RTRS: NYMEX-Crude down as dollar firms, EIA data awaited
* Dollar strengthens broadly, weighs on oil
* Workers at French top oil port hub remain on strike
* Coming up: EIA oil inventory data, 10:30 a.m. EDT Wed
NEW YORK, Oct 27 (Reuters) - U.S. crude oil futures prices
fell on Wednesday, on track to end a three-day rally as doubts
about the size and timing of U.S. economic stimulus pushed up
the dollar.
Investors expect the Federal Reserve to start quantitative
easing to support the economy by announcing a bond-buying
program at the next policy meeting of the central bank Nov.
2-3.
Also weighing on crude prices was Tuesday's report from the
the American Petroleum Institute showing U.S. crude stocks
jumped by 6.4 million barrels in the week to Oct. 22, much more
than expected. [API/S]
Gasoline stocks fell 1.8 million barrels and distillate
stocks rose 818,000 barrels, the API said.
The U.S. Energy Information Administration's inventory
report is due at 10:30 a.m. EDT (1430 GMT) on Wednesday.
A Reuters survey ahead of the reports yielded a forecast
for crude oil stocks to be up 1.1 million barrels, gasoline
stockpiles to be up 200,000 barrels and distillate stocks to be
down 1.5 million barrels. [EIA/S"
FUNDAMENTALS
* On the New York Mercantile Exchange, December crude
CLZ0 fell 77 cents, or 0.9 percent, to $81.78 a barrel at
8:37 a.m. EDT (1237 GMT), trading from $81.54 to $82.69.
* Workers at France's Fos-Lavera oil hub will continue
their strike until a deal is made with management, the local
CGT union spokesman said on Wednesday. [ID:nLDE69Q18W]
[ID:nLDE69Q0FT]
* Workers at Total's (TOTF.PA) La Mede refinery in France
voted on Wednesday to end their strike over pension reforms, a
CGT union spokesman said. Fuel production would depend on a
resumption of crude supplies from the Fos-Lavera oil hub.
[ID:nWEA4839]
* Workers at Petroplus' (PPHN.VX) Petit Couronne refinery
voted on Wednesday to end their strike, a CGT union spokesman
said. Fuel would start leaving the refinery depot from
Wednesday afternoon, but a restart of production would depend
on a resumption of crude supplies from the Le Havre oil
terminal, which was still on strike. [ID:nWEA4827]
* Nigeria will export more crude oil in December, pushing
its sales well over 2.1 million barrels per day and far above
its OPEC output target. [ID:nLDE69Q1EM]
* The U.S. Commerce Department released seasonally
adjusted data on durable goods orders on Wednesday showing
orders rose 3.3 percent in September, up after a drop of 1
percent in August and above consensus expectations. But orders
fell when transportation equipment was excluded from the data.
[ID:nCLARLE669]
MARKETS NEWS
* Doubts over how aggressively the U.S. Federal Reserve is
going to stimulate a flagging recovery with another round of
money-printing weighed on world equities and commodities while
boosting the dollar. [MKTS/GLOB]
* The dollar was pushed up to a two-week high against the
yen and a one-week peak versus the euro, which was also
impacted by euro zone banks taking up more cheap funding than
expected at a three-month ECB tender. [FRX/]
* Gold eased towards $1,330 an ounce in Europe as the
dollar firmed. [GOL/]
UPCOMING DATA/EVENTS
* The U.S. Energy Information Administration's inventory
report is due at 10:30 a.m. EDT (1430 GMT) on Wednesday.
* The EIA natural gas storage report is set to be released
on Thursday at 10:30 a.m. EDT (1430 GMT)
* The NYMEX refined products November contracts expire on
Friday.
8:37 LAST NET PCT LOW HIGH CURRENT DAY AGO
CHNG CHNG VOL VOL
CLc1 81.78 -0.77 -0.9% 81.54 82.69 42,988 339,395
CLc2 82.46 -0.74 -0.9% 82.23 83.31 8,575 64,833
LCOc1 82.92 -0.74 -0.9% 82.71 83.67 55,117 153,047
RBc1 2.0762 -0.0178 -0.9% 2.0700 2.0922 1,384 26,711
RBc2 2.0589 -0.0183 -0.9% 2.0532 2.0769 3,673 44,636
HOc1 2.2308 -0.0192 -0.9% 2.2258 2.2474 1,159 23,949
HOc2 2.2486 -0.0198 -0.9% 2.2434 2.2662 3,449 49,171
* NYMEX crude oil for December CLc1 fell 77 cents to $81.78
a barrel by 8:37 a.m. in volume of 42,988 lots.
(Reporting by Robert Gibbons; Editing by Alden Bentley)