* Oil consolidates after 27-month peak on growth optimism * Poll says crude stocks fell last week, supportive to oil * Coming up: API oil report 4:30 p.m. EST (2130 GMT) NEW YORK, Jan 4 (Reuters) - U.S. crude oil futures prices slipped on Tuesday, retreating from a 27-month peak hit in the previous session when data sparked optimism about economic growth and manufacturing activity going forward. Broker and analyst sources on Tuesday said the recent price rise may have been overextended, require a pause to consolidate and be attracting some profit taking after pushing to intraday highs above $92 a barrel. Crude futures settled at a 27-month peak at $91.55 a barrel on Monday as U.S. and European manufacturing data suggested improving economic growth that could bolster oil demand. Traders will be eyeing weekly oil inventory reports, with U.S. crude stocks expected to have fallen by 1.7 million barrels last week as refiners continued to curb imports for end-year tax considerations, according to a preliminary Reuters survey of analysts on Monday. [EIA/S] Distillate and gasoline stockpiles were expected to be little changed, up 300,000 barrels for both grades of refined products. The dollar index .DXY was slightly weaker and the euro higher against the greenback [USD/]. Any dollar weakness was expected to help limit any slip by oil prices. FUNDAMENTALS * On the New York Mercantile Exchange, February crude CLG1 fell 38 cents, or 0.4 percent, to $91.17 a barrel at 9:10 a.m. EST (1410 GMT), trading from $90.76 to $92.07. * British manufacturing activity grew at its fastest pace in more than 16 years in December and companies' costs rose at a record pace. [ID:nLDE7030ID] * Temperatures in the U.S. Northeast were expected to average near to below normal in the six- to 10-day forecast from private forecaster DTN Meteorlogix. [ID:nDTN133] * Flood waters eased in Australia's major coal mining region to allow some mines to slowly resume production, although most remain idle as devastating floods affect some 200,000 people and force towns to be evacuated. [ID:nL3E7C407D] * Money managers boosted their net long crude oil position on the New York Mercantile Exchange to a fresh record in the week to Dec. 28, as oil prices moved higher, the Commodity Futures Trading Commission said on Monday. [ID:nN03188888] MARKETS NEWS * U.S. stock index futures rose as optimism continued to permeate the market ahead of data on factory orders and car sales. Investors will look at the Federal Open Market Committee minutes from its Dec. 14 meeting for clues on the U.S. central bank's outlook on the economy. The minutes are due at 2 p.m. EST (1900 GMT). * World stocks rose on optimism over the state of the global economy. [MKTS/GLOB] * Gold extended Tuesday's decline to touch its lowest level in a week, as higher-risk assets such as the euro rallied and some investors cashed in on last week's 2.5 percent year-end rally. [GOL/] UPCOMING DATA/EVENTS * U.S. Commerce Department releases November factory orders at 10 a.m. EST. Economists surveyed by Reuters forecast a decrease of 0.1 percent, following a 0.9 percent fall in the previous month. * Industry group the American Petroleum Institute's oil inventory report due at 4:30 p.m. EST (2130 GMT) on Tuesday. * U.S. Energy Information Administration oil inventory data due at 10:30 a.m. EST (1530 GMT) on Wednesday. 9:10 LAST NET PCT LOW HIGH CURRENT DAY AGO CHNG CHNG VOL VOL CLc1 91.17 -0.38 -0.4% 90.76 92.07 59,839 171,010 CLc2 92.07 -0.38 -0.4% 91.65 92.95 16,574 51,321 LCOc1 94.93 0.09 0.1% 94.51 95.74 53,174 82,668 RBc1 2.4250 -0.0023 -0.1% 2.4145 2.4450 3,401 16,276 RBc2 2.4290 -0.0043 -0.2% 2.4206 2.4502 2,812 25,432 HOc1 2.5526 -0.0002 0.0% 2.5443 2.5723 4,875 17,965 HOc2 2.5590 0.0005 0.0% 2.5507 2.5781 2,337 38,785 * NYMEX crude oil for February CLc1 fell 38 cents to $91.17 a barrel by 9:10 a.m. in volume of 59,839 lots. (Reporting by Robert Gibbons; Editing by Walter Bagley)

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