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RTRS: NYMEX-Crude up, but U.S. economic data pares gain
 
* Germany, France report 2nd-quarter GDP growth
* U.S. jobless claims up, retail sales disappointing
NEW YORK, Aug 13 (Reuters) - U.S. crude oil futures rose on
Thursday, boosted by encouraging economic data from Germany and
France before disappointing U.S. retail sales and jobless
claims reports tempered oil's rally.
"While seemingly offsetting influences will initially lead
to greater volatility, as market participants' confusion rises,
it is a process and it is unfolding just as it should," said
Mike Fitzpatrick, vice president at MF Global in New York.
"Consistent job growth will not occur until it is obvious
that recovery is fully underway. Consumer spending will
probably rise on a shallower slope here than in Europe,"
Fitzpatrick said.
The mixed news from Europe and the United States came after
the U.S. Federal Reserve said on Wednesday that economic
activity was leveling out and financial market conditions have
improved further. [ID:nFEDAHEAD]
Crude oil futures settled higher on Wednesday, but off
their intraday peak. Ahead of the Fed news, crude futures rose
sharply, tracking an advancing Wall Street and ignoring
government data showing domestic crude inventories rose more
than expected last week.
PRICES
* On the New York Mercantile Exchange at 9:43 a.m EDT (1343
GMT), September crude CLU9 was up 63 cents, or 0.9 percent,
at $70.79 a barrel, trading from $70.42 to $72.21.
* In London, September Brent crude LCOU9 was up 62 cents,
or 0.85 percent, to $73.51 a barrel, trading from $73.24 to
$74.72.
* NYMEX September RBOB RBU9 slipped 0.23 cent, or 0.11
percent to $2.0230 a gallon, trading from $2.0211 to $2.0831.
* NYMEX September heating oil HOU9 rose 1.39 cents, or
0.73 percent, to $1.9060 a gallon, trading from $1.9026 to
$1.9330.
* The September/September RBOB crack spread <0#RB-CL=R> was
at $14.31, after ending at $14.90 on Wednesday. The
September/September heating oil crack spread <0#CL-HO=R> was at
$9.33, after ending at $9.31 on Wednesday.
* The spread between the current front month and the
five-year forward crude contract CLc61 was at $15.88, based
on the September 2014 contract Wednesday settlement at $86.67.
The spread ended Wednesday at $16.51.
TECHNICALS
NYMEX crude 10-day/20-day moving average: $70.83/$68.36
Technical support/resistance:
NYMEX crude: $68.71/$71.95
NYMEX heating oil: $1.8535/$1.9545
NYMEX RBOB: $1.9560/$2.0650
For a full report on technicals, click on [ID:nLD450465]
MARKET NEWS
* Germany and France had a surprising return to economic
growth in the second quarter, data showed. [ID:nLD368819]
* U.S. retail sales unexpectedly fell in July from June, a
government report showed. [ID:nN12109251]
* U.S. import prices fell a steeper-than-expected 0.7
percent in July, the first drop in six months, largely on lower
oil prices, the Labor Department said. [ID:nN13225378]
* The number of U.S. workers filing new claims for jobless
benefits rose unexpectedly last week. [ID:nN13489469]
* The Atlantic Ocean could see its first named storm of the
hurricane season this week. [ID:nN13224620]
* The euro hit a one-week high against the dollar on
Thursday. [USD/]
(Reporting by Robert Gibbons; Editing by Walter Bagley)

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