NYMEX-US crude up towards $90, Syria violence supports

SINGAPORE, Oct 9 (Reuters) - U.S. crude rose towards $90 abarrel on Tuesday after declining for two straight sessions, asescalating geopolitical risks offset pressure from globaleconomic concerns.

FUNDAMENTALS* NYMEX crude for November

rose 38 cents to $89.71 abarrel in early Asia trading, after dropping 55 cents theprevious session.

* Turkish President Abdullah Gul said on Monday the"worst-case scenarios" were now playing out in Syria and Turkeywould do everything necessary to protect itself, as its armyfired back for a sixth day after a shell from Syria flew overthe border.

* The IMF cut its global growth forecast on Tuesday for thesecond time since April and warned U.S. and Europeanpolicymakers that failure to fix their economic ills wouldprolong the slump.

* The World Bank cut its economic growth forecasts for EastAsia and the Pacific region, saying there was a risk theslowdown in China could be deeper and more prolonged thanexpected by many analysts.

* Monday's Columbus Day holiday for U.S. federal workerswill delay weekly oil inventory reports this week. The AmericanPetroleum Institute will release its data at 4:30 p.m. EDT (2030GMT) on Wednesday, while U.S. Energy Information Administrationdata will arrive at 11 a.m. EDT on Thursday.

MARKETS NEWS

* Jitters over the euro zone debt crisis knocked the eurodown from two-week highs with uncertainty about Spain persistingafter euro zone finance ministers meeting in Luxembourg said thecountry did not yet need a bailout.

* Heading into the U.S. third-quarter corporate earningsreporting season -- which starts on Tuesday with a report fromAlcoa

-- analysts forecast earnings will fall 2.4 percentfrom the year-ago quarter. That would mark the first decline inthree years.

* Germany's trade surplus hit its highest level in fiveyears in August after a surprise jump in exports while outputdipped only slightly, highlighting the economy's resilience tothe euro zone crisis, although economists see a slowdown ahead.

DATA/EVENTS

* The following data is expected on Tuesday:

1145 U.S. ICSC chain stores yy Weekly

(Reporting by Randy Fabi; Editing by Richard Pullin)

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