* China sets yuan mid-point stronger than Tuesday close
* Coming Up: EIA U.S. inventory report; 14:30 GMT
* For a technical view, click: [
]By Alejandro Barbajosa
SINGAPORE, June 23 (Reuters) - Oil prices fell for a second day on Wednesday after an industry report showed unexpected gains in U.S. crude and gasoline inventories, while weak U.S. home sales data sent equities lower and dampened risk appetite.
U.S. crude stockpiles rose 3.7 million barrels last week, the American Petroleum Institute (API) said on Tuesday, while gasoline supplies climbed 810,000 barrels. [
]Sales of existing homes in the U.S. fell unexpectedly in May, a report showed on Tuesday, sending global stock markets lower.
Japan's Nikkei average fell 1.6 percent on Wednesday as the positive impact of China's yuan revaluation faded. [
]U.S. crude for August delivery <CLc1> slid 29 cents to $77.56 a barrel at 0237 GMT, after the July contract expired on Thursday. Prices are little changed this week after a jump to almost $79 two days ago following China's weekend decision to increase the flexibility of the yuan's exchange rate.
ICE Brent for August <LCOc1> fell 18 cents to $77.86.
"People continue profit taking after the API stockbuild," said Ken Hasegawa, a commodity derivatives manager at brokerage Newedge in Japan.
"If the stock market is going down, it is a factor to drive the crude market lower. Still we have to see the situation in Europe and the movement of the euro." [
]Investors also awaited Wednesday's conclusion of a two-day U.S. Federal Reserve's Federal Open Market Committee meeting, with a statement due at 1815 GMT, for signs that low interest rates will remain intact. [
]The oil market showed little reaction to the publication of the yuan's trading range mid-point on Wednesday, even after the central bank of China set it slightly stronger than Tuesday's close.
For a link to yuan news and graphics, see: http://r.reuters.com/fuk43m
Government statistics on U.S. oil inventories and demand from the Energy Information Administration will follow on Wednesday at 1430 GMT. [
]U.S. stockpiles of distillates including heating oil and diesel rose 1.1 million barrels last week, the API said, broadly in line with analyst forecasts.
MasterCard's SpendingPulse report said U.S. weekly retail gasoline demand rose 0.4 percent last week versus the previous week. But demand dropped 2.7 percent against the 2009 period and over the previous four weeks, demand was down 0.4 percent versus the same period in 2009. [
]A U.S. judge blocked the Obama administration's six-month ban on deepwater drilling imposed in the wake of BP Plc's <BP.L> Gulf of Mexico oil spill. [
]The White House said it would appeal the judge's ruling, issued in New Orleans after oil companies involved in offshore drilling operations challenged the moratorium. (Editing by Ed Lane)