NYMEX-Crude steady after closing at 25-month high

                                
 TOKYO, Nov 11 (Reuters) - U.S. crude futures were steady on
Thursday after closing at a 25-month high a day earlier, getting
support from U.S. government data showing an unexpectedly heavy
drawdown in crude and product inventories last week.
                                
 FUNDAMENTALS
                                
 * NYMEX crude for December delivery <CLc1> was up 5 cents at
$87.86 a barrel by 0019 GMT, after settling up $1.09 at $87.81 a
day earlier, the highest close since Oct. 8, 2008.
                                
 * The U.S. Energy Information Administration reported a 3.3
million-barrel drawdown last week, compared with forecasts for a
1.4 million-barrel build.
                                
 Distillate stockpiles fell 5.0 million barrels, far more than
the expected drawdown of 1.9 million barrels. Gasoline stocks
fell 1.9 million barrels, much more than the expected drop of
800,000 barrels.
                                
 * Oil has broken out of this year's $70-$85 range, supported
by the Federal Reserve's massive Treasury bond buying plan to
speed economic growth.
                                
 Some members of oil producer cartel OPEC have said they will
support a higher price range.
                                
 * Wednesday's data showing an unexpected fall in U.S. jobless
claim benefits added some relief to the still-weak labour market.
[ID:nN10164638]
                                
 MARKETS NEWS
                                
 * U.S. stocks advanced on Wednesday as investors put the
previous day's uncertainty aside and snapped up some of the
week's biggest losers in renewed optimism the rally remains
intact. [.N]
                                
 The Standard & Poor's 500 Index <.SPX> gained 5.31 points or
0.44 percent to 1,218.71.
                                
 * The dollar lost a bit of its allure in Asia on Thursday
after four straight days of gains, but sterling looked set to
rise further as investors cut bets the Bank of England will
inject more stimulus into the economy. [USD/]
                                
 DATA/EVENTS
                                
 * The following data is expected on Thursday:
                                
 - 2330 Japan   Reuters Tankan DI         Nov    <JPRTAN=ECI>
                                
 - 0200 China   Industrial output yy      Oct      <CNIO=ECI>
                                
 - 0200 China   Retail Sales yy           Oct     <CNRSL=ECI>
                                
 - 0200 China   Consumer Price Index yy   Oct     <CNCPI=ECI>
                                
 - 0200 China   Producer Price Index yy   Oct     <CNPPI=ECI>
                                
 - 0200 China   Urban investment yy       Oct    <CNUFAI=ECI>
                                
 - 1035 OPEC    OPEC monthly report       Nov        [OPEC/M]
                                
 - U.S.    Federal holiday, bond market closed, stocks open
                                
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 PRICES
 Oil prices as of 0019 GMT          
 Contract Mnth    Price  Change  Day ago     pct     MA-20*
 NYMEX Contracts
 US Crude DEC0   $87.86   +0.05   +$1.09  +1.26%     $83.38
 Heat Oil DEC0   244.30   +0.11    +3.52  +1.46%     229.06
 RBOB     DEC0   223.39   -0.23    +5.12  +2.34%     212.08
 Natgas   DEC0   $4.066  +0.020  -$0.164  -3.90%     $3.697
 ICE Contracts
 Brent    DEC0       --   +0.00   +$0.63  +0.71%     $84.81
 Gasoil   NOV0       --   +0.00   +$6.25  +0.84%    $717.63
 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 Michael Watson)