NYMEX-Crude up, volatile, on stock market bounce

NEW YORK, Sept 30 (Reuters) - U.S. crude oil futures rose
in volatile trading on Tuesday, jumping briefly above $100 a
barrel on a stronger stock market and hopes Washington will
pass legislation to bolster the financial sector.

A strengthening dollar may have limited crude oil futures'
rise, along with end-of-quarter cashing out and the expiration
of October refined products futures contracts, sources said.

"The market's rally since London's opening will be taken as
recognition of value in an oversold market, if these levels can
be maintained," John Kilduff, senior vice president at MF
Global, said in a note. "If it turns out to be only a temporary
respite, recent lows could be challenged rather quickly."

"The market is being pulled in two opposite directions,"
said Nauman Barakat, senior vice president at Macquarie Futures
USA. "On one hand we have very tight inventory levels; but this
is being totally over shadowed by the financial, meltdown."
PRICES

* On the New York Mercantile Exchange at 11:28 a.m. EDT
(1528 GMT), November crude CLX8 was up $1.63, or 1.69
percent, at $98.00 a barrel, trading from $93.36 to $100.02.

* London, November Brent LCOX8 rose $1.82, or 1.94
percent, to $95.80 a barrel, trading from $91.10 to $97.80.

* NYMEX October refined products futures contracts expire
on Tuesday.

* NYMEX October RBOB RBV8 rose 3.88 cents, or 1.62
percent, to $2.4358 per gallon, trading from $2.3697 to
$2.4665. November RBOB RBX8 rose 4.09 cents to $2.4024 per
gallon, trading from $2.2913 to $2.4363.

* NYMEX October heating oil HOV8 rose 7.36 cents, or 2.67
percent, to $2.8340 a gallon, trading from $2.7070 to $2.8721.
November heating oil HOX8 rose 6.50 cents to $2.8535 per
gallon, trading from $2.7295 to $2.8989.

* Using the November crude and products contracts, the
heating oil crack spread <0#CL-HO=R> stood at $21.55 a barrel
and the RBOB crack spread <0#RB-CL=R> was at $2.51.
TECHNICALS

NYMEX crude support/resistance: $90/$102

20-day moving average: $103.31

NYMEX heating oil: $2.60/$3.0610

NYMEX RBOB: $2.30/$2.7330
MARKET NEWS
* The dollar strengthened against the euro and broadly on
Tuesday on optimism that U.S. lawmakers will reach a deal on a
financial rescue plan rejected on Monday. [USD/]
* U.S. stocks rose, struggling back from Wall Street's worst
slide in more than 20 years, as investors bet Washington would
find a way to pass a rescue plan despite Monday's defeat. [.N]
* U.S. oil inventory data will be released on Wednesday. A
preliminary analyst survey Monday yielded a forecast for crude
oil supplies to have risen last week, while products supplies
were expected to have fallen. [EIA/S]
* For a list of top energy news stories, click [TOP/O]
(Reporting by Robert Gibbons; Editing by David Gregorio)