* U.S. crude stockpiles jump 2 million barrels - EIA
* IEA ups forecast for 2015 demand, supply
* For a technical view, click: [
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(Updates prices, details)
By David Sheppard
LONDON, June 23 (Reuters) - Oil fell by 2 percent to $76 a barrel on Wednesday after government data showed U.S. crude stocks rose sharply last week and the International Energy Agency forecast supplies would be comfortable for five years.
At 1401, U.S. crude for August delivery <CLc1> slid $1.72 to $76.11 a barrel, extending declines into a second day. Prices earlier touched a low of $75.17 a barrel before partly recovering.
ICE Brent crude futures for August <LCOc1> fell $1.73 to $76.31 a barrel.
The U.S. Energy Information Administration said crude oil inventories rose by 2 million barrels last week, contrary to analysts' expectations for a drop of 800,000 barrels. The build was slightly below industry data published on Tuesday.
Prices got some support from signs demand is improving in the world's largest energy consumer. U.S. inventories of gasoline fell by 700,000 barrels last week, the EIA said, with demand over the past four weeks up 1.2 percent on last year.
Distillate demand, which includes diesel, heating oil and jet fuel, is up by almost 12 percent over the past four weeks on the same period last year as an improving economy boosts consumption.
U.S. distillate stocks rose by 300,000 barrels, against analyst expectations for a 1.3 million barrel build.
"The EIA's data on gasoline and distillates appears to be bullish as demand is rising, though not as strong as what we've seen at this time of the year two years ago, before the economic crisis set in," said Mark Waggoner, president of Excel Futures in Bend, Oregon.
"The market may need more time to digest this mixed data and at this point, it is not clear what impact the EIA data will have."
Prices came under additional pressure after U.S. single-family home sales tumbled by more than expected to a record low in May, heightening concerns about the pace of the economic recovery. [
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MEDIUM-TERM OUTLOOK
While average daily global oil consumption is expected to grow by 1.2 million barrels each year between 2009 and 2015 supply will largely keep pace, the International Energy Agency (IEA) said in its annual medium-term oil and gas report.
"For the next few years, the oil market is marked by more comfortable spare capacity than envisaged last year, and the duration of the current gas glut is set to last beyond 2013, at least in some regions. Yet, we shouldn't be complacent," the Paris-based IEA said. [
]Global oil production capacity was seen hitting 96.5 million barrels per day (bpd) by 2015 from 91 million bpd currently, but potential delays to new deepwater oil projects following the accident at BP's <BP.L> oil rig in the U.S. Gulf of Mexico may tighten supplies.
On Tuesday, a U.S. judge blocked the Obama administration's six-month ban on deepwater drilling imposed in the wake of BP Plc's <BP.L> Gulf of Mexico oil spill, but the White House said it would appeal against the ruling. [
]A tropical wave south of Haiti strengthened slightly overnight and could develop into a tropical depression over the next couple of days, the U.S. National Hurricane Center said on Wednesday. [
]If the storm develops and turns north to head for the area between Mexico's Yucatan peninsula and western Cuba, as suggested by some models, it could disrupt clean-up operations and oil production in the Gulf of Mexico. [
]Prices of U.S. crude have gained less than 0.5 percent this week after briefly jumping towards $79 on Monday.
They have climbed about 20 percent from a trough below $65 a barrel a month ago but are still about $10 lower than the 19-month peak above $87 a barrel hit in early May, before the onset of the European debt crisis. (Additional reporting the New York Energy Desk and by Alejandro Barbajosa in Singapore; editing by Jane Baird)