20110804 1122 Global Market & Commodities Related News.

GLOBAL MARKETS: Risk assets steadier, but markets still fragile
SYDNEY, Aug 4 (Reuters) - Asian stocks struggled to follow a positive lead from Wall Street on Thursday as worries about global growth persisted, while news of a merger between two Japanese industrial giants helped the Nikkei steady from a two-day drop.
"We had some mixed data from the U.S. overnight, so investors want to wait for the non-farm payroll report on Friday to find out more about the state of the U.S. economy," Hiroki said.

OIL: Oil falls on U.S. inventory build, weak data
NEW YORK, Aug 3 (Reuters) - Oil prices fell sharply on Wednesday to the lowest level in a month, stung by an increase in U.S. petroleum inventories that raised concerns about oil demand.
"The EIA report was bearish with the across-the-board builds," said John Kilduff, partner for Again Capital LLC in New York.

NATURAL GAS: Natgas ends down with crude, milder northern temps
NEW YORK, Aug 3 (Reuters) - U.S. natural gas futures ended lower on Wednesday, as milder northern tier weather, weak economic data and a sharp slide in crude weighed on prices despite continued heat expected in the South and rising tropical activity that could eventually disrupt supplies.
"The sell off started when forecasts turned a little milder, but we got a wave of selling after the oil inventory report even though the two markets don't often trade together," said Ed Kennedy INTL Hencorp Futures in Miami, noting weather across northern tier states turned milder this week.

EURO COAL: S.African dips by $1.00/T
LONDON, Aug 3 (Reuters) - Prompt physical FOB Richards Bay prices fell in line with oil's sharp drop in early trading but DES ARA European prices had recovered most of the day's earlier losses by the afternoon.
"Coal swaps were aggressively sold off this morning but crept back to almost flat with the previous day's levels later on," one major bank trader said.

COMMODITIES: Weak US data pounds oil, copper; gold at new high
NEW YORK, Aug 3 (Reuters) - Oil prices fell on Wednesday for a fourth straight session and copper extended losses for a third running day as weak U.S. data prompted investors to fear a prolonged gloom in the world's largest economy.
Corn and wheat retreated from Tuesday's sharp rally as cooler weather in the U.S. Midwest offset worries about the impact of a recent heatwave on the region's crops.