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RPT-NYMEX-U.S. crude rebounds slightly after crashing 9 percent
February 5, 2015 / 12:32 AM / 3 years ago

RPT-NYMEX-U.S. crude rebounds slightly after crashing 9 percent

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SINGAPORE, Feb 5 (Reuters) - U.S. crude edged up to near $49 a barrel in early Asian trade on Thursday, rebounding slightly after losing 9 percent in one of its biggest daily routs ever as inventories rose to a record high.

FUNDAMENTALS

* U.S. crude for March delivery was trading 34 cents higher at $48.79 a barrel by 0000 GMT. The contract had settled almost 9 percent lower on Wednesday.

* U.S. crude stocks increased by 6.3 million barrels last week, rising for the fourth consecutive week to hit a record high of 413.06 million barrels, data from the Energy Information Administration showed on Wednesday.

* Negotiations continued between Royal Dutch Shell Plc and union leaders over a new wage contract for striking U.S. refinery workers. The two camps have been in a stalemate since walkouts early on Sunday at nine plants with about 10 percent of U.S. refining capacity.

* Gunmen killed 12 people, among them two Filipino and two Ghanaian nationals, after storming a remote, Libyan oilfield, a Libyan official said on Wednesday.

MARKETS NEWS

* The euro slumped late on Wednesday and safe-haven U.S. government bonds rallied after the European Central Bank abruptly cancelled its acceptance of Greek bonds in return for funding. The U.S. dollar index extended its gains and jumped 0.9 percent.

DATA/EVENTS

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

0700 Germany Industrial orders Dec

1330 U.S. Weekly jobless claims

1330 U.S. International trade Dec

1330 U.S. Labor costs Q4

Reporting by Jacob Gronholt-Pedersen; Editing by Joseph Radford

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