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RTRS: NYMEX-Crude slips on economic, demand growth worries
 
* Dollar index strength helps pressure oil
* U.S. expected to have debt-limit deal done Tuesday
* U.S. crude stocks seen up last week - poll
* Coming up: API oil data, 4:30 p.m. EDT Tuesday
NEW YORK, Aug 2 (Reuters) - U.S. crude futures fell on Tuesday as
concerns about economic growth and tepid demand for oil remained in focus
even as the United States neared a final agreement on raising its debt
ceiling and lowering its debt growth.
The Senate and President Barack Obama are expected to approve a deal
already passed by the House of Representatives to cut the deficit and lift
the $14.3 trillion debt ceiling enough to last beyond the November 2012
elections, avoiding a debt default. [ID:nN1E770248]
But oil prices remained under pressure after weak manufacturing data
from the United States, Europe and China on Monday reinforced fears that
slowing economic growth threatens to dampen oil demand.
The dollar index .DXY, measuring the greenback against a basket of
currencies, strengthened as the euro weakened on concerns about euro zone
sovereign debt problems.
Tropical Storm Emily, located about 265 miles (425 km) southeast of San
Juan, Puerto Rico, has slowed down as it moves west, the U.S. National
Hurricane Center (NHC) said. [ID:nL3E7J22OB]
"A turn toward the west-northwest and a gradual decrease in forward
speed are expected during the next 48 hours," the NHC said.
U.S. crude inventories were expected to have increased last week,
according to a Reuters survey of analysts on Monday. Distillate stocks were
forecast to be up and gasoline stocks unchanged. [EIA/S]
FUNDAMENTALS
* On the New York Mercantile Exchange, September crude CLU1 fell 54
cents, or 0.6 percent, to $94.35 a barrel by 8:51 a.m. EDT (1251 GMT),
trading from $93.75 to $95.45.
* Russia produced 10.26 million barrels per day of crude oil in July,
matching May's post-Soviet high and retaining the title of top producer.
[ID:nLDE7710BO]
* China's crude throughput is likely to grow 8.5 percent to 9.2 million
barrels per day this year, the industry ministry said, indicating refinery
production is expected to accelerate in the second half of the year from
the first. [ID:nL3E7J20NG]
* Japan's Cosmo Oil Co (5007.T) said it aims to resume partial
operations at its quake-hit Chiba refinery as early as autumn, with the
restart of a crude distillation unit (CDU) expected by year-end.
[ID:nL3E7J20UQ]
* Euro zone producer prices were flat on the month in June, with
economists having expected a 0.1 percent rise after May's 0.2 percent
fall.
* U.S. personal income rose less than expected in June and was down
from May, while personal spending fell and was down versus May.
[ID:nCLA2JE70V]
* The death toll in Syria's violent crackdown on opposition to
President Bashar al-Assad in the city of Hama and elsewhere climbed on
Tuesday, spurring Western efforts to pile diplomatic pressure on Damascus.
[ID:nL6E7J200C]
MARKETS NEWS
* Wall Street equity futures were lower as a last-minute congressional
deal to raise the U.S. debt ceiling failed to ease worries about a possible
U.S. credit downgrade as questions lingered over the economy's strength.
[.N]
* World stocks hit a two-week low as markets' focus returned to weak
global growth prospects and the euro zone's debt troubles after the U.S.
House of Representatives passage of a $2.1 trillion deficit cutting plan
that also would raise the nation's debt limit and prevent default.
[MKTS/GLOB]
* Gold traded near record highs after the last-minute deal to avoid an
unprecedented U.S. debt default and the first bullion purchase by Korea in
13 years. [GOL/]
UPCOMING DATA/EVENTS
* Weekly oil inventory data from the American Petroleum Institute is
due at 4:30 p.m. EDT (2030 GMT) Tuesday.
* U.S. Energy Information Administration oil inventory data is due at
10:30 a.m. EDT (1430 GMT) on Wednesday.
* U.S. Energy Information Administration natural gas storage data is
due at 10:30 a.m. EDT (1430 GMT) on Thursday.
8:51 LAST NET PCT LOW HIGH CURRENT DAY AGO
CHNG CHNG VOL VOL
CLc1 94.35 -0.54 -0.6% 93.75 95.45 43,211 284,385
CLc2 94.77 -0.56 -0.6% 94.20 95.85 6,888 52,297
LCOc1 116.38 -0.43 -0.4% 115.53 117.01 51,761 247,669
RBc1 3.0399 -0.0138 -0.5% 3.0265 3.0567 2,186 27,763
RBc2 2.9055 -0.0140 -0.5% 2.8889 2.9163 1,413 47,536
HOc1 3.0835 -0.0139 -0.5% 3.0643 3.1027 3,388 23,335
HOc2 3.0975 -0.0127 -0.4% 3.0774 3.1132 999 65,483
* NYMEX crude oil for September CLc1 fell 54 cents to $94.35 a barrel by
8:51 a.m. in volume of 43,211 lots.
(Reporting by Robert Gibbons; Editing by John Picinich)
Source