SEOUL, April 20 (Reuters) - U.S. crude futures edged up in
early Asian trade on Wednesday as a weaker dollar and firmer
equities buoyed prices on top of a smaller than expected rise in
last week's U.S. crude inventory.
FUNDAMENTALS
* NYMEX crude for June delivery <CLc1> was up 11 cents
at $108.39 a barrel by 0044 GMT, after settling up 59 cents
at $108.28 a day earlier.
* Brent crude for June <LCOc1> was also up 2 cent at $121.35
a barrel versus its 28-cent-lower settlement at $121.33.
* U.S. crude inventories rose last week less than forecast
while oil product stocks fell, data from the American Petroleum
Institute (API) showed on Tuesday, despite a rebound in U.S.
refinery utilization. []
* U.S. crude oil inventories increased for the seventh
straight time last week as crude imports rose faster than
refinery demand, a Reuters poll showed on Tuesday. The U.S.
Energy Information Administration will issue its own weekly data
on Wednesday at 10:30 a.m. EDT. []
* Oil prices are likely to stay high and adding more crude
to the market would not cool them, Iran said on Tuesday,
striking a typically bullish stance a day after other OPEC
members said costly fuel could slow global growth.
[]
* U.S. Treasury Secretary Timothy Geithner, going on the
offensive one day after Standard & Poor's threatened to lower
its top-tier rating on U.S. government debt, said on Tuesday
there was "no risk" of a downgrade, and prospects for a
deficit-reduction deal were improving. []
MARKETS NEWS
* The euro and commodity currencies like the Australian
dollar rose early in Asia on Wednesday. The euro last traded at
$1.4364 , having bounced off a two-week low around $1.4155
set on Monday. The dollar made little gains on the yen as U.S
Treasury yields eased. It last traded at 82.73, having retreated
from six-month highs around 85.54 on April 7.
* World stocks rose on Tuesday, recouping the prior day's
losses, but nagging debt worries on both sides of the Atlantic
and new signals of inflation dangers in China curbed appetite
for risk. Wall Street stocks closed up 0.5 percent
in choppy trading.
DATA/EVENTS (GMT)
* 0600 - Germany producer prices for March
* 0800 - Italy industrial orders/sales for February
* 0830 - BOE policy meeting minutes
* 0830 - Swedish central bank's policy announcement
* N/A - ECB Governing council meeting, Frankfurt
* N/A - European commission proposal for 2012 budget
* 1100 - Weekly U.S. mortgage market index
* 1400 - U.S. existing home sales for March
* 1430 - EIA weekly petroleum stocks and output data
RECENT CRUDE OIL TRADES
Asia... Europe... Americas...
CRUDE OIL MARKET NEWS
Crude oil tenders in Asia........................
Crude oil supply outages in Asia............
Refinery outages in Asia....................
Global arbitrage news and flows.................
W.African crude imports to Asia, monthly........
REFINERY MAINTENANCE DIARIES
Asia... Middle East... Europe...
NATIONAL CRUDE IMPORT DATA
Japan..............
China..............
India..............
S.Korea............
Indonesia.......
CRUDE OIL INVENTORY DATA
Japan... US... Europe...
CRUDE OIL PRODUCTION/OILFIELD NEWS
OPEC output survey... New Asian fields.
New projects......
CRUDE OIL MARKET REPORTS
Middle East........... Asia-Pacific........
West Africa......... North Sea............
Asia outlook....... Europe outlook.....
Global futures report... Technicals report......
PRICES
For all Official Selling Prices......................
For a POLL on oil prices............................
NYMEX and ICE oil futures...........................
TOCOM crude oil futures.............................<0#JCO:>
Dubai, Oman swaps and spread...............
Middle East physical crude diffs...............
Australia physical crude, Tapis swaps..........
Asia-Pacific physical crude....................
All Asian crude oil differentials................<0#C-DIF-A>
All Asian crude oil outright prices..................<0#C-A>
(Reporting by Cho Mee-young;Editing by Clarence Fernandez)
