GLOBAL MARKETS: Euro weakens on debt worries; stocks dip
HONG KONG, May 23 (Reuters) - The euro tumbled to a record low against the Swiss franc on Monday on renewed concerns about the euro zone's debt crisis, prompting investors to switch out of riskier assets such as equities.
"I expect the market to start off carefully today. Investor sentiment remains fragile. Eurozone debt concerns continue, and investors will await key global economic data due out later this week," said Han Beom-ho, a market analyst at Shinhan Investment Corp.
OIL: Volatile oil ends higher, eyeing Europe and euro
NEW YORK, May 20 (Reuters) - Oil rose in thin, volatile trading on Friday, bouncing back from sharp mid-session losses as traders struggled to set a clear direction in a market buffeted by new euro zone concerns and mixed signals on demand.
"Any commodity can serve as a store of value if you are worried about currencies you were holding and while gold is the easiest to hold, its price is very high and that may have benefited oil," said Bill O'Grady, chief investment strategist at Confluence Investment Management in St. Louis.
NATURAL GAS: Natural gas ends up 3 pct, rebounds with crude
NEW YORK, May 20 (Reuters) - U.S. natural gas futures rose more than 3 percent on Friday, rebounding with stronger crude futures and ongoing nuclear plant outages despite mild weather that has curbed demand in much of the nation.
"As natural gas edged closer to the $4 per mmBtu area, some erratic reversals in crude futures brought out the buyers yet again, perhaps helped by headlines reminding us that terrorist groups have been targeting U.S. oil and gas infrastructures," Jay Levine, broker with enerjay, LLC in Portland, Maine said.
COMMODITIES: Ends up as oil reverses fall: corn up 11pct on week
NEW YORK, May 20 (Reuters) - Commodities rebounded on Friday, with oil rising 1 percent on book squaring at the end of a volatile week, and metals and most agricultural markets posted gains too.
"I don't think we've reached any change in the underlying conditions in the market," said Gene McGillian, analyst at Tradition Energy in Stamford, Connecticut.
Iraq sees oil output hike despite constraints
BASRA, Iraq, May 21 (Reuters) - Iraq expects output from its southern oilfields to hit up to 2.5 million barrels per day at the end of this year despite crumbling infrastructure, the head of South Oil Co. (SOC) told Reuters on Saturday.
Its offshore terminals are stretched to capacity and dilapidated. Its export pipeline to Turkey suffers frequent maintenance problems and is often bombed.
Kazakhstan plans flat oil export duty until 2014
ASTANA, May 21 (Reuters) - Kazakhstan, Central Asia's largest oil producer, plans to keep its crude export duty at $40 per tonne until 2014, its economy minister said on Saturday, promising a stable export regime for producers.
"There can come such a delicate moment: if you are charging taxpayers, there comes a moment when you just overload them," Kairat Kelimbetov told Reuters in an interview.
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