NYMEX-Crude slides on dollar rise, economy worry

* Dollar stronger against the euro

* New York manufacturing slump deepens-NY Fed

NEW YORK, June 15 (Reuters) - U.S. crude oil futures fell
on Monday on a stronger dollar and concerns about the economy
and its recovery.

"The dollar started the early rout for crude futures,
followed by the Fed's report of weaker New York state business
conditions," said Phil Flynn, analyst at Alaron Trading in
Chicago.

"And, despite what we are seeing in the aftermath in Iran's
elections, the market has not reacted as there is so much spare
capacity at this point in the oil markets," Flynn added.

The dollar gained broadly as Russia expressed confidence in
the greenback as the world's reserve currency, while concerns
about the euro zone economy undermined the euro. [USD/]

The International Monetary Fund also threw its support
behind the dollar, saying its status as the world's dominant
reserve currency is likely to remain. [ID:nWBT011368].

The slumping factory sector in New York state shrank at a
more severe rate in June than during the previous month, the
New York Federal Reserve said. [ID:nN15768]

Iranian state television said shots were fired during a
mass rally in support of defeated presidential candidate
Mirhossein Mousavi in Tehran and that people were running away.
[ID:nLF84298]

U.S. stocks slid as retreating commodity prices drove a
sell-off in natural resource company shares, while Goldman
Sachs' downgrade of Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research) pulled the
retailer's stock down more than 2.6 percent. [.N]

PRICES

* On the New York Mercantile Exchange, at 12:45 p.m EDT
(1645 GMT), July crude CLN9 was down $2.11, or 2.93 percent,
at $69.93 a barrel, trading from $69.58 to $72.35.

Thursday's $72.68 settlement was the highest since Oct. 20
when crude settled at $74.25. Thursday's $73.23 intraday peak
was highest since Oct. 21, when crude hit $75.69.

* In London, July Brent crude LCON9 was down $1.68, or
2.37 percent, at $69.24 a barrel, trading from $68.56 to
$70.93.

* NYMEX July RBOB RBN9 fell 3.10 cents, or 1.52 percent,
to $2.0121 a gallon, trading from $2.0040 to $2.0545.

* NYMEX July heating oil HON9 fell 4.10 cents, or 2.23
percent, to $1.7965 a gallon, trading from $1.7877 to $1.8481.

* The July/July RBOB crack spread <0#RB-CL=R> was at
$14.57, after ending at $13.77 on Friday. The July/July heating
oil crack spread <0#CL-HO=R> was at $5.53, after ending at
$5.14 on Friday.

* The spread between the current front month and the
five-year forward crude contract CLc61 was at $16.30, based
on the July 2014 contract Friday settlement at $86.23.

TECHNICALS

NYMEX crude 10-day/20-day moving average: $69.74/$66.33

Technical support/resistance:

NYMEX crude: $70.18/$73.23

NYMEX heating oil: $1.80/$1.8750

NYMEX RBOB: $2.0147/$2.0715

For a report on technicals click [ID:nLF509045]

MARKET NEWS

* Oil prices should not rise too quickly and hurt the world
economy, but $80 a barrel would not put a brake on growth,
OPEC's Secretary General told Reuters. [ID:nLF38789]

* Sunoco Inc (SUN.N: Quote, Profile, Research) said that the fluid catalytic cracking
unit at the Girard Point section of its Philadelphia,
Pennsylvania, refinery has been back in operation since
Saturday. [ID:nN15192123]

* Valero Energy Corp (VLO.N: Quote, Profile, Research) said it expects the fire-idled
crude unit at its St. Charles refinery in Norco, Louisiana,
will be down another three weeks. [ID:nN15199745]
(Reporting by Robert Gibbons and Gene Ramos; Editing by
Marguerita Choy)