GLOBAL MARKETS: Greece fears hammer stocks, euro; bonds rally
NEW YORK, June 15 (Reuters) - World stocks and the euro slumped on Wednesday as upheaval in highly indebted Greece and indecision among Europe's leaders about helping the nation fed fears the euro zone member is edging closer to default.
"It had looked like we were making progress on addressing Greece's problems but now it seems things are fraying at the edges. People are capitulating, taking a defensive posture and getting out of their risky trades." said George Davis, senior currency strategist at RBC Capital Markets in Toronto.
OIL: Oil dives 4 pct on demand worry, dollar surge
NEW YORK, June 15 (Reuters) - Oil slid more than 4 percent on Wednesday, as signs of further economic weakness fed demand worries and a rising dollar weighed, triggering technical sell stops and sending U.S. crude to its lowest since February.
"It's a rush for the exits. The market has been overvalued for some time now...the Brent market has been a bubble and the bubble is bursting today," said Tim Evans, energy analyst at Citi Futures Perspective.
NATURAL GAS: Natural gas ends off slightly, third straight loss
NEW YORK, June 15 (Reuters) - Front-month U.S. natural gas futures trimmed early losses, to end lower on Wednesday for a third day, as late short covering offset early selling on milder U.S. weather, sluggish economic data, and a sharp slide in crude oil.
"The (mild) weather this week has been pressuring prices, and negative economic sentiment may also be undercutting gas. But, I think we saw a little, late short covering ahead of the (EIA inventory) number tomorrow," said Steve Platt, analyst at Archer Financial in Chicago.
EURO COAL: Prices fall 50-75c as more offers emerge
LONDON, June 15 (Reuters) - Coal prices drifted 50-75 U.S. cents a tonne lower on Wednesday as more offers emerged, particularly for South African cargoes FOB Richards Bay, traders and utilities said.
"There are more offers in the market, for FOB Richards Bay during July and August particularly, with few takers, and that's having a price-dampening effect," one trader said.
COMMODITIES: Dollar surge hammers commods; US oil ends below $95
NEW YORK, June 15 (Reuters) - Commodities slid to their biggest daily decline in a month on Wednesday, with oil down $5 a barrel and corn dropping the session limit, as economic fears had investors dumping risky assets and piling into the dollar.
"Gold is a bastion of strength right now when the equity, crude oil and other commodity markets are weak," said Robert Lutts, chief investment officer of Cabot Money Management, a wealth management firm with $500 million in assets.
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