Monday, January 30, 2012

20120130 1129 Global Market & Commodities Related News.

Shares, euro guarded over likely Greek debt deal
TOKYO, Jan 30 (Reuters) - Asian shares inched lower and the euro eased from its highest in more than six weeks on Monday, as markets cautiously tuned in to a likely debt swap deal for Greece that is crucial to avoiding a messy default and eyed another a European summit meeting.
"As focus shifts to the second Greek bailout fund from the debt swap deal, it's likely that sentiment will revert to risk aversion given that talks are expected to face hurdles before reaching an agreement," said Masafumi Yamamoto, chief currency strategist at Barclays Bank in Tokyo.    

Brent up on Iran; refinery work lifts U.S. gasoline
NEW YORK, Jan 27 (Reuters) - Brent crude prices rose a second straight day on Friday as Iran's upcoming parliamentary vote on halting exports to the European Union kept supply uncertainty in focus and another U.S. refinery problem helped send gasoline futures surging.
"(U.S.) crude oil prices are under pressure due to the disappointing Q4 GDP reading, and would likely be much lower except for the support given to the complex by gasoline from the Bayway outage," John Kilduff, partner at Again Capital LLC in New York, said.

Japan's 2011 crude imports from Iran fall 13 pct -MOF
TOKYO, Jan 30 (Reuters) - Japan's customs-cleared crude imports from Iran in 2011 fell to 18.23 million kiloliters (314,000 barrels per day), down 13.2 percent from the previous year, Ministry of Finance data showed on Monday.
In December, imports from Iran fell 14.7 percent from a year earlier to 1.56 million kl  (317,000 bpd), the data showed.

Bad weather shuts one oil port in Mexico's Gulf
MEXICO CITY, Jan 29 (Reuters) - Cayo Arcas, one of Mexico's three biggest oil exporting ports in the Gulf, was closed on Sunday due to bad weather, the transport ministry said.  
Almost all of Mexico's crude oil exports are shipped to refineries on the Gulf Coast of the United States from the Cayo Arcas, Dos Bocas and Coatzacoalcos facilities.

India won't cut Iranian oil imports-finance minister
CHICAGO, Jan 29 (Reuters) - India, the world's fourth-largest oil consumer, will not take steps to cut petroleum imports from Iran despite U.S. and European sanctions against Tehran, its finance minister said on Sunday during a visit to Chicago.
The United States wants buyers in Asia, Iran's biggest oil market, to cut imports to put further pressure on Tehran to rein in its nuclear ambitions.  Washington suspects Iran of trying to make nuclear weapons, but Tehran says its nuclear program is for peaceful means.

Euro Coal-Prices tick higher with oil, power
LONDON, Jan 27 (Reuters) - A rise in oil, European power values and tight prompt supply of South African coal pushed coal swaps and physical prices higher by around 50 cents to $1.00 U.S. a tonne on Friday.
"Europe is extremely quiet but we're sold out for February and March and still getting calls from buyers outside Europe who are nothing to do with China," one European trader said.

Gold glimmers, others dim as US growth disappoints
Jan 27 (Reuters) - Gold shone amid a not-so-bright commodities complex on Friday, riding to its best week in three months as disappointing U.S. economic growth added fuel to a rally ignited by the promise of interest rates staying lower for longer.
"With the softer-than-expected GDP reading it means that at a minimum we are going to have a highly accommodative monetary posture," said Mark Luschini, chief investment strategist of Janney Montgomery Scott, a broker-dealer with about $54 billion in assets under management.

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