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REFILE-NYMEX-Crude firm on API data, reduced fears on euro zone
April 25, 2012 / 12:15 AM / 6 years ago

REFILE-NYMEX-Crude firm on API data, reduced fears on euro zone

(Refiles to fix headline)	
    SINGAPORE, April 25 (Reuters) - U.S. crude prices were higher on Wednesday, trading slightly
below $104 a barrel, after industry data showing an unexpected draw on crude stocks and solid
demand at European bond auctions allayed immediate fears about the euro zone's prospects hurting
    * NYMEX crude for June, was 19 cents higher at $103.66 a barrel by 2345 GMT. On
Tuesday, NYMEX crude for June delivery settled at $103.55 a barrel, gaining 44 cents, or
0.43 percent, after trading between $102.79 to $104.10. 	
    * In London, ICE Brent crude for June delivery settled at $118.16, falling 55 cents,
or 0.46 percent, after trading between $117.85 and $118.94.	
    * The American Petroleum Institute said that for the week to April 20 domestic crude stocks
fell 985,000 barrels, against a forecast for a 2.7 million barrel build in the poll. {API/S] 	
     * U.S. gasoline demand fell last week as prices held higher than levels seen a year ago,
MasterCard said in its weekly Spending Pulse report on Tuesday. Gasoline demand fell 6.1 percent
from a year earlier as a gallon of the fuel at the pump cost 1.3 percent more than it did last
year, MasterCard data showed.	
    * Indian shipping firms will continue to transport Iranian crude even if limited insurance
coverage due to tightening Western sanctions leaves them financially exposed to a spill or
accident, a top executive and industry sources said. 	
    * Sudanese oil workers took stock of damage to the economically vital Heglig oilfield on
Tuesday after recent fighting with South Sudan left a power station in ruins, a warehouse gutted
and a pipeline spilling out acrid crude.	
     * Iran is experiencing "huge problems" exporting oil but there is unlikely to be a sharp
drop in volumes after the European Union oil embargo comes into effect from July 1, said
Torbjorn Tornqvist, chief executive of oil trading firm Gunvor. 	
     * Policymakers of the U.S. Federal Reserve began a two-day meeting. Despite lingering
anxiety about the euro zone debt crisis and another U.S. growth slowdown, analysts are not
expecting the Fed will signal it will soon embark on a third round of bond purchases, usually
called QE3, at the conclusion of the meeting on Tuesday.  	
     * U.S. stocks rose, with the Dow industrials average and the Standard & Poor's 500
Index gaining after strong earnings and improved outlooks from big manufacturers. 	
     * Copper rose more than 1 percent, after incurring steep losses on Monday, as upbeat U.S.
housing data increased risk appetite and firm demand at European bond auctions allayed fears
about the euro zone's economic prospects.  	
     * Gold was higher on the back of gains in equities and industrial metals, but the price
moves were capped ahead of a U.S. option expiration and on uncertainty over a policy meeting of
the U.S. Fed. 	
    * The following events are expected this week	
    1430   U.S. Energy Information Administration's weekly stocks report	
    1630   U.S. Fed releases statement on interest rate policy	
    1800   U.S. Fed releases economy and interest rate projections, 	
    1815   Fed Chairman Ben Bernanke holds news conference	
 (Reporting by Luke Pachymuthu; Editing by Ed Davies)

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