GLOBAL MARKETS-Asian shares, euro firmer on Fed easing hopes
HONG KONG, July 18 (Reuters) - Asian shares edged higher on hopes the U.S. central bank has left the door open for more stimulus measures later in the year, after chairman Ben Bernanke outlined a gloomy view of the U.S. economic recovery.
Quarterly earnings from the likes of Goldman Sachs and Coca-Cola came in better than expected, calming concerns about the impact of the global slowdown and underpinning mild gains in stocks.
COMMODITIES-Oil up for fifth day, corn nears record highs
NEW YORK, July 17 (Reuters) - Oil rose for a fifth straight day on Tuesday, proving its resilience to other commodity markets, after Federal Reserve Chairman Ben Bernanke left the door open for more stimulus but did not say when that would occur.
"It's post-Bernanke buying because, while he was not explicit about doing something, the door is clearly open," said John Kilduff, partner at Again Capital LLC in New York.
Brent de-links from global oil balance
--John Kemp is a Reuters market analyst. The views expressed are his own--
LONDON, July 17 (Reuters) - Far too many analysts and commentators are still linking rising Brent futures prices to geopolitical tensions in the Middle East and macroeconomic factors, rather than looking for a more localised cause in the North Sea.
It is always tempting to seize on a single piece of hard evidence to make a larger point, especially when that data confirms an already-held belief (something which behavioural economists call "confirmation bias"). But in this case it could not be more wrong.
US crude stocks fall, products mixed-API
NEW YORK, July 17 (Reuters) - U.S. crude inventories fell more than analysts expected last week, and oil product inventories were mixed as gasoline stocks fell unexpectedly and distillates rose, data from the American Petroleum Institute showed on Tuesday.
Crude inventories fell by 2 million barrels in the week to July 13 compared with a forecast for a 1.2-million-barrel decline in a Reuters poll of analysts.
Iran offers to insure foreign ships to skirt EU ban
DUBAI, July 17 (Reuters) - Iran said it would insure any foreign ships that enter its waters, in an effort to skirt a European Union ban on insuring ships carrying Iranian crude that has hampered the country's oil exports.
"The Islamic Republic of Iran will take all responsibility for insuring any foreign shipping line and any ship that enters Iranian waters," the Fars news agency on Tuesday quoted Seyyed Ataollah Sadr, the managing director of Iran's Ports and Maritime Organization, as saying.
Iran arrests oil decline as China imports record
DUBAI, July 17 (Reuters) - Iran is set to arrest a slide in oil shipments in July as China increases imports to a record high to account for more than half of Iran's crude exports and prevent a further slump in Tehran's oil revenues, an industry report said.
Iranian supplies are expected to average 1.084 million barrels a day in July, little changed from 1.094 million bpd of exports in June, in what Geneva-based consultancy Petrologistics said was a preliminary report.
Oilfield service outlook dims as offshore view brightens
July 17 (Reuters) - A brightening outlook for offshore drillers indicates they will emerge looking relatively healthy from what is set to be a tough round of quarterly earnings for companies serving the oil and gas business.
Brisk production and exploration activity at sea contrasts with the troubles facing U.S.-focused oilfield services companies. Halliburton and Baker Hughes face supply chain challenges and costlier materials, which have been flagged by analysts and companies for months.
OIL-Oil up on Bernanke leaving stimulus door open
NEW YORK, July 17 (Reuters) - Oil prices rose a fifth straight session on Tuesday, after U.S. Federal Reserve Chairman Ben Bernanke left the door open for more monetary stimulus but gave no signal on whether the Fed was closer to such a move.
"It's post-Bernanke buying because, while he was not explicit about doing something, the door is clearly open," said John Kilduff, partner at Again Capital LLC in New York.
NATURAL GAS-US natgas futures end down for 2nd day, heat limits loss
NEW YORK, July 17 (Reuters) - U.S. natural gas futures, lightly pressured by milder late-week weather forecasts, ended lower on Tuesday for a second day, but the current heatwave and expectations for another light weekly inventory build on Thursday helped limit selling.
"The overall trend for hotter weather has backed off. It's still above normal, but as we said the other day...less hot," Gelber & Associates analyst Pax Saunders said in a report.
EURO COAL-Prices steady, Colombia bombs ignored
LONDON, July 17 (Reuters) - Physical prompt coal prices were again little changed on Tuesday although stronger oil gave some support in earlier trading.
"Oil was higher but fell back in the afternoon, pulling swaps with it, but there were no big moves in other markets to affect coal," one European trader said.
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