UPDATE 8-Oil inches down as U.S. weather warms

                                
 * Oil slips as worst of U.S. cold spell nearly over
                                
 * Hit 15-mth high after China crude imports surge 25 pct
                                
 * U.S. weekly crude inventories expected to rise
                                
 * Saudi Feb. oil supply to term buyers largely steady
                                
 (Updates prices at settlement, adds crude inventory poll)
                                
 By Edward McAllister
                                
 NEW YORK, Jan 11 (Reuters) - Oil prices closed marginally
lower on Monday, after early rising to a fresh 15-month high,
as the promise of milder weather in the United States took some
steam out of the market.
                                
 Weather forecasters said the worst of the cold spell, which
swept across the United States and helped support energy prices
over the last two weeks, was nearly over. [ID:nNN1114993]
                                
 U.S. crude for February delivery <CLc1> fell 23 cents to
settle at $82.52 a barrel, off an earlier peak of $83.95, the
highest intraday price since October 2008.
                                
 London Brent crude <LCOc1> fell 40 cents to settle at
$80.97.
                                
 "Cold weather forecasts showing temperatures moderating
later this week has taken the heat off the crude market," said
Phil Flynn, analyst at PFGBest Research in Chicago.
                                
 "The market appears pretty heavy and couldn't take out $84
and so we're seeing some selling at this point."
                                
 Crude was earlier supported by data showing China's crude
oil imports surged by nearly 25 percent in December.
                                
 The world's second-largest energy consumer imported over 20
million tonnes of crude for the first time ever in December, up
almost a quarter from November, according to Customs data
published on Sunday. [ID:nSGE60A01E]
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Chinese crude oil imports: http://link.reuters.com/tep82h
Oil correlation with dollar, equities:
                                
                        http://link.reuters.com/cup82h
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 Investors have looked to wider economic factors in recent
months for signs of economic recovery and a potential rebound
in flagging energy demand. U.S. equities were little changed on
Monday after a week of gains as nervous investors braced for
the start of earnings reporting on Monday. [.N]
                                
 Tensions in Nigeria's main oil-producing region have
removed some supplies from the market, supporting prices, and
traders will be watching carefully for further developments.
                                
 Chevron <CVX.N> said on Saturday it had been forced to shut
down 20,000 barrels per day (bpd) of crude oil production in
Nigeria, a day after security sources said gunmen had attacked
a pipeline operated by the U.S. firm. [ID:nLDE6080BD]
                                
 Saudi Arabia, the world's top oil exporter, will keep crude
supply to major Asian, European and U.S. buyers largely steady
in February, as the kingdom sticks to OPEC supply cuts,
industry sources said. [ID:nSGE60A012]
                                
 The market awaits weekly U.S. inventory data on Tuesday
from the American Petroleum Institute and Wednesday from the
U.S. Department of Energy. According to a Reuters poll of
analysts on Monday, crude stocks rose by 1 million barrels last
week, while distillate stocks fell 1.7 million barrels and
gasoline stocks rose 900,000 million barrels. [EIA/S]
 (Additional reporting by Robert Gibbons and Gene Ramos in New
York, Joe Brock in London, Fayen Wong; Editing by Marguerita
Choy)