NYMEX-Crude steady below $80 after nearly 2 pct fall

                                
 TOKYO, March 16 (Reuters) - U.S. crude futures were steady
below $80 a barrel on Tuesday, after falling 1.8 percent to the
lowest close in two weeks a day earlier as the dollar remained
strong and ahead of U.S. industry data expected to show another
build in crude inventories.
                                
 FUNDAMENTALS
                                
 * NYMEX crude for April delivery <CLc1> was up 1 cent at
$79.81 a barrel by 0000 GMT, after settling down $1.44 at $79.80
a day earlier.
                                
 It fell as low as $79.13 on Monday, the lowest since March 2.
                                
 * OPEC may not need to adjust output policy this year if the
oil market remains stable, Saudi Arabia's oil minister told
reporters on Monday. [nLDE62E2GM]
                                
 "Why should we change?" he said ahead of the group's
Wednesday meeting. "The market is in balance, the price is great,
inventories are coming down so why should we do anything?"
                                
 * U.S. domestic crude stockpiles likely rose by 900,000
barrels last week, marking the seventh straight build, a
preliminary Reuters poll ahead of weekly industry and government
inventory reports showed on Monday.
                                
 Distillate and gasoline stocks fell, the poll showed. [EIA/S]
                                
 * The U.S. Federal Reserve is expected to hold benchmark
rates near zero on Tuesday and reiterate its pledge to keep them
low for an "extended period" due to the weak U.S. jobs market and
nagging doubts about the economic rebound. [ID:nN2434770]
                                
 MARKETS NEWS
                                
 * U.S. stocks were little changed on Monday as a late rebound
in financial stocks offset nagging worries the Chinese government
may tighten credit, a move that could slow growth in the global
economy.
                                
 * The dollar retained gains on Tuesday ahead of a meeting of
the U.S. Federal Reserve later in the day while the euro stayed
under pressure despite a rescue mechanism put in place for Greece
by euro zone ministers. [USD/]
                                
 DATA/EVENTS
                                
 * The following data is expected on Tuesday:
                                
 - April ICE Brent Crude Futures Contract Expires
                                
 - 0745 GMT--France CPI Final/Feb
                                
 - 1000 GMT--Germany ZEW Economic Sentiment/Mar
                                
 - 1000 GMT--Euro Zone Inflation/Feb
                                
 - 1145 GMT--US ICSC Chain Stores/Wkly
                                
 - 1230 GMT--US Export, Import Prices/Feb
                                
 - 1230 GMT--US Housing Starts/Feb
                                
 - 1255 GMT--US Redbook/Wkly
                                
 - 1815 GMT--US FOMC Rate Decision
                                
 - 2030 GMT--US American Petroleum Institute Oil Report/wkly
                                
 RELATED NEWS
> Exxon reports flaring at California refinery [nN15222238]
> Suncor Alberta refinery has partial shutdown [nN15214211]
                                
 PRICES
 Oil prices as of 0000 GMT          
 Contract Mnth    Price  Change  Day ago     pct     MA-20*
 NYMEX Contracts
 US Crude APR0   $79.81   +0.01   -$1.44  -1.77%     $79.98
 Heat Oil APR0   206.15   +0.39    -3.64  -1.74%     206.03
 RBOB     APR0   222.30   +0.02    -3.22  -1.43%     216.18
 Natgas   APR0   $4.382  -0.009  -$0.009  -0.20%     $4.756
 ICE Contracts
 Brent    APR0       --   +0.00   -$1.50  -1.89%     $78.08
 Gasoil   APR0       --   +0.00  -$16.50  -2.48%    $635.33
 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 Chris Gallagher)