GLOBAL MARKETS-Stocks, euro fall after Fed offers no new stimulus
SINGAPORE, Dec 14 (Reuters) - Asian shares drifted lower and the euro floundered near an 11-month low on Wednesday after the Federal Reserve failed to take any new steps to stimulate growth and offset the chilling effects of Europe's still-unresolved debt crisis.
"Investors continue to avoid risk as they look to possible sovereign debt downgrades in Europe," said Hiroichi Nishi, equity general manager at SMBC Nikko Securities in Tokyo.
COMMODITIES-Oil rises most in a month, wheat rallies too
NEW YORK, Dec 13 (Reuters) - Oil scored its biggest gain in a month on Tuesday after escalating tensions between Iran and the West, and wheat and cocoa prices also rose sharply to help push commodities broadly higher.
"I think a lot of people that have been short wheat are beginning to cover those short positions," said Al Kluis, president of Kluis Commodities, a market advisory service.
Oil jumps 2 pct on Iran jitters, OPEC meeting eyed
NEW YORK, Dec 13 (Reuters) - Oil prices rose 2 percent on Tuesday as geopolitical jitters about Iran combined with threats to supply and key shipping lanes sent U.S. crude above $100 a barrel.
"I don't know why markets are reacting negatively since there was no indication of QE3 (quantitative easing) ahead of the meeting, despite rumors running around today," said Dominick Chirichella, senior partner at Energy Management Institute in New York.
NYMEX-Natgas ends higher, firm crude, colder outlook help
NEW YORK, Dec 13 (Reuters) - U.S. natural gas futures ended higher on Tuesday for the first time in three sessions, backed by a strong run in crude and a colder 15-day outlook despite mild near-term weather and concerns about high supplies.
"Colder forecasts for the tail end of the two-week outlook may have helped support prices, but storage comps (withdrawal comparisons) to last year are falling short in a big way and we could head into 2012 with a big storage bubble," said Gelber & Associates analyst Pax Saunders.
Euro Coal-Prices stable despite oil gain
LONDON, Dec 13 (Reuters) - Physical prompt coal prices were little changed on Tuesday on shrinking liquidity in the holiday season in Europe, despite a rally in oil futures after the International Energy Agency forecast demand growth next year.
"There are very few people in the market and no real interest to trade - the bid/offer spreads show that," one trader said.
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