GLOBAL MARKETS-Shares pause as investors await Bernanke's testimony
TOKYO, July 17 (Reuters) - Asian shares paused as investors awaited Federal Reserve Chairman Ben Bernanke's view on the U.S. economy later in the day, after weak U.S. retail sales and a lower International Monetary Fund global growth forecast raised hopes of more stimulus from the Fed.
"I still don't see why the U.S. economy should slide back into recession. Slow growth is much more likely than no growth from here. But bears will growl," said Kit Juckes, currency strategist at Societe Generale.
COMMODITIES-Stimulus hopes lift oil; weather woes rally grains
NEW YORK/CHICAGO, July 16 (Reuters) - Commodities rose on Monday, adding to last week's gains as investors grew more hopeful about more monetary easing in China and the United States, boosting prices of oil and other raw materials.
"Prospects of more monetary easing are growing, supporting risk appetite," analysts at BNP Paribas said in a note.
Brent prices mask plentiful supply in wider market
--John Kemp is a Reuters market analyst. The views expressed are his own--
LONDON, July 16 (Reuters) - The big jump in headline oil prices since the end of June highlights the growing disconnect between Brent and the rest of the oil market.
It owes more to North Sea production problems and the broken nature of the benchmark Brent contract than rising tensions with Iran or hopes for more stimulative policies from the major central banks.
US crude stocks seen down, products up
July 16 (Reuters) - U.S. commercial crude oil stockpiles were projected down for last week due to higher refinery utilization, and increases in petroleum products were expected, a preliminary Reuters poll showed on Monday.
The poll of five analysts of oil and products data due this week forecast a 500,000-barrel drop in domestic crude inventories for the week to July 13. Two analysts called for a decline, one analyst expected an increase, and the other two forecast an unchanged reading.
OPEC 2011 exports jump, Angola's reserves slide
LONDON, July 16 (Reuters) - OPEC's petroleum exports jumped in value by 40 percent in 2011 year-on-year and the producers' GDP climbed 18 percent, according to their latest report, before a further increase in supplies this year that could bolster income further.
The gains, announced in OPEC's Annual Statistical Bulletin 2012 on Monday, reflect higher prices and steadily climbing output last year from many members of the Organization of the Petroleum Exporting Countries.
OIL-Oil higher on stimulus hopes, Iran tensions
NEW YORK, July 16 (Reuters) - Oil prices rose for a fourth straight session o n M onday, lifted by hopes that signs of economic slowing will prompt stimulus measures, especially in China, and by news a U.S. Navy vessel off the United Arab Emirates fired on a fishing boat that failed to heed warnings.
"Prospects of more monetary easing are growing, supporting risk appetite - in China first, as the government takes policy measures to protect economic growth, but also in the U.S.," said analysts at BNP Paribas.
NATURAL GAS-US natgas futures end lower despite early week heat
NEW YORK, July 16 (Reuters) - U.S. natural gas futures ended lower on Monday, pressured by milder Northeast and Midwest weather forecasts for later this week despite heat early in the week that should force more homeowners and businesses to crank up air conditioners.
"The weather is moving toward another round of (heat) over major portions of the U.S. but (it) will not last as long as the last bout nor will (it) cover as much of the U.S. as the last round," Energy Management Institute's Dominick Chirichella said in a report.
EURO COAL-Prices stable, few fresh trades seen
LONDON, July 16 (Reuters) - Physical prompt coal prices were little changed on Monday, but saw some support from firmer coal swaps values.
"We believe prices will remain relatively range-bound in the next 6-9 months and establish an average second half 2012 target of $91/T for (FOB Newcastle) coal," BoAML said.
No comments:
Post a Comment