RTRS: NYMEX-Crude up sharply on China data, weak dollar
NEW YORK, Oct 1 (Reuters) - U.S. crude oil futures prices rose more
than 1 percent on Friday as strong manufacturing data from China and the
weak dollar kept oil lifted.
Lower jobless benefits claims and supportive manufacturing data in the
United States on Thursday helped boost crude futures and allowed prices to
post the strongest quarterly rise since the fourth quarter of 2009.
FUNDAMENTALS
* On the New York Mercantile Exchange, November crude CLX0 rose
$1.04, or 1.3 percent, to $81.01 a barrel at 8:14 a.m. EDT (1214 GMT),
trading from $79.70 to $81.15.
* The U.S. National Hurricane Center said the area of disturbed weather
associated with two tropical waves in the Atlantic Ocean still had a 40
percent chance of strengthening into a depression in the next 48 hours.
[ID:nN01182058]
* Chinese manufacturing gathered momentum last month, according to the
official purchasing managers' index, which rose to 53.8 in September from
51.7 in August, well above the median forecast of 52.0 in a Reuters poll of
economists. [ID:nTOE68T090]
* The International Energy Agency said on Friday it sees upward
pressure on oil prices in the second half of 2011 due to a projected
decline in oil stockpiles. [ID:nWEB6049]
MARKETS NEWS
* The dollar sank to an eight-month low against a currency basket on
Friday as investors took speculation U.S. manufacturing due later in the
day would be weak as a chance to sell the greenback. [USD/]
* U.S. stock index futures climbed as the pick up in Chinese
manufacturing eased concerns about the state of the global economy a day
after Wall Street closed its best quarter in a year. [.N]
* World stocks rose on the back of stronger-than-expected economic
indicators from China and the United States. [MKTS/GLOB]
* Gold hit a record high for the sixth straight session on a down
dollar and expectations the Fed would keep an easy policy. [GOL/]
UPCOMING EVENTS/DATA
* U.S. Commerce Department releases August personal income and
consumption at 8:30 a.m. EDT (1230 GMT). Economists in a Reuters survey
forecast a 0.3 percent rise in both income and spending. In July, income
gained 0.2 percent, with spending up 0.4 percent.
* The Commerce Department releases August construction spending at 10
a.m. EDT (1400 GMT). Economists surveyed by Reuters predicted a 0.4 percent
drop in the wake of July's 0.1 percent decrease.
* The Institute for Supply Management releases its September
manufacturing index at 10 a.m. EDT (1400 GMT). Economists in a Reuters
survey projected a reading of 54.5 versus 56.3 in August.
8:14 LAST NET PCT LOW HIGH CURRENT DAY AGO
CHNG CHNG VOL VOL
CLc1 81.01 1.04 1.3% 79.70 81.15 38,422 388,993
CLc2 82.01 1.06 1.3% 80.64 82.13 23,791 179,476
LCOc1 83.27 0.96 1.2% 82.21 83.31 55,605 173,945
RBc1 2.0624 0.0263 1.3% 2.0301 2.0655 3,405 19,896
RBc2 2.0661 0.0237 1.2% 2.0364 2.0710 4,144 59,384
HOc1 2.2852 0.0174 0.8% 2.2605 2.287 3,803 19,444
HOc2 2.2996 0.0172 0.8% 2.2747 2.3024 2,959 62,583
* NYMEX crude oil for November CLc1 rose $1.04 to $81.01 a barrel by
8:14 a.m. in volume of 38,422 lots.
(Reporting by Robert Gibbons; Editing by John Picinich)