SINGAPORE, Nov 6 (Reuters) - U.S. crude futures on Wednesday hovered near five-month lows touched overnight, hurt by concerns over demand as stockpiles in the world's top oil consumer rose again.
Crude inventories climbed 871,000 barrels in the week to Nov. 1 to 382 million barrels, data from industry group the American Petroleum Institute showed on Tuesday. Crude stocks at the Cushing, Oklahoma, delivery hub rose by 999,000 barrels.
While the build in total stocks lagged analyst expectations of a 1.6 million barrel increase, it still marked a seventh straight week of increases.
Investors are now waiting for stockpile data from the U.S. Energy Information Administration (EIA) for clarity on the country's demand-growth outlook.
U.S. crude
FUNDAMENTALS
* Leaders of an autonomy movement in Libya's oil-rich east unilaterally declared a regional government on Sunday, in a challenge to the weak central government as new violence erupted in the restive region.
* The Federal Reserve should wait for stronger evidence of economic momentum before pulling back on its massive bond-buying programme, but should then announce a definitive end to the stimulus, a top Fed official said on Tuesday.
* Iran's top negotiator said on Tuesday that a framework deal with world powers on its nuclear programme was "possible this week", although it would not be a disaster if there were a further delay.
* The U.S. derivatives regulator on Tuesday reintroduced a plan to curb commodity market speculation, reviving a crucial Wall Street reform after a judge knocked down an earlier version of its rules on position limits.
* A technical indicator closely watched by oil traders fell to a more than one-year low on Tuesday, pointing to a potential reprieve in a weeks-long decline in prices. The relative strength of crude oil, or RSI-14, on the December contract fell to 26 on Tuesday, its lowest level since June 2012.
MARKETS NEWS
* Asian stock markets got off to a tentative start on Wednesday after upbeat U.S. data fanned speculation the Fed could start slowing its asset buying as early as next month, lifting bond yields and the dollar.
DATA/EVENTS
* The following data is expected on Wednesday:
- 0858 Euro zone Markit Services PMI
- 1000 Euro zone Retail sales
- 1100 Germany Industrial orders
- 1500 U.S. Leading indicators
(Reporting by Manash Goswami; Editing by Joseph Radford)
((Manash.Goswami@thomsonreuters.com)(+65-68703887)(Reuters Messaging: manash.goswami.thomsonreuters.com@reuters.net))
((CRUDE OIL TRADES Asia...ACRU/T Europe...CRU/T Americas...CRU/TU CRUDE OIL MARKET NEWS Crude oil tenders in Asia........................CRU/TENDA Crude oil supply outages in Asia............CRU/OUT-ASIA-O Refinery outages in Asia....................REF/OUT-ASIA-O Global arbitrage news and flows.................O/CRUDEARB W.African crude imports to Asia, monthly........O/WAFRICA1 REFINERY MAINTENANCE DIARIES Asia...REF/A Middle East...REF/ME Europe...REF/E NATIONAL CRUDE IMPORT DATA Japan..............METI/JP1 China..............O/CHINA1 India..............O/INDIA2 S.Korea............O/KOREA1 Indonesia.......O/INDO1-CRU CRUDE OIL INVENTORY DATA Japan...O/JAPAN1 US...EIA/S Europe...O/EUROIL1 CRUDE OIL PRODUCTION/OILFIELD NEWS OPEC output survey...OPEC/O New Asian fields...ASIA/NEW New Africa fields...AFR/NEW New Europe fields..NSEA/NEW New Americas fields..AM/NEW New projects.....ENERGY/NEW CRUDE OIL MARKET REPORTS Middle East...........CRU/M Asia-Pacific........CRU/AP West Africa.........CRU/WAF North Sea............CRU/E Asia outlook.......ASIA/CRU Europe outlook.....EUR/CRU Global futures report...O/R Technicals report......O/I PRICES For all Official Selling Prices......................OSP/O For a POLL on oil prices............................O/POLL NYMEX and ICE oil futures...........................OILOIL TOCOM crude oil futures.............................0#JCO: Dubai, Oman swaps and spread...............ASIA/SWAP/CRUDE Middle East physical crude diffs...............CRUDE/ASIA2 Australia physical crude, Tapis swaps..........CRUDE/ASIA1 Asia-Pacific physical crude....................CRUDE/ASIA3 All Asian crude oil differentials................0#C-DIF-A All Asian crude oil outright prices..................0#C-A ))
Keywords: MARKETS ASIA NYMEX/




















