Tuesday, June 14, 2011

20110614 1106 Global Commodities Related News.

GLOBAL MARKETS: Euro at record low vs Swiss franc; China data eyed
SINGAPORE, June 14 (Reuters) - The euro fell to a record low against the Swiss franc on Tuesday as investors sought safety on worries about a possible Greek debt default, while added concerns about the faltering U.S. economy and slowing Chinese growth kept prices across markets under pressure.
Asian stocks opened flat amid another bout of nerves about Greece's fiscal woes, which have dimmed risk appetite, and ahead of a slew of Chinese data.

OIL: Brent up but buffeted by supply, economic fears
NEW YORK, June 13 (Reuters) - Brent edged up while U.S. crude fell on Monday in volatile trading after a downgrade of Greece's credit rating fed jitters about economic growth and oil supply interruptions buffeted energy markets.
"Fundamentally, the market is still expressing concerns over weak U.S. macroeconomic guidance ...," Jim Ritterbusch, president at Ritterbusch & Associates in Galena Illinois, said in a note.

NATURAL GAS: Natgas ends down 2 pct on weather, nuclear returns
NEW YORK, June 13 (Reuters) - Front-month U.S. natural gas futures ended sharply lower on Monday, pressured by milder Northeast and Midwest weather this week and steadily improving nuclear generation despite the warmer outlook for next week.
"There's no heat in the Northeast this week, which is a problem for the bulls, but prices may have a hard time coming off with the (Gulf) physical market still strong," a Houston trader said, noting Henry Hub cash prices gained several cents on Monday and were still trading at a premium to futures.

EURO COAL: Steady as demand slows
LONDON, June 13 (Reuters) - Coal prices were little changed on Monday despite a surge in Brent crude to a record premium over U.S. crude.
"The Chinese seem to have stopped buying now because they have some stockpiles, there are delays to discharging vessels at certain southern ports and they're waiting to see exactly what measures the government takes to tackle the power shortages," one Pacific coal producer said.

COMMODITIES: Drop on Greek debt woes, worries over economy
CHICAGO, June 13 (Reuters) - Grains and oil led commodities lower on Monday amid worries that the economic recovery was losing steam, with a deepening euro zone debt crisis and signs of slowing Chinese demand overshadowing a weak dollar.
"We're still in this phase where people are starting to worry about the economic recovery," Standard Chartered analyst Daniel Smith said. "The dollar has generally been strong and this is in line with risk aversion which is creeping in."

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