20120823 1130 Global Markets & Commodities Related...

GLOBAL MARKETS-Asian shares up after Fed minutes, euro hits 7-week high
TOKYO, Aug 23 (Reuters) - Asian shares rose and the euro hit a seven-week high on Thursday as the Federal Reserve's minutes raised the prospect for more stimulus while uncertainty continued over progress in Europe's debt crisis including the European Central Bank's bold action.
"The data released since the August 1 conclusion does little to sway the 'substantial and sustainable' requirement," said Andrew Wilkinson, chief economic strategist at Miller Tabak & Co. in a note.

OIL-Oil rises on Fed minutes, U.S. inventory drop
NEW YORK, Aug 22 (Reuters) - Oil prices rose on Wednesday as indications the Federal Reserve is likely to provide more stimulus and a sharp drop in U.S. crude inventories countered concerns about Europe's debt crisis.
"The implication is that it will require more units of a degraded asset (U.S. dollar) to purchase hard assets like oil," said Michael Fitzpatrick, editor in chief at industry newsletter Energy Overview in New York.

U.S. crude stocks fall sharply, oil products mixed-EIA
NEW YORK, Aug 22 (Reuters) - U.S. crude oil stockpiles fell sharply last week amid a drop in crude imports, while inventories of refined products were mixed as plant utilization fell, government data showed on Wednesday.
Domestic stocks of crude, excluding oil held in the Strategic Petroleum Reserve, fell by 5.41 million barrels to 360.75 million barrels in the week ended on Friday, the Energy Information Administration reported. Analysts polled by Reuters had forecast a smaller drop of 400,000 barrels.

U.S. SEC forces disclosure of oil, mining payments abroad
WASHINGTON, Aug 22 (Reuters) - U.S.-listed oil, gas and mining companies will be required to  reveal payments they make to foreign governments, including those for drilling or exploration licenses, under rules adopted by U.S. regulators that try to reduce bribery and corruption risks.
The U.S. Securities and Exchange Commission also on Wednesday finalized a rule requiring manufacturers to disclose whether their products include certain minerals from the war-torn Democratic Republic of the Congo.

NATURAL GAS-Warm forecasts, storm drive U.S. natgas futures higher
NEW YORK, Aug 22 (Reuters) - U.S. natural gas futures ended higher on Wednesday, driven by forecasts for warm weather that should lift power demand, and concerns that a storm headed into the Caribbean could strengthen into a hurricane and disrupt Gulf
of Mexico gas production.
"The reason to show how wobbly these forecasts are is to highlight the uncertainty we have going into the back half of the week. Even if such a small slice of the production pie comes out of the Gulf Offshore ... incremental losses of production will restrain selling until the threat has passed," Gelber & Associates analyst Patrick Saunders said in a report.

EURO COAL-prices drop ahead of more Colombian exports
LONDON, Aug 22 (Reuters) - Physical prompt coal prices eased slightly in thin trading on Wednesday as Atlantic seaborne supplies were expected to improve by September, following the end of a Colombian rail workers strike.
"Some producers need to sell their prompt coal cargoes above $90 a tonne in order to make a profit, and they are worried that their margins will be eaten up by the time Colombia has returned to full export mode at the end of August," one coal trader said.