NYMEX-Crude up as dollar down on debt ceiling rift

* A weak dollar helps lift oil, copper prices

* U.S. crude stocks expected to have fallen last week-poll

* Coming up: API oil data 4:30 p.m. EDT (2030 GMT) Tuesday

NEW YORK, July 26 (Reuters) - U.S. crude futures rose on Tuesday,
approaching the $100 a barrel mark, on the dollar's weakness as political
wrangling over the U.S. debt ceiling and budget continued.

A weak dollar can support oil, copper and other commodities prices by
making the commodity less expensive for consumers using other currencies
and by attracting investment to commodities markets seeking higher yields.

The dollar plumbed a record low against the Swiss franc and suffered
broadly as ongoing political wrangling about raising the U.S. debt ceiling
kept investors jittery about the possibility of a debt default, expecting
that could trigger more losses in the U.S. currency. [USD/]

A speech by U.S. President Barack Obama on Monday gave no sign of a
swift breakthrough in deadlocked talks to raise the U.S. debt ceiling.

There is an Aug. 2 deadline for lifting the ceiling and avoiding
default.

Investors will assess weekly oil inventory reports in the United
States, starting with the report from industry group the American Petroleum
Institute due on Tuesday at 4:30 p.m. EDT (2030 GMT).

U.S. crude stocks were expected to have fallen last week, while
products stockpiles rose, a Reuters survey of analysts on Monday showed.
[EIA/S]

The government's inventory report from the U.S. Energy Information
Administration follows on Wednesday at 10:30 a.m. EDT (1430 GMT).

FUNDAMENTALS

* On the New York Mercantile Exchange, September light sweet crude
CLU1 rose 71 cents to $99.91 a barrel by 8:36 a.m. EDT (1236 GMT),
trading from $98.80 to $99.98.

* Germany's Gfk index of consumer morale fell to a 10-month low of 5.4
in August, from July's downwardly revised 5.5. [ID:ID:nLDE76P0C2]

* ANZ Research lowered its Brent crude price forecast by $3 to $120 per
barrel for the third quarter and cut its West Texas Intermediate outlook by
$12 to $100 per barrel, citing limited investment appetite and
macroeconomic head winds. [ID:nL3E7IQ2LJ]

* Saudi Arabia has struck deals to sell 3 million barrels more oil to
India in August, stepping into the vacuum created by regional rival Iran
after it cut supply to New Delhi. [ID:nL3E7IQ1ZW]

* Iran's OPEC governor said international oil prices are expected to
climb and that Saudi Arabia's decision to raise its own crude output cannot
prevent a price rise, the semi-official Mehr news agency reported.
[ID:nL6E7IQ0LP]

MARKETS NEWS

* U.S. stock index futures rose slightly after earnings from blue chip
companies like Ford extended optimism about a strong earnings season even
as the debt ceiling stalemate kept investors nervous. [.N]

* Copper rallied to its highest in a week, lifted by a sagging dollar,
fund buying and a strike at the world's biggest copper mine, which focused
investors on supply.

* A run of strong earning reports supported world stocks. [MKTS/GLOB]

* Gold eased as investors took profits on Monday's run to a record
high, but the U.S. impasse over raising the debt ceiling supported prices
above $1,600 an ounce. [GOL/]

UPCOMING DATA/EVENTS

* U.S. June new home sales are due at 1000 EDT (1400 GMT) on Tuesday.
New home sales fell 2.1 percent in May.

* The U.S. July consumer confidence reading at 1000 EDT (1400 GMT) on
Tuesday is expected at 56.0, down from 58.5 in the previous reading.

* American Petroleum Institute weekly oil inventory data due at 4:30
p.m. EDT (2030 GMT) on Tuesday.
8:36 LAST NET PCT LOW HIGH CURRENT DAY AGO

CHNG CHNG VOL VOL
CLc1 99.91 0.71 0.7% 98.80 99.98 30,888 223,266
CLc2 100.32 0.72 0.7% 99.22 100.37 5,026 54,396
LCOc1 118.58 0.64 0.5% 117.32 118.63 45,027 129,314
RBc1 3.1440 0.0176 0.6% 3.1217 3.1465 857 31,150
RBc2 3.0977 0.0160 0.5% 3.0747 3.1000 2,099 39,431
HOc1 3.1268 0.0190 0.6% 3.0946 3.128 1,512 22,282
HOc2 3.1390 0.0183 0.6% 3.1062 3.1407 2,621 31,119
* NYMEX crude oil for September CLc1 rose 71 cents to $99.91 a barrel by
8:36 a.m. in volume of 30,888 lots.
(Reporting by Robert Gibbons; Editing by John Picinich)