SINGAPORE, May 12 (Reuters) - U.S. oil rose on Thursday, rebounding from a sharp sell-off the previous session driven by an unexpected rise in U.S. gasoline stocks.
FUNDAMENTALS
* NYMEX crude for June climbed $1.05 to $99.26 a barrel, after tumbling $5.67 on Wednesday.
* Brent crude
* U.S. gasoline futures rose 2.72 cents to $3.1500 a gallon, a day after plummeting 7.6 percent -- their biggest daily drop since September 2008. The second big commodities sell-off in a week triggered a five-minute halt in trading of NYMEX crude and refined products.
* U.S. crude oil stocks rose to a two-year high and gasoline inventories climbed for the first time in 12 weeks as demand for the motor fuel dropped from year-ago levels, the Energy Information Administration said.
* China's industrial output growth eased much more than expected in April to suggest the world's second-biggest economy is cooling, reducing the need for further aggressive monetary policy tightening even as inflation remains stubbornly high. [ID:nL3E7GB0H2]
* Crude plunged more than $16 a barrel last week -- down 10 percent last Thursday alone -- with investors weighing factors from the death of Osama bin Laden to the impact of higher fuel and commodity costs on the economies of consumer nations.
* The CME Group, parent of the Chicago Board of Trade, raised margins for NYMEX RBOB gasoline futures by 21.4 percent to $8,500 per contract from $7,000 effective after the close of business on Thursday. [ID:nL3E7GB416]
MARKETS NEWS
* Renewed worries about Greek debt and another sell-off in the commodities market drove the euro sharply lower on Wednesday, with more losses likely as investors grow skittish over the currency's sudden retreat.
* Inflation pressures in the euro zone are continuing to build, European Central Bank policymakers said, as Germany gave Italy's Mario Draghi its blessing to become the bank's next president. [ID:nLDE74A1UI]
* The Minneapolis Federal Reserve Bank president repeated his call for an interest-rate hike by year's end, but comments from two other Fed policymakers suggested continued support for the Fed's easy money stance. [ID:nN11238012]
* Libyan state TV showed footage of an apparently healthy Muammar Gaddafi meeting officials in a Tripoli hotel on Wednesday, ending nearly two weeks of doubt over his fate since a NATO air strike killed his son. [ID:nLDE74A2JN]
DATA/EVENTS (GMT) :
* The following data is expected on Thursday:
0530 India Industrial output y/y Mar 2011
0800 OECD IEA Oil Market Report May
0900 EZ Industrial prodn y/y Mar 2011
1230 U.S. Retail sales April
1230 U.S. Producer prices April
1230 U.S. Unemployment claims Weekly
1430 U.S. EIA natural gas stocks Weekly (Reporting by Randy Fabi; Editing by Clarence Fernandez)
RECENT CRUDE OIL TRADES
Asia... Europe... Americas...
CRUDE OIL MARKET NEWS
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REFINERY MAINTENANCE DIARIES
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NATIONAL CRUDE IMPORT DATA
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CRUDE OIL INVENTORY DATA
Japan... US... Europe...
CRUDE OIL PRODUCTION/OILFIELD NEWS
OPEC output survey... New Asian fields...
New Africa fields... New Europe fields..
New Americas fields.. New projects.....
CRUDE OIL MARKET REPORTS
Middle East........... Asia-Pacific........
West Africa......... North Sea............
Asia outlook....... Europe outlook.....
Global futures report... Technicals report......
PRICES
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