NYMEX-Crude jumps, ends at 5-wk high on dollar, eyes data
* POLL: U.S. crude stocks seen down 3.1 mln bbls
* Dollar falls, improves commodities risk sentiment
* Coming up: API oil data 4:30 p.m. EDT, Tuesday
NEW YORK, Sept 13 (Reuters) - U.S. crude oil futures rose on Tuesday, ending at the highest level in five weeks as the dollar weakened and forecasters called for weekly data to show a drawdown in crude stocks.
Traders shrugged off a lower oil demand growth forecast from the Paris-based International Energy Agency.
Ahead of weekly inventory reports, a Reuters poll of analysts forecast that domestic crude stocks fell 3.1 million barrels in the week to Sept. 9. [EIA/S]
Analysts traced the drawdown to production disruptions in the Gulf of Mexico, source of about a third of U.S. crude oil output, due to Tropical Storm Lee.
Gasoline stocks were forecast down 500,000 barrels and distillate stocks, which include heating oil and diesel fuel, were projected up 700,000 barrels.
Refinery utilization was forecast down 0.8 percentage point.
FUNDAMENTALS
* On the New York Mercantile Exchange, crude for October delivery CLV1 settled at $90.21 a barrel, gaining $2.02, or 2.29 percent, after trading between $87.81 and $90.52. It was the highest settlement for front-month crude since Aug. 3, when prices closed at $91.93 CLc1.
* In London, ICE Brent for October delivery LCOV1 settled at $111.89 a barrel, dropping 36 cents, or 0.32 percent.
* Brent's premium against U.S. crude narrowed to $21.68 at the close from $24.06 on Monday. CL-LCO1=R The premium hit a record $27.23 on Sept. 6.
* The IEA, in a monthly report, cut its estimate of global oil demand growth this year by 160,000 barrels per day to 1.04 million bpd and trimmed its 2012 demand growth estimate by 190,000 bpd to 1.42 million bpd. [ID:nL5E7KD10U]
* Syncrude Canada Ltd has started planned maintenance on a major processing unit that will cut output by about 30 percent, or about 100,000 bpd of synthetic crude, with the outage expected to last 40-45 days, Syncrude's biggest stakeholder said. [ID:nS1E78C11I]
* U.S. retail gasoline sales last week, including the last two days of the Labor Day weekend, fell 3.5 percent from a year ago and demand was seen 2.4 percent lower than the previous week, MasterCard's weekly report showed. [ID:nEGE7DB02O]
* Mastercard said high pump prices slashed U.S. gasoline consumption and forced cost-conscious motorists off the road this summer, making this drdiving season the worst for gasoline demand since 2009.[ID:nS1E78C12H]
MARKETS NEWS
* Wall Street gained as investors beaten down shares, betting European leaders would do something soon to resolve the Greek debt crisis. [.N]
* The euro edged higher from a seven-month trough against the dollar, helped by a rebound in equity prices. In late trading the greenback was down 0.69 percent against a basket of currencies. [USD/] .DXY
* Copper eked out a modest gain, underpinned by weakness in the dollar but limited in its upside mobility by Europe's festering debt crisis. [MET/L]
* Gold rose nearly 1 percent as higher equity markets and a rebound in the euro reversed some of the previous session's sharp drop driven by margin-call selling. [GOL/]
UPCOMING DATA/EVENTS
* U.S. producer prices, retail sales for August, 8:30 a.m. EDT (1230 GMT), Wednesday.
* U.S. Energy Information Administration weekly oil inventory data at 10:30 a.m. EDT (1430 GMT), Wednesday.
SETTLE NET PCT LOW HIGH CURRENT DAY AGO
CHNG CHNG VOL VOL CLc1 90.21 2.02 2.3% 87.81 90.52 328,897 349,238 CLc2 90.28 1.97 2.2% 87.94 90.60 136,794 101,915 LCOc1 111.89 -0.36 -0.3% 111.28 113.30 128,889 159,203 RBc1 2.7424 0.0042 0.2% 2.7182 2.7645 36,369 64,154 RBc2 2.7162 0.0048 0.2% 2.6946 2.7359 32,836 43,787 HOc1 2.9361 -0.0114 -0.4% 2.9234 2.9654 54,569 58,856 HOc2 2.9465 -0.0104 -0.4% 2.9336 2.9750 28,756 20,946 TOTAL MARKET VOLUME OPEN INTEREST
CURRENT Sep 09 30D AVG Sep 09 NET CHNG CRUDE 728,880 677,483 718,849 1,491,790 -10,565 RBOB 101,123 156,717 122,732 268,736 -1,888 HO 134,806 121,952 121,924 316,848 2,742 (Reporting by Gene Ramos and Robert Gibbons; Editing by David Gregorio)
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