NYMEX-Crude falls on debt worry, fading storm fear

* Equities, euro drop on euro zone debt worry, hit oil

* U.S. consumer confidence fell in June, weighs on oil

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

NEW YORK, June 29 (Reuters) - U.S. crude oil futures
tumbled more than 3 percent on Tuesday as renewed euro zone
debt concerns helped lower investor risk appetite amid fears
the economic recovery may falter and hurt energy demand.

The revived concern about a double-dip recession pressured
oil prices already pushed lower because Tropical Strom Alex was
expected to miss key U.S. Gulf Coast energy infrastructure.

The waning threat from Alex allowed the price rise from
last week to continue to evaporate. Crude oil prices settled at
a seven-week high on Friday when the path of the tropical
depression that became Alex was less certain.

The U.S. National Hurricane Center expects Alex to become
the Atlantic season's first hurricane on Tuesday and to hit
near the Texas-Mexico border Thursday. [ID:nN29262492]

"(O)il prices were further pressured by weaker global
equity markets on renewed concerns that growth in China, the
driver for economic recovery, was showing additional signs of
slowing down," J.P. Morgan said in its morning research.

World stocks hit a 2-1/2 week low as investors worried
about funding for banks about to repay 442 billion euros
($545.5 billion) to the European Central Bank. [MKTS/GLOB]

The MSCI world equity index .MIWD00000PUS and Chinese
stocks .SSEC fell 4 percent to a 14-month low.

U.S. stocks fell at the open on Tuesday. [.N] The euro fell
broadly [USD/] and the dollar index .DXY, measuring the
greenback against a basket of currencies, was stronger.

U.S. consumer confidence fell steeply in June after rising
for three months on labor market concerns, the Conference
Board, an industry group, said. [ID:nN29139725]

Oil traders later on Tuesday will eye gasoline demand data
from MasterCard and have a look at industry group the American
Petroleum Institute's oil inventory report.

A Reuters analyst survey on Monday forecast crude stocks
fell 1.1 million barrels last week. Distillate stocks were
expected to be up, with gasoline supplies lower. [EIA/S]

PRICES

* On the New York Mercantile Exchange at 10:19 a.m. EDT
(1419 GMT), August crude CLQ0 was down $2.70, or 3.45
percent, at $75.55 a barrel, trading from $75.28 to $78.32.

* The $64.24 intraday low on May 20 was the weakest
front-month price since $62.76 was struck on July 30, 2009. The
2010 peak of $87.15 was struck on May 3.

* In London on the Intercontinental Exchange, August Brent
crude LCOQ0 fell $2.51, or 3.22 percent, to $75.09 a barrel,
trading from $74.96 to $77.75.

* NYMEX July RBOB RBN0 fell 7.35 cents, or 3.44 percent,
to $2.0641 a gallon, trading from $2.0612 to $2.1337.

* NYMEX July heating oil HON0 fell 7.43 cents, or 3.55
percent, to $2.0190 a gallon, trading from $2.0179 to $2.0935.

* NYMEX July refined products contracts expire Wednesday.

* The August/August heating oil crack spread <0#CL-HO=R>
was at $10.36 a barrel. The spread ended Monday at $10.67. The
August/August RBOB crack spread <0#RB-CL=R> was at $10.83. The
spread ended Monday at $11.22.

* The spread between the current front month and the
five-year forward crude contract CLc61 was at $12.19, based
on the August 2015 contract Monday settlement at $87.74. The
spread ended on Monday at $9.49.

MARKET NEWS

* Single-family home prices unexpectedly rose in April amid
a push to buy before tax credits expired, Standard &
Poor's/Case Shiller home price indexes showed. [ID:nNLLTHE677]

* U.S. Treasuries rose on Tuesday, pushing two-year note
yields to the lowest on record. [ID:nN29317847]

* OPEC supply is expected to fall in June from the 17-month
high reached in May, a Reuters survey showed. [ID:nLDE65S15Z]
(Reporting by Robert Gibbons; editing by Jim Marshall)