GLOBAL MARKETS-Shares pause from rally, euro eases before ECB decision
TOKYO, July 5 (Reuters) - Asian shares eased as markets awaited the European Central Bank's policy decision later in the day, while the euro was pressured by widespread expectations of a rate cut to support fragile euro zone growth.
"With a lack of cues from the U.S. market which was closed overnight and the market waiting to see what cards the ECB will put on the table, trading looks to be constrained and aimless today," said Lee Young-gon, an analyst at Hana Daetoo Securities.
OIL-Oil slides below $100, focus on grim economy
LONDON, July 4 (Reuters) - Benchmark oil prices fell back below $100 a barrel on Wednesday, after a sharp gain the previous day, as new evidence of grim economic conditions in Europe offset expectations of fresh stimulus measures.
"After a strong rally yesterday, with the U.S. liquidity out of the market, the market is moving to a level that is easier to defend," Filip Petersson, an analyst at SEB in Stockholm, said.
POLL-China's top refineries cut July throughput on weak demand
BEIJING, July 4 (Reuters) - Top Chinese refineries will cut crude oil processing runs in July, following gains in the previous two months, as sluggish demand, poor refining margins and high fuel stocks hurt operations, a Reuters poll showed.
The 12 plants, which make up nearly a third of the capacity in China, the world's No.2 oil consumer, are located mostly in coastal areas, and plan to process 2.88 million barrels per day (bpd) of crude oil this month, the poll showed.
Japan to import no Iranian oil in July-sources
TOKYO, July 4 (Reuters) - Japan will not import any Iranian crude in July as buyers held back to avoid any risk of running foul of EU sanctions targeting insurance, which have severely disrupted the OPEC member's supplies, industry and government sources said on Wednesday.
Japan will join South Korea among top Asian buyers in halting all Iranian imports this month due to sanctions imposed by Brussels on Sunday that aim to cut Iran's oil revenues and force Tehran to curb its nuclear programme.
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