GLOBAL MARKETS: Deficit-cutting plan boosts U.S. bonds, dollar
NEW YORK, April 13 (Reuters) - U.S. bonds and the dollar rose on Wednesday on hopes that President Barack Obama's $4 trillion deficit reduction plan would shore up the United States' credit-worthiness and the dollar's reserve status. "It's a positive from a credit and currency perspective. It's positive in the sense that the U.S. can (better) meet its obligations," said James Caron, global head of rates research at Morgan Stanley in New York.
OIL: Crude firms as demand concerns ease, Libya woes linger
TOKYO, April 14 (Reuters) - U.S. crude futures firmed on Thursday after data showing U.S. gasoline stockpiles plunged last week and lingering worries about the Libyan conflict helped their rebound from below $106 per barrel the previous day. U.S. crude fell more than $6 in the previous two sessions, driven by cautious comments from Goldman Sachs which said a robust crude rally looked overdone. The International Energy Agency and the Organization of Petroleum Exporting Countries also said expensive oil could hurt global demand.
High gas prices hurt US confidence, change habits
WASHINGTON, April 13 (Reuters) - Rising U.S. gasoline prices have damaged confidence in the country's future and forced Americans to change their spending habits and lifestyles, a Reuters/Ipsos poll released on Wednesday found.
The proportion of people who believe the United States is on the wrong track jumped 5 points to 69 percent from March, the poll found, the highest wrong-track figure in an Ipsos poll since President Barack Obama took office in January 2009.
Libyan rebels say oil exports vital
DOHA, April 13 (Reuters) - Rebels fighting to overthrow Muammar Gaddafi said on Wednesday they had to keep exporting oil to preserve what little cash they had and secure critically needed supplies for the civilian population.
The Libyan National Council (LNC), with the help of OPEC member Qatar has been able to export a "minimal" amount of crude oil and needs international help to continue overseas shipments, said spokesman Mahmud Awad Shammama.
NATURAL GAS: Natural gas ends higher, supply concerns limit gains
NEW YORK, April 13 (Reuters) - U.S. natural gas futures ended slightly higher on Wednesday, backed by cool weather forecasts for northern tier states, but concerns about high supplies continued to limit the upside. "The market was up a little, but I expect prices to stay around here for a while or even test slightly lower numbers, at least until we get more heat," a Texas-based producer said.
EURO COAL: S.African trades at premium to Newcastle
LONDON, April 13 (Reuters) - South African FOB Richards Bay coal prices have risen $2 a tonne above FOB Newcastle Australian prices for the first time in over 4 years and this is the clearest reflection of oversupply in the Pacific, traders and utilities said. "The German nukes shutdown had an impact because the Germans did have to quickly buy more coal to burn but they don't need much if anything now until the winter," one trader said.
COMMODITIES: Oil up, snapping 2 day loss; metals down
NEW YORK, April 13 (Reuters) - Oil rose for the first time in three days on Wednesday after inventory data showed that high gasoline prices yet to erode demand as feared, though metals prices fell again and crop markets settled mixed. "This is getting everyone in a panic," Bart Melek, TD Bank director of commodities at TD Financial Bank, said, referring to the inflation-fighting measures reportedly mulled by China, the world's largest commodities consumer.
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