TOKYO, Aug 13 (Reuters) - U.S. crude futures rose to above
$76 a barrel on Friday, after falling 7 percent in the past
three sessions amid fears of a fragile global recovery and oil
demand.
FUNDAMENTALS
* NYMEX crude for September delivery <CLc1> was up 34 cents
at $76.08 a barrel by 0014 GMT, after settling down $2.28 at
$75.74 a day earlier, its lowest settlement in a month.
Prices hit a session low of $75.52 on Thursday, the lowest
since July 19.
* Thursday's decline came in tandem with falling U.S. stocks
and a rising dollar after data showed that people filing new
claims for unemployment benefits in the United States
unexpectedly rose in the latest week to its highest level in
close to six months. []
* Oil inventory data this week fed fears about the state of
consumption in the world's biggest consumer, with a bigger than
expected counter-seasonal rise in gasoline stockpiles in the
midst of the U.S. summer driving season. []
* Energy data information provider Genscape said on Thursday
that crude inventories at the key Cushing, Oklahoma, delivery
hub rose 126,077 barrels to 39.89 million barrels in the week to
Aug. 10, just shy of a record high 40 million barrels in late
July. []
MARKETS NEWS
* U.S. stocks ended down for a third straight day on
Thursday as an unexpected rise in jobless claims and a sobering
revenue outlook from Cisco underscored the hurdles to economic
recovery.
* The U.S. dollar fought its way higher on the yen in Asia
on Friday following a report Japan's prime minister and the head
of its central bank would meet to discuss ways to deal with the
currency's export-sapping strength. []
DATA/EVENTS
* The following data is expected on Friday:
- Australia ABARE Wheat supply, exports Jul 0000GMT
- Germany GDP flash yy Q2 <DEGDFY=ECI> 0600GMT
- EZ Eurostat trade, EUR Jun<EUTBAL=ECI> 0900GMT
- OPEC OPEC Monthly Report Aug [] 1000GMT
- India M3 Money Supply <INM3MS=ECI> 1130GMT
- U.S. Consumer prices yy Jun <USCPI=ECI> 1230GMT
- U.S. Real earnings Jul <USEARN=ECI> 1230GMT
- U.S. Retail sales Jul <USRSL=ECI> 1230GMT
- U.S. Michigan sentiment index Aug-P <USMN=ECI>1355GMT
- U.S. Business Inventories mm May <USBINV=ECI> 1400GMT
- U.S. ECRI index Wkly <USECRI=ECI> 1430GMT
- USDA Oil Crops Outlook 2000GMT
- USDA Rice Outlook 2000GMT
- U.S. Cleveland Fed CPI Jul <USCCPI=ECI> TBA
RELATED NEWS
> Brazil halts Petrobras oil platform, cites safety []
PRICES
Oil prices as of 0014 GMT
Contract Mnth Price Change Day ago pct MA-20*
NYMEX Contracts
US Crude SEP0 $76.08 +0.34 -$2.28 -2.92% $79.01
Heat Oil SEP0 200.93 +0.00 -7.37 -3.55% 207.60
RBOB SEP0 196.16 +0.00 -4.28 -2.14% 209.65
Natgas SEP0 $4.284 -0.012 -$0.030 -0.69% $4.577
ICE Contracts
Brent SEP0 $75.80 +0.28 -$2.12 -2.73% $78.23
Gasoil SEP0 $641.00 -7.00 -$11.00 -1.67% $659.75
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 Joseph Radford)
