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NYMEX-Oil regains some losses from stockpile build, China worries

TOKYO, Feb 26 (Reuters) - U.S. crude oil edged up early on Wednesday after falling the previous day when industry data showed a build up in U.S. crude stockpiles and renewed economic worries in China.

FUNDAMENTALS

* U.S. crude futures for April delivery rose 22 cents to $102.05 a barrel by 0020 GMT, after finishing 99 cents lower on Tuesday.

* Brent crude fell $1.13 to settle at $109.51 a barrel on Tuesday.

* U.S. crude inventories rose by 822,000 barrels to 363.3 million barrels in the week to Feb. 21, compared with analysts' expectations for a increase of 1.2 million barrels, data from industry group the American Petroleum Institute showed on Tuesday.

The U.S. Energy Information Agency will release its inventory report later on Wednesday.

* China's corporate debt has hit record levels and is likely to accelerate a wave of domestic restructuring and trigger more defaults, as credit repayment problems rise.

* U.S. home price gains slowed in December, according to a closely watched housing survey on Tuesday that underscored a loss of momentum in the housing recovery, while consumer confidence drifted lower this month.

* Hungarian oil group MOL has cut its crude oil production forecasts mainly due to lower expected output from its fields in the Kurdistan region of Iraq, which had been an important growth driver for its upstream business.

MARKETS NEWS

* Asian markets got off to a cautious start on Wednesday following a flat finish on Wall Street and as concerns over opaque policy moves in China kept investors on edge.

* U.S. stocks edged lower on Tuesday, easing back from record territory a day earlier as weak economic data offset gains in Home Depot and other retail shares.

* The 19-commodity Thomson Reuters/CoreCommodity CRB index edged down 0.2 percent on Tuesday, as natural gas slumped and cotton prices also fell in a broad commodities sell-off sparked by profit-taking.

DATA/EVENTS

* The following data is expected on Wednesday: (Time in GMT)

0700 Germany GfK consumer sentiment

1500 U.S. New home sales

(Reporting by James Topham; Editing by Michael Perry)