-- Oil futures little changed as euro zone, macro data remain in focus -- More consolidation likely above this week's lows, analyst says -- Brent-WTI spread may stay double-digit into 2014 and beyond, Morgan Stanley says By Konstantin Rozhnov Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Crude-oil futures were little changed Thursday in choppy trade, as concerns over the euro zone and rising U.S. oil inventories were counterbalanced by fairly upbeat recent macro-economic indicators from Asia. At 1047 GMT, the front-month July Brent contract on London's ICE futures exchange was 34 cents, or 0.3%, lower at $109.41 a barrel. The front-month June contract on the New York Mercantile Exchange was trading up 5 cents at $92.86 a barrel. European stocks and the euro fell Thursday on worries that Greece's crisis could spread to other euro-zone countries and on reports that the European Central Bank has stopped lending to some Greek banks. A further economic slowdown in the euro zone would likely cut the region's demand for oil. A rise of more than 10% in U.S. crude inventories over the past eight weeks to the highest level since August 1990, reported Wednesday, also continued to pressure oil futures. But better-than-expected macro-economic data from Japan and Singapore Thursday fueled hopes that Asian oil demand is likely to stay strong, analysts said. Later Thursday, some more consolidation above this week's lows is expected in oil futures, said VTB Capital analyst Andrey Kryuchenkov "Both benchmarks [are] taking a breather," he noted. Meanwhile, a double-digit premium of Brent over Nymex crude may stay into 2014 and beyond, as "growing oil and condensate production will continue to challenge North American crude infrastructure through at least 2015 and likely beyond," Morgan Stanley said in a note. "That said, spreads will likely exhibit greater volatility going forward as new production comes online and pipeline projects are proposed, completed or canceled, changing pathways for incremental volume," it said. At 1047 GMT, the spread stood at $16.18 a barrel. Later Thursday, market participants will focus on U.S. weekly jobless claim data for further cues on future demand for oil in the world's largest oil consumer. At 1047 GMT, the ICE's gasoil contract for June delivery was down $8.00, or 0.9%, at $923.50 a metric ton, while Nymex gasoline for June delivery was 66 points, or 0.2%, lower at $2.9143 a gallon. -By Konstantin Rozhnov, Dow Jones Newswires; +44 207 842 9956; konstantin.rozhnov@dowjones.com

Source