20120829 1100 Global Markets & Commodities Related New.

GLOBAL MARKETS-Euro, Asian shares steady as Jackson Hole nears
TOKYO, Aug 29 (Reuters) - The euro remained firm while Asian shares steadied on Wednesday as investors awaited U.S. Fed chairman Ben Bernanke's Friday speech for signs of whether the bank will opt for more monetary stimulus and a European Central Bank policy meeting next week.
"In terms of further easing, nothing has been decided," said Fisher, a non-voting member on the Fed this year. "Nothing is predestined."

COMMODITIES-Higher for 1st time in 4 days; oil up on storm fear
NEW YORK, Aug 28 (Reuters) - Commodities rose on Tuesday for the first time in four sessions after oil prices were supported by worries of possible storm damage to energy installations in the U.S. Gulf of Mexico and soybeans and sugar came off a profit-taking spree.
"I don't think we can expect more quantitative easing, so markets could be disappointed," said Andrey Kryuchenkov, commodities analyst at Moscow-based VTB.

OIL-Oil rises as Hurricane Isaac threatens U.S. Gulf Coast
NEW YORK, Aug 28 (Reuters) - Oil prices rose on Tuesday as Hurricane Isaac approached the U.S. Gulf Coast, forcing companies in the region to close down oil production platforms and refineries.
"The statement from the G7 suggests, in part, that they are also sensitive to price, but if you have to focus on a supply disruption to authorize a release, we have one in the Gulf of Mexico called Isaac that has had a real impact on production," said Jan Stuart, head of energy research at Credit Suisse.

G7 urges higher oil output, warns on reserves
WASHINGTON, Aug 28 (Reuters) - Finance ministers of the Group of Seven most industrialized nations urged oil-producing countries on Tuesday to raise output to ensure the market is well supplied, while warning that the West was ready to tap strategic oil reserves to offset rising prices that could hamper global growth.
"We stand ready to call upon the International Energy Agency to take appropriate action to ensure that the market is fully and timely supplied," the G7 said in a statement. "The current rise in oil prices reflects geopolitical concerns and certain supply disruptions. We encourage oil-producing countries to increase their output to meet demand."

US crude stocks forecast down for 5th straight week
Aug 28 (Reuters) - U.S. crude oil stockpiles were forecast to have fallen for the fifth week in a row last week due to lower imports, an expanded Reuters poll ahead of weekly industry and government reports showed on Tuesday.
The survey of 12 analysts forecast on average that crude stocks would drop 1.5 million barrels for the week ended Aug. 24. Nine of the 12 analysts projected a drawdown.

NATURAL GAS - Isaac fails to stir US natgas futures, bearish charts weigh
NEW YORK, Aug 28 (Reuters) - U.S. natural gas futures ended lower for a fourth straight day on Tuesday, with fading summer demand, record high supplies and bearish technicals outweighing concerns about storm-related supply disruptions or possible flood damage from Isaac.
"From a technical perspective, the recent breakdown is definitely bearish. We could get a slight pause at $2.50, but I think $2.40 is a better support level," said Chris Kostas, senior analyst at Energy Security Analysis.

EURO COAL-Prices seen stable as Colombia exports offset U.S.
LONDON, Aug 28 (Reuters) - Physical coal prices in Europe will likely to remain near current levels as improved Colombian exports are offset by slowing supplies from the United States, Barclays Capital said on Tuesday.
"We expect the pace of U.S. exports to slow. However, Colombian exports should be flat in H2 (second half of 2012), though they should ramp up loadings to make up for the lost exports in August," BarCap said in a research note.