* Fed's $600 billion bond-buying plan weighs on dollar * Dollar weakness helps lift oil prices * Coming up: EIA natgas storage data, 10:30 a.m. EDT NEW YORK, Nov 4 (Reuters) - U.S. crude oil futures prices rose on Thursday, on track for a fourth straight day of gains as the dollar weakened following a Federal Reserve decision to pump more money into the economy. The U.S. central bank said on Wednesday it would buy around $75 billion in Treasury bonds each month through mid-2011, totaling around $600 billion. U.S. stock index futures rose on Thursday as more monetary stimulus from the Fed fueled investor risk appetite. [.N] For Fed plan details, click on [ID:nN03120542] FUNDAMENTALS * On the New York Mercantile Exchange, December crude CLZ0 rose $1.15, or 1.4 percent, to $85.84 a barrel by 8:13 a.m. EDT (1213 GMT), trading from $84.92 to $86.05. * Saudi Arabia still thinks $70 to $80 a barrel is a fair price for oil, a senior Gulf source said on Thursday as the oil market rose above $85 a barrel. [ID:nLDE6A31C9] * Saudi Oil Minister Ali al-Naimi said on Monday prices between $70 and $90 a barrel were comfortable for consumers, a shift from previous comments in which he said $70 to $80 was the ideal range for producers and consumers. [ID:nLDE6A10FW] * China's top refineries will process a record-high volume of crude oil in November after Beijing hiked fuel prices, as domestic fuel stocks ran low and diesel shortages were spreading, a Reuters poll showed. [ID:nTOE6A306R] MARKETS NEWS * Asian stocks rose to their highest levels since June 2008 and commodity prices rallied on Thursday after the Federal Reserve's new bond-buying program kept the hunt on for growth and higher yields. [MKTS/GLOB] * The U.S. dollar fell sharply, hitting a 28-year low versus the Australian dollar, as the Fed decision to buy more U.S. government debt triggered demand for risk and undermined the U.S. currency. [FRX/] * Gold rose 1 percent in Europe on Thursday, lifted by the dollar's slide to 11-month lows versus a basket of currencies after the Fed move. [GOL/] UPCOMING DATA/EVENTS * U.S. Labor Department releases weekly jobless claims and Q3 productivity data at 8:30 a.m. EDT (1230 GMT) * Freddie Mac weekly mortgage rates at 10:00 a.m. EDT (1400 GMT) * Canada PMI for October at 10:00 a.m. EDT (1400 GMT) * U.S. Energy Information Administration natural gas storage data at 10:30 a.m. EDT (1430 GMT). 8:13 LAST NET PCT LOW HIGH CURRENT DAY AGO CHNG CHNG VOL VOL CLc1 85.84 1.15 1.4% 84.92 86.05 36,144 281,834 CLc2 86.48 1.15 1.4% 85.55 86.68 11,340 73,142 LCOc1 87.45 1.07 1.2% 86.63 87.59 43,682 195,888 RBc1 2.1625 0.0245 1.2% 2.1383 2.1679 1,429 47,571 RBc2 2.1708 0.0247 1.2% 2.1498 2.1750 685 21,046 HOc1 2.3558 0.0279 1.2% 2.3288 2.359 2,649 43,840 HOc2 2.3796 0.0286 1.2% 2.3530 2.3822 680 17,908 * NYMEX crude oil for December CLc1 rose $1.15 to $85.84 a barrel by 8:13 a.m. EDT on volume of 36,144 lots. (Reporting by Robert Gibbons; Editing by Dale Hudson)

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