U.S. crude oil futures were steady below $97 a barrel on Thursday, after six straight sessions of losses, as news that Greece will receive its latest debt bailout payment eased concerns that Europe's woes could affect demand.
FUNDAMENTALS
* On the New York Mercantile Exchange, June crude slipped 3 cents to $96.77 a barrel by 0050 GMT, after settling down 20 cents to $96.81 on Wednesday.
* The board of the European Financial Stability Facility agreed on Wednesday to make a payment of 5.2 billion euros in emergency aid to Greece, overcoming opposition from some euro zone member states.
* U.S. crude oil inventories rose 3.65 million barrels last week, the Energy Information Administration said in its weekly report, more than analyst expectations.
* But the inventory boost in the EIA data was much less than rise of 7.8 million barrels reported by the American Petroleum Institute on Tuesday.
* Saudi Oil Minister Ali al-Naimi said on Wednesday oil markets would remain well supplied even after fresh international sanctions against Irantake effect, as global crude oversupply is already as much as 1.5 million barrels per day (bpd).
* Iran has authorized private Iranian exporters to sell up to 20 percent of its crude exports in a move intended to help skirt international sanctions, the head of the traders' union said.
* Greece moved closer to a second snap election when the head of the biggest party launched a new attack on leftist Alexis Tsipras, saying his plans for a new government would push the country out of the euro zone.
* China will cut gasoline and diesel prices by about 3 percent from Thursday in response to declines in crude oil prices, although the moderate cut is expected to be unlikely to be sufficient to stimulate demand much.
MARKETS NEWS
* The euro wallowed near a 3 1/2-month low against the dollar on Thursday as political deadlock in Greece threatens its rescue deal and raises the spectre of the country leaving the euro zone.
* Japan's Nikkei share average opened down 0.4 percent, after hitting its lowest in nearly three months the previous day.
* Major U.S. equity indexes tumbled as Wall Street fell to a two-month low over new questions about Europe's ability to fend off a deeper crisis in the debt-stricken region.
DATA/EVENTS
* The following data is expected on Thursday:
China Exports April
China Imports April
China Trade balance April
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