SINGAPORE Dec 4 U.S. crude held around $89 per
barrel in early Asian trade on Tuesday, as weak manufacturing
data from the United States and worries over its fiscal deficit
offset supply concerns caused by tensions in the Middle East.
* U.S. crude futures fell 8 cents to $89.01 per
barrel at 0006 GMT after topping $90 per barrel in the previous
* U.S. Republicans proposed steep spending cuts on Monday
and gave no ground on a higher tax plan for wealthy citizen,
suggesting that plans to avert the "fiscal cliff" may lean more
towards tightening the purse strings.
* U.S. manufacturing contracted to a three-year low in
November on worries over the fiscal deficit negotiations and a
delayed impact of Hurricane Sandy.
* The 20-month old conflict in Syria worsened after the
government spokesman fled the country and the United Nations
announced that it was withdrawing all non-essential staff from
the Middle Eastern country.
* Israel rejected criticism from the U.S. and Europe of its
plans to expand its settlements after the United Nations' de
facto recognition of Palestine as a state.
* U.S. commercial crude oil stockpiles likely rose
marginally last week while gasoline stockpiles were expected to
show larger builds, a preliminary Reuters poll of six analysts
showed on Monday.
* U.S. stocks struggled to extend the previous week's gains,
dropping on Monday as disappointing U.S. factory numbers
dampened optimism about China's economic growth.
* The euro climbed for the fourth straight session against
the dollar on Monday to touch a six-week high as news from Spain
and Greece allayed concerns about those debt-burdened countries,
while data from China eased worries about global economic
0330 Australia RBA cash rate Dec
1000 Euro zone Producer prices Oct
1100 Brazil Industrial output Oct
1245 U.S. ICSC weekly chain store sales
1355 U.S. Redbook weekly retail sales
1445 U.S. ISM-New York index Nov
2130 U.S. API weekly crude stocks
(Reporting by Ramya Venugopal; Editing by Ed Davies)