Friday, November 9, 2012

20121109 1458 Global Markets & Energy Related News.

GLOBAL MARKETS-Asian shares fall on US fiscal worries, European uncertainty
TOKYO, Nov 9 (Reuters) - Asian shares fell further, weighed down by worries over the risk of a recession in the world's largest economy as the United States faces a looming fiscal crisis, while Europe still awaits a bailout for Greece, keeping investor risk appetite subdued.
"Since the (U.S.) election, investor attention has turned to the U.S. fiscal cliff and the ongoing European financial situation," said Kim Soo-young, an analyst at KB Investment & Securities.

OIL - Oil rebounds after plunge, economy concerns limit rise
NEW YORK, Nov 8 (Reuters) - Crude oil ended higher on Thursday, recovering from a steep plunge in the previous session, but gains were only modest as trepidation over Europe's economy and looming negotiations over the U.S. "fiscal cliff" weighed on the market.
"The fears about Europe's economy remain and we still are worrying about the 'fiscal cliff' facing the United States," said Phil Flynn, analyst at Price Futures Group.

NATURAL GAS  - U.S. natgas futures end higher on weak inventory build
NEW YORK, Nov 8 (Reuters) - U.S. natural gas futures ended higher on Thursday, backed by a government report showing a lower-than-expected weekly inventory build and cooler forecasts for next week that should underpin demand.
"It was a positive number based on what people were expecting, and it looks like we're going to get another cold shot next week," a Chicago-based trader said.

EURO COAL-Firm on tight winter power outlook
LONDON, Nov 8 (Reuters) -European coal prices remained firm on Thursday as utilities in its biggest power markets prepared for a tight winter electricity market that would require increased burn of coal stocks, analysts said.
"There were a couple of reports today that Europe's winter power outlook could be tight even if the weather remains mild, and because gas-fired electricity production is not profitable in Europe that means that utilities will have to burn more coal, lifting demand," one utility analyst said.

No comments: