UPDATE 9-Oil rises on more Fed stimulus, Motiva refinery fire
* U.S. Federal Reserve says will ramp up stimulus
* Motiva crude unit in Texas refinery shut by fire-sources
* OPEC retains 30 million bpd output target
(Recasts with updated prices, market activity; changes dateline, pvs LONDON)
NEW YORK, Dec 12 (Reuters) - Oil prices rose sharply on Wednesday, with Brent crude pushing above $110 a barrel, boosted by U.S. Federal Reserve plans for more monetary stimulus and a Texas refinery fire that lifted refined products futures.
Analysts said riskier assets such as oil and equities were boosted and the U.S. dollar pressured, by anticipation of, and the announcement by the Fed that it will ramp up its stimulus to the economy.
U.S. heating oil and gasoline futures received a lift from news that Motiva's Port Arthur, Texas, refinery, the U.S. largest, aborted a restart of its 350,000 barrel per day (bpd) crude unit after a fractured pipe caused a fire overnight.
The Fed's actions, the refinery news and continued Middle East turmoil limited the bearish price reaction to the U.S. government's weekly inventory report showing crude oil stockpiles rose last week, against a forecast stocks would be lower.
Brent January crude rose $2.27 to $110.28 a barrel by 1 p.m. EST (18 00 GMT), having swung from $108.14 to $110.50.
The Brent January contract expires on Friday and with three weeks of trading left in 2012, front-month Brent prices need to finish above $107.38 to post a gain for 2012.
January Brent's premium to February Brent <LCO-1=R> reached $1.73 a barrel intraday on Wednesday and Brent's premium to U.S. crude <CL-LCO1=R> also increased, moving above $23 a barrel during the session.
U.S. crude was up $1.56 at $87.35 a barrel, having reached $87.68. U.S. crude remained on track to end the year off around 11 percent from its 2011 close at $98.83.
OPEC OUTPUT TARGET UNCHANGED
Central bank stimulus and refinery problems countered any price pressure that would be expected from the Organization of the Petroleum Exporting Countries' agreement to hold its output target steady despite forecasts for sluggish demand in the first half of 2013.
Differences between Saudi Arabia and Iraq about Iraqi production being included in the next OPEC production cut agreement surfaced, but did not prevent an agreement on Wednesday's meeting of oil ministers.
U.S. OIL INVENTORIES
Crude oil stockpiles rose 843,000 barrels in the week to Dec. 7, the U.S. Energy Information Administration said in a report on Wednesday. An inventory slide of 2.3 million barrels was forecast in a Reuters survey of analysts.
Distillate stockpiles, which include heating oil and diesel, gained 2.99 million barrels, the EIA said, compared with expectations stocks would be up 1.4 million barrels.
Gasoline inventories rose 5 million barrels, against a forecast for a build of 2.2 million barrels.
"The report is uniformly bearish with the large refined product inventory increases, along with the rise in crude oil storage," said John Kilduff, partner at Again Capital LLC in New York.
(Reporting by Robert Gibbons; additional reporting by Florence Tan in Singapore and Claire Milhench and Shadia Nasralla in London; Editing by Marguerita Choy)