-- Crude prices little changed, with eyes on ECB, U.S. Federal Reserve meetings -- If central banks disappoint oil market, prices will fall, analysts say -- API U.S. oil inventories survey in focus later Tuesday By Konstantin Rozhnov LONDON--Crude-oil futures are virtually unchanged Tuesday amid priced-in expectations that the European Central Bank and the U.S. Federal Reserve will introducing new measures to boost the economy, and low trading volumes, analysts said. "This may also be the calm before the storm as the market awaits key macroeconomic data this week coming from tomorrow's Fed results, Thursday's ECB meeting and Friday's U.S. employment figures," JBC Energy said in a note. At 1050 GMT, the front-month September Brent contract on London's ICE futures exchange was 19 cents, or 0.2%, lower at $106.01 per barrel. The front-month September contract on the New York Mercantile Exchange was trading up 16 cents, or 0.2%, at $89.94 per barrel. Many investors expect the ECB and the U.S. Federal Open Market Committee to ease their monetary policies this week as the way to ease the euro-zone sovereign debt crisis and boost the U.S. economy, the world's largest oil consumer. If the central banks disappoint the oil market, Brent prices will head towards the bottom of the $102-$108-per-barrel range in which they have been stuck, said Saxo Bank's head of commodity strategy Ole Hansen. "But I don't think we will see double-digit [Brent prices] any time soon, as there are too many supply risks," he said. Despite the current calmness in the market, situation can change swiftly, analysts said. "It may be quiet now but oil prices stand astride a minefield with the possibility that the Middle East, the euro-zone or both could blow up," PVM said in a note. "The next $10-a-barrel move is in the hands of the eurozone, absence a major development in the Middle East." At 2030 GMT the American Petroleum Institute, an industry body, will publish its weekly U.S. oil inventory survey, which will be followed by the official government data Wednesday. Analysts surveyed by Dow Jones Newswires expect oil inventories to have fallen 1.1 million barrels in the week ended July 27. At 1050 GMT, the ICE's gasoil contract for August delivery was down $2.25, or 0.3%, at $910.75 per metric ton, while Nymex gasoline for August delivery was 102 points, or 0.4%, lower at $2.9266 per gallon. Write to Konstantin Rozhnov at konstantin.rozhnov@dowjones.com

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