GLOBAL MARKETS-Shares fall, yen gains on global growth worries
SINGAPORE, March 23 (Reuters) - Asian shares fell on Friday and the safe-haven yen gained after data showing shrinking factory activity in China and the euro zone heightened concerns about a slowdown in the global economy.
"Fears of a Chinese hard landing are on the rise; overdone we think," said Vincent Chaigneau, strategist at Societe Generale.
COMMODITIES-Oil tumbles on China, Europe data; gold dives too
NEW YORK, March 22 (Reuters) - The volatility in oil showed little signs of ebbing on Thursday as crude prices fell about 2 percent for a second time in a week, driven by weak Chinese and European manufacturing data.
"There's a bit of a China backlash at the moment, and we should expect more turbulence as people assess whether China is heading for a hard or a soft landing," said Filip Petersson, commodity strategist at SEB in Stockholm.
OIL-Oil down on weak Chinese, euro zone data
NEW YORK, March 22 (Reuters) - Oil fell 1 percent in light activity on Thursday, dragged down by manufacturing data from China and the euro zone showing a drop in new orders that spurred fresh concerns about global fuel demand.
"There's a bit of a China backlash at the moment, and we should expect more turbulence as people assess whether China is heading for a hard or a soft landing," said Filip Petersson, commodity strategist at SEB in Stockholm.
S.Africa says has suspended Iran oil imports
PRETORIA, March 22 (Reuters) - South Africa has suspended almost all oil imports from Iran, its biggest crude supplier, in response to U.S. diplomatic pressure, a senior diplomat said on Thursday, adding Pretoria was unhappy about being strong-armed by Washington.
Iran accounts for about 29 percent of oil imports to Africa's biggest economy, according to the U.S. Energy Information Administration, making it tough to switch suppliers.
S.Korea, Taiwan, SAfrica cut Iranian oil imports
SEOUL, March 22 (Reuters) - Major buyer South Korea cut imports of Iranian crude in the first two months of 2012, joining Taiwan and South Africa as the latest in a growing group of buyers bowing to international pressure on the Islamic Republic.
A quartet of China, India, Japan and South Korea are the four biggest buyers of Iranian crude in Asia and have either made a cut in imports or pledged to do so. Iran sells most of its 2.6 million barrels per day (bpd) of exports in Asia.
NATURAL GAS-US natural gas futures slide after first 2012 stocks build
NEW YORK, March 22 (Reuters) - U.S. natural gas futures ended lower on Thursday after a government report showed that gas inventories climbed last week for the first time this year, as a near-record mild winter triggered an early start to the stock-building season.
"The first net injection of the year comes slightly ahead of seasonal norms, but doesn't come as a surprise given the unsupportive weather this shoulder season," Mike Tran, analyst at CIBC World Markets, said in a report.
Iran Sanctions Crisis Roils Energy, Shipping (Reuters)
Tension between Iran and the West has driven oil prices to near 10-month highs, awakening fears at the prospect of another global recession, while sanctions over the country's nuclear programme disrupt payments between OPEC's second-biggest supplier and its energy-hungry customers in Asia.
No comments:
Post a Comment