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Funds News

NYMEX-Crude ends lower after volatile session

 * U.S. jobless claims rise unexpectedly, weigh on oil
 * OPEC won't meet unless oil rises above $100-delegate
 * Coming up: NYMEX Feb crude options expire on Friday
 NEW YORK, Jan 13 (Reuters) - U.S. crude prices slipped on
Thursday after a volatile session as investors wrestled with
disappointing U.S. jobs data that weighed on oil demand
prospects and offset a weak dollar.
 Traders eyed the prospects of OPEC acting to cool the
recent rally, with Brent crude futures resting over $98 a
barrel, after an OPEC delegate said the producer group would
not meet unless prices moved above $100.
 NYMEX February crude oil options and the ICE Brent February
crude contract expire on Friday, a factor cited by brokers and
analysts as contributing to Thursday's trading volatility.
 FUNDAMENTALS
 * On the New York Mercantile Exchange, February crude
CLG1 fell 46 cents, or 0.5 percent, to settle at $91.40 a
barrel, trading from $90.91 to $92.37.
 * OPEC will hold an emergency meeting only if oil climbs
above $100 a barrel and stays at that level, a Gulf delegate
said on Thursday. A second Gulf delegate said the price
strength would probably not last and customers were not asking
for extra oil. [ID:nWLA2702]
 * U.S. jobless claims jumped to their highest level since
October while food and energy costs boosted producer prices. A
surge in exports to their highest level in two years helped
narrow the trade deficit. [ID:nN13271305]
 * Gasoil stocks in Europe's storage hub of
Amsterdam-Rotterdam-Antwerp fell slightly in the week through
Thursday but stood far above normal seasonal levels, Dutch oil
analyst Pieter Kulsen said. Gasoline stocks rose.
[ID:nWLA2704]
 * Alaska's main oil pipeline will shut for 36 hours over
the weekend to install a bypass aimed at restoring oil
shipments to full volumes after the line was closed following a
leak last week. [ID:nN13278183]
 MARKETS NEWS
 * The euro posted its biggest rise against the dollar in
more than six months after solid European debt auctions and a
warning of short-term inflation risks from the head of the
European Central Bank. [USD/]
 * U.S. stocks fell, hurt by a slide in drugmaker Merck and
as falling commodities prices hit shares of natural resource
companies. [.N]
 * Copper halted a two-day rally, as prices continued to
dawdle beneath recent record peaks and investors priced in a
potential dry spell in Chinese purchases in coming weeks.
[MET/L]
 UPCOMING DATA/EVENTS
 * NYMEX February crude options expire on Friday.
 * ICE Brent February crude options expire on Friday.
 * U.S. Commodity Futures Trading Commission positions data
to be released at 3:30 p.m. EST (2030 GMT) on Friday.
    SETTLE     NET    PCT     LOW    HIGH  CURRENT  DAY AGO
              CHNG   CHNG                      VOL      VOL
CLc1    91.40   -0.46  -0.5%   90.91   92.37  316,867  382,686
CLc2    92.30   -0.57  -0.6%   91.83   93.27  189,181  225,416
LCOc1   98.06   -0.06  -0.1%   97.30   98.67   87,129  158,640
RBc1   2.4459 -0.0172  -0.7%  2.4316  2.4731   37,900   45,978
RBc2   2.4615 -0.0157  -0.6%  2.4478  2.4872   26,148   37,867
HOc1   2.6091 -0.0095  -0.4%  2.5865   2.626   40,907   48,870
HOc2   2.6131 -0.0092  -0.4%  2.5925  2.6306   30,444   31,336
TOTAL MARKET            VOLUME                 OPEN  INTEREST
          CURRENT    Jan 12   30D AVG     Jan 12  NET CHNG
CRUDE        805,668   933,343   644,165  1,516,692   -15,104
RBOB          96,947   125,509   103,574    272,903       386
HO           113,111   124,239   103,801    300,105       207
 (Reporting by Robert Gibbons and Gene Ramos; Editing by Dale
Hudson)


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