NYMEX-Crude extends gains to above $92 on Iran worries

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FUNDAMENTALS

* NYMEX crude for November delivery was up 24 cents at $92.09 a barrel by 0017 GMT, after settling up $1.87 at $91.85 on Thursday.

* The contract, which has recovered after hitting a seven-week low of $88.95 on Wednesday, is on course to drop 0.9 percent on the week.

* London Brent crude for November delivery was up 21 cents at $112.22 a barrel, after settling up $1.97. It is on course to post a gain of around 0.7 percent for the week.

* Israeli Prime Minister Benjamin Netanyahu drew his "red line" for Iran's nuclear programme on Thursday despite a U.S. refusal to set an ultimatum, saying Tehran will be on the brink of a nuclear weapon in less than a year.

* The United States expects major powers' consultations on Iran's nuclear program to continue and eventually lead to another round of talks with Tehran, a senior U.S. official said on Thursday.

* Oil was also supported as worries about the euro zone eased somewhat after Spain unveiled a crisis budget based mostly on spending cuts that many saw as a step towards a bailout.

* Wednesday's government data showing U.S. crude and refined product inventories fell last week also supported prices.

MARKETS NEWS

* The S&P 500 snapped a five-day string of declines in a broad-based rally on Thursday, as Spain's plans for economic reform eased some worries about one of the euro zone's most troubled countries.

* The euro held firm on Friday, while commodity currencies started Asian trade sharply higher

DATA/EVENTS

* The following data is expected on Friday: (Time in GMT)

- 0530 France GDP detailed Q2

- 0900 Euro Zone Inflation Sept

- 1230 U.S.

"It is on course to post a gain of around 0.7 percent for the week.* Israeli Prime Minister Benjamin Netanyahu drew his "red line" for Iran's nuclear programme on Thursday despite a U.S"Personal consumption August

- 1345 U.S. Chicago PMI Sept

- 1355 U.S. Univ. of Michigan sentiment final Sept

- 1430 U.S. ECRI weekly index (Reporting by Osamu Tsukimori; Editing by Joseph Radford)

Energy.