* Chinese trade data supports commodities
* Mideast tension remains concern after Mubarak ouster
* Coming Up: China inflation data on Tuesday
(Updates prices)
By Alex Lawler
LONDON, Feb 14 (Reuters) - Brent crude oil rose to around
$102 a barrel on Monday, supported by Chinese trade data showing
rising crude imports in the world's second-largest consumer and
by concerns about continued unrest in the Middle East.
Investors kept an eye on Egypt's political transition
following the ouster of President Hosni Mubarak and on its
potential spillover effects in the Middle East and North Africa,
together the source of more than a third of the world's oil.
"We're staying up because of the continued risk of further
unrest in the Middle East," said Christopher Bellew, a broker at
Bache Commodities in London, adding the Chinese data was also
supportive.
Brent crude <LCOc1>, the benchmark in Europe, Africa and the
Middle East, for April delivery was up $1.36 to $102.30 at 1348
GMT. The events in Egypt helped push Brent above $100 at the end
of last month for the first time since 2008.
U.S. crude, also known as West Texas Intermediate or WTI,
for March <CLc1> was down 9 cents to $85.49. It fell as low as
$85.10 on Friday, the lowest intraday price in 10 weeks.
The premium of Brent to U.S. crude <CL-LCO1=R> reached a
record $16.24 on Friday, the last day of trading for the March
Brent contract. The spread between the April contracts
<CL-LCO2=R> was around $12 on Monday.
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Graphic on Brent/U.S. crude: http://r.reuters.com/zad97r
Analysis on Brent: []
Technical view on U.S. crude: []
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U.S. crude has been weighed down by near-record inventories
at the Cushing, Oklahoma delivery point, while a steady fall in
North Sea supplies -- the physical basis for the Brent contract
- has supported the European marker.
"WTI was anchored by record crude supplies in Cushing, while
tightness in the North Sea market provided support to Brent
prices," Mark Pervan, head of commodity research at ANZ Bank,
said in a report.
CHINESE IMPORTS
China's trade surplus fell to its lowest in nine months in
January. Crude oil imports rose 27 percent from a year ago to
the fourth highest on record. [] []
"Support is coming today from China's import data," said
analysts at Commerzbank in a report.
"There is still a risk that the wave of protests could
spread to other countries of the region, so the risk premium on
oil prices should remain, at least in part," they said.
In Egypt, hundreds of police in uniform and plainclothes
marched in Cairo's Tahrir Square on Monday to show solidarity
with protesters who toppled Mubarak. []
And in Iran, hundreds marched toward a Tehran square on
Monday in a banned rally supporting popular uprisings in Egypt
and Tunisia, but their way was blocked by police and security
forces, witnesses said. []
Key data for investors this week include Chinese January
inflation figures for release on Tuesday. Traders said consumer
prices may have risen 4.9 percent in the year to January, below
the consensus forecast of 5.3 percent. []
European shares rose to a 29-month high as the talk of
slower-than-expected Chinese inflation data and the strong China
trade figures boosted sentiment. []
The euro fell to a three-week low versus the dollar on
Monday. <.DXY>.
(Additional reporting by Jennifer Tan in Singapore; editing by
James Jukwey and Jane Baird)
