NYMEX-Crude rises on Mideast clashes, eyeing data

* Clashes in Bahrain, Yemen continue, lift oil

 * Japan nuclear struggle keeps markets on edge

 * Coming up: EIA oil data at 10:30 a.m. EDT Wednesday

 NEW YORK, March 16 (Reuters) - U.S. crude oil futures rebounded on
Wednesday as Middle East unrest and violent clashes in Bahrain and Yemen
kept concerns about supply in focus.

 Libya's conflict also continued, with forces loyal to Muammar Gaddafi
pressing their advance on rebel strongholds.

 Investors awaited government oil inventory data on U.S. stockpiles,
after an industry report late Tuesday showed crude oil stocks rose last
week, but by less than expected.

 U.S. crude stockpiles rose 91,000 barrels last week, industry group
American Petroleum Institute said. [API/S]

 Distillate stocks rose unexpectedly, by 531,000 barrels, and gasoline
stocks fell 458,000 barrels, API said.

 Analysts surveyed by Reuters ahead of the report had forecast crude
stocks would be up 1.3 million barrels, with distillate stocks down 1.3
million and gasoline down 1.8 million barrels. [ID:nN15287595]

 U.S. Energy Information Administration data will be released Wednesday
at 10:30 a.m. EDT (1530 GMT).

 FUNDAMENTALS

 * On the New York Mercantile Exchange, April crude CLJ1 rose $1.74,
or 1.8 percent, to $98.92 a barrel at 8:22 a.m. EDT (1322 GMT), trading
from $96.22 to $99.24.

 * Bahraini forces fired tear gas in a crackdown on protesters, clearing
hundreds from a camp that had become the symbol of an uprising by the
island's Shi'ite Muslim majority. [ID:nLDE72F02J]

 * At least 120 were wounded as police and government loyalists tried to
break up a rally in western Yemen demanding an end to President Ali
Abdullah Saleh's 32-year rule, a doctor said. [ID:nLDE72F0ZN]

 * Syrian security forces wielding batons dispersed 150 demonstrators
who had gathered in central Damascus in the most serious protest to hit
Syria since uprisings swept through the Arab world. [ID:nLDE72F12M]

 * Japan's nuclear crisis appeared to be spinning out of control after
workers withdrew briefly from a stricken power plant because of surging
radiation levels and a helicopter failed to drop water on the most troubled
reactor. [ID:nL3E7EF450]

 * The Libyan army shelled a rebel-held city and closed in on Benghazi
as diplomatic steps to stop Muammar Gaddafi from crushing the rebellion
stalled. [ID:nLDE72F00F]

 * OPEC could meet to assess the crude demand and supply situation after
the crisis in Japan, Nigeria's foreign minister said, though the group's
Gulf members have said there was no need to meet before June.
[ID:nSGE72F03N]

 MARKETS

 * U.S. stock index futures fell in volatile trade as Japan struggled
with a nuclear crisis and as clashes in Bahrain lifted oil prices, with
uncertainty set to drive near-term trading. [.N]

 * Gold firmed in Europe as investors took advantage of the previous
day's 2 percent price drop to buy the metal, and as the extreme risk
aversion that prompted a flight to liquidity on Tuesday eased. [GOL/]

 * Japanese stock shares bounced back, lifting equities elsewhere. The
yen slipped though losses were expected to be limited. [MKTS/GLOB] [FRX/]

 UPCOMING DATA/EVENTS

 * U.S. Labor Department releases February Producer Price Index. 8:30
a.m. EDT (1230 GMT). Economists in a Reuters survey forecast PPI up 0.7
percent after January's 0.8 percent gain.

 * U.S. Commerce Department releases housing starts and permits for
February. Economists forecast an annualized rate of 570,000 for starters
and the same number of permits.

 * U.S. Energy Information Administration's weekly petroleum stocks
data, 10:30 a.m. EDT (1430 GMT) Wednesday.
8:22     LAST     NET    PCT     LOW    HIGH  CURRENT  DAY AGO

              CHNG   CHNG                      VOL      VOL
CLc1    98.92    1.74   1.8%   96.22   99.24   45,650  289,434
CLc2    99.76    1.78   1.8%   97.02  100.09   26,773  121,915
LCOc1  110.48    1.96   1.8%  107.35  111.09   12,768  101,153
RBc1   2.8404  0.0375   1.3%  2.7730  2.8443    2,869   39,795
RBc2   2.8450  0.0383   1.4%  2.7800  2.8500    2,766   25,890
HOc1   2.9976  0.0438   1.5%  2.9200   3.008    5,341   56,125
HOc2   3.0031  0.0423   1.4%  2.9300  3.0141    4,053   31,276
 * NYMEX crude oil for April CLc1 rose $1.74 to $98.92 a barrel by 8:22
a.m. in volume of 45,650 lots.

(Source: http://www.reuters.com/article/2011/03/16/markets-energy-nymex-idUSN1630360120110316)