NYMEX-Crude firms on U.S. econ recovery optimism

                                
 TOKYO, Nov 25 (Reuters) - U.S. crude futures firmed on
Thursday, extending a rally from the day before on optimism about
the U.S. economic recovery, but the Thanksgiving holiday in the
United States and concerns over tensions on the Korean peninsula
may limit further gains.
                                
 FUNDAMENTALS
                                
 * NYMEX crude for December delivery <CLc1> was up 11 cents at
$83.97 a barrel by 0021 GMT, after settling the previous day up
$2.61 at $83.86.
                                
 * The contract jumped 3.2 percent on Wednesday, its biggest
percentage gain in four months. On Tuesday, it fell as low as
$80.28, a one-week trough. [O/R]
                                
 * New U.S. claims for jobless benefits hit their lowest level
in more than two years last week, while consumer spending climbed
for a fourth straight month in October, suggesting the world's
biggest economy is nearing a self-sustaining recovery.
[ID:nN24211131]
                                
 * Increasing investor risk-aversion had seen oil prices fall
about 8 percent since reaching a 2010 high of $88.63 on Nov. 11.
                                
 * U.S. crude oil stockpiles rose 1.03 million barrels to
358.6 million barrels in the week to Nov. 19 as crude imports
jumped by more than a million barrels per day, the U.S. Energy
Information Administration said on Wednesday. [EIA/S]
                                
 MARKETS NEWS
                                
 * The euro earned a reprieve early in Asia on Thursday,
lifting off a two-month trough after three straight sessions of
falls, but with the euro zone debt crisis still festering any
rebound may well prove short-lived. [USD/]
                                
 * Wall Street rallied as U.S. stock investors put aside
worries about swirling global problems on Wednesday, turning to
the improvement in the labour market and signs consumers are
ready to open their wallets ahead of the biggest shopping day of
the year. [.N]
                                
 * Gold fell on Wednesday after two days of gains. [GOL/]
                                
 DATA/EVENTS
                                
 * The following data is expected on Thursday (GMT):
  0300  Japan     PAJ weekly oil inventory data   [O/JAPAN1]
  2330  Japan     CPI, core nationwide, Oct      <JPCPI=ECI>
                                
     U.S.      Federal holiday, markets closed
                                
 RELATED NEWS
 >S.Korea to hold econ emergency meet after attack[ID:nTOE6AN098]
 >Brazil's Mantega says budget cuts to be heavy   [ID:nN24293981]
 >Cuba deal boosts China's L.American oil plans   [ID:nN24170463]
 >Saudi says king had "successful" operation      [ID:nLDE6AN1XM]
 >Global oil glut burns off as demand recovers    [ID:nN24232122]
 >OPEC's Badri says oil price OK, Dec meet smooth [ID:nLDE6AN1P6]
 >UN seeks climate progress; deal may be years off[ID:nLDE6AM206]
                                
 PRICES
                                
 Oil prices as of 0021 GMT
 Contract Mnth    Price  Change  Day ago     pct     MA-20*
 NYMEX Contracts
 US Crude JAN1   $83.97   +0.11   +$2.61  +3.21%     $84.03
 Heat Oil DEC0   232.76   +0.21    +7.59  +3.37%     232.51
 RBOB     DEC0     0.00   +0.00    +7.94  +3.72%     216.97
 Natgas   JAN1   $4.429  +0.041  -$0.027  -0.61%     $4.000
 Note: U.S. heating oil and RBOB gasoline contracts listed in
cents per gallon.
 * = 20-day moving average for continuation month.
 (Reporting by Risa Maeda; Editing by Joseph Radford)