TOKYO, Jan 5 (Reuters) - U.S. crude futures edged up to near $37 a barrel on Tuesday after volatile trade in the previous session and ahead of industry data expected to show a slight drawdown in U.S. crude stockpiles.
FUNDAMENTALS
* NYMEX crude for February delivery CLc1 was up 12 cents at $36.88 a barrel by 0000 GMT, after settling down 28 cents on Monday.
The benchmark hit an intraday high of $38.39 on Monday amid tensions between Saudi Arabia and Iran, but the gains were outweighed later by weaker global stock markets and worries about slowing economic growth in China.
* London Brent crude for February delivery LCOc1 was untraded yet after settling down 6 cents at $37.22. The contract hit a three-week high of $38.99 on Monday.
* U.S. commercial crude oil stocks probably dipped last week, while distillate and gasoline stocks likely edged higher, a preliminary Reuters survey showed on Monday ahead of the data release by industry group American Petroleum Institute later in the day. EIA/S
* Traders said market intelligence firm Genscape reported a build of more than 480,000 barrels in Cushing crude supplies for the week to Jan. 1, after flooding in the U.S. Midwest caused temporary closure of a couple of pipelines. L1N14K05D L1N14J011
MARKETS NEWS
* Global equity markets fell on Monday amid renewed worries about economic growth after Chinese shares slid 7 percent on weak data. MKTS/GLOB
U.S. stocks began 2016 sharply lower on Monday, with the Dow marking its worst start to a year since 2008. .N
* The Japanese yen rose broadly on Monday, as traders piled into the traditional low-risk currency after disappointing Chinese factory data sparked a selloff on global stock markets. USD/
DATA/EVENTS
* The following data is expected on Tuesday. (Time in GMT)
- 1000 Euro Zone inflation, flash
Dec
- 1355 U.S. Redbook
weekly
- 1445 U.S. ISM-New York index
Dec
- 1830 U.S. U.S. car, truck sales
Dec
- 2130 American Petroleum Institute oil data weekly