NYMEX crude falls as dollar up, more OPEC oil seen

NEW YORK, July 25 (Reuters) - U.S. crude oil futures ended lower on Friday, hitting seven-week lows as the dollar rose on upbeat economic data and as an industry consultant forecast higher OPEC oil output this month.

On the New York Mercantile Exchange, September crude CLU8 settled down $2.23, or 1.78 percent, at $123.26 a barrel, lowest since June 4's $122.30 close and wiping out a $1.05 gain on Thursday.

It traded from $122.50, which was the lowest since June 5, to $126.51. Some chartists said support held at the session low of $122.50 with the "support zone" extending to $121.75.

NYMEX crude has fallen in seven of the last 11 trading days -- since July 11, when it hit a record $147.27. At Friday's low, it has fallen $24.77, or 16.82 percent, from the record.

In London, September Brent crude LCOU8 settled down $1.92, or 1.52 percent, to $124.52 a barrel, trading from $123.39 to $127.52.

"The rise in U.S. durable goods orders (initially) pushed the dollar up and the Petrologistics estimate of OPEC output rising -- both helped pull down crude futures," said Phil Flynn, analyst at Alaron Trading.

Midday, the dollar was up against the yen but pulled back slightly against the euro, after bullish U.S. economic news.

A government report showed an unexpected rise in durable goods orders eased worries over the U.S. economy, while the weekly Reuters/University of Michigan poll showed stronger-than-expected consumer sentiment and data on U.S. new home sales in June came in higher than expected. [USD/]

Petrologistics said on Friday that OPEC's oil output is expected to rise by 200,000 barrels per day in July from June because of higher supplies from Saudi Arabia and Iraq. [ID:nL5643263]