GLOBAL MARKETS-Shares rise on hopes of more monetary stimulus
TOKYO, July 4 (Reuters) - Asian shares rose as investors kept hopes high for more monetary policy stimulus to support the faltering global economy, but trading may be subdued with U.S. markets closed for the Independence Day holiday.
"Markets are likely to remain unsettled on overriding growth-related concerns, but emerging market valuations already reflect reasonable worst-case outcomes and there is also scope for (unanticipated) policy action," Morgan Stanley said in a research note.
COMMODITIES-Oil, stoked by Iran talk, leads near-record rally
NEW YORK/LONDON, July 3 (Reuters) - Commodity markets shot higher for the second time in three days on Tuesday, with oil prices leading the way as they posted one of their biggest, broadest rallies ever as bellicose rhetoric from Iran stoked Mideast supply worries.
"Wild swings like these are what we saw back in 2008 when we were in fear-ridden, bear markets. Gains like these usually peter out after a few days or weeks," said Adam Sarhan, chief executive of New York advisory Sarhan Capital.
Price jump does not mark shift in oil fundamentals
--John Kemp is a Reuters market analyst. The views expressed are his own--
LONDON, July 3 (Reuters) - If anyone still doubted that the positions held by major market players as well as fundamentals are a powerful driver of oil prices, the enormous surge in Brent and U.S. crude prices on June 29 should put the matter beyond dispute.
The 9.4 percent jump in front-month U.S. crude futures and 7.0 percent rise in the equivalent Brent contract last Friday were among the largest one-day rises on record.
OIL-Brent oil up 3 pct on Iran concerns, stimulus hope
NEW YORK, July 3 (Reuters) - Brent crude rose more than 3 percent on Tuesday, topping $100 a barrel as rising tensions over Iran's nuclear program sparked oil's second rally in three sessions after a second-quarter slide.
"I think this is positioning for geopolitical risk in the Middle East," said Bill O'Grady, chief market strategist at Confluence Investment Management in St. Louis.
Freight dispute risks delay in Iran oil to China-sources
BEIJING, July 3 (Reuters) - The delivery of millions of barrels of Iranian crude to its top buyer, China, is at risk of delay due to a dispute between refining giant Sinopec and shipper National Iranian Tanker Co (NITC) over freight terms, Beijing-based sources said on Tuesday.
China has turned to NITC for delivery of the 500,000 barrels per day of crude it buys from Iran as a result of European Union sanctions. The EU measures took effect on Sunday and prohibit European insurers, who dominate the maritime sector, from offering cover on Iran crude.
NATURAL GAS-US gas futures rise 3 pct ahead of holiday
NEW YORK, July 3 (Reuters) - U.S. natural gas futures rose nearly 3 percent on Tuesday, boosted in some pre-holiday short covering amid hot weather in much of the nation that has increased air conditioning demand.
"The natural gas market is probing the upside, supported by current hot temperatures that boost air-conditioning loads and related natural gas demand from utilities, leading to lower storage injections and a reduced storage surplus in turn," said Citi Futures energy analyst Tim Evans.
EURO COAL-Aug S.African trades at $91.50/T
LONDON, July 3 (Reuters) - Prompt South African FOB physical coal prices continued the rally begun last week to trade at $91.50 a tonne FOB Richards Bay on Friday, as traders bought to cover short positions at the same time as analysts were cutting their 2012 price forecasts.
"All the utilities are fairly long but even traders with some to sell aren't going to want to sell now when the market looks like it's rising," one major European trader said.
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