Thursday, September 13, 2012

20120913 1112 Global Markets & Energy Related News.

GLOBAL MARKETS-Asian shares ease on caution before Fed decision
TOKYO, Sept 13 (Reuters) - Asian shares eased ahead of the U.S. Federal Reserve's decision later in the day, but investors remained optimistic of further stimulus action to bolster the world's largest economy.
"With key events in Europe behind us for the moment, all eyes now shift to the FOMC policy decision. We expect the Fed to extend its rate guidance into 2015 and launch an open-ended asset purchase program," said Barclays Capital in a note.

OIL-Brent up on German ruling, but EIA data curbs rise
NEW YORK, Sept 12 (Reuters) - Brent oil futures rose on Wednesday as a German court ruling affirming the legality of the euro zone bailout fund combined with geopolitical concerns to lift oil prices before data showing a rise in U.S. crude stocks curbed gains.
"People are looking at the Fed and wondering whether they are really going to do quantitative (monetary) easing or just another form of stimulus," said Mark Waggoner, president at Excel Futures in Bend, Oregon.

U.S. crude stocks rise as imports jump-EIA    
NEW YORK, Sept 12 (Reuters) - U.S. crude oil stockpiles rose last week, with imports jumping and oil product stocks were mixed as refineries reduced utilization rates, government data showed on Wednesday.
Domestic stocks of crude, excluding oil held in the Strategic Petroleum Reserve, rose 1.99 million barrels to 359.09 million barrels in the week ended Sept. 7, the Energy Information Administration reported. Analysts polled by Reuters had forecast a draw of 2.6 million barrels.

U.S. says sanctions slash Iran's oil exports
NEW YORK, Sept 12 (Reuters) - U.S. economic sanctions against Iran have slashed the country's crude exports and oil revenue, the U.S. Treasury said on Wednesday as it vowed to keep up the pressure on Tehran to prevent the Iranian government from getting nuclear weapons.
Since the beginning of the year, the United States has threatened to block certain foreign financial entities from U.S. markets unless Iran's major trading partners reduced their purchases of Iranian crude.

Iran parks oil off Malaysia to dodge Western sanctions
LABUAN, Malaysia/SINGAPORE, Sept 13 (Reuters) - Iran is using a little-known port off the East Malaysia coast to hide millions of barrels of oil from Western sanctions, according to shipping data, industry sources and officials.
A Reuters examination of shipping movements and interviews shows how Iranian crude is shipped to the area and loaded on to empty vessels at night to await potential Asian buyers. Storing the oil on hired tankers operating under the Panamanian flag in the calm waters off the tax-haven port of Labuan - an offshore financial centre about the size of Manhattan - means Iran can keep its own fleet active and ensure the flow of oil money into its struggling economy.

NATURAL GAS-US natgas futures end up for 3rd day, focus on storage
NEW YORK, Sept 12 (Reuters) - U.S. natural gas futures closed higher for a third day on Wednesday in anticipation of a bullish weekly inventory report on Thursday, with the front contract setting a five-month high, despite moderating U.S. weather that should slow air conditioning use.
"Some of the storage estimates this week have been pretty low which helped juice the market up, but the weather going forward looks bearish," said Steve Mosley at SMC Advisory Services in Arkansas.

EURO COAL-DES ARA prices sag to $89.50/T
LONDON, Sept 12 (Reuters) - Physical coal prices fell by between 75 cents and $1.50 per tonne on Wednesday on tepid demand and growing offers for prompt shipment.
"There are plenty of offers, more than there were recently but not much is trading," one European trader said.

No comments: