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WSJ:OIL FUTURES: Crude Mixed In Choppy Trade; China Data Supportive
 
By Mari Iwata
Of DOW JONES NEWSWIRES

TOKYO (Dow Jones)--Crude-oil futures in Asia were mixed Friday, with Nymex crude moving between negative and positive territory in choppy trading while Brent crude stayed positive.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in October traded at $89.08 a barrel at 0642 GMT, up $0.03 in the Globex electronic session. October Brent crude on London's ICE Futures exchange rose $0.26 to $114.81 a barrel.

U.S. President Barack Obama's $447 billion plan to revive the U.S. economy and stable consumer price and crude consumption data from China were supportive, but failed to turn the sentiment to strong, analysts said.

Obama's proposals include cutting payroll taxes and spending on infrastructure, but "it is unclear if he can get Congress to pass" the American Jobs Act, so investors aren't reacting enthusiastically, Nihon Unicom analyst Hiroyuki Kikukawa said.

China's inflation-moderated CPI rose 6.2% in August, slower than 6.5% in July. Its August crude runs were up 4.5% from a year earlier, slower than a 6.6% average rise in the first eight months.

"Economic problems in the U.S. and Europe won't be solved overnight, so there are only China and India to look to" for a positive outlook, Market Strategy Institute analyst Koichiro Kamei said.

Nymex reformulated gasoline blendstock for October--the benchmark gasoline contract--fell 52 points to $2.8800 a gallon, while October heating oil traded at $3.0554, 111 points higher.

ICE gasoil for September changed hands at $960.00 a metric ton, down $7.00 from Thursday's settlement.

-By Mari Iwata, Dow Jones Newswires; 813-6269-2798; mari.iwata@dowjones.com

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