NYMEX-US crude steadies above $105; inventory build weighs

Reuters - May 2nd, 2012

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FUNDAMENTALS

* NYMEX crude for June edged up eight cents to $105.30 a barrel by 2350 GMT, after falling nearly a dollar the previous session.

* U.S. crude oil stocks rose 2.84 million barrels last week to 375.86 million barrels, more than forecast, and hitting the highest level since September 1990.

* U.S. private employers added 119,000 jobs in April, far fewer than expected, a report by payrolls processor ADP showed Wednesday.

* Iran said it would seek an end to sanctions over its nuclear activities at talks with big powers later this month and it sought to turn the tables on its Western foes by accusing France of helping Israel develop "inhumane nuclear weapons."

MARKETS NEWS

* The euro wallowed near two-week lows against the greenback on Thursday, having hit the skids overnight on the back of more depressing economic news out of Europe that put the spotlight on the central bank's policy meeting.

* The euro zone's manufacturing sector slipped further into decline last month as a downturn appeared to be taking root among core members France and Germany, a survey showed.

DATA/EVENTS

* The following data is expected on Thursday:

1145 EZ ECB rate decision May

1200 Brazil Industrial output yy Mar

1230 U.S. Jobless claims Weekly

1430 U.S. EIA natural gas stocks Weekly (Reporting by Randy Fabi)

Energy.

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