGO
              CHNG   CHNG                       VOL      VOL
CLc1    76.99   -0.51  -0.7%    75.90   77.74  297,951  377,844
CLc2    77.44   -0.46  -0.6%    76.33   78.13   86,865   64,388
LCOc1   76.06   -0.07  -0.1%    74.80   76.40  151,762  167,475
RBc1   2.0634  0.0002   0.0%   2.0286  2.0669   12,737   29,851
RBc2   2.0647  0.0006   0.0%   2.0307  2.0685   41,953   55,464
HOc1   1.9964 -0.0030  -0.2%   1.9745  2.0082   11,160   31,947
HOc2   2.0260 -0.0034  -0.2%   2.0044  2.0393   40,633   48,397
            CURRENT    Jul 23   30D AVG     Jul 23  NET CHNG
CRUDE          533,227   391,771   566,531  1,238,659       176
RBOB            93,316   125,123    94,844    249,133    -4,222
HO              76,115   109,182    99,963    294,935    -4,200
TECHS    LAST   MA-30   MA-90  Boll up  Boll dn  RSI-30 Imp Vol
CLc1    76.84    76.5   77.96    80.28    71.95   48.42   31.83
RBc1   2.0598  2.0600  2.1800   2.1900   1.9700   45.25   32.61
HOc1   1.9950  2.0900  2.0800   2.2000   1.8300   46.18   32.08
 (Reporting by Robert Gibbons; Editing by Marguerita Choy)


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