SEOUL, April 19 (Reuters) - U.S. crude futures extended
losses in early Asian trade on Tuesday after credit rating
agency S&P lowered its U.S. outlook to negative and OPEC
ministers said high crude prices could weigh on consumer
economies.
FUNDAMENTALS
* NYMEX crude for May delivery <CLc1>, which expires on
Tuesday, was down 6 cents at $107.06 a barrel by 0035 GMT, after
settling down $2.54 at $107.12 a day earlier.
* Brent crude for June <LCOc1> fell 1 cent to $121.60 a
barrel versus a $121.61 settlement in the previous session.
* Standard & Poor's move -- changing its outlook on the U.S.
rating to negative from stable -- pushed President Barack Obama
and Republicans to agree on ways to slash the deficit or face
the potential loss of Washington's coveted triple-A credit
rating.[]
* OPEC ministers said on Monday costly oil could place a
major strain on consumer countries with fragile economies. The
comment followed leading OPEC member Saudi Arabia's confirmation
on Sunday that the kingdom had cut output by more than 800,000
barrels per day in March because of weak demand. []
* U.S. Energy Secretary Steven Chu on Monday said oil
refiners were adequately supplied despite the recent surge in
crude prices that has raised concerns about the economic
recovery. []
* Thousands demanded the overthrow of President Bashar
al-Assad on Monday at the funerals of 17 protesters killed in
the Syrian city of Homs as pro-democracy protests intensified
despite a promise to lift emergency law. []
MARKETS NEWS
* The euro nursed heavy losses early in Asia on Tuesday
while the yen gained across the board as worries about sovereign
debt problems in Europe and the United States prompted investors
to unwind carry trades.
* A threat by S&P to cut its AAA rating of U.S. government
debt and renewed worries about Europe's debt crisis spurred a
sell-off in major world stock markets on Monday. Equities ended
off their lows in a heavily traded session, though the decline
still amounted to the largest in a month.
The Dow Jones industrial average dropped 1.14 percent
to end at 12,201.59. The S&P's 500 Index fell 1.10
percent to finish at 1,305.14. The Nasdaq Composite Index
slid 1.06 percent to close at 2,735.38.
DATA/EVENTS (GMT)
* N/A - Sweden Central Bank meeting on monetary policy
* 0658 - France flash manufacturing PMI for April
* 0728 - Germany flash manufacturing PMI for April
* 0758 - Euro zone flash manufacturing PMI for April
* 0800 - Euro zone Feb current account, net investment flow
* 1145 - ICSC/Goldman Sachs weekly U.S. chain store sales
* 1230 - U.S. housing starts/building permits for March
* 1255 - Redbook weekly U.S. retail sales
* 2030 - API's weekly national petroleum report
* 2250 - Japan March trade data
RECENT CRUDE OIL TRADES
Asia... Europe... Americas...
CRUDE OIL MARKET NEWS
Crude oil tenders in Asia........................
Crude oil supply outages in Asia............
Refinery outages in Asia....................
Global arbitrage news and flows.................
W.African crude imports to Asia, monthly........
REFINERY MAINTENANCE DIARIES
Asia... Middle East... Europe...
NATIONAL CRUDE IMPORT DATA
Japan..............
China..............
India..............
S.Korea............
Indonesia.......
CRUDE OIL INVENTORY DATA
Japan... US... Europe...
CRUDE OIL PRODUCTION/OILFIELD NEWS
OPEC output survey... New Asian fields.
New projects......
CRUDE OIL MARKET REPORTS
Middle East........... Asia-Pacific........
West Africa......... North Sea............
Asia outlook....... Europe outlook.....
Global futures report... Technicals report......
PRICES
For all Official Selling Prices......................
For a POLL on oil prices............................
NYMEX and ICE oil futures...........................
TOCOM crude oil futures.............................<0#JCO:>
Dubai, Oman swaps and spread...............
Middle East physical crude diffs...............
Australia physical crude, Tapis swaps..........
Asia-Pacific physical crude....................
All Asian crude oil differentials................<0#C-DIF-A>
All Asian crude oil outright prices..................<0#C-A>
(Reporting by Cho Mee-young;Editing by Clarence Fernandez)
