20110819 1143 Global Market & Commodities Related News.

GLOBAL MARKETS-Stocks slump on recession fears, gold jumps
SINGAPORE, Aug 19 (Reuters) - Asian stocks tumbled as much as 4 percent on Friday on growing fears that the U.S. economy was sliding into recession and as some European lenders faced short-term funding strains, raising fears of a systemic banking crisis on the continent. Gold hit a fresh high of $1,833.81 an ounce as investors rushed into the safe-haven after heavy losses on U.S. and European markets overnight.
"Investors have been spooked by these data. They are now focusing on next week's data such as U.S. GDP," said Yumi Nishimura, a senior market analyst at Daiwa Securities.

Brent oil drops nearly $4 as recession fears grow
NEW YORK, Aug 18 (Reuters) - Brent crude oil fell nearly $4 a barrel on Thursday as a raft of weak U.S. economic data provided a fresh blow to shaky investor confidence, while U.S. crude's losses extended to 14 percent so far in August.
"It's much of the same -- concerns over European banks, U.S. deficits weighing on economic growth and the possibility of a global recession as the end result," said Chris Jarvis, senior analyst for Caprock Risk Management in Hampton Falls, New Hampshire.

US oil speculative data released by Senator, sparking ire
WASHINGTON, Aug 18 (Reuters) - Oil trading data that exposed the extensive positions speculators held in the run-up to record high prices in 2008 were intentionally leaked by a U.S. senator, sparking broader concern about industry confidentiality as Congress moves on Wall Street reform.
Senator Bernie Sanders, a staunch critic of oil speculators, leaked the information to a major newspaper in a move that has unsettled both regulators and Wall Street alike.

NYMEX-Natural gas ends down, hits 5-month low after EIAs
NEW YORK, Aug 18 (Reuters) - U.S. natural gas futures ended lower on Thursday for the fourth time in five sessions, with the front-month contract diving to its lowest since mid-March  after a government report showed a weekly inventory build slightly above market expectations.
"(The EIA build) was in line with our expectations, but it was still bearish relative to last year and the five-year average. (EIA data) continues to show that this is a well supplied market," said Eric Bickel, analyst at Summit Energy.

Euro Coal-Futures sustain slight downward trend
LONDON, Aug 18 (Reuters) - European coal futures fell on Thursday, sustaining a slow downward trend that began this month as economic uncertainties around the world hamper the outlook for coal demand in 2012.
"Coal is the most important fuel for electricity, and electricity is an important measure for industrial activity, so if the economic outlook is uncertain, coal prices are immediately affected," one coal trader with a bank said.

COMMODITIES-Markets close with biggest drop since US downgrade
NEW YORK, Aug 18 (Reuters) - Oil closed down 6 percent on Thursday, tumbling with other commodities that reflect investors' risk appetite as renewed economic fears triggered the biggest losses since the Aug. 5 U.S. credit downgrade.
"It's much of the same -- concerns over European banks, U.S. deficits weighing on economic growth and the possibility of a global recession as the end result," said Chris Jarvis, senior analyst for Caprock Risk Management in Hampton Falls, New Hampshire.

PIMCO sees commodities rising, sticks with oil
CHICAGO, Aug 18 (Reuters) - Pimco has largely stuck with its positions in the oil market despite the recent slide and expected commodities prices to rise in the longer term, the manager of its largest commodity mutual fund said on Thursday.
Mihir Worah, who manages the $26.9 billion Pacific Investment Management Co's Commodity Real Return Strategy Fund, said the fund had, however, taken measures to protect against an expected slowdown in the U.S. economy and avert risk.