Tuesday, October 16, 2012

20121016 1114 Global Markets & Energy Related News.

GLOBAL MARKETS-Asian shares higher after U.S. data, Citi results
TOKYO, Oct 16 (Reuters) - Asian shares rose after rallies in U.S. stocks and positive U.S. data cheered investor mood, with hopes for some progress in the euro zone debt crisis also helping to underpin sentiment.  
"Citigroup's earnings yesterday reinforced the confidence in the health of big firms, and the markets responded. U.S. investors had been extremely cautious, but with the stream of good data, such as in retail sales data and corporate earnings, fears seem eased for now," said Ryoo Yong-suk, an analyst at Hyundai Securities.

U.S. crude oil exports may be inevitable
--John Kemp is a Reuters market analyst. The views expressed are his own--
LONDON, Oct 15 (Reuters) - Requests from Shell, BP and Vitol, among others, to start sending substantial amounts of U.S. crude to refineries in Canada have hit the headlines, as oil producers try to find outlets for surging production of light oil from North Dakota and elsewhere by easing decades-old restrictions on exporting domestically produced crude .
Less well-known is that record volumes of light hydrocarbons such as propane, butane and pentane are already being exported, as oil and gas producers seek alternative markets for the prodigious quantity of natural gas liquids (NGLs) now being produced alongside oil and gas from shale formations.

POLL-U.S. crude stocks seen up on higher imports last week
Oct 15 (Reuters) - U.S. crude oil inventories were expected to have risen for the week to Oct. 12 due to an anticipated rise in imports, while weak demand was seen lifting gasoline stockpiles, a preliminary Reuters poll of analysts showed on Monday.
The poll of seven analysts forecast a 1.5 million barrel build in weekly U.S. crude stockpiles for the week ended Oct. 12. All but one analyst estimated an increase in crude inventories.

OIL-Nearing expiry, Brent Nov. crude rises on N. Sea delay
NEW YORK, Oct 15 (Reuters) - Brent crude Prices rallied on Monday on support from North Sea production delays and skepticism about an offer from Iran to negotiate the halting of higher grade uranium enrichment that put pressure on oil prices during the session.
"The talk that Iran might be ready to halt uranium enrichment to get out of sanctions provided some pressure, but skepticism about any talks and the stock market moving higher pulled U.S. crude back up," said Mark Waggoner, president at Excel Futures Inc.

NATURAL GAS-U.S. gas futures end down 4 pct, first loss in six sessions
NEW YORK, Oct 15 (Reuters) - U.S. natural gas futures slid n early 4 percent on Monday, pressured for the first time in six tr ading days by milder weather forecasts and profit-taking afte r the front month rose to a 201 2 high last week.
"Natural gas is under selling pressure based on moderating temperatures and considering it's had a nice run of late," said Jay Levine, broker at enerjay, LLC in Portland, Maine.

EURO COAL-Prices fall to fresh lows, seen dropping more
LONDON, Oct 15 (Reuters) - Prompt physical coal prices fell by around $2 a tonne on Monday although few trades were reported.
"November loading Richards Bay cargoes were offered at $80 after the trade. There are several firms offering," one European trader said.

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