SINGAPORE, Aug 2 (Reuters) - U.S. crude prices rebounded from a one-month low on Tuesday, after the House of Representatives passed a last-minute deal to raise the United States's borrowing ceiling, restoring some optimism to markets battered by disappointing economic data.
West Texas Intermediate crude
Just one day before the deadline to lift the U.S. debt ceiling, the passage by 269 votes to 161 by the Republican-controlled House paved the way for an expected approval in the Senate of a $2.1 trillion deficit-cutting plan hammered out over the weekend. The Democratic-led Senate was expected to vote on the plan on Tuesday.
FUNDAMENTALS
* Brent crude edged higher on Monday as North Sea oilfield maintenance and violence in the Middle East offset weaker global factory data that fed doubts about the energy demand outlook. It gained 11 cents to $116.92 on Tuesday.
* BP said the North Sea Forties Pipeline System would be closed for five days this week to allow workers to remove an unexploded mine from World War II that was discovered submerged in water near the pipeline.
* France's Total shut its North Sea Elgin platform, which pumps 104,000 barrels per day of condensate, for summer maintenance, the company said, without disclosing the duration.
* The world's manufacturing sector expanded at its weakest pace in two years last month as factories reported shrinking orders for the first time since major economies recovered from the banking crisis and recession of 2008, surveys showed on Monday.
* The U.S. Institute for Supply Management manufacturing report, a gauge of factory activity in the world's largest economy, fell to 50.9 in July, its lowest since July 2009.
* In Europe, the euro zone manufacturing PMI, which gauges thousands of businesses, fell to 50.4 in July from 52.0 in June -- its worst showing since September 2009.
* U.S. crude oil inventories probably rose by 1.2 million barrels last week as increased supplies from the Strategic Petroleum Reserve offset losses due to Tropical Storm Don, a Reuters poll showed on Monday.
* Gasoline stockpiles were projected unchanged for the week, the poll showed, while distillate stocks were expected to have risen 1.5 million barrels.
* Industry data on inventories from the American Petroleum Institute (API) will be published on Tuesday, followed by government statistics from the Energy Information Administration on Wednesday.
* Tropical Storm Emily formed near the Caribbean's Lesser Antilles islands on Monday, far from oil and gas-production facilities in the U.S. Gulf of Mexico.
* A major Asian refinery, Formosa's 540,000 barrels per day plant in Taiwan, will shut down for repairs lasting 1-2 weeks at least, following a fire over the weekend. The shutdown may last longer, pending an investigation after the Formosa refinery had its seventh fire in a year.
MARKETS NEWS
* The Swiss franc soared on Monday and the U.S. dollar rallied against the euro, with demand for safe-haven currencies set to continue on concerns about slowing global economic growth and a possible cut of the United States' credit rating.
* Stocks and commodities fell on Monday on weak factory data, but pared losses toward the end of the day.
DATA/EVENTS (GMT)
* The following data is expected on Tuesday:
0400 U.S. Total Vehicle Sales Jul
0430 Australia RBA cash rate Final Aug 2011
1145 U.S. ICSC chain stores yy Weekly
1200 Brazil Industrial output yy Jun 2011
1230 U.S. Personal income mm Jun
2030 U.S. API weekly crude stocks Jul 29
2030 U.S. API weekly dist. stocks Jul 29
2030 U.S. API weekly gasoline stk Jul 29 (Reporting by Alejandro Barbajosa Editing by Clarence Fernandez)