NYMEX-U.S. oil stays above $108 on Syria jitters
SINGAPORE, Sept 4 (Reuters) - U.S. crude held above $108 a barrel as U.S. lawmakers voiced support for military action against Syria, stoking concerns of oil supply disruptions in the broader Middle East.
* U.S. crude futures for October delivery had edged down 14 cents to $108.40 a barrel by 0011 GMT, after settling up 89 cents in the previous session.
* Brent crude for October rose 5 cents to $115.73, following a $1.35 gain on Tuesday.
* President Barack Obama won the backing of key figures in the U.S. Congress, including Republicans, in his call for limited U.S. strikes on Syria to punish President Bashar al-Assad for his suspected use of chemical weapons against civilians.
* Sudan lifted a threat to block oil exports from South Sudan, as the leaders of the African neighbours met on Tuesday and promised to end their festering conflicts.
* The virtual shutdown of Libya's oil industry has squeezed supply as tightly as when the International Energy Agency (IEA) ordered a rare release of strategic oil reserves during the civil war in 2011.
* Israel tested a U.S.-backed missile system in the Mediterranean on Tuesday but did not announce the launch in advance, prompting a disclosure by Russia that kept the world on edge as the United States weighed an attack on Syria.
* An Egyptian judicial panel supported a legal challenge to the status of the Muslim Brotherhood on Monday, compounding a drive to crush the movement behind the elected president deposed by the army in July.
* A month-long rally in crude oil prices pushed the closely-watched Brent/WTI spread close to the brink of a correction, technical analysts said on Tuesday, as a key technical indicator showed prices fell to their weakest level for the first time in seven months.
* U.S. commercial crude oil and gasoline inventories likely fell last week, a preliminary Reuters poll of six analysts showed.
* World stock markets rose on Tuesday but ended well off session highs as U.S. congressional leaders voiced support for military intervention in Syria, while bond yields rose and the dollar gained on strong U.S. manufacturing data.
* The following data is expected on Wednesday:
- 0130 GMT Australia GDP yy Apr
- 0400 GMT U.S. Total vehicle sales Dec
- 0758 GMT EZ Markit Services PMI Aug
- 0930 GMT India M3 money supply
- 1145 GMT U.S. ICSC chain stores yy Weekly
- 1230 GMT U.S. International trade mm $ Dec
- 2030 GMT U.S. API weekly crude stocks Weekly
- 2030 GMT U.S. API weekly dist. stocks Weekly
- 2030 GMT U.S. API weekly gasoline stk Weekly
(Reporting by Florence Tan; Editing by Joseph Radford)