NYMEX-Crude drops as supply rise, home sales weigh

 NEW YORK, Sept 24 (Reuters) - U.S. crude oil futures fell
sharply on Thursday, weighed down by rising U.S. inventories,
tepid demand and a slump in existing home sales.

 "(Oil) broke under $68 and triggered some sell stops," said
Tom Bentz, analyst at BNP Paribas Commodity Futures Inc in New
York.

 Wall Street equities turned negative on Thursday when the
National Association of Realtors said sales of previously owned
U.S. homes unexpectedly fell in August. [ID:nN24343088] [.N]

 Wednesday's U.S. Energy Information Administration's
inventory report showed crude stocks rose 2.8 million barrels
in the week to Sept. 18, against a forecast draw down. [EIA/S]

 Distillate stocks rose 3.0 million barrels to 170.8 million
barrels, more than forecast and the highest level since the
week to Jan. 14, 1983, the EIA said.

 Gasoline supplies also soared, jumping 5.4 million barrels,
much more than forecast.

 The EIA said on Thursday that natural gas storage rose 67
billion cubic feet last week, just below the forecast for a 68
bcf build in a Reuters poll of analysts. [ID:nEIA000826]

 PRICES

 * On the New York Mercantile Exchange at 10:40 a.m EDT
(1440 GMT), front-month November crude CLX9 was down $2.76,
or 4 percent, at $66.21 a barrel. Ranged from $68.77 to a
intraday low of $65.79, the weakest since $65.23 on Aug. 17.

 * In London, November Brent crude LCOX9 fell $2.79, or
4.1 percent, to $65.20 a barrel, trading from $64.97 to
$67.98.

 * NYMEX October RBOB RBV9 fell 7.59 cents, or 4.45
percent, to $1.6290 a gallon, trading from $1.62, lowest since
$1.6010 on July 13, to an intraday high of $1.70.

 * NYMEX October heating oil HOV9 fell 6.84 cents, or 3.89
percent, to $1.6910 a gallon, trading from $1.6866, lowest
since $1.6601 on July 30, to an intraday high of $1.7574.

 * The November/November RBOB crack spread <0#rb-cl=r> was
at $2.93, after ending at $3.32 on Wednesday. The
November/November heating oil crack spread <0#cl-ho=r> was at
$6.17, after ending at $6.23 on Wednesday.

 * The spread between the current front month and the
five-year forward crude contract CLc61 was at $16.55, based
on the November 2014 contract Wednesday settlement at $82.76.
The spread ended Wednesday at $13.79.

 MARKET NEWS

 * The number of U.S. workers filing new claims for jobless
benefits unexpectedly fell last week. Continued claims also
fell more than expected. [ID:nN23268507]

 * World equities slipped from the previous day's 11-month
high on Thursday as caution ahead of the Group of 20 summit
prompted investors to cut back on risky assets. [MKTS/GLOB]

 * Japan's crude imports fell more than 10 percent in August
from a year ago, the lowest for August since 1989.
[ID:nT19559]

 * U.S. copper futures tumbled to a five-week low after the
existing home sales data. [ID:nN24373768]

 * Nigeria's foreign minister said a government amnesty in
the Niger Delta was working, noting oil output was set to rise
as a cease-fire holds. [ID:nN23424136]

 * Nigeria has raised its official selling price for October
Bonny Light BFO-BON crude oil to dated Brent plus $1.65 a
barrel, up from dated plus $1.35 in September, a Nigerian
National Petroleum Corporation document said. [ID:nLO285616]

 * About 250,000 barrels per day of refined fuel are
smuggled out of Iran, a senior official said. [ID:nDAH434022]

 * An exiled Iranian opposition group said it had identified
two previously unknown sites where it said Iran is working on
developing nuclear weapons detonators. [ID:nLO255601]
(Reporting by Robert Gibbons; Editing by Lisa Shumaker)
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