PERTH, Nov 30 (Reuters) - U.S. crude prices steadied at around $76 on Monday, as nervous investors continued to eye developments in debt-laden Dubai with caution and assess its impact on the pace of the global economic recovery.
FUNDAMENTALS
* U.S. crude for January delivery slipped 7 cents to $75.98 a barrel by 0043 GMT. The contract fell $1.91 to $76.05 a barrel on Friday, 2.5 percent below Wednesday's settlement.
* Abu Dhabi, wealthy capital of the United Arab Emirates, will "pick and choose" how to assist debt-laden neighbour Dubai, a senior official said on Saturday, after fears of a Dubai default sent global markets reeling. [
]* Iran announced plans on Sunday to build 10 new uranium enrichment plants in a major expansion of its atomic programme, just two days after the U.N. nuclear watchdog rebuked it for carrying out such work in secret. [
]MARKETS NEWS
* The dollar rose against the euro and a basket of currencies on Friday as fears of a possible Dubai debt default boosted the greenback's safe-haven appeal. [
]* Dubai, jobs data, Black Friday results and a chance for Congress to throw fireballs at Fed chief Ben Bernanke: The U.S. stock market's path to glory is fraught with peril this week. [
]* Fears of a possible Dubai debt default rippled through markets for a second day on Friday, but the exodus from stocks and rush to the safe-haven U.S. dollar slowed as investors discounted contagion. [
]DATA/EVENTS
* The following data is expected on Monday:
- Britain consumer confidence for Nov
- Japan construction orders (1600 local time)
- Japan Housing Starts (1600 local time)
- France Producer Prices Oct
- Italy Producer Prices Oct
- Britain Mortgage lendings, approvals
RELATED NEWS > Oil falls 2.5 pct on Dubai default worries
[
] > Black Friday sales seen strong,but will it last?[ ] > Banks, world leaders play down Dubai debt threat[ ] > US stocks drop, dollar gains on Dubai worry [ ] > Dubai fears will burnish dlr's safe-haven appeal[ ]PRICES Oil prices as of 0043 GMT Contract Mnth Price Change Day ago pct MA-20* NYMEX Contracts US Crude JAN0 $75.98 -0.07 -$1.91 -2.45% $78.13 Heat Oil DEC9 196.23 +0.01 -2.79 -1.40% 201.86 RBOB DEC9 192.90 +0.28 -7.14 -3.57% 197.31 Natgas JAN0 $5.147 -0.045 +$0.029 +0.56% $4.639 ICE Contracts Brent JAN0 $76.89 -0.29 +$0.19 +0.25% $77.54 Gasoil DEC9 $609.00 +4.00 -$5.75 -0.94% $622.33 Note: U.S. heating oil and RBOB gasoline contracts listed in cents per gallon. * = 20-day moving average for continuation month. (Reporting by Fayen Wong; Editing by Himani Sarkar) ((fayen.wong@thomsonreuters.com; +618 9456 1947; Reuters Messaging: fayen.wong.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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