U.S. crude oil futures edged up on Tuesday, having approached $41 a barrel and retested lows just below $40 in seesaw trading as the market wrestled with the slowed economy's effect on demand even as OPEC producers work to curb output and cut into inventories. "The resultant psychology from all this grim intelligence should invariably produce a perception that impedes buying," Mike Fitzpatrick, vice president at MF Global in New York, wrote in a research note. He was referring to recent slides in consumer sentiment, dismal retail sales, jobs data and other grim economic news. A threatened oil workers strike in Nigeria and the continuing possibility of work stoppages in the United States and United Kingdom remained supportive factors, traders said. PRICES On the New York Mercantile Exchange at 9:48 a.m. EST (1448 GMT), March crude CLH9 was up 18 cents, or 0.45 percent, at $40.26 per barrel, trading from $39.65 to $40.87. * In London, March Brent LC0H9 was up 45 cents, or 1.03 percent, at $44.27 a barrel, trading from $43.84 to $44.92. * NYMEX March heating oil HOH9 was down only 0.09 cent, or 0.07 percent, to $1.3415 a gallon, trading from $1.3135 to $1.36. * NYMEX March RBOB RBH9 fell 1.72 cents, or 1.5 percent, to $1.1320 a gallon, trading from $1.1205 to $1.1705. * The March/March RBOB crack spread <0#RB-CL=R> was at $7.29. It ended Monday at $8.19. The March/March heating oil crack spread <0#CL-HO=R> was at $16.11. It ended Monday at $16.30. * The spread between the current front month and the five-year forward crude contract CLc61 was at $26.11 based on Monday's March 2014 contract settlement at $66.37. The spread ended at $26.29 on Monday. TECHNICALS NYMEX crude 10-day/20-day moving average: $42.65/$41.18 Technical support/resistance: NYMEX crude: $37.50/$43.40 NYMEX heating oil: $1.29/1.42 NYMEX RBOB: $1.09/1.25 For a report on technicals, click [ID;nL3496265] MARKET NEWS * Nigeria's senior oil workers' union has threatened an indefinite strike from next Monday unless the government takes urgent steps to improve security in the Niger Delta after a surge in violent crime. [ID:nL362599] * OPEC in January met only two-thirds of its pledge to lower oil output, according to a Reuters survey. Eleven target-bound members pumped 26.23 million barrels per day, down from December's 27.24 million bpd but above the Jan. 1 24.84 million bpd target, a Reuters survey found. [ID:nL368274] * OPEC'S president told Reuters on Tuesday the group was close to meeting its 4.2 million bpd output cut target and could act further if needed. [ID:nL3601699] * Contract talks for 24,000 U.S. refinery, chemical plant and pipeline workers were "making good progress," a United Steelworkers union spokeswoman said Monday. [ID:nN02450168] * Ahead of weekly industry and government petroleum inventory data, a Reuters poll of analysts on Monday called for a build of 2.5 million barrels in crude oil stocks for the week to Jan. 30. The poll also forecast a drawdown in distillates and a rise in gasoline stocks. [EIA/S] * The euro inched higher against the dollar and the yen after a Japanese stimulus plan briefly lifted sentiment, but investors remained wary of taking on risk. [USD/] * World stocks up on Tuesday as Japan and Australia stepped up efforts to boost ailing economies. [MKTS/GLOB] (Reporting by Robert Gibbons; Editing by John Picinich)

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