NYMEX-Crude gives back gains to fall further under $72

TOKYO, Feb 9 (Reuters) - U.S. crude futures dropped further under $72 a barrel on Tuesday, giving back some of the previous day's gains when cold weather, geopolitical disputes and a weaker dollar provided support.

FUNDAMENTALS

* NYMEX crude for March delivery <CLc1> was down 40 cents at $71.49 a barrel by 0027 GMT, after settling up 70 cents on Monday, when unusually cold weather was forecast for key heating fuel consuming U.S. regions this week in the wake of heavy snow. [ID:nSGE61708E] [ID:nN04177188]

* International pressure for new sanctions against Iran grew on Monday after Tehran announced plans to make higher-enriched uranium and add 10 nuclear sites in a year, raising Western fears it wants to develop atom bombs. [ID:nLDE61705I]

* A preliminary Reuters poll ahead of weekly U.S. inventory data forecast a 1.2 million barrel build in domestic crude inventories. Distillate stocks fell and gasoline supplies edged up, the poll showed. [EIA/S]

The American Petroleum Institute (API), a U.S. industry group, is scheduled to release its inventory data later on Tuesday.

MARKETS NEWS

* Japan's Nikkei average hit its lowest in two months on Tuesday, with exporters hurt after the Dow industrials closed below 10,000 for the first time since November hit by heightened concerns about the euro zone's sovereign debt troubles. [.T]

* The U.S. dollar drifted lower on Monday as a modest recovery in overseas stock markets and commodities enhanced risk appetite and prompted investors to venture into higher-yielding currencies. [FRX/]

* The Reuters-Jefferies CRB index <.CRB>, a commodities bellwether that tracks prices across 19 futures markets, rose 1.2 percent on Monday, as crude, copper, gold, wheat and sugar prices all closed up on a weaker dollar. [COM/WRAP]

DATA/EVENTS

* The following data is expected on Tuesday:

- ICSC/Goldman Sachs Weekly U.S. Chain Store Sales (1245 GMT)

- Redbook Weekly U.S. Retail Sales (1355 GMT)

- U.S. IBD/TIPP Consumer Confidence for February (1500 GMT)

- U.S. Wholesale Inventories for December (1500 GMT)

- API Weekly U.S. National Petroleum Report (2130 GMT)

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PRICES Oil prices as of 0027 GMT Contract Mnth Price Change Day ago pct MA-20* NYMEX Contracts US Crude MAR0 $71.49 -0.40 +$0.70 +0.98% $76.13 Heat Oil MAR0 187.73 -0.82 +1.07 +0.57% 199.43 RBOB MAR0 188.61 -0.79 +0.76 +0.40% 199.60 Natgas MAR0 $5.440 +0.039 -$0.114 -2.07% $5.497 ICE Contracts Brent MAR0 NA +$0.52 +0.75% $74.54 Gasoil FEB0 NA -$8.00 -1.39% $605.84 Note: U.S. heating oil and RBOB gasoline contracts listed in cents per gallon. * = 20-day moving average for continuation month. (Reporting by James Topham; Editing by Edwina Gibbs)