NYMEX-Crude higher as global equities strengthen

* Global equities rally

* U.S. oil supply data expected to show fuel supplies up

NEW YORK, July 14 (Reuters) - U.S. crude oil futures rose on Tuesday as
global equities rallied.

"Crude and products futures advanced in heavy overnight volume as
equities in Asia and Europe rebounded after yesterday's rally in U.S.
equities," Addison Armstrong, analyst at Tradition Energy in Stamford,
Connecticut, said in a note.

A burst of confidence in U.S. financial stocks lifted global equities
and Goldman Sachs kept the mood buoyant with a strong set of earnings.
[MKTS/GLOB]

Traders will be eyeing this week's oil product inventory data expected
to show supply builds, especially distillate stocks, with heating oil crack
spreads already under pressure.

"This huge distillate surplus has contributed to a virtual 'body slam'
in the heating oil crack spreads within the past month as August
differentials have declined from almost $8 per barrel toward $3 per
barrel," Jim Ritterbusch, president at Ritterbusch & Associates, said in a
research note.

PRICES

* On the New York Mercantile Exchange at 10:07 a.m EDT (1407 GMT),
August crude CLQ9 was up $1.15, or 1.93 percent, at $60.84 a barrel,
trading from $59.79 to $61.46.

* Monday's $59.69 settlement was the lowest since crude settled at
$59.65 on May 19. Monday's $58.32 intraday low was the lowest since prices
fell to $56.12 on May 18.

* NYMEX August crude oil options expire on Thursday.

* In London, August Brent crude LCOQ9 rose $1.05, or 1.73 percent, to
$61.74 a barrel, trading from $60.92 to $62.26. The August Brent contract
expires on Thursday.

* NYMEX August RBOB RBQ9 rose 2.31 cents, or 1.41 percent, to $1.6625
a gallon, trading from $1.6446 to $1.6710.

* NYMEX August heating oil HOQ9 rose 2.72 cents, or 1.81 percent, to
$1.5310 a gallon, trading from $1.5026 to $1.5409.

* The August/August RBOB crack spread <0#RB-CL=R> was at $9.02 after
ending at $9.16 on Monday. The August/August heating oil crack spread
<0#CL-HO=R> was at $3.40, after ending at $3.46 on Monday.

* The spread between the current front month and the five-year forward
crude contract CLc61 was at $17.85, based on the August 2014 contract
Monday settlement at $78.69. The spread ended Monday at $19.00.

TECHNICALS

NYMEX crude 10-day/20-day moving average: $63.35/$66.58

Technical support/resistance:

NYMEX crude: $58.32/$60.85

NYMEX heating oil: $1.5030/$1.5520

NYMEX RBOB: $1.6050/$1.7010

For a full report on technicals, click on [ID:nLE395609]

MARKET NEWS

* U.S. retail sales rose a stronger-than-expected 0.6 percent in June.
Gasoline stations showed strong gains, helped by rising prices.
[ID:nN13376897]

* U.S. stocks opened little changed as investors paused following a
strong run-up in the previous session. [.N]

* The dollar dipped against the yen but edged up against the euro.
[ID:nN14259436]

* OPEC said world demand for the group's oil will fall in 2010. OPEC
said total world oil use would rise in 2010. OPEC trimmed its estimate for
2009 demand. [ID:nLE49961]

* U.S. crude oil inventories were expected to have fallen last week,
with refined products supplies higher, according to a Reuters analyst
survey on Monday. [EIA/S]
(Reporting by Robert Gibbons; Editing by John Picinich)