GLOBAL MARKETS: Asian shares rise; eyes on China inflation data
MELBOURNE, May 11 (Reuters) - Asian shares pushed higher in line with gains in world markets as Chinese trade data buoyed optimism about the global recovery, but investors will be watching China's inflation data due later on Wednesday for any hints on further tightening.
U.S. stocks rose for a third day in a row, led by utilities and other defensive sectors, while European shares climbed to a one-week closing high as investor concerns over a possible Greek debt restructuring receded.
OIL: U.S. Oil rises on flood threat to U.S. refiners, China
NEW YORK, May 10 (Reuters) - Oil rose on Tuesday, supported by concerns that flooding could hit the U.S. Gulf Coast refining hub and data showing strong Chinese crude imports for April.
"Crude futures are stronger today as the flooding in Mississippi River has raised worries about refinery operations in that region," said Mark Waggoner, president of Excel Futures in Bend, Oregon.
NATURAL GAS: Natural gas ends up, first gain in 7 sessions
NEW YORK, May 10 (Reuters) - Front-month U.S. natural gas futures ended higher on Tuesday, backed by a technical bounce after six straight losing sessions despite mild northern tier weather this week that has slowed demand.
"I think there was some short covering or technical buying going on, but the (bearish) fundamentals haven't changed - there is a little warm weather around, but there's still a lot of gas out there," a Pennsylvania-based trader said.
EUROCOAL : ARA prices dip $1.50 on oil, dollar rise
LONDON, May 10 (Reuters) - European coal prices fell by around $1.50 a tonne on Tuesday, or just over 1 percent, after oil prices pared earlier gains and the dollar rose, traders and utilities said.
"There aren't any new factors driving coal. It's tracking oil and the dollar, and few players are in the market today," one European utility source said.
COMMODITIES: Oil bounces 1 pct on flood threat, grains rise
NEW YORK, May 10 (Reuters) - Chinese trade data indicating a healthy global economy lifted crude oil and copper to a second day of gains as commodities continued to recover from last week's near-record sell-off.
"A correction like that is actually good in the longer run," said James Rife, an assistant portfolio manager of Haber Trilix Advisors, which manages $2 billion in assets.
Malaysia's Petronas plans $17 bln energy plant-paper
KUALA LUMPUR, May 11 (Reuters) - Malaysia's national oil firm Petroliam Nasional Bhd (Petronas) will invest about 50 billion ringgit ($17 billion) in a downstream oil and gas complex in southern Johor state, the Star newspaper reported on Wednesday citing unnamed sources.
The facility in Pengerang, Johor, would include oil refining and petrochemical facilities as well as a gas power plant, the paper said, adding that the investment would be announced on Friday.
Airline business travel growth battles fuel factor
LONDON, May 10 (Reuters) - The recovery in business travel and exposure to fast-growing emerging markets are becoming the driving factors in the airline industry and those without it have no buffer against higher fuel costs.
Tuesday's batch of industry results demonstrated this, with profits from Dubai's Emirates [EMIRA.UL] powering ahead on high-end travel growth while UK-based easyJet and Scandinavian airline SAS were both driven into losses by rising kerosene prices and a faltering economic recovery in Europe.
Australia's booming LNG sector poses carbon conundrum
SINGAPORE, May 10 (Reuters) - Australia's rising liquefied natural gas (LNG) exports may make for bluer skies over Chinese power plants, but back home LNG producers will pump out more carbon emissions than the coal sector.
Natural gas is the cleanest of the fossil fuels when it is burned, so energy-hungry Asian nations are snapping up stakes in LNG projects as they look to guarantee fuel supplies to meet fast-growing energy needs while weaning economies off coal and cutting emissions.
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