NYMEX-Crude ends over 2 pct up on French strikes, dollar

* French strikes affect refineries, fuel, support oil

* Dollar gives up gains against euro, lifts oil

* Coming up: API oil supply data 4:30 p.m. EDT Tuesday

NEW YORK, Oct 18 (BestGrowthStock) – U.S. crude oil futures ended
2.25 percent higher on Monday, the biggest one-day gain in two
weeks, lifted as refined product futures rose on prolonged
strikes in France that have hit shipping and refineries.

In early trading, the dollar’s strength had pressured oil,
but the greenback later gave up gains against the euro (EUR=: )
and a basket of currencies (.DXY: ) adding spring to the oil
price bounce.

FUNDAMENTALS

* On the New York Mercantile Exchange, crude for November
delivery (CLX0: ) rebounded from Friday’s loss and settled $1.83
higher, or 2.25 percent, at $83.08 a barrel, trading from
$80.35 to $83.18. The day’s gain was the highest since
front-month prices rose 2.71 percent on Sept. 30.

* In post-settlement trading, November crude rose further,
hitting $83.28, up $2.03, or 2.5 percent.

* French truck drivers staged go-slow operations on
highways, rail strikes intensified and petrol stations ran out
of fuel on Monday as strikers dug in ahead of a Senatevoe this
week on an unpopular pension overhaul. [ID:nLDE69H0OC]

* France started to tap its emergency fuel reserves as a
growing number of petrol stations began to run dry at the start
of a second week of action by refinery and port strikers to
block supplies. [ID:nLDE69H0CV]

* A spokeswoman at Exxon Mobil Corp (XOM.N: ) said the
company was in the process of declaring force majeure on a
number of French fuel supply contracts to supermarkets.
[ID:nWEA2766]

* A preliminary Reuters poll ahead of weekly industry and
government inventory data forecast that U.S. crude stocks were
up 1.6 million barrels. Distillate and gasoline stocks were
down about 1 million barrels each. [EIA/S]

* OPEC members’ average compliance to the group’s output
targets is 61 percent, OPEC Secretary General Abdullah al-Badri
said on Monday. [ID:nWEA837]

* U.S. industrial production unexpectedly fell in
September, the Federal Reserve said. [ID:nN18110437]

MARKETS NEWS

* The U.S. dollar was little changed against the euro on
Monday, erasing early gains, and under pressure from the
uncertainty arising over the size of further monetary policy
easing from the Federal Reserve. [USD/]

* In late trading the dollar was down 0.11 percent against
a basket of currencies (.DXY: ).

* Gold (AU=: ) was little changed, rebounding from sharp
earlier losses as the dollar weakened. [ID:nLDE69H0U4]

* Copper rose, flirting with 27-month highs as the rally in
the dollar fizzled. [MET/L]

SETTLE NET PCT LOW HIGH CURRENT DAY AGO

CHNG CHNG VOL VOL
CLc1 83.08 1.83 2.3% 80.35 83.28 207,335 345,844
CLc2 83.80 1.87 2.3% 81.01 83.95 264,736 228,253
LCOc1 84.37 1.92 2.3% 81.53 84.50 172,854 222,424
RBc1 2.1515 0.0477 2.3% 2.0900 2.1562 21,209 47,520
RBc2 2.1275 0.0465 2.2% 2.0676 2.1307 26,539 39,180
HOc1 2.2761 0.0453 2.0% 2.2102 2.2815 30,161 57,116
HOc2 2.2953 0.0458 2.0% 2.2292 2.2987 23,428 36,978
TOTAL MARKET VOLUME OPEN INTEREST

CURRENT Oct 15 30D AVG Oct 15 NET CHNG
CRUDE 617,617 754,442 768,583 1,462,622 13,666
RBOB 71,472 114,804 120,000 269,889 2,958
HO 75,519 129,842 117,275 326,228 5,272
(Reporting by Gene Ramos and Robert Gibbons; Editing by David
Gregorio)

NYMEX-Crude ends over 2 pct up on French strikes, dollar