GLOBAL MARKETS-Shares ease on China slowdown worry
TOKYO, March 21 (Reuters) - Asian shares slipped on Wednesday as fresh concerns about China's economic slowdown dampened investors' risk appetite, which have been generally rising on a brightening outlook for the U.S. economy.
"Concerns about global growth, specifically China, have weighed on market risk appetite," Barclays Capital analysts said.
COMMODITIES-Down broadly; oil tumbles on Saudi supply pledge
NEW YORK, March 20 (Reuters) - Oil tumbled on Tuesday, with U.S. crude posting the biggest daily decline in three months, after Saudi Arabia reassured markets it will pump enough to compensate for the potential loss of Iranian crude. Gold and other commodities also fell as the dollar rebounded.
"I want to assure you that there is no shortage of supply in the market," Naimi said. "We are ready and willing to put more oil on the market, but you need a buyer."
OIL-Oil falls as Saudi Arabia seeks to calm markets
NEW YORK, March 20 (Reuters) - Oil dropped nearly 2 percent o n T uesday as Saudi Arabia sought to knock back crude's price rise that has threatened the global economy, with the oil minister offering the most detailed argument to date that the OPEC
nation was prepared to meet any supply shortfall.
"My only mission is to convey to you that there is no supply shortage in the market," Naimi told a media briefing in Doha, Qatar, adding supplies were now outpacing global demand by more than 1 million bpd and that current prices were "unjustifiable".
Japan trade min: crude oil supply problem unlikely
TOKYO, March 21 (Reuters) - Japan is unlikely to face major crude oil supply problems now that Washington has exempt the country from financial sanctions as it has cut purchases of Iranian crude oil, Trade Minister Yukio Edano said on Wednesday.
"We welcome the decision," Edano told a news conference. "I believe (crude oil) supply will not become a major issue."
Venezuela: US plan to tap oil reserves unsustainable
CABRUTICA, Venezuela, March 20 (Reuters) - Venezuela said on Tuesday that a plan by the United States and Britain to tap strategic oil reserves was unsustainable in the long term and would only have a limited impact on prices.
Oil Minister Rafael Ramirez said OPEC had no plans to hold an extraordinary meeting to discuss the issue, which he said was primarily a political move ahead of November's presidential election in the United States.
Iraq's southern oil exports jump in March
LONDON, March 20 (Reuters) - Iraq's oil exports from its southern ports have jumped by 150,000 barrels per day (bpd) in March, according to shipping data tracked by Reuters, a sign Baghdad is on the way towards boosting shipments to a post-war record rate.
Exports from the Basra oil terminal, Khor al-Amaya, and a new Gulf outlet have averaged 1.81 million bpd in the first 19 days of March, the data showed, up from about 1.66 million bpd in February.
NATURAL GAS-US natural gas futures end lower ahead of storage build
NEW YORK, March 20 (Reuters) - U.S. natural gas futures ended lower on Tuesday, after two days of modest technical gains, as record-high supplies, mild early spring weather and expectations for a weekly inventory build on Thursday weighed on prices.
Pax Saunders, analyst at Gelber & Associates in Houston, said recent price action could look like a technical bottom, but he added, "It's difficult to imagine that we've seen a seasonal low with ... an end-of-March storage level likely near 2.4 tcf and no substantive production constraints on the table."
EURO COAL-Coal seeks direction, China looks bearish
LONDON, March 19 (Reuters) - Prices of prompt physical coal were largely unchanged on Monday as it struggled to find direction from its own fundamentals or from other markets, traders and utilities said.
"It's been illiquid, no demand for the front months but no real appetite to sell it either, and no direction from oil, currency or power today," one utility source said.
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