SINGAPORE, Nov 23 (Reuters) - U.S. crude futures were
steady on Tuesday, trading around $82 a barrel, tracking moves
in the dollar and worries about euro zone indebtedness.
FUNDAMENTALS
* U.S. crude for January delivery <CLc1> rose 4 cents to
$81.78 a barrel by 0106 GMT. Prices earlier rallied by almost
half a percent to above $82, reversing Monday's 24-cent loss.
* Crude closely tracked the dollar which traded either
side of Monday's late value of $1.3620, between $1.3561 and
$1.3633.
* The euro stayed on the backfoot early in Asia on
Tuesday, having suffered a steep reversal overnight after
political uncertainty in Ireland quickly quashed initial
euphoria over a bailout plan.
* The European Union and International Monetary Fund
agreed on Sunday to help support Ireland with loans to tackle
its banking and budget crisis after the country formally
requested aid. The deal is expected to total 80 billion to 90
billion euros ($109.8-$123.6 billion). []
* In addition to the problems in Europe that could
threaten oil demand, investors remain cautious amid concerns
China will do more to cool inflation even after last week's
increases in bank reserve requirements. []
* U.S. gasoline futures <RBc1> were steady at $2.1515,
having shed 2 percent Monday on refinery restarts in the U.S.
Northeast.
Gasoline futures rose 3 percent last Thursday, a jump
attributed to the unexpectedly large drop in gasoline stocks
in the week to Nov. 12 reported by the government.
* Looking ahead, investors are waiting for weekly stocks
data from the American Petroleum Institute at 4:30 p.m. EST
(2130 GMT). U.S. crude oil inventories likely fell last week
as imports declined, a Reuters poll showed on Monday.
According to a Reuters poll, government stocks data expected
Wednesday, will show crude stocks fell 2.3 million barrels on
average in the week to Nov. 19.
* That would follow a surprise heavy drawdown in the week
to Nov. 12, the biggest drop in 14 months, and would stretch a
decline in stocks to a third week.
MARKETS NEWS
* Stocks fell on Monday while the dollar rose after
initial optimism over Ireland's debt bailout gave way to
concerns about the government's future and problems elsewhere
in the euro zone.
* Developments in the Irish sovereign debt crisis
underpinned a rise in prices of safe-haven U.S. government
bond prices. Gold also rose on safe-haven buying, but oil and
other commodities were pressured by a stronger dollar on Monday.
* On Tuesday, the dollar index , which tracks the
greenback's performance against a basket of major currencies,
rose 0.2 percent to 78.631, bouncing off a one-week low of
77.975.
The following data and events are due Tuesday:
(GMT) DATA/EVENTS
0700 Germany GDP detailed yy Q3
0858 EZ Markit Mfg Flash PMI Nov
1245 U.S. ICSC chain stores yy Weekly
1330 U.S. GDP preliminary Q3
1355 U.S. Redbook mm Weekly
1500 U.S. Existing homes pct mm Oct
1500 U.S. Richmond Fed mfg Nov
1900 U.S. FOMC minutes of Nov 2-3 meeting
2130 U.S. API weekly crude stocks Nov 19
2130 U.S. API weekly dist. stocks Nov 19
2130 U.S. API weekly gasoline stk Nov 19
:: Japan Public holiday, markets closed
(Reporting by Nick Trevethan; Editing by Himani Sarkar)
To read the previous day's closing report click on
To read the previous technical report click on
Diary of upcoming energy news and events
RECENT CRUDE OIL TRADES
Asia... Europe...
Americas...
CRUDE OIL MARKET NEWS
Crude oil tenders in
Asia........................
Crude oil supply outages in
Asia............
Refinery outages in
Asia....................
Global arbitrage news and
flows.................
W.African crude imports to Asia,
monthly........
REFINERY MAINTENANCE DIARIES
Asia... Middle East...
Europe...
NATIONAL CRUDE IMPORT DATA
Japan.............. China..............
India.............. S.Korea............
Indonesia.......
CRUDE OIL INVENTORY DATA
Japan... US...
Europe...
CRUDE OIL PRODUCTION/OILFIELD NEWS
OPEC output survey... New Asian
fields...
New Africa fields... New Europe
fields..
New Americas fields.. New
projects.....
CRUDE OIL MARKET REPORTS
Middle East...........
Asia-Pacific........
West Africa......... North
Sea............
Asia outlook....... Europe
outlook.....
Global futures report... Technicals
report......
PRICES
For all Official Selling
Prices......................
For a POLL on oil
prices............................
NYMEX and ICE oil
futures...........................
TOCOM crude oil
futures.............................<0#JCO:>
Dubai, Oman swaps and
spread...............
Middle East physical crude
diffs...............
Australia physical crude, Tapis
swaps..........
Asia-Pacific physical
crude....................
All Asian crude oil
differentials................<0#C-DIF-A>
All Asian crude oil outright
prices..................<0#C-A>
