Thursday, February 18, 2010

NYMEX-Crude inches down near $77 as dollar stays strong

 TOKYO, Feb 18 (Reuters) - U.S. crude futures edged down towards $77 a barrel
on Thursday as the dollar held onto gains from the previous day, making commodities
such as crude oil costlier for holders of other currencies.
 * NYMEX crude for March delivery CLc1 was down 26 cents at $77.07 a barrel
by 0017 GMT, after settling up 32 cents on Wednesday, when the market weighed
upbeat news from the Federal Reserve and other positive economic data against pressure from a
stronger dollar.
 * U.S. crude oil inventories fell unexpectedly and product stocks rose as refineries
increased activity last week, according to weekly data from industry group
American Petroleum Institute released late on Wednesday. [API/S]
 The U.S. Energy Information Administration will release its weekly oil statistics
later on Thursday. [EIA/S]

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