NYMEX-Crude slips back after big gain, Wall St hurts

                                
 TOKYO, June 10 (Reuters) - U.S. crude futures gave ground on
Thursday after climbing 3 percent a day earlier, hurt after Wall
Street closed lower on falls in BP <BP.L> and other energy shares
as the U.S. probe of the oil in the Gulf of Mexico intensified.
                                
 FUNDAMENTALS
                                
 * NYMEX crude for July delivery <CLc1> was down 27 cents at
$74.11 a barrel by 0002 GMT, after settling up $2.39 at $74.38 a
day earlier.
                                
 Wednesday's gains came after sources said Chinese exports in
May grew about 50 percent from a year earlier, easing concerns
over the pace of growth in the world's No.2 oil consumer and
after data showed a drawdown in U.S. crude inventories.
                                
 * The U.S. Energy Information Administration said domestic
crude stocks fell 1.8 million barrels last week, steeper than the
900,000 barrel decline forecast in a Reuters poll but much
smaller than the American Petroleum Institute's report late
Tuesday of a 4.5 million barrel drawdown. [EIA/S]
                                
 Gasoline stockpiles didn't budge from the previous week's
level, while distillate stocks rose 1.8 million barrels, much
more than forecast.
                                
 * The Organization of the Petroleum Exporting Countries
revised down its 2010 global oil demand forecast by 10,000
barrels per day to 940,000 bpd. [ID:nLDE6581H8]
                                
 The Paris-based International Energy Agency will issue its
forecast later in the day.
                                
 * BP said in its annual Statistical Review of World Energy,
released on Wednesday, that world oil demand fell 1.2 million
barrels per day in 2009, the second consecutive annual decline
and the largest drop in volume since 1982. [ID:nLDE6580LB]
                                
 MARKETS NEWS
                                
 * The euro edged higher versus the dollar on Wednesday,
boosted by options-related demand and renewed market hopes that
Europe's debt crisis may not put the brakes on global growth.
[USD/]
                                
 DATA/EVENTS
                                
 * The following data is expected on Thursday:
                                
 - 0500 GMT--Japan Consumer confid. index/May
                                
 - 0900 GMT--Italy GDP Final/Q1
                                
 - 1100 GMT--BoE rate decision
                                
 - 1145 GMT--ECB rate decision
                                
 - 1230 GMT--US Jobless claims/wkly
                                
 RELATED NEWS
> Exxon warns of L.A. refinery flaring -filing [nWEN5705]
                                
 PRICES
 Oil prices as of 0002 GMT          
 Contract Mnth    Price  Change  Day ago     pct     MA-20*
 NYMEX Contracts
 US Crude JUL0   $74.11   -0.27   +$2.39  +3.32%     $71.87
 Heat Oil JUL0   199.85   -1.11    +4.43  +2.25%     198.15
 RBOB     JUL0   202.64   -1.33    +5.06  +2.54%     203.01
 Natgas   JUL0   $4.675  -0.002  -$0.131  -2.72%     $4.370
 ICE Contracts
 Brent    JUL0       --   +0.00   +$1.97  +2.72%     $73.62
 Gasoil   JUN0       --   +0.00  +$14.75  +2.36%    $629.51
 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 Edwina Gibbs)