NYMEX-Crude falls on China data, dollar bounce
* Weak China manufacturing gauge weighs on oil prices
* Dollar bounce, stronger index .DXY curbs oil prices
* Coming up: CFTC positions data at 3:30 p.m. EDT Friday
NEW YORK, July 1 (Reuters) - U.S. crude futures fell on Friday as disappointing economic data from China and a bounce in the dollar pressured oil.
China's factory sector grew at its slowest pace in 28 months in June as new orders expanded less quickly as weaker global demand and tight monetary policy at home pinched production. [ID:nL3E7I104E]
The official purchasing managers' index fell to 50.9 in June, below expectations for a reading of 51.3 and down from 52 in May, the China Federation of Logistics and Purchasing said. The 50-point level demarcates expansion from contractions.
The dollar index .DXY strengthened even though the euro earlier hit a three-week high against the dollar before easing.
Also limiting crude prices was the prospect of oil soon hitting the market as the International Energy Agency gears up its planned release of reserves.
* On the New York Mercantile Exchange, August crude CLQ1 fell $1.13, or 1.2 percent, to $94.29 a barrel by 9:19 a.m. EDT (1319 GMT), trading from $93.89 to $95.14.
* National Iranian Oil Co (NIOC) has said it will cut supplies for Indian clients in August if the two countries have still not found a way to make payments for the oil, three industry sources said. [ID:nL3E7I11K8]
* Top exporter Saudi Arabia is unlikely to cut crude prices deeply enough in August to persuade Asian refiners to buy much more oil, a Reuters poll showed. [ID:nL3E7HU1G3]
* The oil market will not be affected long term by the International Energy Agency's release of strategic oil reserves, Ecuador's oil minister said. [ID:nN1E75T2BQ]
* U.S. stocks were poised to record their best week in nearly a year as index futures ticked higher and investors looked ahead to key national manufacturing data, with confidence growing that the economic slowdown could be temporary.
* Gold fell to six-week lows below $1,490 an ounce, hurt by a drop in oil prices, gains in the dollar and Greece's approval of an austerity package, which cut the metal's appeal as a haven from risk. [GOL/]
* Corn prices plummeted to 3-1/2 month lows on Friday on a report from the U.S. government which said stocks and sowing areas were both larger than market expectations. [ID:nL6E7I11GX]
* U.S. construction spending for May. 10 a.m. EDT (1400 GMT).
* Commodities Futures Trading Commission positions data at 3:30 p.m. EDT (1930 GMT) on Friday. 9:19 LAST NET PCT LOW HIGH CURRENT DAY AGO
CHNG CHNG VOL VOL CLc1 94.29 -1.13 -1.2% 93.89 95.14 56,323 348,790 CLc2 94.83 -1.13 -1.2% 94.46 95.63 10,633 81,722 LCOc1 110.37 -2.11 -1.9% 110.05 112.48 71,992 193,585 RBc1 2.9272 -0.0420 -1.4% 2.9131 2.9700 6,182 18,984 RBc2 2.8829 -0.0465 -1.6% 2.8717 2.9295 3,737 52,746 HOc1 2.8983 -0.0475 -1.6% 2.8883 2.943 5,458 23,931 HOc2 2.9121 -0.0495 -1.7% 2.9048 2.9560 1,703 58,645 (Reporting by Robert Gibbons; editing by Jim Marshall)
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