Wednesday, October 10, 2012

20121010 1455 Global Markets & Energy Related News.

GLOBAL MARKETS-Asia shares fall as economy gloom hits techs, miners
Asian shares fell, led by losses in technology and materials stocks after brokerage downgrades for top chip maker Intel Corp  and a warning from global miner Rio Tinto  about the uncertain near-term outlook.
"History is not on the side of those who expect the market to continue to prosper once the earnings cycle has turned," said John Higgins, senior markets economist at Capital Economics, in a note.

OIL-Oil rises 2 pct on Mideast tension, Saudi comments eyed
Oil prices jumped, snapping two sessions of losses, as escalating turmoil on the border of Turkey and Syria heightened concerns of a supply disruption in a tense Middle East.
"Oil product inventories are also an issue for the market," said Tim Evans, energy analyst at Citi Futures Perspective, commenting on why U.S. crude prices outpaced Brent's rise in midday trading in New York.
"Gasoline inventories nationally are barely above the level of September the 21st, which was the lowest since October 2008."

POLL-US crude stocks seen rising on higher imports last week
Oct 9 (Reuters) - U.S. crude oil inventories were expected to have risen last week on additional imports, after two straight weeks of declines, a preliminary Reuters poll of analysts showed on Tuesday.
The poll of 11 analysts forecast weekly U.S. stockpiles data would show crude inventories up 1 million barrels for week ended Oct. 5. Nine analysts predicted a build in stockpiles in the data, delayed by one day this week due to the Columbus Day holiday on Monday.

NATURAL GAS-Change in computer weather models firms US natgas futures
U.S. natural gas futures reversed course and ended higher after early selling, backed by a colder turn in computer weather model projections released at midday.
"It's all about weather, and it looks like the noon (computer) run turned a bit colder for the 11- to 15-day forecast," a New York-based trader said.

EURO COAL-Prices rise slightly despite heavy swaps selling
Prompt physical coal prices rose by 25-60 U.S. cents a tonne on Tuesday, with few trades reported.
Reports that one-third of striking truck drivers in South Africa have returned to work eased some of the concerns in the swaps market that wildcat strikes could spread to coal and disrupt exports.
"Some of the (South African) strikers are going back to work and there's much less anxiety in the market now, and you can see that in the swaps selling," one trader said.

No comments: