TOKYO, Dec 4 (Reuters) - U.S. crude futures fell for a third day to below $76 a barrel on Friday pressured by weak U.S. service sector data, as traders remained cautious ahead of a U.S. unemployment report later in the day.
FUNDAMENTALS
* NYMEX crude for January delivery <CLc1> was down 51 cents at $75.95 a barrel by 2355 GMT, after settling down 14 cents at $76.46 on Thursday.
* Thursday's loss, which came on top of Wednesday's $1.77 fall, came after data showed the U.S. services sector unexpectedly contracted in November.
* The White House said on Thursday a private-sector payroll report had signalled that November's unemployment level may tick up from 10.2 percent in October, but stressed it was not predicting the outcome of the government's monthly payroll data.
Analysts polled by Reuters expected the unemployment rate to be unchanged at 10.2 percent.
* Kuwaiti Oil Minister Sheikh Ahmad al-Abdullah al-Sabah told reporters the OPEC nation preferred oil prices to remain in the $70-80 a barrel range, adding that he supported leaving crude output targets unchanged when the producer group meets on Dec. 22 in Angola. [
]* After some mild midweek weather, AccuWeather.com expects temperatures in the Northeast United States to cool to below normal later this week and next week, as daytime highs slip into the 30s and low-40s Fahrenheit area (-1 to 6.7 C).
MARKETS NEWS
* U.S. stocks fell on Thursday after data showed the vast U.S. services sector unexpectedly shrank in November and investors worried that Friday's non-farm payrolls report may show the recovery is sluggish.
* The euro firmed against the dollar on Thursday after comments by the European Central Bank suggested it would gradually withdraw emergency liquidity from the system.
The yen, on the other hand, fell broadly for a second straight session, as worries persisted Japan may move to weaken its currency. [
]DATA/EVENTS
* The following data is expected on Friday:
- 1330 GMT--U.S. Non-farm Payrolls/Nov
- 1330 GMT--U.S. Unemployment Rate/Nov
- 1440 GMT--U.S. ECRI Inflation Index/Nov
- 1500 GMT--U.S. Factory Orders/Oct
- 1530 GMT--U.S. ECRI Weekly Econ Index
RELATED NEWS > US stocks fall on data; euro up on ECB comments [
] > Gold, white sugar hit peaks; oil, copper fall [ ]PRICES Oil prices as of 2355 GMT Contract Mnth Price Change Day ago pct MA-20* NYMEX Contracts US Crude JAN0 $75.95 -0.51 -$0.14 -0.18% $77.81 Heat Oil JAN0 203.89 -1.06 +1.31 +0.64% 201.82 RBOB JAN0 198.75 -0.55 +0.02 +0.01% 197.72 Natgas JAN0 $4.470 +0.011 -$0.071 -1.57% $4.593 ICE Contracts Brent JAN0 -- +0.00 +$0.48 +0.62% $77.65 Gasoil DEC9 -- +0.00 +$2.75 +0.45% $620.91 Note: U.S. heating oil and RBOB gasoline contracts listed in cents per gallon. * = 20-day moving average for continuation month. (Reporting by Osamu Tsukimori) ((osamu.tsukimori@thomsonreuters.com ; +813 6441 1857; Reuters Messaging: osamu.tsukimori.reuters.com@reuters.net)) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com))
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