RTRS: NYMEX-Crude dips, choppy before EIAs, ADP supports
NEW YORK, Aug 4 (Reuters) - U.S. crude futures edged lower
in seesaw trading on Wednesday after four straight higher
closes, with traders cautious ahead of a government oil
inventory report after industry data on Tuesday showed a crude
stocks fell but less than expected.
Oil and equities markets received a lift on Wednesday from
data showing more U.S. private sector jobs added in July than
forecast.
FUNDAMENTALS
* On the New York Mercantile Exchange, September crude
CLU0 fell 7 cents, or 0.09 percent, to $82.48 a barrel by
8:51 a.m. EDT (1251 GMT), trading from $81.62 to $82.63, a
penny below Tuesday's intraday peak, which was the highest
front-month crude price since prices reached $82.83 on May 5.
* U.S. private employers added 42,000 jobs in July,
compared with a revised higher gain of 19,000 in June, a report
by private payrolls processor ADP showed on Wednesday.
[ID:nEAP103300]
* The American Petroleum Institute industry group inventory
data on Tuesday showed U.S. crude stockpiles fell, but a
less-than-expected 776,000 barrels in the week to July 30.
[API/S] The API said gasoline stocks rose 2.3 million barrels,
with distillate inventories up 1.1 million barrels.
* An expanded Reuters survey of analysts on Tuesday yielded
a forecast for crude stocks to be down 1.4 million barrels.
[ID:nN03449040] Gasoline stockpiles were expected to be down
400,000 barrels, with distillate stocks seen up 1.2 million
barrels.
* The remnant of Tropical Storm Colin lingered in the
Atlantic Ocean, but it and a second tropical wave in the
Caribbean Sea were not likely to strengthen over the next 48
hours and posed no threat to Gulf of Mexico operations, the
U.S. National Hurricane Center said. [ID:nN04227032]
* A source in the office of Mahmoud Ahmadinejad confirmed
that the Iranian president's motorcade had come under an attack
on Wednesday. He said the president, who was traveling from an
airport in the western city of Hamadan to give a speech in a
sports arena, was fine. One person had been arrested, the
source said. [ID:nLDE6730W3]
MARKETS NEWS
* The dollar pared losses against the yen on Wednesday
after the ADP jobs data. The euro was steady around $1.3210
EUR=, down about 0.1 percent on the day.
* Gold rose above $1,190 an ounce in Europe, benefiting
from softer appetite for assets such as stocks and hopes for a
rise in Asian demand, though an ongoing dearth of safe-haven
demand capped gains. [GOL/]
* Markit's final Eurozone Services Purchasing Managers
Index rose to 55.8 in July from June's 55.5, revised slightly
down from preliminary estimates for 56.0.
UPCOMING DATA/EVENTS
* U.S. Energy Information Administration oil inventory data
at 10:30 a.m. EDT (1430 GMT) on Wednesday.
* U.S. Institute for Supply Management Services Purchasing
Management Index for July due at 1000 EDT (1400 GMT). Consensus
forecasts by economists polled by Reuters 53.0 from June's
53.8.
8:51 LAST NET PCT LOW HIGH CURRENT DAY
AGO
CHNG CHNG VOL
VOL
CLc1 82.48 -0.07 -0.1% 81.62 82.63 40,267
306,098
CLc2 82.92 -0.07 -0.1% 82.05 83.07 12,972
83,313
LCOc1 82.38 -0.30 -0.4% 81.67 82.67 58,619
197,725
RBc1 2.1899 -0.0036 -0.2% 2.1721 2.1930 3,257
55,118
RBc2 2.0989 -0.0015 -0.1% 2.0811 2.1013 2,133
17,991
HOc1 2.1974 -0.0026 -0.1% 2.1820 2.2012 3,658
57,899
HOc2 2.2235 -0.0051 -0.2% 2.2106 2.2300 1,056
14,767
TECHS LAST MA-30 MA-90 Boll up Boll dn RSI-30 Imp
Vol
CLc1 82.48 77.07 77.96 82.14 73.78 64.77
30.56
RBc1 2.1899 2.0600 2.1800 2.1900 1.9700 45.25
31.55
HOc1 2.1974 2.0900 2.0800 2.2000 1.8300 46.18
30.18
* NYMEX crude oil for September CLc1 fell 7 cents to $82.48
a barrel by 8:51 a.m. in volume of 40,267 lots.
(Reporting by Robert Gibbons)