RTRS: NYMEX-Crude bounces up on dollar, Bernanke, data
* NYMEX Nov crude oil options expiry on Friday
* Dollar's weakness provides support for crude
* Coming Up: CFTC positions data 3:30 p.m. EDT Friday
NEW YORK, Oct 15 (Reuters) - U.S. crude oil futures prices
rose on Friday as the dollar slumped on remarks from the
Federal Reserve chief, who said low inflation suggested a case
for further central bank action.
Oil got an additional boost from news that U.S. retail
sales rose more than consensus in September. [ID:nN14130355]
Oil prices came under pressure on Thursday as
disappointing jobless claims data and losses on Wall Street
offset benefits from the weak dollar and a government report of
an unexpected slip in oil stockpiles.
FUNDAMENTALS
* On the New York Mercantile Exchange, November crude
CLX0 rose 43 cents, or 0.5 percent, to $83.12 a barrel at
8:34 a.m. EDT (1234 GMT), trading from $82.27 to $83.33.
* French refinery workers cut off a fuel pipeline to Paris
on Friday as protesters piled on pressure to derail President
Nicolas Sarkozy's unpopular pension reform. [ID:nLDE69E1AN]
* Workers at all of France's 12 refineries are currently on
strike, prompting 10 of them to start shutting down, the CGT
and CFDT unions said on Friday. [ID:nWEA2449]
* The Marseille port authority says: A strike at the
Fos-Lavera oil terminals is blocking 65 vessels, including 28
crude oil and 18 refined products tankers. Vessels blocked also
included 10 gas and six chemical tankers. [ID:nWEA2519]
* An oil price of $75-$85 a barrel will not hold back the
global economy, OPEC Secretary-General Abdullah al-Badri told
reporters on Friday. [ID:nOPC000055]
MARKETS NEWS
* World stocks edged down from near two-year highs while
the dollar held near a 10-month low on Friday as investors
sought clues from the U.S. Federal Reserve chief on the extent
of expected U.S. monetary easing.
* The dollar extended losses against the euro after the
text of prepared remarks by Federal Reserve chief Ben Bernanke.
Ahead of the release, the dollar hovered near a 10-month low
against a currency basket. [USD/]
* Gold held steady near $1,380 an ounce in Europe, with the
precious metal's sharp run higher losing momentum as the dollar
steadied. [GOL/]
UPCOMING EVENTS/DATA
* Commodities Futures Trading Commission report on
positions of money managers at 3:30 p.m. EDT (1930 GMT) on
Friday.
8:34 LAST NET PCT LOW HIGH CURRENT DAY AGO
CHNG CHNG VOL VOL
CLc1 83.12 0.43 0.5% 82.27 83.33 35,250 330,288
CLc2 83.78 0.42 0.5% 82.93 83.98 27,122 227,224
LCOc1 84.33 0.14 0.2% 83.60 84.50 72,459 27,957
RBc1 2.1474 0.0109 0.5% 2.1306 2.1528 1,723 46,992
RBc2 2.1292 0.0113 0.5% 2.1140 2.1334 2,229 34,753
HOc1 2.2903 0.0066 0.3% 2.2721 2.295 2,247 42,483
HOc2 2.3095 0.0068 0.3% 2.2900 2.3129 1,851 26,804
(Reporting by Robert Gibbons; Editing by Lisa Von Ahn)