Wednesday, April 18, 2012

20120418 1051 Global Market & Commodities Related News.

GLOBAL MARKETS-Shares rebound as Spain debt worry eases
TOKYO, April 18 (Reuters) - Stabilising risk appetite lifted Asian shares and riskier currencies on Wednesday, after firm demand at Spanish debt sales, positive U.S. corporate earnings, and an improved  sentiment in a Germany survwy boosted investor confidence.
"Risk appetite has come back," said Takashi Hiroki, chief strategist at Monex Inc. "The results of Spanish short-term auction were good. Corporate earnings in the U.S. have met or beat market forecasts."

COMMODITIES-Markets eke out gains as U.S. stocks rise
NEW YORK, April 17 (Reuters) - Commodity markets eked out gains lifted by a buoyant stock market and an easing of euro zone worries after a smooth Spanish bond sale.
The Thomson Reuters-Jefferies CRB Index, a global commodities benchmark, was up 0.54 percent on Tuesday afternoon, snapping two days of losses, but it pared some gains to finish the day 0.43 percent higher.

Obama and the oil speculator bogeyman
--Robert Campbell is a Reuters market analyst. The views expressed are his own--
NEW YORK, April 17 (Reuters) - When a politician trots out the mythical evil speculator as an explanation for why a market is not yielding cheap goods for consumers, you can be almost certain that the real reasons for rising prices are being ignored.
U.S. President Barack Obama's latest attempt to blame speculators for high oil prices smacks of cheap electoral politics and ignores the awkward fact that regulators have hardly turned up much evidence of malicious market manipulation and prosecuted even fewer evil speculators.

OIL- US crude jumps, Brent lags, spread narrows
NEW YORK, April 17 (Reuters) - Brent crude edged up as an upcoming pipeline reversal, aimed at alleviating oversupply in the central United States, bolstered U.S. oil futures at the expense of the higher-priced European benchmark.
"The Spain debt saga is also helping as is the IMF economic growth outlook revision."

US natgas futures sink 3 pct, front hits 10-yr low
NEW YORK, April 17 (Reuters) - U.S. natural gas futures finished sharply lower on Tuesday as forecasts for moderate U.S. weather and an ever growing supply glut sparked selling that knocked the front-month contract to a new 10-year low.
"We're in the (spring) shoulder period, and storage is already jam packed. We've got a big oversupply right now," a New England-based trader said, noting weather demand was fading.

Euro Coal-Prices dip 50c, June ARA trades at $96/T
LONDON, April 17 (Reuters) - European physical coal prices dipped by around 50 cents on Tuesday due to continued oversupply with only one fresh trade reported, utilities and traders said.  
"The trend is for prices to go down but the key is the values achieved by U.S. Illinois high-sulphur coals. These are being sold at extremely competitive prices," said Martin Blomendal, consultant with Energy Edge.

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