Monday, April 4, 2011

20110404 1108 Global Market & Commodities Related News.

GLOBAL MARKETS: Asia stocks hit 3-year high; euro extends gains
April 4 (Reuters) - Asian shares rose to their highest in nearly 3 years after strong jobs growth in the United States was seen as lifting the prospects for the global economy, and the euro hit an 11-month peak against the yen amid widespread expectations of a euro zone rate hike this week.
U.S. crude oil rose near its highest in 2-1/2 years as unrest in the Middle East and fighting in Libya stoked fears of supply disruptions.

Oil : Crude hovers at 2-1/2 yr peak on supply concern
SEOUL, April 4 (Reuters) - U.S. crude prices extended gains in early Asian trade on Monday as geopolitical unrest in the Middle East and Africa stoked concerns about oil supply.rr
Gulf Arab states voiced deep concern on Sunday over what they called Iranian interference in their affairs after Iran objected to the despatch of Saudi troops to Bahrain and a spying row raised tensions.

NATURAL GAS: Natural gas ends off slightly, milder weather nears
NEW YORK, April 1 (Reuters) - U.S. natural gas futures ended lower on Friday, pressured by milder Northeast and Midwest weather forecasts for next week and Thursday's bearish weekly inventory report.
"A coming break from the cold weather has inspired some profit-taking today. The contract looks softer, but the bulls haven't given up. We still have the hurdle of next week's large draw to ponder," Gelber & Associates analyst Pax Saunders said in a report.

COMMODITIES: Oil jumps, gold falls after strong U.S. jobs data
NEW YORK, April 1 (Reuters) - U.S. crude oil futures finished Friday with strong gains, jumping more than 1 percent after robust U.S. labor market data suggested healthy demand for fuel would continue, but that same sound reading sent investors holding gold as a safe haven running for the exits.
"It provides more evidence that the economy is gaining a self-sustaining momentum, but it also says we still have a long way to go," said Julia Coronado, a senior economist at BNP Paribas in New York.

Venezuela to send Argentina 12 mln barrels fuel from May
CARACAS, April 3 (Reuters) - Venezuela will send Argentina 12 million barrels of diesel and fuel oil starting in May, an official from Venezuela's state oil company PDVSA said on Sunday.
PDVSA trade and supplies chief Asdrubal Chavez said the Venezuelan shipments will include 9 million barrels of fuel oil and 3 million barrels of diesel.

Gas-sipping cars drive March US sales gain
DETROIT, April 1 (Reuters) - Sales of small cars raced ahead in March as buyers flocked to more fuel-efficient vehicles, a trend major U.S. automakers expect to persist if gasoline prices continue to rise.
In addition to gas-sipping cars, the improving U.S. job market helped most major automakers race past expectations for U.S. sales in March with the main exception being General Motors Co , which pulled back on its incentives.

Fears hit EU nuclear plans, boost gas prospects
BRUSSELS/VIENNA, April 1 (Reuters) - Japan's nuclear crisis will speed the elimination of nuclear power from some European countries and render many planned projects too risky, ultimately increasing Europe's dependence on gas.
The depth of change, however, still depends on how quickly Japan can stabilise the crippled Fukushima nuclear plant.

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