OIL: Oil prices fall after U.S. crude build
NEW YORK, May 4 (Reuters) - Oil prices fell to their lowest in two weeks on Wednesday, hit by a build in U.S. crude stocks and a broad decline in commodities after weak U.S. economic data and concerns over tighter Chinese monetary policy.
"There's a bit of a shift out of risky assets like oil. It doesn't mean it has turned bearish, but the run can't keep going in one direction," said Tom Bentz, broker at BNP Paribas Commodity Futures in New York.
NATURAL GAS: Natural gas ends down 2 pct on weather, technicals
NEW YORK, May 4 (Reuters) - U.S. natural gas futures ended lower on Wednesday as milder weather this week continued to slow demand and longs took profits ahead of Thursday's weekly inventory report despite expectations for another below-average storage build.
"Each day we press into May brings us that much closer to milder weather demand and the typical flurry of large (storage) injections. Plodding along, the calendar also inches toward outage exits for the beleaguered nuclear fleet," Pax Saunders, analyst at Gelber & Associates in Houston, said in a report.
EURO COAL: Prices stable, Chinese seek Australian coal
LONDON, May 4 (Reuters) - Prompt European delivered physical coal prices were stable on Wednesday after a day of thin trade.
"The reality is that trade is extremely thin," one European trader said.
COMMODITIES: Third day of falls as investors fret over demand
NEW YORK, May 4 (Reuters) - Commodities fell for a third straight day on Wednesday, extending a trend evident since the start of May as investors who had ridden oil, metals and grains to new highs last month now feared a steep correction.
"My understanding is that when a boat is leaning too far one way, it tips," said Matthew Bradbard, president at MB Wealth Corp in Hollywood, Florida.
GLOBAL MARKETS: Silver licks wounds after heavy losses, ECB eyed
HONG KONG, May 5 (Reuters) - Silver nursed losses on Thursday after suffering its biggest three-day drop in five years on heavy profit taking while the euro consolidated gains against the dollar before the European Central Bank meeting where it is expected to reinforce its hawkish outlook.
"Positioning is light going into the ECB and talk of double-no-touch 1.4750/1.4950 in options market may contain the range. But I expect the ECB to keep the 'strong vigilance' wording," a trader at a U.S. investment bank said.
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