20121018 1342 Global Markets & Energy Related News.

GLOBAL MARKETS-Asian shares rise after US data, China GDP in focus
TOKYO, Oct 18 (Reuters) - Asian shares rose to their highest in seven months, buoyed by a surge in U.S. housing starts that has followed other positive economic data, helping to further ease worries about a slowdown in global growth.
"According to many estimates, the GDP is expected to miss the 7.4 percent consensus which would create an initial drag on the AUD/USD," Neal Gilbert, currency strategist at GFT Forex in New Jersey, wrote in a note.

OIL-Brent crude, U.S. gasoline fall on inventory gains
NEW YORK, Oct 17 (Reuters) - Brent crude prices fell on Wednesday as rising U.S. crude oil and gasoline stockpiles kept tepid global demand for petroleum in focus, while a weaker dollar and worries about supply disruptions limited losses.
"The Brent curve is ... coming under pressure on lack of significant North Sea buying interest that appeared to be (associated) with the expected resumption of normal Buzzard Field production activities next week," Jim Ritterbusch, president at Ritterbusch & Associates said in a research note.

U.S. crude stocks up, oil products mixed - EIA
NEW YORK, Oct 17 (Reuters) - U.S. crude stocks rose last week as imports increased and oil product inventories were mixed after refiners boosted processing rates, government data showed on Wednesday.
Domestic stocks of crude oil rose by 2.86 million barrels in the week to Oct. 12, the Energy Information Administration reported. Analysts polled in advance by Reuters had forecast an increase of 1.7 million barrels.

Indonesia's 2012 oil output set to drop 3.6 pct
JAKARTA, Oct 17 (Reuters) - Indonesia's declining oil and condensate production will fall a further 3.6 percent in 2012 to 870,000 barrels per day, as damaged infrastructure, aging fields and a lack of exploration investment hurt output, state oil and gas regulator BPMigas said on Wednesday.
The former OPEC member was once self-sufficient in oil and gas but for years has been struggling to attract investment to halt declining oil output.

NATURAL GAS-US natgas futures end up, mild forecasts limit gains
NEW YORK, Oct 17 (Reuters) - U.S. natural gas futures ended higher on Wednesday, backed by prospects for a light inventory build on Thursday and some technical buying after two straight losing sessions, but milder weather this week slowed demand and helped limit the upside.
"I think we've got some short covering ahead of Thursday's (EIA storage) number - people are expecting a small build - but the weather forecasts look mild, and that should mean some decent (bigger) injections going forward," said Eric Bickel, analyst at Summit Energy in Kentucky.

EURO COAL-Dec ARA trades higher but activity remains thin
LONDON, Oct 17 (Reuters) - Prompt physical coal prices were little changed to slightly higher on Wednesday but few trades were seen as many coal market players returned from the biggest annual industry conference in Istanbul this week.
"November South African was bid again today at $79.25 a tonne but $81.00 is where most people are pegging prices," one European trader said.