Wednesday, October 24, 2012

20121024 1104 Global Markets & Energy Related News.

GLOBAL MARKETS-Asian shares slip, focus on China data
TOKYO, Oct 24 (Reuters) - Asian shares faltered while the yen firmed as investors maintained their risk aversive, spurred by continued weak corporate earnings results worldwide and worries about economic slowdowns.
"With uncertainty in global markets, investor concern is growing about the growth prospects of large-cap companies," said Park Jung-sup, an analyst at Daishin Securities, of Korean equities market.

Oil slumps on growth concerns, corporate forecast cuts
NEW YORK, Oct 23 (Reuters) - Oil prices fell sharply on Tuesday as slowing global economic growth, Europe's continuing debt crisis and weak earnings forecasts from U.S. corporations pressured commodities and equities.
"The main bearish driver is the state of the economy," said Filip Petersson, an analyst at SEB in Stockholm. "And that's taken all markets down quite a bit."

Iran says may stop oil sales if sanctions tighten
DUBAI, Oct 23 (Reuters) - Iran said on Tuesday it would stop oil exports if pressure from Western sanctions got any tighter and that it had a "Plan B" contingency strategy to survive without oil revenues.
Western nations led by the United States have imposed tough sanctions on the Islamic Republic this year in an attempt to curb its nuclear programme that they say is designed to produce atomic weapons. Tehran says its nuclear plans are peaceful.

POLL-US crude stocks projected up for third straight week
Oct 23 (Reuters) - U.S. crude oil inventories are expected to have risen for a third straight week on a recovery in imports, an extended Reuters poll of analysts showed on Tuesday.
Crude inventories are seen 1.9 million barrels higher for the week ended Oct. 19. All 13 analysts forecast a build in crude stockpiles.

NATURAL GAS - U.S. natgas futures rebound 2 pct after Monday slide
NEW YORK, Oct 23 (Reuters) - U.S. natural gas futures ended higher on Tuesday, underpinned by technical buying after Monday's steep slide and by colder Northeast and Midwest weather forecasts for later this week and next that should stir more heating demand.
"Prices moved up today on some bargain hunting near the bottom of the recent range and on a cooler forecast than what was indicated on Monday, but the market has been range bound for most of the month," said Aaron Calder, market analyst at Gelber & Associates in Houston.

Euro Coal-Euro Coal-Prices fall $1/T with oil
LONDON, Oct 23 (Reuters) - Prompt physical coal prices dropped by up to $1.00 a tonne on Tuesday in line with oil's $2 a barrel fall on concerns about slowing economic growth and the eurozone debt crisis.
"We're either at the bottom of the market yet or very close to it," one producer said.

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