20111114 1142 Global Market & Commodities Related News.

GLOBAL MARKETS-Stocks, euro rise on hopes of progress in Europe
SINGAPORE, Nov 14 (Reuters) - Asian stocks and the euro rose on Monday on hopes that new leaders in Italy and Greece will take decisive action to save their indebted nations from bankruptcy and fend off a wider financial meltdown in the euro zone.
"Everything went to plan if you like over the weekend, so we're seeing a positive reaction," said Michael Turner, strategist at RBC Capital Markets in Sydney.

COMMODITIES-Oil extends rally to near $100; most others up
NEW YORK, Nov 11 (Reuters) - Oil rose a second straight day on Friday, hitting nearly $100 before finishing off its highs to put it higher for the sixth consecutive week, as commodities gained from improved U.S. consumer sentiment and reduced euro zone jitters. "It's all a question of the bigger, wider macroeconomic story," said Gary Mead, analyst with VM Group, referring to moves in Italy to form a new government and tackle its public debt. "Risk aversion is still the name of the game for the speculative investor."

Oil up as EU jitters ease, U.S. consumers brighten
NEW YORK, Nov 11 (Reuters) - Oil prices rose on Friday, \reacting to steps by Italy and Greece to address their economic and political crises and to improved U.S. consumer sentiment.
"Oil prices continue to build on recent gains from the growing conclusion that the euro zone countries will get past the current debt crisis episode," said John Kilduff, partner at Again Capital LLC in New York.

Libya on oil contracts: we will favour our friends
DOHA, Nov 13 (Reuters) - Libya's new government will reward its friends once the oil producer begins awarding oil contracts in the aftermath of its civil war, the head of its National Oil Corporation (NOC) said on Sunday.
Libya is not expected to give any major new concessions until an elected administration takes over from the incoming transitional government, in about eight months time.

Russia's Surgut sees oil output rising in 2011-12
MOSCOW, Nov 12 (Reuters) - Russia's No.4 oil producer Surgutneftegaz  plans a modest oil output increase this and next year, its General Director Vladimir Bogdanov said on Saturday.
"(The output) will be more than last year. Next year... will also be a growth," he told journalists at the sidelines of a conference.

Indian state cos eye gasoline price cut next week-source
NEW DELHI, Nov 11 (Reuters) - Indian state-run retailers may cut gasoline prices from Nov. 16, an industry source said, the first cut in nearly three years and the first in the 18 months since the government ended controls.
The cut could be for at least 0.60 rupees a litre, or about 1 percent, the source said on Friday.

Natgas ends down for 3rd day on weather, storage
NEW YORK, Nov 11 (Reuters) - U.S. natural gas futures ended lower on Friday for a third straight day, with Thursday's bearish weekly inventory data and the milder change in computer weather models driving most months to new contract lows.
"The name of the game is weather. There's cold in western Canada but no mechanism to bring it down. Forecasts are still relatively mild for the next two weeks," said Steve Mosley at SMC Advisory Services in Arkansas.

Euro Coal-Prices rise 50 c/T with oil, euro gains
LONDON, Nov 11 (Reuters) - Prompt physical coal prices moved higher by a marginal 50 cents a tonne on Friday although few trades were reported, in line with gains in oil and the euro after Italy's Senate approved economic reforms aimed at restoring investor confidence.
"Generally it is looking more bearish, very little happening in Europe, India's not buying and Chinese interest is limited," one utility trader said.