* Global stocks, U.S. stock futures slip, weigh on oil
* NYMEX August crude contract expires on Tuesday
* Coming up: API oil data at 4:30 p.m. EDT Tuesday
NEW YORK, July 20 (Reuters) - U.S. crude oil futures fell on Tuesday,
pressured by weak equities markets that were being pressured by company
earnings reports that were below expectations.
The NYMEX August crude oil contract expiration on Tuesday was expected
to bring some volatility to the price action ahead of the late-Tuesday
report from industry on U.S. oil inventories, expected to show stockpiles
fell last week for a fourth straight week.
FUNDAMENTALS
* On the New York Mercantile Exchange, expiring August crude CLQ0
fell 66 cents to $75.88 a barrel by 8:22 a.m. EDT (1222 GMT), trading from
$75.74 to $77.03.
* U.S. stock index futures were lower on Tuesday after technology
bellwethers International Business Machines and Texas Instruments posted
quarterly revenues that fell shy of expectations. [.N]
* U.S. crude inventories fell 1.0 million barrels last week, a Reuters
preliminary poll ahead of weekly industry and government data showed on
Monday. Distillates and gasoline stockpiles rose, the survey showed.
[EIA/S]
* The chance that a tropical wave near Puerto Rico would strengthen
into a tropical depression increased to 40 percent by early Tuesday as it
moved toward the Gulf of Mexico, the U.S. National Hurricane Center said.
[ID:nN20245086]
* China's diesel exports slumped to about 270,000 tonnes in June, the
lowest volume since January 2009 and less than half the amount exported in
each of the previous two months, data showed on Tuesday. [ID:nTOE66J06A]
ECONOMIC DATA
* U.S. housing starts for June, forecast up 580,000 annualized rate,
and building permits, forecast up 570,000. 8:30 a.m. EDT (1230 GMT)
* American Petroleum Institute weekly crude oil and products inventory
report. Forecast crude down 1 million barrels, gasoline up 1.1 million
barrels, distillates up 1.6 million barrels. 4:30 p.m. EDT
*
OUTSIDE MARKETS
* Gold hovering above $1,180 an ounce but charts remain weak. [GOL/]
* Crude oil little changed near $77 a barrel, supported by expectations
of a drawdown in API's report. [O/R]
* Euro firmer against dollar though below 2-month peak. [FRX/]
* Financial markets juggling optimism for more good earnings against a
slipping dollar on worries over the U.S. economy. [MKTS/GLOB]
8:22 LAST NET PCT LOW HIGH CURRENT DAY AGO
CHNG CHNG VOL VOL
CLc1 75.88 -0.66 -0.9% 75.74 77.03 6,479 225,250
CLc2 76.20 -0.70 -0.9% 76.09 77.39 35,117 160,890
RBc1 2.0506 -0.0084 -0.4% 2.0485 2.0750 1,267 33,539
RBc2 2.0496 -0.0086 -0.4% 2.0475 2.0741 2,127 22,555
HOc1 2.0012 -0.0158 -0.8% 1.9981 2.0293 1,578 35,767
HOc2 2.0267 -0.0146 -0.7% 2.0228 2.0537 1,645 13,825
TECHS LAST MA-30 MA-90 Boll up Boll dn RSI-30 Imp Vol
CLc1 75.88 75.76 78.17 79.36 72.2 49.24 32.7
RBc1 2.0506 2.0600 2.1800 2.1900 1.9700 45.25 33.45
HOc1 2.0012 2.0900 2.0800 2.2000 1.8300 46.18 31.42
* NYMEX crude oil for August CLc1 fell 66 cents to $75.88 a barrel by
8:22 a.m. in volume of 6,479 lots.
