Wednesday, October 17, 2012

20121017 1436 Global Markets & Energy Related News.

GLOBAL MARKETS-Asian shares, euro higher on US earnings, Spanish hopes
TOKYO, Oct 17 (Reuters) - Asian shares rose as strong U.S. earnings reports brightened investor mood, while the euro hit a one-month high against the dollar as Spain dodged a bullet when Moody's Investor Service kept Madrid's investment grade rating.
"The Kospi will attempt a second day of gains as the macro environment has improved. However, the rise will be capped by concerns about third quarter earnings," said Won Sang-pil, an analyst at Tongyang Securities, referring to Korean stocks.

OIL-Brent falls as Nov contract expires, U.S. crude higher
NEW YORK, Oct 16 (Reuters) - Brent crude prices fell on Tuesday as the front-month November contract expired ahead of weekly inventory reports expected to show U.S. crude oil inventories rose last week.
"Crude got a temporary boost on the expectations that Spain will ask for a bailout, and end the uncertainty, but the consensus is that inventory numbers are going to be bearish," said Phil Flynn, analyst at Price Futures Group in Chicago.

US crude stocks seen up on higher imports last week
Oct 16 (Reuters) - U.S. crude oil inventories were expected to have risen during the week to Oct. 12 due to an anticipated rise in imports, while weak demand likely helped boost gasoline stockpiles, a Reuters poll of analysts showed on Tuesday.
The poll of 10 analysts forecast a 1.7-million-barrel build in weekly U.S. crude stockpiles for the week ended Oct. 12. All but one analyst estimated  increases in crude inventories.

EU sanctions target Iran oil, gas, tanker companies
BRUSSELS, Oct 16 (Reuters) - European Union governments imposed sanctions on Tuesday against major Iranian state companies in the oil and gas industry, and strengthened restrictions on the central bank, cranking up financial pressure over Tehran's nuclear programme.
More than 30 firms and institutions were listed in the EU's Official Journal as targets for asset freezes in the EU, including the National Iranian Oil Company (NIOC), a large crude exporter, and the National Iranian Tanker Company (NITC).

NATURAL GAS-U.S. natgas futures end down second day on mild weather
NEW YORK, Oct 16 (Reuters) - U.S. natural gas futures slid more than 1 percent on Tuesday, extending losses to nearly 5 percent in the last two sessions, with milder weather forecast for much of the country and profit-taking cited for the back to back decline.
"The natural gas market was hit with an expected round of profit taking selling," said Energy Management Institute analyst Dominick Chirichella.

EURO COAL-Prices tick 25c/T higher, few trades seen
LONDON, Oct 16 (Reuters) - Prompt physical coal prices rose by around 25 cents on Tuesday after falling to fresh lows on the previous day but the market remained oversupplied, traders and utilities said.
"The whole energy complex rose in the afternoon but there was no fundamental reason for coal to strengthen. There are still a lot of offers out there," one European trader said.

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