GLOBAL MARKETS-Shares ease after Fed inaction and ahead of ECB
TOKYO, Aug 2 (Reuters) - Asian shares eased on Thursday as investors turned increasingly cautious as hopes of stimulus action by central banks thinned ahead of a European Central Bank's meeting later in the day and after the U.S. Federal Reserve took no action a day earlier.
"Expectations (of U.S. stimulus) weren't high but the market can't help but feel at least a little disappointed, although many investors are still willing to stay on the sidelines until the later ECB meeting provides a clearer direction," said Lee Young-gon, an analyst at Hana Daetoo Securities.
COMMODITIES-Oil up on US demand; focus on ECB as Fed disappoints
NEW YORK, Aug 1 (Reuters) - Oil closed higher on Wednesday for the first time this week after surprisingly high U.S. demand boosted crude prices, while grains markets fell as chances for rain in the U.S. Midwest snapped a drought-driven rally.
OIL-Oil ends up but pares gains after Fed statement
NEW YORK, Aug 1 (Reuters) - Oil futures ended up but off its highs in choppy trading on Wednesday after the U.S. Federal Reserve said the economy had lost some momentum but offered no new stimulus that could shore up growth and translate into higher fuel demand.
"Crude oil prices are adjusting as the Fed did not announce any new stimulus," said Dominick Chirichella, senior partner at Energy Management Institute in New York.
Erratic oil quality to play havoc with Brent in Sept
(Robert Campbell is a Reuters market analyst. The views expressed are his own)
NEW YORK, Aug 1 (Reuters) - Physical traders in the North Sea oil market are bracing for two more months of gyrating volume and quality of Forties Blend crude, a situation that some say leaves Brent exceptionally vulnerable to squeezes.
Forties typically sets the value of "Dated" Brent, which underlies the price of much of the oil traded worldwide.
NATURAL GAS-US natural gas futures end down again
NEW YORK, Aug 1 (Reuters) - U.S. natural gas futures ended lower on Wednesday on more profit taking after setting a 7-1/2-month high early the previous session and reports that some private forecasters had moderated their mid-August temperature outlooks.
"The market is correcting after the recent gains, and I think the heat is already priced in, so some people may be looking a little farther out," a Pennsylvania-based trader said, referring to the milder revisions to the 15-day forecast.
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