GLOBAL MARKETS-Shares nudge up, gains seen capped before China data
TOKYO, July 10 (Reuters) - Asian shares crawled higher after sharp losses the day before but gains were limited as investors, worried about a global economic deceleration, waited for Chinese trade data due later in the day that could set the tone for risk appetite.
"Import growth will be important and a reading above the 8-10 percent region would be supportive of commodity currencies," BNP Paribas analysts wrote in a client note.
COMMODITIES-Oil above $100 on Norway strike; soy at record highs
NEW YORK, July 9 (Reuters) - Commodities jumped on Monday, breaking from falling stock markets, as oil clambered back above $100 a barrel on threats Norway's oil industry was headed for shutdown and soybeans hit record highs on crop damage from heat.
"Commodities surely seem to be decoupling from the equity markets as investors concerns about the broader economy and potential monetary easing ar e d r iving them back into the security of hard assets," said Zachary Oxman, managing director with TrendMax in Encinitas, California.
OIL-Brent dips below $99 as Norway intervenes; China data eyed
TOKYO, July 10 (Reuters) - Brent crude fell below $99 a barrel as Norway's government intervened in a labor strike and ordered a last-minute settlement to prevent a full closure of its oil industry.
The strike over pensions, which began on June 24, had cut oil production from the world's No. 8 oil exporter by about 13 percent and kept oil prices on the boil.
Flagging world economy relying on unstable energy boost
LONDON, July 9 (Reuters) - As storm clouds gather over the global economy again at midyear, lower energy prices are one of the few flickering rays of light on the horizon - even if they too look increasingly ephemeral.
Economic activity and business and household confidence around the globe has tailed off badly again in the second quarter. The headwinds remain fierce, from imponderables related to the latest wave of the euro crisis and European banks' retrenchment to U.S. fiscal uncertainty and a spluttering of growth engines in the big emerging economies.
POLL-US crude stocks seen down on lower imports
July 9 (Reuters) - U.S. commercial crude oil stockpiles were forecast to have fallen for the third week in a row in the week to July 6 due to lower imports and higher refinery usage, a preliminary Reuters poll showed on Monday.
The six analysts polled forecast that domestic crude stocks fell by an average of 1.1 million barrels, with the biggest drawdown estimated at 3.0 million barrels.
Norway intervenes to avert oil industry closure
OSLO, July 10 (Reuters) - Norway's government ordered on Monday a last-minute settlement in a dispute between striking oil workers and employers in a move to alleviate market fears over a full closure of its oil industry and a steep cut in Europe's supplies.
The strike over pensions had kept crude prices on the boil with analysts expecting far quicker action by the government to stop the oil industry from locking out all offshore staff from their workplaces from midnight (2200 GMT) on Monday.
NATURAL GAS-US natgas futures end up 4 pct as forecasts turn warmer
NEW YORK, July 9 (Reuters) - U.S. natural gas futures ended higher on Monday, backed by technical buying after Friday's steep slide and slightly warmer extended weather forecasts that should stir more demand after a break this week from the recent heat wave.
"Today's price rally is a bit of short covering after Friday's decline coupled with a bit of positioning to what is likely to be a bullish injection report this week," Energy Management Institute's Dominick Chirichella said in a report.
EURO COAL-S.African prices dip, Aug trades at $88.50/T
LONDON, July 9 (Reuters) - Physical prompt coal prices fell slightly on Monday despite a rise in oil prices.
"The traders who had been buying most of the DES and Richards Bay cargoes haven't been much in evidence today but it is only Monday," one European trader said.
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