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NYMEX-U.S. crude holds above $103 on gasoline demand, Ukraine

SEOUL, April 10 (Reuters) - U.S. crude futures edged down in early Asian trade on Thursday after surging more than $1 in the previous session due to an unexpected spike in gasoline demand and tensions over Ukraine.

FUNDAMENTALS

* U.S. oil fell 23 cents to $103.37 a barrel as of 0001 GMT after settling $1.04 higher at $103.60 per barrel on the previous session.

Brent crude shed 14 cents at $107.84 a barrel after ending 31 cents higher at $107.98 a barrel.

* U.S. crude oil stocks rose more than expected last week and Gulf Coast inventories hit a fresh record as oil production boomed and the unblocking of a crucial waterway added supplies, Energy Information Administration data showed on Wednesday.

* Gasoline stocks fell by 5.2 million barrels to 210 million barrels, more than the expected 729,000-barrel draw. Demand for gasoline was 4.4 percent higher than a year ago at 8.8 million barrels per day (bpd).

* Ongoing tensions over Ukraine, a major route of Russian gas for Europe, continue to lend support to oil markets.

* U.S. expectations for talks next week with Russia on the crisis next week are not high, the top U.S. diplomat for Europe said on Wednesday, but it is essential to make every effort to ease tensions.

* Australian Treasurer Joe Hockey said on Thursday Russia would take part in the G20 Summit in Brisbane later this year, laying to rest questions Russia might be barred from attending over Moscow's annexation of the Ukrainian territory of Crimea.

MARKETS NEWS

* Global equity markets advanced and the dollar retreated on Wednesday after minutes from the Federal Reserve's latest policy meeting suggested the U.S. central bank may not raise interest rates anytime soon.

DATA/EVENTS

* The following data is expected on Thursday: (Time in GMT)

DATA AHEAD (GMT)

0200 China Trade data March

0645 France Industrial output Feb

1230 U.S. Import prices March

1230 U.S. Export prices March

1230 U.S. Weekly jobless claims

1800 U.S. Federal budget March

(Reporting by Meeyoung Cho; Editing by Richard Pullin)