* Oil rises almost 1 pct after Chinese oil imports surge
* Weak U.S. dollar, cold weather lend further support
* Saudi keeps Feb crude supply steady to major Asian buyers
(Updates throughout, changes dateline from PERTH)
By Joe Brock
LONDON, Jan 11 (Reuters) - Oil prices rose 1 percent on
Monday, hitting a fresh 15-month high above $83 a barrel,
supported by data showing China's crude oil imports surged by
nearly 25 percent in December and as the U.S. dollar weakened.
The prolonged cold snap in the U.S. and Europe continued to
boost demand for heating fuel, lending support to oil prices.
[]
U.S. crude for February delivery <CLc1> rose 67 cents to
$83.42 a barrel by 0958 GMT, off an earlier peak of $83.67, the
highest price since October 2008.
London Brent crude <LCOc1> gained 60 cents to $81.97.
But oil is still 43 percent below its July 2008 high of more
than $147 a barrel.
"The weak U.S. dollar, cold weather and robust Chinese
import data are all supporting oil today," said Carsten Fritsch,
oil analyst at Commerzbank in Frankfurt.
"At the moment the market is only looking at positive data,
not negative numbers," he added.
China, the world's second-largest energy consumer, imported
over 20 million tonnes of crude for the first time ever in
December, up almost a quarter from November, according to
Customs data published on Sunday. []
For a graphic on Chinese crude oil imports, click here:
http://graphics.thomsonreuters.com/0110/CN_CRDIM0110.gif
Asian equities rose to a 17-month high on Monday as a strong
rebound in China's exports raised optimism about the region's
economic outlook, while the dollar <.DXY> fell 0.53 percent
against a basket of currencies. []
A weaker U.S. currency makes commodities priced against the
dollar, like oil, cheaper for those holding other currencies.
For a graphic on the negative correlation between the U.S.
dollar and crude, click here:
http://graphics.thomsonreuters.com/0110/CMD_OIL$CR0110.gif
Tensions in Nigeria's main oil producing region have removed
some supplies from the market, supporting prices, and traders
will be watching carefully for further developments.
Chevron <CVX.N> said on Saturday it had been forced to shut
down 20,000 barrels per day (bpd) of crude oil production in
Nigeria, a day after security sources said gunmen had attacked a
pipeline operated by the U.S. firm. []
Saudi Arabia, the world's top crude exporter, has kept
February oil supply to major Asian buyers and one European major
largely steady against January levels, as the kingdom takes the
lead in sticking to OPEC supply cuts, industry sources said on
Monday. []
With little U.S. economic data this week, corporate results
will be carefully watched to gauge the state of recovery in the
world's largest energy consumer.
U.S. equities could be in for a bumpy ride this week as
three major companies in the Dow Jones index <> kick off the
quarterly earnings reporting season, with investors looking for
reassurances on future profits. []
(Additional reporting by Fayen Wong; editing by Anthony Barker)
