NYMEX-U.S. oil prices edge up, Middle East supports
PERTH, Aug 21 (Reuters) - U.S. crude futures inched up on Wednesday, supported by supply disruptions in Libya, whose export capacity has been slashed in half due to civil unrest.
* NYMEX crude for October delivery rose 12 cents to $105.23 by 0045 GMT.
* U.S. crude oil futures for September delivery, expired $2.14 per barrel lower, or down 2 percent, at $104.96, their largest one-day percentage loss in two months as traders closed out positions and on news of the Seaway pipeline shutdown.
* London Brent crude for October delivery dropped 5 cents to $110.10 a barrel.
* About half of Libya's more than 1.2-million-barrel-per-day export capacity remains shut down due to civil unrest, industry sources said.
* U.S. commercial crude inventories likely fell last week by 1.4 million barrels, an initial poll of Reuters analysts showed ahead of the release of weekly data.
* U.S. crude stocks fell last week as refineries boosted output, while gasoline inventories declined and distillate stocks built, data from industry group the American Petroleum Institute showed on Tuesday.
* U.S. oil is expected to retest support at $104.49 per barrel, with a good chance of breaking this level and falling further to $103.62.
* The U.S. Seaway pipeline, which carries crude oil from Cushing, Oklahoma, the delivery point for the futures' benchmark West Texas Intermediate (WTI) crude, to refineries on the Gulf Coast, shut down on Tuesday.
* The Fed will release minutes of its latest policy meeting on Wednesday. The minutes are largely expected to give clues on when the central bank plans to taper its monthly $85 billion in asset purchases that have supported commodities in recent years.
* The dollar took back some lost ground against the yen but remained near a half-year low against the euro in early Asian trade on Wednesday, as investors awaited minutes of the U.S. Federal Reserve's latest meeting for clues on its policy outlook.
* Asian markets were getting a much-needed reprieve on Wednesday as U.S. borrowing costs eased and investors everywhere hunkered down for minutes of the Federal Reserve's July policy meeting -- though some feared they might only sow more confusion.
The following data is expected on Wednesday: (Time in GMT)
* 1400 U.S. Existing home sales
* 1800 Federal Open Market Committee releases minutes from its July 30-31 meeting
(Reporting by Rebekah Kebede; Editing by Richard Pullin)