Wednesday, October 3, 2012

20121003 1143 Global Markets & Energy Related News.


GLOBAL MARKETS-Dollar firms on uncertainty over Spain bailout timing
TOKYO, Oct 3 (Reuters) - The dollar firmed and most riskier assets edged lower as uncertainty over the timing of Spain's request for an international bailout added to worries about slowing global growth.
"The potential timing (for a Spanish request) is obviously in flux and complicated by upcoming elections. Headlines and speculation are likely to continue to induce near-term market volatility," Barclays Capital said in a research note.

OIL-Brent slips towards $111 as growth worries persist
SINGAPORE, Oct 3 (Reuters) - Brent crude futures slipped towards $111 per barrel, hurt by persistent concerns on global growth and oil demand, while Europe's festering debt crisis added to uncertainty.
"It's hard to get bullish when the numbers are so bad, especially in China and the euro zone," said Tony Nunan, an oil risk manager at Mitsubishi Corp, referring to weak manufacturing data released this week.

U.S. crude inventories rose last week, products fell -API
NEW YORK, Oct 2(Reuters) - U.S. crude oil inventories rose less than expected last week while oil product stockpiles fell slightly, data from the American Petroleum Institute showed on Tuesday.
Crude inventories rose 462,000 barrels in the week to Sept. 28, compared with analysts' expectations for a build of 1.5 million barrels, the API reported.

NATURAL GAS-US natgas futures reverse course, end up on weather
NEW YORK, Oct 2 (Reuters) - U.S. natural gas futures ended higher on Tuesday for a sixth day, as cool forecasts for the Northeast and Midwest and rising demand offset early profit taking and technical selling after recent strong gains.
"There is likely to be an above average level of heating related gas demand over the next several weeks which has brought in a new round of buyers while sending the next layer of shorts to the sidelines," Energy Management Institute's Dominick Chirichella said in a report.

EURO COAL-Prices dip 55c/T, buyers remain scarce
LONDON, Oct 2 (Reuters) - Prompt physical coal prices slipped by up to 55 cents a tonne on Tuesday but remained in the $83-$88 a tonne range seen for the past few weeks with few trades reported.
"I don't think South African strikes could be a game changer but would probably give the market a little pop, as the Fenoco action did," said Marcus Garvey, analyst with Credit Suisse.

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