GLOBAL MARKETS: Stocks take China tightening in stride
HONG KONG, April 18 (Reuters) - Shares in Asia's developed markets edged up as investors bet that China's latest round of policy tightening would not derail hopes of a sustained economic recovery, while the high-yielding Kiwi dollar fell nearly a percent after inflation data.
"The market will probably open carefully today as it's near a record high, and positive momentum currently is a bit weak with China's policy moves," said Kim Soo-young, a market analyst at KB Investment & Securities.
OIL: Crude lower toward $109/bbl after 3-day gains
TOKYO, April 18 (Reuters) - U.S. crude futures headed lower on Monday towards $109 a barrel, after three days of gains, despite comments by Saudi Arabia confirming a cut in crude production to counter an oversupplied market.
Saudi Arabia's oil minister said on Sunday the kingdom had slashed output by 800,000 barrels per day in March due to oversupply, sending the strongest signal yet that OPEC will not act to quell soaring prices.
NATURAL GAS: Natgas ends choppy day easier on mild forecast
NEW YORK, April 15 (Reuters) - U.S. natural gas futures ended down slightly on Friday in a seesaw session, with short covering and firmer cash prices ahead of a cool weekend offset by milder Northeast and Midwest weather expected next week.
"I think the market was consolidating today after recent gains. We could move higher on concerns about upcoming heat and hurricanes, but it's going to be choppy," a southern-based commodity trading advisor said, noting temperatures were gradually warming to levels that will slow overall demand.
EURO COAL: Euro Coal-Prices rise slightly with oil, gas
LONDON, April 15 (Reuters) - Physical coal and coal swaps rose by around 25 U.S. cents to $1.00 on Friday, in line with stronger oil prices and boosted by a statement by German Chancellor Angela Merkel on nuclear power which was long-term bullish for coal.
"I'm still extremely bearish as far as European coal is concerned but the whole energy complex was stronger today and coal had to follow," one European trader said.
COMMODITIES: Gold at record, oil up despite Goldman
NEW YORK, April 15 (Reuters) - Gold hit record highs on Friday on inflation worries sparked by costlier commodities, and oil rose as well, bucking calls from influential trader Goldman Sachs for a sell-off.
"The big elephant in the room is Goldman and ... it appears Goldman has lost their bull flavor," said Don Roose, grains analyst at U.S. Commodities in Des Moines, Iowa.
Saudi slashes oil output, says market oversupplied
KUWAIT, April 17 (Reuters) - Saudi Arabia's oil minister said on Sunday the kingdom had slashed output by 800,000 barrels per day in March due to oversupply, sending the strongest signal yet that OPEC will not act to quell soaring prices.
Consumers have urged the exporters' group to pump more crude to put a cap on oil, which surged to more than $127 a barrel this month, its highest level in 2 1/2 years amid unrest in North Africa and the Middle East.
Iran oil supply stable, payment talks ongoing: India
KUWAIT, April 17 (Reuters) - India continues to receive normal shipments of oil from Iran and discussions between the two countries are ongoing over how India will pay for its crude imports, the country's oil minister said on Sunday.
India has been searching for a permanent method to make payments to Iran for crude oil imports since its central bank scrapped a clearinghouse system in December.
1 comment:
Oversupply of is the not correct solution do down the oil prices and also it is only a temporary solution not for a long time so we need to develop other resources to bring the oil prices down for a long time and also if we use less oil that means if we used to go to our offices by using bikes not using cars and especially if we use electric bikes and electric cars then we down oil prices for a long time and also we can control pollution will also bring good effect on nature.
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