NYMEX-Crude falls toward $77/bbl after 2.6 pct drop

                                
 TOKYO, Oct 29 (Reuters) - U.S. crude futures extended
declines toward $77 a barrel on Thursday, after falling 2.6
percent a day earlier, pressured by government data showing a
surprise build in U.S. gasoline inventories last week
                                
 FUNDAMENTALS
                                
 * NYMEX crude for December delivery <CLc1> was down 35 cents
at $77.11 a barrel by 2359 GMT, after settling down $2.09 at
$77.46 on Wednesday.
                                
 * Oil has been under pressure after U.S. Energy Information
Administration data on Wednesday showed gasoline stockpiles
logged an unexpected gain of 1.7 million barrels.
                                
 U.S. crude oil inventories rose less than expected last week,
while distillate stocks fell steeper than expected. [EIA/S]
                                
 * Oil also came under pressure after sales of new U.S. homes
tumbled unexpectedly in September, the first drop in six months,
feeding doubt about an economic recovery. [ID:nN28300451]
                                
 * Traders await U.S. gross domestic product (GDP) data, due
to be released later on Thursday.
                                
 Analysts expect it to show that the world's largest economy
grew 3.3 percent in the third quarter, but a lower growth figure
could prompt a sell-off in riskier commodities whose prices have
rallied this month. [ID:nN26185389]
                                
 MARKETS NEWS
                                
 * U.S. stocks tumbled in a broad sell-off on Wednesday,
sending the benchmark S&P 500 lower for a fourth straight day,
after the weak data on new home sales. [.N]
                                
 * The U.S. dollar held firm near its highest in more than two
weeks on Thursday, while the yen strengthened broadly as
investors took profits on a host of growth-linked trades that had
been in vogue in recent months. [USD/]
                                
 DATA/EVENTS
                                
 * The following data is expected on Thursday:
                                
 - 0900 GMT--Germany Unemployment Rate/Oct
                                
 - 1000 GMT--Euro Zone Business Climate/Oct
                                
 - 1230 GMT--U.S. Real GDP Advance/Q3
                                
 - 1230 GMT--U.S. Initial Jobless Benefit Claims/Wkly
                                
 - 1500 GMT--U.S. Kansas City Fed Bus Survey/Oct
                                
 RELATED NEWS
> California gasoline demand gains in July -state [nN28322119]
                                
 PRICES
 Oil prices as of 2359 GMT          
 Contract Mnth    Price  Change  Day ago     pct     MA-20*
 NYMEX Contracts
 US Crude DEC9   $77.11   -0.35   -$2.09  -2.63%     $75.56
 Heat Oil NOV9     0.00   +0.00    -5.82  -2.83%     194.90
 RBOB     NOV9     0.00   +0.00    -8.41  -4.06%     189.57
 Natgas   DEC9   $5.055  -0.011  -$0.216  -4.09%     $4.752
 ICE Contracts
 Brent    DEC9       --   +0.00   -$2.06  -2.64%     $73.67
 Gasoil   NOV9       --   +0.00  -$16.00  -2.50%    $603.31
 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 Edwina Gibbs)