* U.S. new jobless claims rise unexpectedly
* Analysts focus on lower imports in EIA data
* OPEC seen keeping supply targets steady at Sept meeting
(Updates prices, adds new U.S. unemployment claims detail)
By Emma Farge
LONDON, Aug 20 (Reuters) - Oil prices eased towards $72 a
barrel on Thursday, after rising more than 4 percent in the
previous session, as optimism faded about the pace of demand
recovery in the world's top consumer the United States.
U.S. crude for September delivery <CLc1>, which expires on
Thursday's close, was down 8 cents at $72.34 a barrel at 1320
GMT after settling $3.23 higher at $72.42 on Wednesday.
The U.S. crude contract for October was down 53 cents at
$73.30 a barrel. London Brent crude for October <LCOc1> fell by
75 cents to $73.84.
Prices were pressured by a surprise rise in the number of
U.S. workers filing new claims for jobless benefits last week,
up to 576,000 from 561,000 the week before. []
Data from the U.S. Energy Information Administration on
Wednesday showed U.S. crude stockpiles plunged by a surprise 8.4
million barrels in the week to Aug. 14 against analysts'
forecasts for a 1.3 million barrel build. That pushed the market
up on Wednesday.
But a consensus began to emerge on Thursday that this was
due to a drop in imports rather than genuine signs that U.S.
fuel demand was on the rise. []
"I think now there's a more realistic view of what the U.S.
data means. There is still a lot of uncertainty about the
economic recovery and how fast it will be," said EGL analyst
Andy Sommer.
Earlier, prices jumped in response to a 4.5 percent surge in
Chinese stocks on Thursday following modest signs of official
support for the market which has fallen sharply over the last
two weeks.
CHOPPY TRADE
U.S. crude prices have been volatile this week, trading in a
wide $8 range in response to mixed signals about the pace of
economic recovery.
"We expect prices to remain volatile, as the overall demand
picture remains weak, and as equity markets and the dollar
continue to play major roles in influencing trading direction."
said David Moore, commodity strategist with the Commonwealth
Bank of Australia.
Analysts said that the market could again push higher on
Thursday if U.S. July leading economic indicators and weekly
jobless claims were positive.
The release of first-time claims for jobless benefits for
the week ended Aug. 15 at 1230 GMT, and July leading economic
indicators at 1400 GMT, are expected to show a gradual, nascent
recovery in the U.S. economy <ECONPOLL1>.
On the supply front, increased oil output to a year-high
from OPEC president Angola, flouting agreed limits, has helped
stack the odds against any formal change when the producer group
meets in September.
Without a sharp slide in crude prices, the producer group is
likely to leave its output targets unchanged when it meets on
Sept. 9, most OPEC delegates and analysts said. []
(Additional reporting by David Sheppard in London and Jennifer
Tan in Singapore; editing by William Hardy)
