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NYMEX-U.S. oil up 6th day in row, on track for over 5-pct weekly gain

Thursday, 5 Dec 2013 | 7:27 PM ET

TOKYO, Dec 6 (Reuters) - U.S. crude rose for a sixth straight session on Friday, putting it on track for its biggest weekly gain in 5 months after economic data suggested demand could improve in the world's top oil consumer.

FUNDAMENTALS

* U.S. crude for January delivery was up 9 cents at $97.47 a barrel by 0011 GMT - on course for a gain of more than 5 percent for the week, the most since the week to July 5. The contract inched up 18 cents on Thursday.

* The U.S. economy grew faster than initially estimated in the third quarter.

* North Sea oil and gas producers cut production and moved staff from some platforms as hurricane-force Storm Xaver blasted towards mainland Europe on Thursday in what meteorologists warned could be the worst storm to hit the continent in years.

* Seaborne oil exports from OPEC, excluding Angola and Ecuador, will rise by 710,000 barrels per day (bpd) in the four weeks to Dec. 21, an analyst who estimates future shipments said on Thursday.

* Transcanada Corp told shippers on Thursday that its 700,000 barrels-per-day pipeline from Cushing, Oklahoma, to Port Arthur, Texas, will be in service by mid-January, a move expected to reduce a glut of U.S. crude at the storage hub by sending it to the refining centre on the Gulf Coast.

MARKETS NEWS

* Asian markets were heading into another trying session on Friday as speculation builds about an imminent scaling back in U.S. stimulus, with payrolls data looming as make or break for a move this month.

* U.S. stocks fell on Thursday, with the Dow and S&P 500 dropping for a fifth straight session.

* The 19-commodity Thomson Reuters/CoreCommodity CRB index , a benchmark for global commodities markets, edged down 0.1 percent on Thursday.

DATA/EVENTS

* The following data is expected on Friday:

1100 Germany Industrial orders

1330 U.S. Nonfarm payrolls

1330 U.S. Unemployment rate

1330 U.S. Personal income

1455 U.S. Univ of Michigan sentiment index

1900 U.S. Consumer credit

(Reporting by James Topham; Editing by Joseph Radford)