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Andurand Capital sees large oil inventory draws from next year

LAUSANNE, April 12 (Reuters) - Prominent oil trader Pierre
Andurand said on Tuesday he expects global oil stocks will stop
growing in the next few months and there will be large inventory
draw downs from next year.

UPDATE 1-Italy's Renzi signs potentially huge business deals in Iran

* Memorandums of understanding, credit lines agreed

(Adds details on deals, Renzi comment)

RPT-COLUMN-You can now be positive on commodities, and that's a big change: Russell

SINGAPORE, April 12 (Reuters) - - It would be easy to
dismiss the assertion by BHP Billiton Chief Executive Andrew
Mackenzie that commodity prices have bottomed as the wishful
thinking of a mining executive keen to see some improvement in
profit margins.

UPDATE 2-Brazil police arrest former senator in Petrobras investigation

BRASILIA, April 12 (Reuters) - Brazilian police arrested former senator Gim Argello and launched raids in three states on Tuesday as part of a massive corruption investigation centered at state-run oil firm Petrobras, federal prosecutors said.

UPDATE 3-India, U.S. reach preliminary agreement on sharing military logistics amid China challenge

* Commercial shipping agreement to be signed (Adds context, quotes)

Fitch cuts Saudi Arabia's ratings to 'AA-' from 'AA'

April 12 (Reuters) - Fitch Ratings cut Saudi Arabia's long-term foreign and local currency issuer default ratings to 'AA-' from 'AA' with a negative outlook, amid weak oil prices.

UPDATE 4-Oil hits 2016 high above $43 on producer meeting hopes

* U.S.

UPDATE 1-Chinese state-owned coal firm to make good on bond payment

* ChinaCoal Group unit does not specify source of funds (Adds background, details)

Italy to supply credit lines, guarantees to boost exports to Iran

ROME, April 12 (Reuters) - Italy announced 8.8 billion euros ($10.05 billion) in credit lines and financial guarantees to relaunch exports to Iran, the Italian export agency said on Tuesday during Prime Minister Matteo Renzi's visit to Tehran.

China Sinosteel extends bond repayment deadline for 8th time

SHANGHAI, April 12 (Reuters) - Chinese state-owned steelmaker Sinosteel has once again postponed its deadline to pay off interest on 2 million yuan ($309,607.11) of enterprise bonds, the company said in a statement on the website of China's bond clearinghouse.

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