UPDATE 8-Brent seesaws on Middle East worry, slowdown concerns

* Turkey warns Syria about cross-border shelling

* IMF warns on global financial stability

* Coming up: API oil data, 4:30 p.m. EDT Wednesday

(Updates prices) By Robert Gibbons

NEW YORK, Oct 10 (Reuters) - Brent crude prices edged up on Wednesday in volatile trading, as concerns about the security of Middle East supplies amid escalating tensions over Syria helped offset fears that slowing economic growth will curb demand for petroleum.

U.S. crude turned lower after briefly rallying and testing resistance at recent price peaks, then stalling within 17 cents of the 50-day moving average of $93.83, a technical area monitored by chart-watching traders and analysts.

Global equities fell for a third day as institutional and corporate warnings of slower growth underscored worries about a sluggish world economy.

Crude futures were supported as shelling along the Turkey-Syria border, hostility between Iran and the West and an impending Israeli election reinforced fears about potential threats to oil supplies from the Middle East Gulf.

Turkey's military chief of staff said on Wednesday his troops would respond with greater force if bombardments from Syria kept hitting Turkish territory.

"It's not that Syria and Turkey are significant oil exporters but Iraqi crude from the northern part of Iraq (Kirkuk) flows via pipeline through Turkey to Ceyhan," said Dominick Chirichella, an energy analyst at New York's Energy Management Institute.

Brent November crude rose 7 cents to $114.57 a barrel by 1:42 p.m. EDT (1742 GMT), having reached $115.59, the highest since prices hit $117.02 on Sept. 1, according to Reuters data.

U.S. November crude was down 62 cents at $91.77 a barrel, after rising to $93.66, the highest since prices reached $93.84 intraday on Sept. 21.

U.S. crude tested resistance above the $93.33 peak from Oct. 1, after prices had stalled in consecutive sessions at intraday highs of $93.18 and $93.20 on Sept. 24 and 25.

Brent's premium to U.S. crude seesawed, but remained well above $22 a barrel. The Middle East conflicts and delays in the October loading of North Sea Forties cargoes have helped push Brent's premium to its highest since October 2011.

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Graphic on WTI-Brent spread: Graphic of 24-hr chart Brent analysis: ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> SLOWDOWN FEARS

Gloomy economic expectations have tempered oil prices, which might have reacted more bullishly to geopolitical turmoil.

Oil prices came under early pressure from continuing worries about economic growth after the International Monetary Fund said risks to global financial stability had risen in the past six months, leaving confidence "very fragile".

The U.S. Energy Information Administration on Wednesday cut its forecasts for global growth in oil demand for this year and 2013 and raised expectations for expanded production from non-OPEC countries.

China's annual economic growth is expected to have slowed for a seventh straight quarter in the July-September period to its weakest level since the depths of the global financial crisis, a Reuters poll showed.

On Tuesday the IMF said the global economic slowdown was worsening and cut its growth forecasts for the second time since April, warning U.S. and European policymakers that failure to fix their economic ills would prolong the slump.


Ahead of weekly reports on U.S. oil stockpiles, crude inventories were expected to have risen 1 million barrels in the week to Oct. 5, according to a Reuters survey of analysts.

Industry data from the American Petroleum Institute is due at 4:30 p.m. EDT (2030 GMT) on Wednesday, with government data from the EIA following on Thursday at 11 a.m. EDT (1500 GMT). Both sets of figures were delayed a day by the U.S. Columbus Day holiday.

(Additional reporting by Alice Baghdjian in London and Florance Tan in Singapore; Editing by Dale Hudson)

((robert.gibbons@thomsonreuters.com)(+1 646 223 6059)(Reuters Messaging: robert.gibbons.reuters.com@reuters.net))

Keywords: MARKETS OIL/