Tuesday, October 23, 2012

20121023 1058 Global Markets & Energy Related News.

GLOBAL MARKETS-Asian shares edge higher, earnings caution caps
TOKYO, Oct 23 (Reuters) - Asian shares edged higher but sentiment was cautious, after global shares faltered overnight on weak corporate results and outlook, and with Asia's corporate reporting season underway.
"Local earnings will disappoint as Chinese growth did not pick up in third quarter as originally thought," said Kim Young-joon, an analyst at SK Securities, as Korean earnings season began.

Oil dips on economy worry, but supply fears support
NEW YORK, Oct 22 (Reuters) - Oil prices fell on Monday as economic concerns and expected production and pipeline restarts weighed on crude futures and offset support from fears the turmoil in the Middle East may threaten the region's supply.
"I think the outlook from Cat is weighing on the overall demand outlook for oil, helping to push prices lower," said John Kilduff, partner at Again Capital LLC in New York.

POLL-US crude stocks projected up for third straight week
Oct 22 (Reuters) - U.S. crude oil inventories likely rose for the third straight week on recovered imports, a preliminary Reuters poll of analysts showed on Monday.
Crude inventories were expected to have risen 1.7 million barrels for the week ended Oct. 19. All seven analysts saw a build in crude stockpiles.

NATURAL GAS - US natgas futures down 5 pct, first loss in 4 sessions
NEW YORK, Oct 22 (Reuters) - U.S. natural gas futures ended lower on Monday f or the first time in four sessions, p ressured by profit-taking after an early front-month run to a new 2012 high and by reports extended  forecasts for cold weather had  been revised to s lig htly milder.
" We saw a little profit taking after we hit the new high, then selling accelerated around noon," said Jonathan Lee at Ecova Inc., adding the slightly milder turn in computer weather projections at midday may have triggered the sharp sell-off.

Euro Coal-Creeps higher but no trades
LONDON, Oct 22 (Reuters) - Prompt physical coal prices moved marginally higher by 25-75 cents a tonne although no fresh trades were reported and demand remained tepid in Europe and Asia.
"Trading the DES ARA or Richards Bay markets via brokers or on screen offers very little in terms of profits, direct and bilateral deals are more attractive to us now," one European trader said.

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