GLOBAL MARKETS: Crude oil slumps, Asian energy stocks follow suit
SINGAPORE, April 12 (Reuters) - Crude oil prices retreated from a 32-month high on concerns the spurt in fuel costs may threaten the nascent global economic recovery, dragging down Asian resource-related stocks in early trade on Tuesday.
The yen and U.S. dollar found some reprieve as demand for red-hot commodity currencies like the Australian dollar waned, but dovish comments from Federal Reserve officials may limit the greenback's upside potential.
OIL: Brent, U.S. oil drop more than $1.50 a barrel on Goldman market view
TOKYO, April 12 (Reuters) - Brent and U.S. crude fell more than $1.50 a barrel on Tuesday in Asian trade as long-term commodity bull Goldman Sachs advised investors to lock-in trading profits before oil and other markets reverse.
Brent crude fell as low $121.97 a barrel while U.S. crude dropped to a low of $108.15 a barrel.
NATURAL GAS: Natgas snaps losing streak, rebounds off 3-1/2-week low
NEW YORK, April 11 (Reuters) - Front-month U.S. natural gas futures ended higher on Monday for the first time in seven sessions, backed by cooler weather forecasts and technical buying after a six-day slide despite still-high supplies.
"The market was due for a little short-covering. The East looks a little cooler, but I don't think it's significant. I don't see a lot of weather demand right now," a West Coast trader said.
EURO COAL: June ARA trades at $129.25/T, up 75 cents
LONDON, April 11 (Reuters) - European physical coal prices rose by around 75 U.S. cents a tonne on Monday, despite a fall in oil prices and a lack of demand for spot coal across most of Europe.
"There doesn't seem to be much logic to coal at the moment. There's a lot coming into Europe, almost nobody's buying, but the market keeps going up," one trader said.
COMMODITIES: Pull back from peaks as Goldman says take profits
LONDON/NEW YORK, April 11 (Reuters) - Gold, copper and oil pulled back from new peaks on Monday as a failed peace plan to halt Libya's civil war stirred hope for an eventual resolution and analysts at Goldman Sachs recommended taking profits.
"Although we believe that on a 12-month horizon the CCCP basket (including copper and crude oil) still has upside potential, in the near term risk-reward no longer favors being long the basket," Goldman's commodity research team, led by London-based Jeffrey Currie, said in a note.
Goldman spooks oil speculators with call to take profit
NEW YORK, April 11 (Reuters) - Long-term commodity bull Goldman Sachs warned clients on Monday to lock-in trading profits before oil and other markets reverse, with the bank's estimates suggesting speculators are boosting crude prices as much as $27 a barrel.
Traders said the call from one of the biggest banks in commodities contributed to a near 3 percent slide in U.S. oil futures , on expectations the bank's numerous clients could close out positions with U.S. crude prices up 20 percent for the year so far.
Fed to stick with low rates, despite oil price rise
NEW YORK, April 11 (Reuters) - Two of the Federal Reserve's most powerful officials said on Monday the U.S. central bank should stick to its super-easy monetary policy, arguing inflation is not a threat and unemployment remains too high.
Underlying U.S. inflation trends are subdued and long-term price expectations are contained, despite rising commodity costs, Janet Yellen, the Fed's influential Vice Chair, told the Economic Club of New York.
Inflation, oil prices create new challenges - IMF
WASHINGTON, April 11 (Reuters) - Soaring oil prices and inflation in emerging economies pose new risks to global recovery but are not yet strong enough to derail it, the International Monetary Fund said on Monday.
The global lender's latest health-check of world economic prospects marked a departure from recent years when its focus was on the financial crisis and recession in rich nations.
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