SINGAPORE, Oct 11 (Reuters) - U.S. crude steadied above $91a barrel on Thursday, as traders balanced escalatinggeopolitical risks with signs of weakening global oil demand.
FUNDAMENTALS
* NYMEX crude for November delivery
nudged up sixcents to $91.31 a barrel in early Asia trading, after droppingmore than a dollar the previous session.
* Global oil demand is looking weaker than previouslyforecast as the slowing economy continues to weigh onconsumption, according to monthly reports released on Wednesdayby the U.S. government and OPEC.
* U.S. crude stocks rose 1.6 million barrels last week, theindustry group American Petroleum Institute said on Wednesday,more than the consensus of analyst expectations. The EIA willrelease its weekly inventory report later on Thursday.
* Turkey's military chief of staff said on Wednesday histroops would respond with greater force if bombardments fromSyria keep hitting Turkish territory.
MARKETS NEWS
* Standard & Poor's on Wednesday cut Spain's sovereigncredit rating to BBB- minus, just above junk territory, citing adeepening economic recession that is limiting the government'spolicy options to arrest the slide.
* The International Monetary Fund urged Europeanpolicymakers to deepen the financial and fiscal ties within theeuro area with some urgency to restore sagging confidence in theglobal financial system.
* China's annual economic growth probably slowed for aseventh straight quarter in the July-September period to itsweakest level since the depths of the global financial crisis, aReuters poll showed.
DATA/EVENTS
* The following data is expected on Thursday:
0500 Japan Consumer confid. index Sep1430 U.S. EIA natural gas stocks Weekly1500 U.S. EIA petroleum status report Weekly
(Reporting by Randy Fabi; Editing by Richard Pullin)
((Randolph.Fabi@thomsonreuters.com)(+65 6870 3803)(ReutersMessaging: randolph.fabi.thomsonreuters.com@reuters.net))
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