GLOBAL MARKETS-Asian shares rise on Greece hopes, confidence vote eyed
TOKYO, Nov 4 (Reuters) - Asian shares rose and the euro steadied on Friday on hopes Greece will abandon a proposed referendum over a euro-zone bailout but investors remained cautious over a confidence vote later in the day in the Greek parliament.
"The market regained some calm but uncertainty remains over the outcome of today's confidence vote," said Yuji Saito, director of the foreign exchange division at Credit Agricole Bank in Tokyo.
COMMODITIES-Markets jump on hopes Greece will ditch referendum
NEW YORK, Nov 3 (Reuters) - Oil prices jumped almost 2 percent on Thursday and most metals and crops rallied too, buoyed by hopes that Greece will abandon a referendum threatening to scuttle euro zone aid for the country.
"All eyes are on Europe," said James Cordier, senior analyst for commodity brokers Optionsellers.com in Florida.
Oil rises on Greece hopes, surprise ECB rate cut
NEW YORK, Nov 3 (Reuters) - Oil prices rose on Thursday as Greece's government backed away from a proposed referendum on staying in the euro and a rate cut from the European Central Bank raised hopes for an easing of the region's debt crisis.
"There was a more positive tone on the market, with the surprise ECB move and later on the developments in Greece that pulled up the euro," said Matt Smith, analyst at Summit Energy in Louisville, Kentucky.
China oil firms to conditionally set fuel prices -paper
BEIJING, Nov 4 (Reuters) - Chinese oil firms may be allowed to adjust refined oil products prices by themselves in line with a government-set pricing formula when crude oil prices fluctuate within a certain price range, the China Securities Journal reported on Friday.
The newspaper report did not specify the range.
Canadian oil and gas drilling set to rise 10 pct
CALGARY, Alberta, Nov 3 (Reuters) - Canadian oil and natural gas drilling will rise 10 percent next year as producers take advantage of strong oil prices, the Petroleum Services Association of Canada said in its annual forecast, released on Thursday.
The association expects 15,100 wells to be drilled in Canada next year, up from the 13,700 wells it estimates will be completed in 2011.
Canada oil profits up on prices, oil sands output
CALGARY, Alberta, Nov 3 (Reuters) - High oil prices and rising oil sands production bolstered quarterly profits at Suncor Energy Inc and Canadian Natural Resources Ltd , Canada's two largest oil companies, while output at Husky Energy Inc's offshore fields rose.
Earnings reports from the three companies on Thursday sparked a jump in their share prices, with Canadian Natural surging nearly 8 percent on production gains and a rosy outlook for 2012 output.
Greek turmoil threatens Europe's gas pipe projects
LONDON, Nov 3 (Reuters) - Turmoil in Athens threatens plans to bring central Asian gas into Europe through Greece and will slow efforts to reform the country's energy sector.
Two out of three international consortia -- TAP and ITGI -- that are competing to build the infrastructure to carry gas from Azerbaijan's Shah Deniz II gas field to Europe plan to pass through debt-ridden Greece and through Italy into the rest of Europe.
Natural gas ends up, shorts cover despite EIA build
NEW YORK, Nov 3 (Reuters) - Front-month U.S. natural gas futures ended higher on Thursday as shorts rushed to cover after downside momentum quickly stalled despite a government report showing a weekly inventory build above expectations.
"We had a bearish (EIA storage) number, a little larger than expected, but there was no follow through to the downside, so people who sold it started to cover," said Tom Saal, senior vice president at INTL Hencorp Futures in Miami.
Euro Coal-Prices steady, no fresh trades done
LONDON, Nov 3 (Reuters) - Prompt physical coal prices held steady on Thursday, supported by oil's rise but activity in general was low, primarily because Chinese importers have all but halted fresh buying.
"Prices CIF China and FOB have come down at least $8.00, maybe $10 in the past month and that is largely due to the problems the Chinese are having with credit but we haven't had a single request for delayed shipment or cancellation - they want the coal and don't seem to be playing price games," one utility trader said.
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