TOKYO, June 11 (Reuters) - U.S. oil edged higher on Tuesday, supported by a halt in the rise of the U.S. dollar, partly reversing a fall in the previous session due to demand concerns after weak China data.
FUNDAMENTALS
* NYMEX crude for July delivery
* The contract hit a three-week high of $96.39 on Friday, recovering from a one-month low of $91.26 hit on June 3.
* Brent
* The dollar pared recent gains after rising sharply on Monday, bolstered after Standard & Poor's revised higher the U.S. government's sovereign credit outlook. Oil prices tend to move in the opposite direction to the dollar.
* U.S. commercial crude oil stockpiles were expected to have risen last week on higher imports, according to a Reuters poll of five analysts, taken before weekly inventory reports from the American Petroleum Institute (API) and the U.S. Department of Energy's Energy Information Administration (EIA).
* Estimated global reserves of oil in shale rock deposits will boost total world crude resources by 11 percent, a U.S. government report said on Monday, offering a preliminary glimpse of the hydrocarbons that remain untapped across the world.
* OPEC and the International Energy Agency (IEA) will release their monthly global oil demand reports on Tuesday.
* Libya's Marsa El Hariga terminal has been shut for over 20 days, its operator said on Monday, while a worker said Zueitina, a second oil terminal, had also closed because of protests two days earlier.
* Insurgents attacked cities across Iraq on Monday with car bombs, suicide blasts and gun battles that killed more than 70 people in unrest that has deepened fears of a return to civil war.
* If there is an issue at the core of Iran's presidential election next month, it is whether the next president can jump start the economy and ease the deep financial pressures facing the majority of Iranians.
* The United States could decide as early as this week whether to arm Syrian rebels, U.S. officials said on Monday, as Secretary of State John Kerry put off a Middle East trip to attend meetings on the subject.
* The Bank of Japan will consider further steps to curb any future spike in bond yields when it debates policy on Tuesday, with recent market turbulence threatening to derail its radical stimulus plan that relies heavily on boosting confidence to foster growth and end chronic deflation.
MARKETS NEWS
* The yen eased in early Asian trade on Tuesday with investors wary ahead of the outcome of the Bank of Japan policy meeting on the off-chance that it might announce additional easing measures.
* U.S. stocks ended little changed in weak volume on Monday, pausing after the previous session's strong gains and getting only a brief boost when the United States' credit outlook was revised to stable from negative.
DATA/EVENTS
* The following data is expected on Tuesday: (Time in GMT)
1145 U.S. ICSC chain stores yy Weekly
2030 U.S. API weekly crude stocks
2030 U.S. API weekly dist. stocks
2030 U.S. API weekly gasoline stk
(Reporting by Risa Maeda; Editing by Richard Pullin)
((risa.maeda@thomsonreuters.com)(81-3-6441-1856)(Reuters Messaging: risa.maeda.thomsonreuters.com@reuters.net))
((CRUDE OIL TRADES Asia...ACRU/T Europe...CRU/T Americas...CRU/TU CRUDE OIL MARKET NEWS Crude oil tenders in Asia........................CRU/TENDA Crude oil supply outages in Asia............CRU/OUT-ASIA-O Refinery outages in Asia....................REF/OUT-ASIA-O Global arbitrage news and flows.................O/CRUDEARB W.African crude imports to Asia, monthly........O/WAFRICA1 REFINERY MAINTENANCE DIARIES Asia...REF/A Middle East...REF/ME Europe...REF/E NATIONAL CRUDE IMPORT DATA Japan..............METI/JP1 China..............O/CHINA1 India..............O/INDIA2 S.Korea............O/KOREA1 Indonesia.......O/INDO1-CRU CRUDE OIL INVENTORY DATA Japan...O/JAPAN1 US...EIA/S Europe...O/EUROIL1 CRUDE OIL PRODUCTION/OILFIELD NEWS OPEC output survey...OPEC/O New Asian fields...ASIA/NEW New Africa fields...AFR/NEW New Europe fields..NSEA/NEW New Americas fields..AM/NEW New projects.....ENERGY/NEW CRUDE OIL MARKET REPORTS Middle East...........CRU/M Asia-Pacific........CRU/AP West Africa.........CRU/WAF North Sea............CRU/E Asia outlook.......ASIA/CRU Europe outlook.....EUR/CRU Global futures report...O/R Technicals report......O/I PRICES For all Official Selling Prices......................OSP/O For a POLL on oil prices............................O/POLL NYMEX and ICE oil futures...........................OILOIL TOCOM crude oil futures.............................0#JCO: Dubai, Oman swaps and spread...............ASIA/SWAP/CRUDE Middle East physical crude diffs...............CRUDE/ASIA2 Australia physical crude, Tapis swaps..........CRUDE/ASIA1 Asia-Pacific physical crude....................CRUDE/ASIA3 All Asian crude oil differentials................0#C-DIF-A All Asian crude oil outright prices..................0#C-A ))
Keywords: MARKETS ASIA/NYMEX
