GLOBAL MARKETS-Shares, euro pressured as Spain stokes bailout fears
TOKYO, July 23 (Reuters) - Shares fell and the euro stayed vulnerable after hitting fresh lows early in Asia, as concerns grew about Spain's ability to stave off a sovereign bailout.
"There is nothing good from Europe and that keeps the euro under pressure, especially the first half of the week when we have euro zone data," such as consumer confidence and manufacturing, said Yuji Saito, director of foreign exchange at Credit Agricole Bank in Tokyo.
COMMODITIES-Soy, corn extend highs; oil down but up on week
NEW YORK, July 20 (Reuters) - U.S. soybean and corn prices extended their record highs o n F riday from the crop damage in America's drought-baked heartland, while oil and copper markets fell on renewed worries about European debt.
"Everything today is focused on the weather for soybeans," said Karl Setzer, analyst at MaxYield Cooperative in West Bend, Iowa. "Historically, August is when the soy yield is determined, but because everything is early this year, we are seeing the buying interest show up earlier."
The July Brent oil rally and the Urals crunch
--Robert Campbell is a Reuters market analyst. The views expressed are his own--
NEW YORK, July 20 (Reuters) - Oil analysts have struggled to explain the strong rally in Brent crude oil futures since the start of July but none of the macro-level explanations make sense without a look at the underlying physical market mechanics.
To be sure, there must be some sort of "risk-on" element as oil is not the only market rising. Equities have gained as well even as economic data suggest a slowing global economy
OIL-Oil falls as Europe debt woes revive economic fear
NEW YORK, July 20 (Reuters) - Oil prices fell on Friday, snapping a string of seven straight higher settlements, as the euro zone debt crisis brought economic concerns back in focus and strengthened the dollar.
"The dollar spiking higher versus the euro on Spain banks needing help pushed oil lower. Some geopolitical fatigue seemed to emerge as well, with the rumours about Assad taking a deal. Looks like if he goes we will get a selloff," said John Kilduff, partner at Again Capital LLC in New York.
US oil below $80 could slow shale oil drilling boom-Baker Hughes
NEW YORK, July 20 (Reuters) - Leading oil services firm Baker Hughes Inc warned on Friday that booming drilling in the shale oil fields of North Dakota and even south Texas could slow if U.S. prices drop below $80 a barrel.
While it has been clear for months that the pull-back in oil prices and searing costs have begun to temper the race to tap into the country's shale oil plays, Baker Hughes CEO Martin Craighead's comments were the bluntest yet to suggest that crude oil prices are already hovering near a key break point.
Sudan fuel subsidy not fully lifted until end 2013
KHARTOUM, July 22 (Reuters) - Sudan will not fully remove fuel subsidies until the end of 2013 since austerity measures worth 7 billion Sudanese pounds ($1.5 billion) are sufficient to turn around the ailing economy, a senior ruling party official said on Sunday.
The Arab African country is struggling with a worsening economic crisis after losing much of its oil wealth - the main source for revenues and dollars needed for imports - when South Sudan became independent last year.
NATURAL GAS-US natural gas futures end up, front hits 6-1/2-mth high
NEW YORK, July 20 (Reuters) - U.S. natural gas futures ended higher on Friday for a third straight session, with bullish weekly inventory data and still-warm forecasts for the Northeast and Midwest driving the front-month contract to a fresh 6-1/2-month high.
"We've got forecasts for warmer than normal temperatures for the next two weeks, and we continue to see a constructive trend in storage (declining surplus)," Citi Futures Perspective analyst Tim Evans told Reuters.
EURO COAL-Physical prices rise, China returns to spot market
LONDON, July 20 (Reuters) - Physical prompt coal prices rose slightly on Friday in thin trade on steady demand from Asia and China's return to the spot market.
"Prices are still in a range, tracking oil to a degree but overall it's typically-slow summer trading," one European trader said.
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