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  1. Santos discovers gas in Browse Basin, stock up 1.9%
  2. BHP is sitting on a pile of cash - with nearly $11 billion on its balance sheet it may bid for Woodside or acquite U.S. potash companies
  3. Despite supportive China 2Q GDP data, commodities mkts need to see evidence that economies elsewhere in the world are recovering
  4. Crude oil turns negative, down 5 cents to $61.49/bbl, despite above-consensus read on China 2Q GDP
  5. Dow Jones citing Ming Pao Daily reporting China 2Q GDP up 8.3% from a year earlier, growth rate well-above 7.5% consensus view
  6. Nymex crude extends gains in after-hours session in Asia but trades in tight-range between $61.78 and $62.01, awaiting China GDP
  7. Rio Tinto 2Q iron ore output +8% to 45.2 mln tons but warned struggling aluminium business would negatively impact 1H earnings
  8. Report in Beijing Times says China 2Q GDP will grow 7.9% on-year. If confirmed, growth rate would be higher than consensus expectations
  9. Nymex crude extends gains after-hours, eyes $62/bbl. Awaiting China 2Q GDP (consensus +7.5% on yr), higher reading may boost commodity mkts
  10. Equities rally, weaker USD, improved manufacturing data may have outweighed above-forecast build in U.S. gasoline supply, oil +4% at $61.90
  11. Eurasia Group's Sebastian Spio-Garbrah says Niger Delta insurgency "unlikely to abate" despite MEND truce, release of militant leader Okah
  12. Blue Phoenix's John Licata: Upticks in crude will be short-lived and could be a selling opportunity especially as CFTC net longs are falling
  13. Global commodities benchmark Reuters-Jeffferies CRB Index jumps nearly 1.5% after improvement in U.S. manufacturing data, USD weakness
  14. Nymex crude surges 3.4% to settle at $61.54/bbl on larger-than-forecast drop in U.S. crude inventories, weaker USD, strong equities
  15. EIA report overall bearish driven by weak pdt data, says SG. Days cover for light products remains very high, above the top of 5yr ranges
  16. Mediocre gasoline demand resulted in another build in inventories despite drop-off in production and imports, says Linda Rafield at Platts
  17. U.S. gasoline demand has yet to establish any clear uptrend, says Platts' Senior Oil Analyst Linda Rafield.
  18. Oil rallies 1% after-hours to breach $60/bbl, possibly belated reaction to rising equities after upbeat earnings. Awaiting EIA for direction
  19. Steve Johnson at The Intelligent Investor notes mkt uncertainty on China resources stockpiling. Is it going to end, when's it going to end?
  20. Steve Johnson at The Intelligent Investor: China GDP will be strong but question is what does China look like 2 to 3 years down the track?