NYMEX-Crude stays close to $79 on stock rise, dollar fall

                                
 TOKYO, Nov 11 (Reuters) - U.S. crude futures hovered around
$79 a barrel on Wednesday, steadying after dipping the previous
day, as news of builds in U.S. crude and distillate stockpiles
was balanced out by a sliding dollar.
                                
 FUNDAMENTALS
                                
 * NYMEX crude for December delivery <CLc1> was up 5 cents at
$79.10 a barrel by 0017 GMT, after settling down 38 cents on
Tuesday, when the dollar firmed and the threat from tropical
weather in the Gulf of Mexico faded. [ID:nSP476555]
                                
 * The American Petroleum Institute, an industry group,
released weekly inventory data late on Tuesday showing crude
stocks rose 1.2 million barrels last week, higher than analyst
projections for a 600,000-barrel build, as imports rebounded.
[API/S] [EIA/S]
                                
 Inventories of distillates, which include heating oil and
diesel, posted a surprise gain of 640,000 barrels. That compared
with analysts' forecasts that they have fallen 700,000 barrels
due to colder weather in the northeastern United States.
                                
 * Companies began restoring Gulf of Mexico operations after
Tropical Storm Ida went ashore and was downgraded to a tropical
depression. But the U.S. Minerals Management Service said more
than 43 percent of oil output and nearly 28 percent of natural
gas output remained shut late on Tuesday. [ID:nN10528777]
                                
 For a FACTBOX on Tropical Storm Ida's impact on energy
operations click on [ID:nN10308574].
                                
 MARKETS NEWS
                                
 * Japan's Nikkei average rose 0.6 percent on Wednesday, with
shares of machinery makers advancing on stronger-than-expected
Japanese core machinery orders for September. [.T]
                                
 * The dollar slipped on Wednesday but managed to avoid
falling below recent 15-month lows against a basket of currencies
as investors paused for breath after a recent spike in the euro
and higher-yielders. [FRX/]
                                
 * The 19-commodity Reuters-Jefferies CRB index <.CRB>, which
tracks 19 mostly U.S.-traded futures markets, fell 0.7 percent on
Tuesday as the dollar's rise hurt some commodities, but firm gold
prices and higher closings in corn and cotton limited the
downside. [COM/WRAP]
                                
 DATA/EVENTS
                                
 * The following data is expected on Wednesday:
                                
 - HOLIDAY-U.S. government offices, bond markets closed;
                                
   stock markets open.
                                
 - OPEC Monthly Oil Market Report
                                
 RELATED NEWS
> Chilton sees decision in December on limits        [nN10337375]
> Sen Dodd seeks more muscle in US financial reforms [nN10327951]
> Fed officials cautious on U.S. economic recovery   [nN10315173]
> OPEC undecided on output, sees market balanced     [nPEK207085]
                                
 PRICES
 Oil prices as of 0017 GMT          
 Contract Mnth    Price  Change  Day ago     pct     MA-20*
 NYMEX Contracts
 US Crude DEC9   $79.10   +0.05   -$0.38  -0.48%     $78.96
 Heat Oil DEC9   205.21   -0.02    -1.04  -0.50%     204.36
 RBOB     DEC9   197.43   -0.31    -0.44  -0.22%     199.13
 Natgas   DEC9   $4.490  +0.023  -$0.203  -4.35%     $4.749
 ICE Contracts
 Brent    DEC9     NA             -$0.27  -0.35%     $77.23
 Gasoil   NOV9     NA             -$0.50  -0.08%    $631.69
 Note: U.S. heating oil and RBOB gasoline contracts listed in
cents per gallon.
 * = 20-day moving average for continuation month.
 (Reporting by James Topham)