(Corrects to add dropped word "day" in paragraph 1)
TOKYO, Nov 6 (Reuters) - U.S. crude futures stayed below $80
a barrel on Friday after falling 1 percent the previous day as
high fuel inventories in the United States raised worries about a
recovery in oil demand.
FUNDAMENTALS
* NYMEX crude for December delivery CLc1 was up 16 cents at
$79.78 a barrel by 0001 GMT, after settling down 78 cents at
$79.62 on Thursday.
* Thursday's losses came despite a rally on Wall Street, as
the oil market focused on ballooning product stocks.
U.S. distillate stocks -- often taken as a more faithful
snapshot of demand than crude oil -- fell 400,000 barrels last
week, government data showed on Wednesday, compared with analyst
expectations for a 1 million-barrel decline.
They remain near 26-year highs and analysts said this would
cap price rises in the event of a cold winter.
* The number of U.S. workers filing new claims for jobless
insurance fell more than expected last week to a 10-month low,
the Labor Department said, with continuing claims dropping to the
lowest since March. [ID:nN05106320]
MARKETS NEWS
* U.S. stocks jumped on Thursday, pushing the S&P 500 up for
a fourth day, as economic data boosted confidence in the recovery
and strong results from Cisco Systems (CSCO.O) suggested a
rebound in technology spending. [.N]
* The dollar edged up against major currencies on Thursday,
recovering some recent losses, as investors booked profits before
a U.S. employment report expected to shed more light on the
health of the economy. [USD/]
DATA/EVENTS
* The following data is expected on Friday:
- 0930 GMT--U.K. PPI Core Output/Oct
- 1330 GMT--U.S. Non-farm payrolls/unemployment/Oct.
- 1440 GMT--U.S. ECRI inflation index/Oct.
- 1500 GMT--U.S. Wholesale inventories/Sept.
- 1530 GMT--ECRI economic index/Weekly
RELATED NEWS
> Sunoco refinery seen in full mothball mode [nN05145561]
> Sunoco's NJ refinery stopped production [nN05145049]
> Mexico Coatzacoalcos oil port closed again [nN05147897]
PRICES
Oil prices as of 0001 GMT
Contract Mnth Price Change Day ago pct MA-20*
NYMEX Contracts
US Crude DEC9 $79.78 +0.16 -$0.78 -0.97% $78.13
Heat Oil DEC9 205.95 +0.19 -3.26 -1.56% 202.12
RBOB DEC9 198.90 +0.13 -2.50 -1.24% 196.71
Natgas DEC9 $4.813 +0.031 +$0.057 +1.21% $4.774
ICE Contracts
Brent DEC9 -- +0.00 -$0.90 -1.14% $75.95
Gasoil NOV9 -- +0.00 -$1.25 -0.20% $621.85
Note: U.S. heating oil and RBOB gasoline contracts listed in
cents per gallon.
* = 20-day moving average for continuation month.
(Reporting by Osamu Tsukimori; Editing by Chris Gallagher)
