GLOBAL MARKETS-Hopes for Europe underpin euro, oil hurts stocks
TOKYO, Feb 27 (Reuters) - The euro gained broadly on Monday as signs of fresh steps from the Group of 20 major economies to contain the euro zone debt crisis boosted sentiment, but higher oil prices hurt stocks.
"The affirmative nuance for beefing up the IMF's funding ability lit the fire on 'risk-on' trade, boosting the euro against the dollar and the yen," said Yuji Saito, director of the foreign exchange division at Credit Agricole Bank in Tokyo.
COMMODITIES-US crude has best week in 2 months; copper up too
NEW YORK, Feb 24 (Reuters) - Oil notched its biggest weekly gain in two months on Friday as worries about Iran deepened and drove U.S. crude prices up for a seventh session, while copper and most other commodities rose on a weak dollar.
"The supportive factors are on the supply side -- Iran and Iran and Iran, with a bit of Syria and Sudan," said Christopher Bellew, an oil broker at Jefferies Bache in London. "It would not be at these numbers if it was not for the supply-side problems."
Brent jumps to 10-month high on Iran tensions
NEW YORK, Feb 24 (Reuters) - Brent crude futures settled near a 10-month high above $125 a barrel on Friday, posting a fifth straight weekly gain as heightened concerns over tensions with Iran about its nuclear program and cuts in supply sent oil prices up on both sides of the Atlantic.
"The supportive factors are on the supply side - Iran and Iran and Iran, with a bit of Syria and Sudan," said Christopher Bellew, a broker at Jefferies Bache in London. "It would not be at these numbers if it was not for the supply-side problems."
Mexico's January oil exports lowest since mid-2010
MEXICO CITY, Feb 24 (Reuters) - Mexico's oil exports in January were the lowest since mid-2010 as the state-oil monopoly diverted more crude to domestic refineries.
State-owned Pemex said Friday the country exported 1.191 million barrels per day in the first month of 2012, the lowest level in 19 months and a drop from the 1.282 million bpd shipped in December.
Oil price rise raises spectre of global recession
LONDON, Feb 26 (Reuters) - A jump in energy prices is jamming the slow-turning cogs of an economic recovery in the West, but that may be nothing compared to the economic shock an Israeli attack on Iran would cause.
Oil rose to a 10-month high above $125 a barrel on Friday, prompting responses from policymakers around the world including U.S. President Barack Obama, watching U.S. gasoline prices follow crude to push towards $4 a gallon in an election year.
Weather, supplies drive US natural gas futures lower
NEW YORK, Feb 24 (Reuters) - Front-month U.S. natural gas futures ended lower on Friday for a second day as mild winter weather forecasts and high supplies continued to pressure prices despite signs that the market may be tightening.
"Producers are making attempts to reduce production, and the power industry has increased demand for gas, but weather forecasts remain bearish," said Kyle Cooper, managing director of research at IAF Advisors in Houston.
Euro Coal-Trades sideways, producers seek $125 Newc
LONDON, Feb 24 (Reuters) - Prompt physical coal prices held steady on Friday after a day dominated by index-linked Q4 rather than fixed-price trades and despite a rise in oil and falls in gas and power.
"U.S. sellers want an FOB price of almost $100 but even if they had free freight, that's not going to work," a utility source said.
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