NYMEX-Crude ends down, worst week in six, on economic fears

* U.S. retail sales, other data fail to soothe markets

* OPEC ups 2010 demand view slightly, leaves 2011 steady

* Coming up: Empire State Aug business index, Monday

NEW YORK, Aug 13 (BestGrowthStock) – U.S. crude oil futures prices
ended lower for a fourth day in a row on Friday and finished
the week with the biggest percentage loss in six weeks, as
fears grew that the slowing economic recovery would further
erode oil demand.

U.S. retail sales rebounded in July but had signs of
lingering economic softness while another indicator, consumer
sentiment, appears to have stabilized so far this month, but
consumers appeared still nervous over the near term, they said.

Yet another set of data, business inventories, showed an
increase, but could not erase economic pessimism, analysts
said. For a full report on the day’s economic data, see
[ID:nN13180040]

In early trading, crude futures rallied $1 on news that
euro zone gross domestic product grew at its fastest pace in
more than three years in the second quarter, boosted by strong
performances in Germany and France. [ID:nLDE67C0YX]

FUNDAMENTALS

* On the New York Mercantile Exchange, September crude
(CLU0: ) settled down 35 cents, or 0.46 percent, at $75.39 a
barrel. For the week, prices fell $5.31, or 6.6 percent, the
worst week for front-month crude since the week to July 2, when
prices finished $6.72 lower, or 8.52 percent.

* In four days, NYMEX September crude slid $6.09, or 7.47
percent, the biggest four-day loss since June 28-July 2, when
when prices fell $6.11, or 7.81 percent.

* NYMEX September RBOB (RBU0: ) ended down for the fourth day
in a row. For the week, it slid 17.31 cents or 8.19 percent,
the steepest weekly loss since the week to July 2, when prices
ended down 19.01 cents or 8.77 pct.

* NYMEX September heating oil (HOU0: ) finished lower for the
fourth consecutive day. For the week, it dropped 15.16 cents,
or 7.06 percent, the worst percentage loss since week to July
2, when front month heating oil ended down 19.67 cents or 9.31
percent.

* ICE September Brent crude (LCOc1: ) ended down for the
fourth day in a row. For the week it fell $5.19, or 6.46
percent, front-month Brent’s biggest weekly drop since the week
to July 2, when prices ended $6.47 lower, 8.38 percent.

* Money managers cut net long NYMEX crude oil positions in
the week to Aug. 10, to 128,902, from 133,664 the week before,
the Commodity Futures Trading Commission said on Friday. They
also cut net long positions in RBOB, heating oil and crude
futures and options, the CFTC data showed. [ID:nN13215779]

* Oil demand will continue to grow slowly in 2011, when
world economic expansion is projected to be slightly lower than
this year, OPEC said in a monthly report. It left unchanged its
forecast of a 1.05 million barrel per day rise in global oil
demand in 2011. [ID:nWLA0846]

* OPEC raised its 2010 forecast for global oil demand, by
100,000 bpd, to 85.50 million bpd.

MARKETS NEWS

* U.S. gold futures ended lower, but posted their second
consecutive week of gains for the first time since June as
weakness in the U.S. jobs market prompted investors to buy the
metal as an alternative asset. [GOL/]

* Copper futures finished lower, suffering their first
weekly loss in four weeks, as economic sentiment soured on a
string of disappointing U.S. economic news. [ID:nLDE67C0QM]

UPCOMING DATA/EVENTS

* Aug. 17: Options on NYMEX Sept crude oil futures expire

* Aug. 17: American Petroleum Institute weekly stocks data

* Aug. 18: Energy Information Administration weekly stocks

* Aug. 20: NYMEX Sept crude oil futures expire

SETTLE NET PCT LOW HIGH CURRENT DAY AGO

CHNG CHNG VOL VOL
CLc1 75.39 -0.35 -0.5% 75.01 76.74 253,953 430,788
CLc2 75.77 -0.38 -0.5% 75.41 77.12 95,812 207,419
LCOc1 75.11 -0.41 -0.5% 74.67 76.43 119,647 170,675
RBc1 1.9396 -0.0152 -0.8% 1.9260 1.9813 34,917 63,595
RBc2 1.8847 -0.0128 -0.7% 1.8750 1.9210 31,102 47,988
HOc1 1.9956 -0.0059 -0.3% 1.9875 2.0281 33,740 73,777
HOc2 2.0242 -0.0084 -0.4% 2.0168 2.0586 16,554 33,129
TOTAL MARKET VOLUME OPEN INTEREST

CURRENT Aug 12 30D AVG Aug 12 NET CHNG
CRUDE 484,446 927,216 567,466 1,293,404 -9,658
RBOB 94,793 148,732 101,882 246,576 4,669
HO 76,624 157,685 98,343 298,715 -3,674
(Reporting by Gene Ramos and Robert Gibbons; editing by Sofina
Mirza-Reid)

NYMEX-Crude ends down, worst week in six, on economic fears