Thursday, November 8, 2012

20121108 1106 Global Markets & Energy Related News.

GLOBAL MARKETS-Asian shares fall on worry over U.S. fiscal cliff  
TOKYO, Nov 8 (Reuters) - Asian shares fell as investors worried about the fiscal crisis in the United States and the European economy's further deterioration, underpinning safe-haven currencies such as the yen and dollar.
"The general trend of  weaker equities, higher bond prices and a weaker dollar will likely continue," said Kazuto Uchida, an executive officer and general manager of the global markets division at the Bank of Tokyo-Mitsubishi UFJ.

Obama to weigh energy boom, climate change in 2nd term
WASHINGTON, Nov 7 (Reuters) - President Barack Obama will face a two-fold challenge in energy policy in his second term: make good on his promise to act on climate change, while at the same time foster growth in oil and gas production that has spurred jobs and manufacturing.
That could mean a revival of regulations for producing and burning natural gas, coal and oil that had been on hold during the election, and possibly some new rules for hydraulic fracturing, or "fracking," the water and chemical-intensive technique used to extract gas and oil from deep within shale beds.

OIL- Oil down about 4 pct, fiscal cliff looms after US vote
NEW YORK, Nov 7 (Reuters) - Brent crude fell nearly 4 percent on Wednesday as problems facing the economies of the United States and Europe darkened investor sentiment a day after the re-election of U.S. President Barack Obama.
"The market is definitely sliding with the equities, it feels like a risk-off trade," said Richard Ilczyszyn, Chief market strategist and founder of LLC in Chicago.  

NATURAL GAS - Milder weather forecast drives US natgas futures lower
NEW YORK, Nov 7 (Reuters) - U.S. natural gas futures ended lower on Wednesday as milder weather forecasts for later this week and early next week weighed on prices despite chilly near-term temperatures that have stirred more heating demand.
"It looks like the weather forecasts are trending bearish, so prices were down a little, but cash has been holding up pretty well, and people are expecting a light inventory build," said Steve Mosley at SMC Advisory Services.

EURO COAL-Dips on South African mining wage deal
LONDON, Nov 7 (Reuters) - South African physical coal prices eased on Wednesday as coal companies there signed a wage deal with unions in an effort to avoid a wave of illegal strikes that have rocked the gold and platinum sectors.
Traders said that the drop in prices was a result of South Africa's coal mining wage deal, which saw the Chamber of Mines agreeing to raise certain entry-level wages by up to 5 percent and offered one-off payments to higher categories of workers.

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