NEW YORK, Nov 16 (Reuters) - U.S. crude futures rose above $77 a barrel on Monday as the dollar weakened, prompting investors to once again buy into commodities. The early gains more than offset Friday's loss for front-month December crude, which fell in the previous session amid demand worries after data showed souring consumer sentiment and a bigger trade deficit. The dollar slipped on Monday as U.S. retail sales rose and traders saw discord over exchange rates among Asian and U.S. leaders as a cue to sell the greenback against free-floating currencies such as the euro. [USD/] The U.S. currency also came under pressure with European shares rising 1 percent and gold hitting a fresh record high, suggesting increased investor risk tolerance. Wall Street opened higher on the retail sales report, with the Dow Jones Industrials Average .DJI, the Standard & Poor's 500 Index .SPX, and the Nasdaq .IXIC showing gains. "The complex has begun the week by pushing back to above the $77 area on the usual support of a renewed weakening in the dollar and a strengthening in the equity markets," said Jim Ritterbusch, president of Ritterbusch & Associates in Galena, Illinois. Sales at U.S. retailers rose more than expected in October as consumers bought more motor vehicles and other goods, but the previous month's figures were revised sharply downward, a government report showed on Monday. [ID:nN16371323] PRICES * On the New York Mercantile Exchange at 9:50 a.m. EST (1450 GMT), December crude CLZ9 was up $1.03, or 1.35 percent, at $77.38, trading from $76.32 to $77.67. On Friday it hit a low of $75.57, the cheapest since prices hit $74.79 on Oct. 15. * In London, January Brent crude LCOFO was up $1.01, or 1.32 percent, at $77.32, trading from $76.57 to $77.59. * NYMEX December RBOB RBZ9 rose 2.83 cents, or 1.48 percent, to $1.9445 a gallon, trading from $1.9150 to $1.9455. * NYMEX December heating oil HOZ9 was up 2.39 cents, or 1.22 percent, at $1.99 a gallon, trading from $1.9631 to $2.00. * The December/December RBOB crack spread <0#RB-CL=R> was at $4.29, after ending at $4.13 on Friday. The December/December heating oil crack spread <0#CL-HO=R> was at $6.20 after ending at $6.23 on Friday. * The spread between the current front month and the five-year forward crude contract CLc61 was at $13.02, based on the December 2014 contract settlement on Friday at $90.40. The spread ended at $14.05 on Friday. TECHNICALS NYMEX crude 10-day/20-day moving average: $78.55/$78.92 Technical support/resistance: NYMEX crude: $76.00$77.50 NYMEX heating oil/$1.9355/$2.0000 NYMEX RBOB: $1.9000/$2.0000 For a full report on technicals, click on [ID:nLG369408] MARKET NEWS * Fuel stocks held by China's top two oil firms fell for the third month in a row in October, showing more evidence of a gradual revival in oil demand in the world's second largest oil-consuming nation. [ID:nPEK182646] * OPEC President Jose Botelho de Vasconcelos said on Monday it was still too early for the oil exporters' group to make a decision on production changes before its December meeting, as the market remained oversupplied. OPEC will next meet in Luanda, Angola, on Dec. 22. [ID:nLG328453] * Current oil prices are the result of financial market gyrations and do not reflect the supply-demand dynamics of the physical market, energy consultant and prize-winning author Daniel Yergin said on Monday on the sidelines of a conference in Singapore. [

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