* US oil rises to as high as $100.90; Brent hits $115.42
* Both benchmarks set to drop in May, after eight monthly gains
* Juncker's comment spooks markets
* Weak data sparks concerns of U.S. oil demand
* Coming Up: U.S. pending home sales; 1230 GMT (Updates prices)
By Francis Kan
SINGAPORE, May 27 (Reuters) - Brent crude rose on Friday, hovering above $115 a barrel, as a softer dollar and persistent Middle East tensions tempered demand worries triggered by euro zone debt concerns and weak U.S. economic data.
The dollar fell across the board, hitting a record low against the Swiss franc and a three-year low versus the New Zealand dollar, with traders citing talk of dollar selling by model funds and U.S. banks, as well as Asian sovereign players.
"The immediate factor impacting crude's trade direction is the U.S. dollar, which is helping to support prices," Victor Shum, an analyst at Purvin & Gertz, said in Singapore. A softer dollar makes commodities priced in the greenback more attractive to consumers using other currencies.
"It's also the Memorial Day holiday in the U.S. on Monday, and most traders wouldn't want to be caught short over the long weekend."
Brent crude
Both benchmarks were headed for monthly losses in May, snapping eight-month winning streaks.
According to technical charts, a bullish target at $118.43 per barrel was intact for Brent crude, while U.S. oil was expected to zigzag up to $104.60 per barrel, said Reuters market analyst Wang Tao. [ID:nL3E7GR04S] [ID:nL3E7GR049]
But demand concerns stemming from the euro zone debt crisis and disappointing data from top energy consumer United States kept a lid on oil price gains.
Markets were spooked by the possibility of a Greek default after the head of euro zone finance ministers, Jean-Claude Juncker, said the IMF could deny Greece the next tranche of aid.
Juncker's spokesman, however, later clarified that if European and IMF inspectors were convinced by new Greek austerity measures, there would be no problem with the June aid tranche. [ID:nLDE74P1HC]
"There's no question that the euro zone is adding to the volatility of crude futures. If the IMF appoints a new head quickly that might add some clarity to the situation which would support the euro and weaken the dollar," said Shum.
The post of IMF managing director is up for grabs since Frenchman Dominique Strauss-Kahn, arrested on May 14 on charges of attempting to rape a New York hotel maid, quit.
China joined other increasingly powerful but less developed nations to challenge an understanding in the recruitment process that has kept the top job in European hands ever since the IMF was created after World War Two. [ID:nLDE74P1K7]
Weak economic data from U.S. overnight also sparked fresh concerns about oil demand.
Unexpectedly weak consumer spending hobbled the U.S. economy in the first quarter, with GDP coming in at an annual 1.8 percent which was less than expected, corporate profits shrank and there were fresh signs of a slowdown in the labor market - pointing to an uphill struggle for recovery.[ID:nN26233734]
SUPPLY DISRUPTION FEARS
The risk of further supply disruptions in North Africa and the Middle East gained traction again as ongoing conflicts in Yemen and the Libya showed no signs of respite.
In the Middle East, Yemen stood precariously on the verge of civil war on Friday as President Ali Abdullah Saleh defied calls from opponents and world leaders for him to relinquish power. [ID:nLDE74P2GE]
The United States, France and Canada stepped up their calls on Thursday for Yemen's president to step down, after overnight gunbattles killed dozens of people. [ID:nLDE74P0EJ]
In Libya, NATO launched a fourth night of airstrikes on Tripoli on Thursday, leaving smoke rising from Libyan leader Muammar Gaddafi's compound, after the United States said a ceasefire offer from Libya was not credible. [ID:nLDE74P11S]
A draft of the Group of Eight leaders final summit communique on Friday contained strong censure of the Syrian and Libyan leaders. [ID:nLDE74P0CU] (Editing by Himani Sarkar)