NYMEX-Oil slips on worries over China demand
SINGAPORE, July 15 (Reuters) - U.S. crude futures slipped in early Asian trade on Monday on concerns over demand as GDP growth in the world's No.2 oil consumer China is expected to have slowed further in the second quarter. U.S. crude had slipped 18 cents to $105.82 a barrel by 2326 GMT, while Brent fell 1 cent to $108.80. U.S. oil settled up $1.04 on Friday and Brent ended $1.08 higher. Oil had rebounded on Friday, led by the biggest surge in gasoline futures this year as a string of refinery outages stoked concerns about fuel supplies in the heart of the U.S. summer driving season.
* Data on Monday is expected to show China's GDP growth slowed in April-June as weak overseas demand weighed on output and investment, providing a test for Beijing's resolve to revamp the world's second-biggest economy.
* The wide divergence of opinion within the U.S. Federal Reserve over when to wind down its unprecedented support for the U.S. economy was on full display on Friday, starkly illustrating Chairman Ben Bernanke's leadership challenge for the rest of this year.
* South Korea imported 565,444 tonnes of crude oil, 138,000 barrels per day (bpd), from Iran in June, down 23 percent from a year ago, preliminary data from the Korea Customs Service showed on Monday.
* Israeli Prime Minister Benjamin Netanyahu said on Sunday that Iran was getting closer to the "red line" he set for its nuclear programme and warned the international community not to be distracted by the crises in Syria and Egypt.
* The U.S. dollar was marking time early Monday as investors tensed for the economic data from China that could well set the near term course for Asian currencies and the Australian dollar.
* U.S. stocks advanced on Friday, supported by banks' strong earnings, but Boeing limited the Dow's gain after an airplane fire in London.
* The following data is expected on Monday:
- 0200 China GDP yy Apr - 0200 China Industrial output yy Jun - 0200 China Retail sales yy Jun - 0200 China Urban investment (ytd)yy Jun - 1230 U.S. Retail sales mm Dec - 1400 U.S. Business inventories mm Dec
(Reporting by Manash Goswami; Editing by Joseph Radford)