OIL: Oil rebounds above $100 after market collapse
TOKYO/SINGAPORE, May 6 (Reuters) - U.S. crude rose above $100 on Friday, a slight rebound from a near record collapse the previous session, as weak economic data from Europe and the United States sparked a broad sell-off in commodities.
World stocks fell and the 19-commodity Reuters-Jefferies CRB index dropped more than 4.9 percent, heading for its biggest weekly decline since December 2008.
NATURAL GAS: Natgas craters 7 pct on bearish EIAs, crude crash
NEW YORK, May 5 (Reuters) - U.S. natural gas futures ended sharply lower on Thursday, pressured by a crumbling crude market and a government report showing a weekly inventory build above market expectations for the first time in four weeks.
"I think the market got ahead of itself. People were expecting a lower (EIA build) number, and gas got pulled into the broad commodity sell-off," said Martin King at FirstEnergy Capital in Calgary, noting crude slumped $9 a barrel today.
EURO COAL: Dips a dollar with commodities' fall
LONDON, May 5 (Reuters) - Prompt European delivered physical coal prices slipped by around $1 a tonne on Thursday while South African prices were little changed after a slide in oil and commodity prices.
Investors exited commodity markets in a rush for the fourth day. Brent crude fell by $8 a barrel and silver extended an historic slide.
COMMODITIES: Stampede for the exits, oil drops record $12
NEW YORK/LONDON, May 5 (Reuters) - Commodity investors stampeded out of markets on Thursday and oil suffered its worst selloff on record as worries mounted that global economic growth was slowing.
"There's a lot of tourists in our markets that have piled in at the wrong level. Now there's liquidation by commodity trading advisors," said Tony Hall, chief investment officer at UK-based hedge fund Duet Commodities.
GLOBAL MARKETS: Stocks drop on commodities selloff, dollar jumps
HONG KONG, May 6 (Reuters) - Stocks in Asia's developed markets fell on Friday as a sharp overnight selloff in commodities forced investors to cut positions, though some short-covering before the important U.S. payrolls data may check sharp falls.
"Such hopes were betrayed by poor U.S. jobless claims and the strong yen while we were on holiday," said Kenichi Hirano, a strategist at Tachibana Securities. "Investors will likely sell on disappointment as they had bought on such optimism on Monday, though the Nikkei may be supported above 9,700."
High oil prices may strangle demand: Overseas Shipholding
BANGALORE, May 5 (Reuters) - Overseas Shipholding Group Inc , the world's second-largest independent tanker company, warned that rising crude oil prices could crush demand for a marine transport industry already struggling with an oversupply of ships.
Ship operators may idle vessels, reposition them or just drive them slower to try to mitigate oil prices that have risen to 2-1/2-year highs - before Thursday's sharp drop.
Higher oil prices put Caribbean economies on edge
MIAMI, May 5 (Reuters) - Higher global oil prices are squeezing economies and family budgets in the Caribbean, one of the last regions in the world still struggling to bounce back from the global financial crisis.
Few Caribbean countries, most of them small, fragile and import-dependent, are oil producers, and sharp increases in oil prices send shudders across a region that spends billions of dollars a year on energy imports.
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