PERTH, Aug 9 (Reuters) - U.S. crude prices were little
changed and hovered just below $81 a barrel on Monday, as
traders sought direction after prices fell for three straight
days last week, in part on weaker-than-expected U.S. economic
data.
FUNDAMENTALS
* NYMEX crude for September delivery <CLc1> edged up 15
cents to $80.85 a barrel by 2313 GMT. The contract fell $1.31
or 1.6 percent to settle at $80.70 a barrel on Friday after
poor U.S. jobs data, but ended the week 2.2 percent higher.
* Tropical Storm Colin weakened to a tropical depression in
the Atlantic Ocean on Sunday as it passed west of Bermuda, the
National Hurricane Center (NHC) said, adding the system could
dissipate later in the day. []
* Workers are on strike at Curacao's 320,000 barrel-per-day
Isla refinery that is run by Venezuela's state oil company
PDVSA and has been paralyzed since March due to power problems,
union sources said on Sunday. []
* The U.S. government vowed on Sunday that operations to
completely clean up BP's <BP.L> <BP.N> Gulf of Mexico oil spill
and compensate those affected would not slacken despite the
success in halting the leak. []
MARKETS NEWS
* U.S. stock investors are turning more to options for
protection after the latest data showing the frailty of the
economic recovery, but they may find some comfort in Wall
Street's "fear gauge." []
* U.S. stocks fell on Friday after government data showed a
larger-than-expected drop in July payrolls, giving investors a
stark reminder the economic recovery remains slow. []
* The U.S. economy lost 131,000 jobs in July -- more than
twice the decline of 65,000 that economists forecast in a
Reuters poll. And the closely watched private employment number
rose less than expected. []
* The U.S. dollar approached a 15-year low against the yen
on Friday and fell against the euro after news that the United
States' economy shed twice as many jobs in July as expected
added to worries about the recovery. []
ECONOMIC CALENDAR/KEY EVENTS
JAPAN - Bank of Japan begins two-day policy meeting
- Current account balance for June []
[] <ECONJP>
- Bank lending, money stock data for July
- Corporate bankruptcies in July []
- Economy watchers' survey for July []
HONG KONG - Harbin Power Equipment Ltd <1133.HK> H1 results
- Hong Kong's foreign currency reserve assets
- Zijin Mining Group Co Ltd <2899.HK> H1 results
AUSTRALIA - Housing finance, June
- ANZ job ads
SINGAPORE - National Day holiday
KOREA - Producer price index, July
RELATED NEWS > Oil settles lower a third day on jobs slump
[] > US STOCKS-Wall St slips on jobs data;
Hewlett-Pack[] > COMMODITIES-Oil, metals drop on weak
jobs data, wh[]
PRICES
Oil prices as of 2313 GMT
Contract Mnth Price Change Day ago pct MA-20*
NYMEX Contracts
US Crude SEP0 $80.85 +0.15 -$1.31 -1.60% $78.52
Heat Oil SEP0 215.48 +0.76 -3.96 -1.81% 206.28
RBOB SEP0 211.55 +0.28 -5.17 -2.39% 210.05
Natgas SEP0 $4.465 -0.002 -$0.131 -2.85% $4.597
ICE Contracts
Brent SEP0 $80.30 +0.14 -$1.45 -1.78% $77.74
Gasoil AUG0 $675.75 -3.00 -$9.25 -1.34% $656.39
Note: U.S. heating oil and RBOB gasoline contracts listed in
cents per gallon.
* = 20-day moving average for continuation month.
(Reporting by Fayen Wong)
