NYMEX-Crude extends loss on expectations of high inventories

TOKYO, Jan 20 (Reuters) - U.S. crude futures fell on Thursday, adding to the previous day's 0.7 percent decline amid expectations that crude inventories deliverable for upcoming NYMEX contracts will stay high for a while.

FUNDAMENTALS

* NYMEX crude futures for February delivery <CLc1> were down 21 cents at $90.65 a barrel in early Asian trade. The contract fell 52 cents to settle at $90.86 on Wednesday, one day ahead of the contract's expiry, in relatively thin trade. [O/R]

* U.S. crude oil inventories were forecast to have fallen by 600,000 barrels last week while gasoline and distillate stocks were expected to be higher, according to a Reuters poll. [EIA/S]

Weekly fuel stock data from the U.S. government is out on Thursday at 11:00 EST (1600 GMT), delayed by one day because of a public holiday on Monday.

* U.S. retail gasoline demand rose for the first time in three weeks on healthy driving usage in the Gulf Coast, Rocky Mountains and West Coast, MasterCard Advisors' Spending Pulse report showed on Wednesday. [ID:nN19249454]

MARKETS NEWS

* The euro succumbed to a bit of profit taking early in Asia on Thursday, after having extended its rally to an eight-week high above $1.35 overnight, bringing a key technical level in focus that could throw a speed-bump in its path. [USD/]

* The S&P 500 U.S. share index suffered its biggest decline in nearly two months on Wednesday on disappointing results from Goldman Sachs and Wells Fargo.

* Goldman Sachs' <GS.N> commodities trading risk has hit a near seven-year low, quarterly results on Wednesday showed, suggesting the Wall Street giant had become less aggressive lately in taking advantage of surging oil, metals and grains prices. [ID:nN19232949]

DATA/EVENTS

* The following data is expected on Thursday (GMT):

0200 China GDP Q4 <CNGDP=ECI>

0200 China Industrial output Dec <CNIO=ECI>

0200 China Retail sales Dec <CNRSL=ECI>

0200 China CPI Dec <CNCPI=ECI>

0200 China PPI Dec <CNPPI=ECI>

1330 U.S. Initial Claims Weekly <USJOB=ECI>

1500 U.S. Lead indicators Dec <USLEAD=ECI>

1500 U.S. Philly Fed index Jan <USPFDB=ECI>

1530 U.S. EIA weekly crude stocks Weekly <USOILC=ECI>

1530 U.S. EIA weekly dist. stocks Weekly <USOILD=ECI>

1530 U.S. EIA weekly gasoline stk Weekly <USOILG=ECI>

1530 U.S EIA natural gas stocks Weekly <USOILN=ECI>

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PRICES

Oil prices as of 0047 GMT Contract Mnth Price Change Day ago pct MA-20* NYMEX Contracts US Crude FEB1 $90.65 -0.21 -$0.52 -0.57% $90.58 Heat Oil FEB1 265.29 -0.33 +1.03 +0.39% 255.58 RBOB FEB1 247.83 -0.33 +0.24 +0.10% 243.84 Natgas FEB1 $4.569 +0.008 +$0.136 +3.07% $4.379 ICE Contracts Brent MAR1 -- +0.00 +$0.36 +0.37% $95.58 Gasoil FEB1 -- +0.00 +$3.25 +0.40% $787.70 Note: U.S. heating oil and RBOB gasoline contracts listed in cents per gallon. * = 20-day moving average for continuation month. (Reporting by Risa Maeda; Editing by Edwina Gibbs)