* Hurricane shuts some Gulf of Mexico output, bolsters oil
* Private employers add few jobs in June, weighs on oil
* Coming up: EIA inventory data 10:30 a.m. EDT (1430 GMT)
NEW YORK, June 30 (Reuters) - U.S. crude oil futures rose
on Wednesday in seesaw trading ahead of government oil
inventory data and as Hurricane Alex shut some energy
production in the Gulf of Mexico.
Hurricane Alex was on track to strike the northeast coast of
Mexico, just south of the border with Texas, early Thursday
after strengthening to a Category 2 hurricane, the U.S.
National Hurricane Center said. [ID:nN30161749]
The U.S. Bureau of Ocean Energy Management, Regulation and
Enforcement said almost 400,000 barrels per day of oil and 600
million cubic feet of natural gas production in the Gulf of
Mexico shut because of the weather. [ID:nN29TORMFA]
The Louisiana Offshore Oil Port shut on Tuesday night due
to rough seas from Alex and the Houston Ship Channel shut to
traffic on Wednesday.
The industry group American Petroleum Institute said late
Tuesday that crude inventories fell 3.4 million barrels in the
week to June 25, more than forecast. [API/S]
The API said crude oil imports and stocks at the Cushing,
Oklahoma, hub both fell. Gasoline stocks fell 908,000 barrels
and distillates rose 4 million barrels, the API said.
Crude stockpiles were forecast to be down 900,000 barrels,
according to a Reuters analyst survey. Distillate inventories
were expected to be up 800,000 barrels. Gasoline stockpiles
were forecast to have fallen 500,000 barrels. [EIA/S]
The U.S. Energy Information Administration's inventory
report was due at 10:30 a.m. EDT (1430 GMT) on Wednesday.
July refined products contracts expire on Wednesday.
Crude oil prices are on track to post a loss for the second
quarter, which would be the first quarterly loss since 2008.
Graphic on performance across commodity markets in 2010:
link.reuters.com/hun72k
Oil futures trading was choppy on Wednesday, and crude
prices slipped after a report showing U.S. private employers
added only 13,000 jobs in June, compared with a revised gain of
57,000 in May, according to payrolls processor ADP Employer
Services. [ID:nWEN6511]
The Institute for Supply Management-Chicago said on
Wednesday its index of Midwest business activity fell in June
to 59.1 from 59.7 in May. [ID:nNLLUHE67D]
Economic growth concerns helped push oil futures down more
than $2 a barrel on Tuesday.
PRICES
* On the New York Mercantile Exchange at 10:06 a.m. EDT
(1406 GMT), August crude CLQ0 was up 46 cents, or 0.61
percent, at $76.40 a barrel, trading from $75.33 to $76.83.
* In London on the Intercontinental Exchange, August Brent
crude LCOQ0 rose 45 cents, or 0.6 percent, to $75.89 a
barrel, trading from $74.81 to $76.25.
* NYMEX July RBOB RBN0 rose 0.50 cent, or 0.24 percent,
to $2.0770 a gallon, trading from $2.0614 to $2.0845.
* NYMEX July heating oil HON0 was up only 0.04 cent, or
0.02 percent to $2.0217 a gallon, trading from $2.0035 to
$2.0343.
* NYMEX July refined products contracts expire Wednesday.
* The August/August heating oil crack spread <0#CL-HO=R>
was at $9.78 a barrel. The ended Tuesday at $10.15. The
August/August RBOB crack spread <0#RB-CL=R> was at $10.65. The
spread ended Tuesday at $10.79.
* The spread between the current front month and the
five-year forward crude contract CLc61 was at $9.27, based on
the August 2015 contract Tuesday settlement at $85.67. The
spread ended on Tuesday at $9.73.
MARKET NEWS
* The euro gained broadly after banks borrowed less funds
than expected from the European Central Bank, easing concerns
over European banks' funding issues and raising risk appetite.
[USD/]
(Reporting by Robert Gibbons; Editing by Walter Bagley)
