OIL-barrel down to 78.50 U.S. currency by advance DLRS

Oil fell 0.2 percent to about $ 78.50 on Tuesday, with firmness in the dollar on concerns about sovereign risk in Europe, and also forecasts for a rise in stocks of crude and gasoline.
The euro fell to its lowest in nine months and a half against the dollar on Tuesday, pressured by worries over debt problems in Greece.

The market was also on the lookout for the weekly inventory data from the American Petroleum Institute (API, by its initials in English) which will later on Tuesday, followed by the U.S. Government's own numbers on Wednesday.
U.S. crude for April delivery fell 15 cents to $ 78.55 a barrel by 1022 GMT, while London Brent crude fell 7 cents to $ 76.82.

The U.S. oil contract for April touched $ 80.62 a barrel on Monday, a record since 13 January, following the progress of raw materials driven by copper. But prices retreated as the dollar gained 0.65 percent against a basket of currencies.

On Tuesday, the dollar rose 0.41 percent extra.

"The dollar is the main factor, and if it continues to rebound, I expect crude fall further," said Clarence Chu, a trader at Hudson Capital Energy Energy in Singapore.
Oil inventories probably rose U.S. 1.3 million barrels last week amid increased imports, a Reuters poll showed while gasoline stocks would have grown 400,000 barrels.

For its part, the oil minister of United Arab Emirates, Mohammed al-Hamli said Tuesday that oil markets remain well supplied.
He added that prices of between 70 and 80 dollars per barrel was acceptable for producers.

OPEC meets on March 17 and ministers are now suggesting no change in current production quotas.

Oil continues to rise and is traded around the $ s73

U.S. crude l-type WTI traded to $ 72.50 in early trading session. Its value registered a rise of 5% so far this week

Oil prices ranging around $ 72.50 a barrel Thursday after jumping more than 5 percent this week, due to which large U.S. inventories of distillates such as diesel offset the positive outlook in other markets.

U.S. crude fell 14 cents to $ 72.37 a barrel, after starting the week to below $ 70 a barrel.

London Brent futures fell 13 cents to $ 71.54 a barrel.

European stock markets climbed in early trading and the benchmark FTSEurofirst 300 is held above his mark of 1,000 points, while gold touched an 18-month, adding to signs that investors are willing to take more risks.

But analysts said the weak bases neutralize these potentially positive news, because high inventories of distillates could limit any gains during the period of maximum heating demand.

Data from the Energy Information Administration showed U.S. distillates rose 2.2 million barrels last week, exceeding by far the increase expected by analysts of 1.3 million barrels.

And while crude oil inventories fell more than expected last week, analysts said this was due to higher refinery utilization rates rather than a genuine increase in demand.

"Currently we see no physical tightness and even an imminent appearance of a deficit supply / demand to help the market to rise," said Citi analyst Timothy Evans in a research note.

OIL-Barrel DLRS falls to 68 per dollar, position limits

Oil fell on Monday to $ 68 a barrel after the decision of a major U.S. stock exchanges to set limits on long positions increased uncertainty.

U.S. crude for October fell 59 cents to $ 68.70 at 1243 GMT after touching a low of $ 68.02. Brent crude was at $ 67.5.

The Chicago Mercantile Exchange on Friday pledged to enforce the current limits of positions in the New York Mercantile Exchange in the plaza and other financial markets since Sept. 14.

Operators are on position limits could face fines or could be found guilty of price manipulation, unless they obtain a waiver, according to a notification of the Chicago Mercantile Exchange.

Oil fell nearly 4 percent on Friday, towards $ 69 a barrel, giving most of the week's gains after U.S. stocks fell after a five-day rally, raising questions about the sustainability of its recent recovery and the strength of the U.S. economic recovery.