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DJI- NEW YORK, Jan 18 (Reuters) - U.S. stocks jumped to their highest since July on Wednesday as the International Monetary Fund sought to help countries hit by the European debt crisis, while forecast-beating earnings from Goldman Sachs dispelled some worries over bank profits.

The stronger-than-expected earnings from Goldman Sachs Group Inc followed disappointing results from Citigroup on Tuesday and JPMorgan Chase & Co last week.

The Dow Jones industrial average <.DJI> rose 96.88 points, or 0.78 percent, to close at 12,578.95. The Standard & Poor's 500 Index <.SPX> added 14.37 points, or 1.11 percent, to 1,308.04. The Nasdaq Composite Index <.IXIC> climbed 41.63 points, or 1.53 percent, to close at 2,769.71.

NYMEX- NEW YORK, Jan 18 (Reuters) - U.S. crude futures edged lower as a weak global demand outlook weighed on oil prices even as news that Hovensa's large refinery in St. Croix will shut next month sent gasoline futures sharply higher and limited
crude losses.

The IEA in its monthly report cut its world oil demand growth forecast for 2012 by 220,000 barrels per day to 1.1 million bpd.

Further downgrades to global GDP estimates will trigger cuts in global oil consumption estimates, the IEA said.

On the New York Mercantile Exchange, February crude fell 12 cents, or 0.12 percent, to settle at $100.59 a barrel, having traded from $99.84 to $102.06.

CBOT- SOYBEANS, Soybean futures on the Chicago Board of Trade showed modest losses by the closing bell on Wednesday, pressured by wetter forecasts for Argentina, but the market pared early declines and traded higher at times on talk of Chinese demand, traders said.

Soy crushing margins in China have turned positive, analysts said, a factor that could stimulate export interest for U.S. soybeans -- at a time when wet weather in parts of central Brazil threatens to slow that country's early soy harvest.

Soy market also underpinned by weaker U.S. dollar, which tends to support dollar-backed grains and oilseeds.

Additional support from uncertainty over soy production prospects in Argentina, and firming cash soy markets in the interior U.S. Midwest.

FCPO- SINGAPORE, Jan 18 (Reuters) - Malaysian crude palm oil futures inched up on Wednesday as expectations that erratic weather in South America and Southeast Asia could limit edible oil supply overshadowed lingering European debt worries. Investors shifted their focus back to Europe ahead of a Portugal debt sale and as Greece resumes its debt restructuring talks.

But prospects of worsening drought in Argentina and wet weather in Malaysia lifted palm oil futures, which are slightly up by 0.2 percent so far this year.

Benchmark April palm oil futures on the Bursa Malaysia Derivatives Exchange rose 0.5 percent to close at 3,180 ringgit ($1022) per tonne. Traded volumes picked up after the midday break to end at 26,861 lots of 25 tonnes each, compared to the usual 25,000 lots.

REGIONAL EQUITIES- BANGKOK, Jan 18 (Reuters) - Indonesian stocks pushed higher on Wednesday, reversing early losses after Moody's upgraded the credit status of Southeast Asia's biggest economy to investment grade, with banks rallying following deposit ratings upgrades by the ratings agency.

Jakarta's Composite Index <.JKSE> edged up 0.6 percent. Among nine Indonesian banks in the Moody's list, PT Bank Mandiri Tbk climbed 2.2 percent and PT Bank Rakyat Indonesia Tbk gained 1.4 percent.

Most other Southeast Asian stock markets were lower as market players took quick profits after Tuesday's rally following above-forecast GDP growth in China.

Singapore <.FTSTI> fell 0.7 percent, Malaysia <.KLSE> eased 0.13 percent and Thai stocks <.SETI> was down 0.5 percent.