GLOBAL MARKETS: Stocks bounce, dlr rises; China data eyed
HONG KONG, June 10 (Reuters) - Asian shares climbed on Friday, snapping a six-day losing streak, as strong U.S export data tempered fears that its economy may be stalling, though gains may be short-lived before Chinese trade data.
"I suspect the Nikkei will be bought initially today after a rise in U.S. shares. But given that the Nikkei has risen for the past three sessions despite falls in Wall Street, some players may think it's time for profit-taking," said Takashi Hiroki, chief strategist at Monex Securities.
OIL: Brent hits 5-week high on supply fears after OPEC
NEW YORK, June 9 (Reuters) - Brent crude rose 1.5 percent on Thursday, reaching a five-week high as OPEC's surprise failure to reach a deal on raising output stoked more fears of leaner supplies later in the year.
"The OPEC situation actually got prices a little bit higher. I think it set a change in mentality for a lot of traders especially after we broke above the consolidation (seen in recent weeks)," Mike Zarembski, senior commodities analyst for OptionsXpress in Chicago.
NATURAL GAS: Natgas ends down 3.6 pct after early 10-mth high
NEW YORK, June 9 (Reuters) - Front-month U.S. natural gas futures, which hit a 10-month high early Thursday, ended down sharply on Thursday, pressured by milder U.S. weather forecasts for next week and a report showing a weekly inventory build slightly above market expectations.
"We tested $5 resistance and sellers came out of the woodwork before the (EIA) number. The (milder) weather should take some of the steam out of the market," said Ed Kennedy, senior vice president at INTL Hencorp Futures in Miami, noting the inventory build was a little above expectations.
EURO COAL: Jly S.African trades at API4 minus $3/T
LONDON, June 9 (Reuters) - Lack of demand for prompt South African spot coal is finally starting to be reflected in physical prices, traders and utilities said on Thursday.
"South African is the unwanted problem child of the coal market today," one trader said.
COMMODITIES: Oil rises again on OPEC; corn at record high
NEW YORK, June 9 (Reuters) - Commodities jumped for a second straight day on Thursday as oil rose again on fears of tight supplies after OPEC failed to decide on output policy, while corn hit record highs on a cut in U.S. crop estimates.
"(OPEC's) non-outcome reinforces the floor under oil prices and leaves the output gap in place. But there is clear evidence of a slowdown in the global economy keeping demand in check," said Harry Tchilinguirian, energy analyst at BNP Paribas.
Saudi to supply full July crude volumes to Asia
TOKYO, June 10 (Reuters) - Saudi Arabia, the world's top crude exporter, will supply full contracted volumes of crude oil in July to at least two Asian term buyers, steady from June levels, industry sources familiar with the matter said on Friday.
There were no adjustments in allocated volumes of heavy and light crude grades, the sources said, adding that the move was "in line with expectations".
Colombia oil output continues to hit record highs
BOGOTA, June 9 (Reuters) - Colombia's oil production shot up 19 percent to 923,000 barrels per day (bpd) in May versus a year ago, continuing to break historic records, the National Hydrocarbons Agency said on Thursday.
Latin America's No. 4 oil producer has seen oil output rise to record highs mainly due to better security, heavy crude and incremental production at existing fields, experts say.
Asia eyes more Saudi oil despite fractious OPEC meet
BEIJING/SINGAPORE, June 9 (Reuters) - Asian refineries are confident Saudi Arabia will ensure no shortage of oil supply to meet rapidly rising demand this year despite OPEC's failure to agree an output increase this week.
But demand in the region could suffer in the long term if the failure of the producer group to send a clear signal to markets keeps oil above $100 a barrel.
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