20120814 1103 Global Markets & Commodities Related News.

GLOBAL MARKETS-Shares steady in ranges before US, euro zone data
TOKYO, Aug 14 (Reuters) - Asian shares steadied on Tuesday with investors staying sidelined ahead of more figures from Europe and the United States later in the day, after recent data showed the euro zone's debt woes were eroding business activity
globally.
"One important channel by which news on GDP affects financial markets is its effect on policy. In the euro zone, where broad-based weakness of growth means that the ECB could easily justify further measures now if it so wished, we expect monetary policy to be loosened further in the months ahead," Barclays Capital said in a research note.

COMMODITIES-Grains lead retreat as growth worries revive
NEW YORK, Aug 13 (Reuters) - Pumped up grain prices led a broad retreat in commodity markets on Monday as downbeat economic signals from Japan and China weighed on riskier markets.
"There seems to be a general tone of weakness across a number of markets due to some weaker economic data, in particular the disappointing Chinese data," said Gayle Berry, an analyst at Barclays Capital.

OIL-Brent up on supply worry, economic concerns check gain
NEW YORK, Aug 13 (Reuters) - Brent crude prices rose on Monday in choppy trade, hitting a three-month peak on concerns about North Sea supply and Middle East tensions, while fears about a slowing global economy checked gains.
"The likelihood of some sort of intervention to stimulate economies is supporting the market," said Christopher Bellew, an oil broker at Jefferies Bache in London. "Also the North Sea, Iran and the Middle East are still a factor."

POLL-US crude stocks seen down on lower imports
Aug 13 (Reuters) - U.S. crude oil stockpiles were forecast to have declined  last week for a third straight week, on lower imports, a preliminary Reuters poll showed on Monday ahead of industry and government data due this week.
Crude inventories were projected to have fallen by 1.6 million barrels in the week to Aug. 10, according to the survey of seven analysts. All of them expected a drawdown.ž

Russia says new U.S. sanctions on Iran could affect ties
MOSCOW, Aug 13 (Reuters) - Russia sharply criticised new U.S. sanctions against Iran on Monday, saying the measures to punish banks, insurance companies and shippers that help Iran sell its oil would harm Moscow's ties with Washington if Russian firms are affected.
Russia, which has long opposed sanctions beyond those approved by the U.N. Security Council to pressure Tehran over its nuclear programme, called the measures "overt blackmail" and a "crude contradiction of international law."

NATURAL GAS-US natgas futures end down on weather, hold key support
NEW YORK, Aug 13 (Reuters) - U.S. natural gas futures ended lower on Monday for the third time in four sessions, pressured by milder weather forecasts this week, but technical traders noted the front contract held above key chart support.
"I think we're in a neutral to negative market. We were looking at $2.71 as a decision point, but now I think it will take a close below $2.64 to give the market a more bearish tone," said Dean Rogers, analyst at Kase & Co in New Mexico.

EURO COAL-Prices creep 25 cents higher with oil, gas
LONDON, Aug 13 (Reuters) - Physical prompt South African coal prices rose marginally by around 25 cents to $91.25 a tonne on Monday, in line with oil's rally to its highest level since May and stronger gas prices.
"With the railway out of operation, coal exports have ceased and inventory at the mine loadout facility has reached full capacity," Drummond said.