--Brent crude up as Europe's stock markets, euro rise --Nymex crude down on worries over U.S. economy --U.S. macro data, Fed's "beige book" eyed By Konstantin Rozhnov Of DOW JONES NEWSWIRES LONDON -(Dow Jones)- Crude oil futures were mixed Tuesday, as Brent crude rebounded along with European stock markets and the euro, while Nymex crude remained pressured by worries over the health of the U.S. economy. At 1017 GMT, the October Brent contract on London's ICE futures exchange was up $1, or 0.9%, at $111.08 a barrel. The October contract on the New York Mercantile Exchange was trading down $1.65, or 2% at $84.80 per barrel. Traders are looking at the two benchmarks as separate markets, ignoring the fundamentals, said Amrita Sen, an oil analyst at Barclays Capital. Market participants trade Nymex crude looking at just the U.S. economy, "which is not the right thing to do," she added. The morning rebound in Brent "is likely to be eroded through general bearish market sentiment," as fears persist the European sovereign debt crisis is escalating, said Bjarne Schieldrop, SEB chief commodities analyst. But oil prices could find some support if the U.S. ISM non-manufacturing index, due at 1400 GMT, beats expectation, Schieldrop said. Also, the U.S. Federal Reserve will release its "beige book", a snapshot of the U.S. economy, at 1800 GMT, which could provide further hints on whether the world's largest oil consumer is heading toward recession. U.S. stock markets were closed Monday for the Labor Day holiday, while equity markets around the world tumbled on renewed recession fears, dragging crude prices lower amid worries oil demand could fall as a result of an economic slowdown. Market participants are expected to pay close attention to the U.S. stock markets opening at 1330 GMT. "All eyes will be on the U.S. equity markets to see whether Friday's sell-off is the start of something far nastier, possibly in keeping with September's infamous reputation of being very hard on the bulls," MF Global said in a note. Meanwhile, much of offshore oil production in the Gulf of Mexico remains shut down, as weather conditions are difficult despite tropical storm Lee weakening to a tropical depression. The shutdown has provided some support to oil prices. At 1017 GMT, the ICE's gasoil contract for September delivery was up $2.25, or 0.2%, at $936.25 per metric ton, while Nymex gasoline for October delivery was 392 points lower at $2.8004 per gallon. -By Konstantin Rozhnov, Dow Jones Newswires; +44 207 842 9956; konstantin.rozhnov@dowjones.com (Jenny Gross in London contributed to the article)

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