NYMEX-Crude ends down on dollar bounce, storm fade

NEW YORK, Nov 10 (Reuters) - U.S. crude futures ended lower on Tuesday, retreating from an early high above $80 a barrel on the fading threat from tropical weather in the Gulf of Mexico and the dollar's bounce. "Crude pulled back from its highs because the dollar bounced a bit and there was no sizzle after the Ida fizzle," said Andrew Lebow, broker at MF Global in New York. The dollar bounced off a 15-month low on Tuesday and the euro dipped below $1.50 as investors paused to assess whether the global outlook justifies a recent rally in higher-yielding currencies and assets. Companies began restoring Gulf of Mexico operations after Tropical Storm Ida went ashore and was downgraded to a tropical depression. But the U.S. Minerals Management Service said more than 43 percent of oil output and nearly 28 percent of natural gas output remained shut on Tuesday. For a FACTBOX on Tropical Storm Ida's impact on energy operations click on. The American Petroleum Institute will release inventory data on Tuesday at 4:30 p.m. EST (21:30 GMT). U.S. Energy Information Administration data will be delayed to Thursday at 11:00 a.m. EST (1600 GMT) due to a holiday. An expanded Reuters survey on Tuesday yielded a forecast for crude supplies to have risen 600,000 barrels last week, with gasoline stocks unchanged and distillate inventories down 700,000 barrels. PRICES * On the New York Mercantile Exchange, December crude fell 38 cents, or 0.48 percent, to settle at $79.05 a barrel, trading from $77.89 to $80.51. * In London, December Brent crude fell 27 cents to settle at $77.50 a barrel, trading from $76.36 to $78.92. The December Brent contract expires on Friday. * NYMEX December RBOB fell 0.44 cent, or 0.22 percent to settle at $1.9774 a gallon, trading from $1.9480 to $2.0174. * NYMEX December heating oil fell 1.04 cents, or 0.5 percent, to settle at $2.0523 a gallon, trading from $2.0295 to $2.0905. * The December/December RBOB crack spread ended at $4.00, after ending at $3.81 on Monday. The December/December heating oil crack spread ended at $7.15, after ending at $7.20 on Monday. * The spread between the current front-month crude contract and the five-year forward contract ended at $12.39, based on the December 2014 contract Tuesday settlement at $91.44, down 50 cents on the day. The spread ended Monday at $12.51. TECHNICALS NYMEX crude 10-day/20-day moving average: $78.81/$78.97 Technical support/resistance: NYMEX crude: $76.50/$82.00 NYMEX heating oil: $2.06/$2.1289 NYMEX RBOB: $1.9818/$2.09 For a full report on technicals, click on MARKET NEWS * U.S. retail gasoline demand last week rose 2.2 percent from a year ago in the week to Nov. 6, but was down 2.3 percent against the prior week, according to a MasterCard SpendingPulse report. * The EIA raised its expectation for 2010 world oil demand but lowered its expectation for U.S. demand. * Oil products supplies in 16 European countries fell in October as refiners cut back production, allowing crude oil inventories to jump, Euroilstock said. (Reporting by Robert Gibbons) Keywords: MARKETS ENERGY NYMEX ([e-mail]; + 1 646 223 6059; Reuters Messaging: [e-mail]) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.