GLOBAL MARKETS-Shares, euro capped on Spain contagion fears, China PMI eyed
TOKYO, July 24 (Reuters) - Asian shares were capped after the previous day's deep losses as a surge in Spain's borrowing costs, to levels seen as unsustainable, triggered alarms indebted regions could push the euro zone's fourth-largest economy to seek a bailout.
"Rising yields are in turn adding to a sense of crisis: If the regions ask for cash, how will the government fund itself? The brave Spanish matador appears to be pinned to the perimeter fence by the angry bull," Wilkinson said.
COMMODITIES-Oil slides on Spain worry; grains slip on rain watch
NEW YORK, July 23 (Reuters) - Oil prices suffered their sharpest decline in a month on Monday, sliding 4 percent, and profit-taking also hit metals and other commodities after fear that Spain was headed for a bailout the euro zone couldn't afford.
"There are fears this could be the beginning of a domino effect, which ultimately leads to Spain having to join Greece, Portugal and Ireland in asking for an official rescue," said Carsten Fritsch, an energy analyst at Commerzbank in Frankfurt.
Nexen buy moves China into heart of global oil benchmark
--Robert Campbell is a Reuters market analyst. The views expressed are his own--
NEW YORK, July 23 (Reuters) - Chinese state-backed oil producer CNOOC Ltd will get more than just more crude oil assets with its $15.1 billion takeover of Canada's Nexen Inc .
The acquisition will also move CNOOC into the heart of the North Sea BFOE physical oil benchmark, giving a Chinese company for the first time unprecedented insight and access into this secretive, yet enormously influential market.
OIL-Oil falls, pressured by Spain, euro zone worries
NEW YORK, July 23 (Reuters) - Oil prices fell sharply on Monday, down a second straight day, a s worries that Spain is headed for a bailout and the euro zone debt crisis is spreading prompted investors to sell assets perceived as risky, boosting the dollar and U.S. debt.
"There are fears this could be the beginning of a domino effect, which ultimately leads to Spain having to join Greece, Portugal and Ireland in asking for an official rescue," said Carsten Fritsch, an energy analyst at Commerzbank in Frankfurt.
POLL-US crude stocks forecast flat, gasoline lower
July 23 (Reuters) - U.S. commercial crude oil stockpiles were forecast unchanged for the week to July 20 as a fall in imports was offset by lower utilization rates, while gasoline inventories were forecast to have dipped slightly, a preliminary Reuters poll showed on Monday.
Three analysts projected a rise while the other three expected a drawdown. In the week to July 13, stockpiles fell 809,000 barrels to 377.39 million barrels, data released by the EIA showed, while crude imports rose 311,000 barrels per day to 8.9 million bpd.
Asian dealmaking livens up dim oil earnings season
July 23 (Reuters) - A surprising $15 billion deal struck by China's CNOOC Ltd for a Canadian outfit operating in the backyards of the world's biggest oil companies could provide a key talking point as the majors report what will likely be subdued quarterly earnings.
Sustained production growth has long been elusive for the likes of Exxon Mobil Corp and Royal Dutch Shell Plc . CNOOC's proposed Nexen Inc takeover at a hefty 61 percent premium, announced earlier on Monday, sets an alarming benchmark for anyone seeking to buy their way into opportunities.
Nigeria's oil exports set to fall to 11-month low
GENEVA, July 23 (Reuters) - Top African oil producer Nigeria's loadings are set to fall to 1.81 million barrels per day (bpd) in September, a provisional loading programme showed on Monday, leaving exports at an 11-month low.
The OPEC producer's exports have mostly been around 2 million bpd so far this year, helped by the new Usan grade which began production in February.
NATURAL GAS-US natgas futures end up for 4th day, front at 7-mth high
NEW YORK, July 23 (Reuters) - U.S. natural gas futures ended higher on Monday for a fourth straight session, with bullish technicals and still-warm forecasts for the Northeast and Midwest driving the front-month contract to a seven-month high.
"The warmer than normal weather has helped, but we're seeing continued upside after breaking the January high and the 200-day moving average," said Matt Smith, commodity analyst at Summit Energy in Kentucky.
EURO COAL-Coal falls with world markets, China quiet
LONDON, July 23 (Reuters) - Physical prompt coal prices softened slightly on Monday on weaker oil and macro anxieties, traders and utilities said.
"Coal is doing what it usually does when there are few, clear signals, it looks at macro factors such as China, euro zone crisis and oil," one European trader said.
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