NYMEX-Crude up as euro zone data, storm watch lift |

Energy & Oil | Reuters

* Euro zone economic data boosts equities, oil prices * NHC: tropical depression/storm likely,
supports oil * Coming up: EIA natural gas storage data 10:30 a.m. EDT NEW YORK, July 22
(Reuters) - U.S. crude oil futures rose on Thursdayas positive euro zone economic data and
increased possibility of a tropicalstorm in the Gulf of Mexico helped oil rebound after losing more
than 1percent in the previous session. Federal Reserve Chairman Ben Bernanke's expressions of
concerns aboutthe economy and data showing U.S. crude oil inventories unexpectedly roselast week
pushed oil prices lower on Wednesday. Gains were tempered on Thursday by news that U.S. new
jobless claimsrose more steeply than anticipated last week, according to the LaborDepartment.
[ID:nN21163086] FUNDAMENTALS * On the New York Mercantile Exchange, September crude
CLU0 rose 33cents to $76.89 a barrel by 8:36 a.m. EDT (1236 GMT), having traded from$76.16 to
$77.24. * The euro zone's private sector surged ahead this month, according toMarkit's Eurozone
Flash Services Purchasing Managers' Index released onThursday. [ID:nSLALIE68S] * Euro zone
industrial new orders rose in May at their fastest annualrate in 10 years, European Union statistics
office Eurostat said.[ID:nBRQ009921] * The U.S. dollar fell broadly as better-than-forecast
Europeaneconomic data boosted equities and spurred appetite for risk, with a dropin U.S. lending
rates putting additional pressure on the currency. [USD/] * The U.S. National Hurricane Center said
a tropical depression ortropical storm could form at any time on Thursday in the Caribbean east
ofCuba. The center said there was a 70 percent chance a tropical storm couldform.
[ID:nN22225736]ECONOMIC NEWS * Fed Chairman Ben Bernanke delivers semiannual testimony
on theeconomy and monetary policy before the House Financial Services Committee.9:30 a.m. EDT
(1330 GMT) * National Association of Realtors releases existing home sales forJune, 10 a.m.
Forecast a 5.18 million annualized unit total versus 5.66million annualized units in May. *
Conference Board releases June leading economic indicators. 10 a.m.Forecast 0.3 percent decline
versus 0.4 percent rise in prior month. * EIA releases weekly natural gas inventory report. Forecast
up 53billion cubic feet. 10:30 a.m. EDT (1430 GMT)OUTSIDE MARKETS * Dollar falls further
against the yen after jobless claims. [FRX/] * Gold slips below $1,190 an ounce as players await
European bankstress tests at the end of the week. [GOL/]8:36 LAST NET PCT LOW HIGH CURRENT
DAY AGO CHNG CHNG VOL VOLCLc1 76.89 0.33 0.4% 76.16 77.24 34,933 34,223CLc2 77.27 0.27
0.4% 76.6 77.60 8,316 285,817RBc1 2.0747 0.0069 0.3% 2.063 2.0805 945 23,963RBc2 2.0714
0.0065 0.3% 2.0592 2.0781 2,014 28,044HOc1 1.9962 0.0070 0.4% 1.9846 2.0031 1,102
34,346HOc2 2.0234 0.0071 0.4% 2.0099 2.0300 2,491 36,448TECHS LAST MA-30 MA-90 Boll up
Boll dn RSI-30 Imp VolCLc1 76.89 76.05 78.1 79.54 72.17 51.66 32.59RBc1 2.0747 2.0600 2.1800
2.1900 1.9700 45.25 33.25HOc1 1.9962 2.0900 2.0800 2.2000 1.8300 46.18 31.99 * NYMEX crude
oil for September CLc1 rose 33 cents to $76.89 a barrel by8:36 a.m. in volume of 34,940 lots.
(Reporting by Robert Gibbons; Editing by John Picinich)

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