20110812 1131 Global Market & Commodities Related News.

GLOBAL MARKETS: Asia stocks up with near-term focus on value
SINGAPORE, Aug 12 (Reuters) - Asian stocks edged up on Friday, as investors hunted for value after an intense week of volatility, though the festering European financial crisis may mean that havens like gold and the Swiss franc may still draw buyers.
"The rebound is a little lukewarm as investors want to lighten their positions and take profits ahead of the weekend after a very turbulent week," said Mitsuo Shimizu, deputy general manager at Cosmo Securities in Tokyo.

OIL: Oil rises second day, U.S. jobs data lifts
NEW YORK, Aug 11 (Reuters) - Oil prices rose for a second straight day on Thursday, gaining as much as 3 percent as a strong U.S. jobs report trumped early concerns about French banks and fears that Europe's debt crisis will spread.
"Relative calm over the French bank situation is giving equities and overall sentiment a lift, which has pushed crude prices higher on lessened demand contraction fears," said John Kilduff, partner at hedge fund Again Capital LLC in New York.

OPEC exports to fall in 4 weeks to Aug 27 -analyst
LONDON, Aug 11 (Reuters) - Seaborne oil exports from OPEC, excluding Angola and Ecuador, will fall by 60,000 barrels per day (bpd) in the four weeks to Aug. 27, an analyst who estimates future shipments said on Thursday.      
Exports will fall to 22.71 million bpd on average from 22.77 million bpd in the four weeks to July 30, UK consultancy Oil Movements said in its latest weekly estimate.

Venezuela oil output dips to 2.77 mln bpd in June
CARACAS, Aug 11 (Reuters) - Venezuela's oil production fell to 2.77 million barrels per day (bpd) in June from 2.79 million bpd the month before, the oil ministry said on Thursday.
The South American OPEC member said exports of crude and products also declined to 2.41 million bpd in June from 2.48 million bpd during May.

NATURAL GAS: NYMEX - Natural gas reverses course, ends up on bullish EIAs
NEW YORK, Aug 11 (Reuters) - Front-month U.S. natural gas futures ended higher on Thursday after some early selling, lifted by a government report showing a weekly inventory build well below market expectations.
"It was a shocking (EIA build) number, but the weather has gotten a little milder, and the economic picture doesn't look that good. This was only one data point, so I wouldn't get too bullish," a Massachusetts-based trader said.

EURO COAL: Prices pare gains after oil pullback
LONDON, Aug 11 (Reuters) - Prompt physical coal prices softened on Thursday, paring gains notched up earlier in the day after oil moved lower.
"It's been quite quiet this afternoon after a bit of action this morning," said a coal trader in Europe. "It's been quite a disjointed market and people are struggling to find direction."

COMMODITIES: Oil surges 2nd day; CRB up most since May
NEW YORK, Aug 11 (Reuters) - Commodities jumped on Thursday, posting their largest gain in nearly three months as oil rallied for a second straight day and corn hit limit highs due to squeezed crop production from a U.S. heatwave.
"Investors are more confident that there is a floor in place in corn. More importantly, speculators view a more explosive price scenario as more possible than they had before," said Adam Tepper, analyst at Arlon Group, an agriculture-focused investment company.