RTRS: NYMEX-Crude up on French strike spread, dollar dip
* Dollar weakens further, continues to support oil prices
* French oil port strike spreads to a refinery, lifts oil
* Coming up: US weekly jobless claims, 8:30 a.m. EDT Thurs
NEW YORK, Oct 7 (Reuters) - U.S. crude oil futures prices
rose on Thursday, continuing to be lifted by a strike at
France's top oil port and the tumbling dollar.
Crude prices jumped to a five-month peak above $84 a barrel
intraday on Wednesday, also on lift from the weak dollar and
after the government reported a larger-than-expected drop in
gasoline stockpiles.
A drop in both gasoline and distillate inventories allowed
investors to shrug off the U.S. Energy Information
Administration's data that crude oil stocks rose more than
expected. [EIA/]
FUNDAMENTALS
* On the New York Mercantile Exchange, November crude
CLX0 rose 45 cents, or 0.54 percent, to $83.68 a barrel at
8:13 a.m. EDT (1213 GMT), trading from $83.24 to $83.95.
* A strike at a French oil port expanded to the refining
sector on Thursday as one out of four plants in the region
joined protests that have already pushed Europe's gasoline
prices to a five-month high. Talks between Fos Lavera strikers
and the port management were still in a deadlock and no
meetings were planned. [ID:nLDE6960HG]
MARKETS NEWS
* The dollar's downtrend gathered pace on Thursday as it
slid to a 15-year low versus the Japanese yen and an all-time
low against the Swiss franc on the prospect of more
money-printing by the Federal Reserve. The greenback was weaker
against the euro and the dollar index .DXY was down. [USD/]
* World stocks shot to a five-month high on widespread
expectations of further easing by central banks. [MKTS/GLOB]
* Gold scaled another record peak on the back of a falling
dollar. [GOL/]
UPCOMING EVENTS/DATA
* U.S. Labor Department releases data on initial jobless
benefits claims for the week ended Oct. 2 at 8:30 a.m. (1230
GMT). Economists in a Reuters survey forecast 455,000 new
filings after 453,000 in the prior week.
* The U.S. Energy Information Administration's natural gas
storage report is set to be released at 10:30 a.m. EDT (1430
GMT) on Thursday. A Reuters' analyst survey forecast storage
would be up 78 billion cubic feet.
* U.S. nonfarm payrolls report for September to be released
at 8:30 a.m. EDT (1230 GMT) on Friday.
8:13 LAST NET PCT LOW HIGH CURRENT DAY AGO
CHNG CHNG VOL VOL
CLc1 83.68 0.45 0.5% 83.24 83.95 26,309 336,832
CLc2 84.39 0.40 0.5% 83.96 84.65 11,236 223,945
LCOc1 85.45 0.39 0.5% 85.11 85.71 39,867 155,267
RBc1 2.1736 0.0177 0.8% 2.1580 2.1740 2,062 61,016
RBc2 2.1600 0.0122 0.6% 2.1486 2.1622 2,538 29,678
HOc1 2.3211 0.0133 0.6% 2.3100 2.3247 1,655 51,698
HOc2 2.3379 0.0111 0.5% 2.3309 2.3416 888 29,505
* NYMEX crude oil for November CLc1 rose 45 cents to $83.68
a barrel by 8:13 a.m. in volume of 26,309 lots.
(Reporting by Robert Gibbons)