GLOBAL MARKETS-Markets fall as focus shifts to Athen's commitment
TOKYO, Feb 14 (Reuters) - Shares and the euro slipped on Tuesday, as initial relief over Greece's approval of harsh austerity measures in exchange for crucial aid gave way to doubts about Athens' ability to pursue the reforms, with social unrest intensifying.
"Market uncertainty remains high, since a number of steps remain to ensure that there is no disorderly default in the near term," Barclays Capital said in a note, adding that Greek parliamentary elections in April would make implementation risks of the austerity measures particularly challenging.
COMMODITIES-Oil, soy surge as Greek bailout measures weaken dollar
NEW YORK, Feb 13 (Reuters) - Oil surged on Monday for its biggest gain in six weeks after Greece's approval of bailout measures boosted the euro against the dollar, but copper fell on doubts that Athens will avoid a debt default.
"Crude oil prices continue to draw support from a familiar set of factors: progress on Greek sovereign debt, risk of supply disruption linked to sanctions against Iran, and refinery outages that are seen limiting gasoline supply," Tim Evans, energy analyst for Citi Futures Perspective, said in a note.
Oil up on Greek austerity measures, Iran tensions
NEW YORK, Feb 13 (Reuters) - Oil prices rose on Monday after Greece approved austerity measures needed to acquire more aid and avoid default, sparking another round of investor optimism, and as tensions between Israel and Iran reinforced concerns about supply disruptions.
"Crude oil prices continue to draw support from a familiar set of factors: progress on Greek sovereign debt, risk of supply disruption linked to sanctions against Iran, and refinery outages that are seen limiting gasoline supply," Tim Evans, energy analyst for Citi Futures Perspective, said in a note.
Record supplies, weather drive US natgas to lower close
NEW YORK, Feb 13 (Reuters) - U.S. natural gas futures ended lower on Monday as milder weather forecasts for this week and record high supplies continued to pressure prices despite recent reports of some production cuts.
"The announced cuts by producers (so far) do not look like they will have much of an impact on the overall supply and demand balances anytime soon. The vast majority of the price drivers are still pointing lower," Energy Management Institute's Dominick Chirichella said in a report.
Euro Coal-Offer surge trims $1/T from prompt prices
LONDON, Feb 13 (Reuters) - A surge of offers of almost every variety of coal in every cargo size for delivery into Europe pushed physical prices down by around $1.00 on Monday to $97.00.
"Whatever origin you want, multi, U.S., Colombian, Russian, in 25,000 tonnes to capesize cargoes, it's being offered," one trader said.
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