* Big forecasters cut oil demand growth estimates
* Crude oil gains on weaker U.S. dollar
* U.S. crude inventories jump 2.52 million barrels - EIA
* Coming up: EIA natural gas data on Thursday
By Jeanine Prezioso
NEW YORK, June 12 (Reuters) - Crude oil prices endedmodestly higher on Wednesday, but gains were capped by lower oildemand growth estimates and ample supplies.
Spot Brent crude oil futures settled 53 cents higherat $103.49 after trading as high as $104.10. The July Brentcontract expires on Thursday. August Brent crude oil futures ended the day at $103.56, up 59 cents.
Front-month U.S. crude oil futures settled 50 centshigher at $95.88.
The International Energy Agency (IEA) said modest economicgrowth was limiting oil demand worldwide, and that somedeveloped economies would see absolute declines in oilconsumption in 2013.
In China, the world's No. 2 oil consumer, "weaker economicgrowth and lower than previously forecast March/Aprilconsumption data" support the view that demand is weakening, theIEA said.
Both OPEC and the U.S. Energy Information Administration(EIA) cut their global oil demand growth forecasts on Tuesday.
Weekly U.S. crude stockpiles rose 2.52 million barrels lastweek, defying expectations of a 700,000 barrel draw, data fromthe EIA showed. The report followed data released by theAmerican Petroleum Institute on Tuesday that crude oil stocksrose 9 million barrels last week.
"I think that overall the U.S. stockpiles indicate there'smore than ample supply of oil," said Gene McGillian, oil analystwith Tradition Energy in Stamford, Connecticut. "The importantthing is how the economies are going to do in the U.S. andChina."
Crude oil prices were drawing some strength from continuedworries over supply disruptions in Libya and Sudan, among otheroil producing nations, traders said.
Sudan officially informed South Sudan on Tuesday that itwould stop allowing its neighbor to export crude through itsterritory within two months.
Libya's oil output has fallen below 1 million barrels perday due to protests at fields and terminals, its state-owned oilcompany said.
"Geopolitical turmoil in oil producing countries, includingIraq, Iran, Syria and Libya, may temper downward momentum in thenear term," the IEA said in its monthly report.
As well, a tightening in global supply coupled with anincrease in refinery runs could support Brent prices.
A weaker U.S. dollar also supported prices on Wednesday. Thedollar index, which tracks the greenback against a basketof six other currencies, fell as low as 80.748, its lowest sinceFeb. 20.
Crude oil is priced in dollars, and when the value of thecurrency drops, oil becomes cheaper for holders of othercurrencies to buy.
The oil market was also keeping its eye on the U.S. stockmarket and whether central bank stimulus measures would belifted.
A Bank of Japan decision not to follow up a $1.4-trillionstimulus program announced in April has rekindled fears thatother central banks, including the U.S. Federal Reserve, couldscale back stimulus efforts.
BP Plc is set to begin production on an upgradedcrude distillation unit at its 405,000 barrel-per-day (bpd)Whiting, Indiana, refinery within seven to 10 days.
Traders have speculated that there may be an increase indemand for WTI relative to Brent since the refinery will likelysource crude domestically rather than pull imports from the GulfCoast.
The spread between global benchmark Brent and U.S. benchmarkWest Texas Intermediate settled at $7.61 per barrel, aftertrading as high as $7.38, its highest level since May 22.
Stocks of gasoline on the U.S. East Coast rose to theirhighest level since February 2012, according to government data. Gasoline futures settled slightly lower at $2.81per gallon.
BP (BP.)
