NYMEX-Crude extends fall on pipeline restart, OPEC

TOKYO, Jan 19 (Reuters) - U.S. crude futures extended declines on Wednesday, pressured by the restart of the Trans Alaska Pipeline and as the International Energy Agency said OPEC may have quietly raised production in response to prices nearing $100.

FUNDAMENTALS

* NYMEX crude for February delivery <CLc1>, which expires on Thursday, was down 13 cents at $91.25 a barrel by 0011 GMT, after settling down 16 cents at $91.38 a day earlier.

* Alaska's main oil pipeline should restore shipments to its normal rate of 630,000 barrels per day in under a week from around 510,000 bpd, after its recent shutdown due to a leak, the operator said on Tuesday. [ID:nN18166126]

* The IEA said on Tuesday that OPEC leader Saudi Arabia had stealthily boosted output to cool an oil price rally. [ID:nLDE70H1EZ]

Its assessment was starkly at odds with anecdotal evidence from Saudi Arabia's big customers, and with the views of other analysts and consultants captured in a Reuters survey, which showed the Kingdom's output flat last month. [OPEC/O]

The IEA raised its 2011 world oil demand growth forecast by 80,000 barrels per day to 1.41 million bpd in its monthly report. [IEA/M]

* Royal Dutch Shell <RDSa.L> shut four Brent North Sea oil and natural gas platforms on Saturday and did not have a restart time. [ID:nLDE70H1F7]

* A Reuters preliminary poll of analysts forecast that domestic crude stocks declined 300,000 barrels last week. Distillate stocks increased 1.0 million barrels and gasoline supplies rose 2.5 million barrels, the poll showed.

The release of weekly U.S. industry and government oil inventory data this week will be delayed a day following Monday's national holiday.

MARKETS NEWS

* U.S. stocks gained on Tuesday, overcoming weak Citigroup results and concerns circling Apple after news of Chief Executive Steve Jobs' medical leave.

The Dow Jones industrial average <.DJI> rose 50.55 points, or 0.43 percent, to end at 11,837.93. The Standard & Poor's 500 Index <.SPX> added 1.78 points, or 0.14 percent, to 1,295.02.

* The rally in the euro took a bit of a breather early in Asia on Wednesday, having been thwarted again by resistance at the top-end of a prevailing range, which is expected to keep the single currency capped for now. [USD/]

DATA/EVENTS

* The following data is expected on Tuesday: (Times in GMT)

- 0900 - Euro Zone Current account/Nov

- 0930 - U.K. ILO Unemployment rate/Nov

- 1200 - US Mortgage market/wkly

- 1245 - US ICSC Chain Stores/wkly

- 1355 - US Redbook/wkly

- 2130 - American Petroleum Institute oil report/wkly

RELATED NEWS > U.S. gasoline price up for 7th straight week-govt [nN18170111]

PRICES Oil prices as of 0011 GMT Contract Mnth Price Change Day ago pct MA-20* NYMEX Contracts US Crude FEB1 $91.25 -0.13 -$0.16 -0.17% $90.48 Heat Oil FEB1 264.00 -0.59 +0.07 +0.03% 254.75 RBOB FEB1 247.92 +0.00 -1.54 -0.62% 243.32 Natgas FEB1 $4.410 -0.015 -$0.055 -1.23% $4.363 ICE Contracts Brent MAR1 -- +0.00 +$0.37 +0.38% $95.12 Gasoil FEB1 -- +0.00 +$8.00 +0.99% $783.63 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 Chris Gallagher)