TOKYO, March 9 (Reuters) - U.S. crude futures edged down on
Tuesday after hitting an 8-week high above $82 a barrel on
Monday, ahead of industry data expected to show another rise in
U.S. crude inventories.
FUNDAMENTALS
* NYMEX crude for April delivery <CLc1> was down 30 cents at
$81.57 a barrel by 0002 GMT, after settling up 37 cents at $81.87
a day earlier. It touched $82.41 on Monday, the highest since
$83.95 hit on Jan. 11.
* Monday's gains, which followed Friday's $1.29 rise, came as
Friday's better-than-expected jobs data continued to improve
economic optimism.
The U.S. job market improved in February for the sixth
straight month, the Conference Board said. [ID:nNLL8EE629]
* U.S. refinery margins rose last week on the back of
stronger prices for fuel, Credit Suisse said. [ID:nN01340167]
* OPEC will keep output targets steady but could raise output
later in the year as the economy recovers, a Reuters poll showed.
OPEC ministers meet on March 17. [ID:nLDE62715Z]
* A Reuters poll ahead of inventory reports showed U.S. crude
stocks are expected to have risen 1.9 million barrels last week.
Distillate stocks likely fell 900,000 barrels and gasoline
supplies were seen up 300,000 barrels. [EIA/S]
* The U.S. Energy Information Agency is expected to hold its
global oil demand forecast steady for this year in its latest
report, although some analysts believe the agency might be too
optimistic given stubbornly high oil prices and an uncertain
economy. [ID:nN08188405]
MARKETS NEWS
* Technology shares pushed the Nasdaq higher on Monday on an
otherwise flat day for U.S. stocks, led by BlackBerry maker
Research in Motion and Cisco Systems.
* The euro rose slightly against the dollar on Monday as
concerns about Greece's fiscal crisis eased after French
President Nicolas Sarkozy said there are plans to support the
debt-strapped country if necessary. [USD/]
DATA/EVENTS
* The following data is expected on Tuesday:
- 0500 GMT--Japan Leading Indicator/Jan
- 1245 GMT--US ICSC Chain Stores/Wkly
- 1355 GMT--US Redbook/Wkly
- 1500 GMT--US IBD Economic Optimism/Mar
- 2130 GMT--US API Petroleum Report/Wkly
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PRICES
Oil prices as of 0002 GMT
Contract Mnth Price Change Day ago pct MA-20*
NYMEX Contracts
US Crude APR0 $81.57 -0.30 +$0.37 +0.45% $78.12
Heat Oil APR0 210.37 -0.18 +0.81 +0.39% 201.93
RBOB APR0 227.72 -1.20 +1.82 +0.80% 207.79
Natgas APR0 $4.564 +0.037 -$0.066 -1.44% $4.983
ICE Contracts
Brent APR0 -- +0.00 +$0.58 +0.73% $76.09
Gasoil MAR0 -- +0.00 -$2.25 -0.35% $614.44
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; Editing by Michael Watson)