20110509 1425 Global Market & Commodities Related News.

GLOBAL MARKETS: Stocks tiptoe higher before China data, euro shaky
HONG KONG, May 9 (Reuters) - Shares in Asia's developed stock markets inched higher on Monday as investors scooped up bargains, helped by a strong U.S. jobs report, though sharp gains may be limited before a deluge of Chinese economic data this week.
"Volume will likely be thin ahead of a holiday tomorrow, but the market will probably start off in positive territory, helped by the U.S. job report," said Lee Jae-mahn, a market analyst at Tong Yang Securities. 

OIL: Brent crude rebounds above $110 after last week's sell-off
SINGAPORE, May 9 (Reuters) - Brent crude rose more than a dollar on Monday, rebounding from a record fall of more than $16 last week as investors fled commodities on worries over slowing global growth.
Brent crude for June  climbed $1.49 to $110.62 a barrel by 0001 GMT. Prices fell a total of $16.76 last week.

NATURAL GAS: Natural gas ends lower on bearish technicals, weather
NEW YORK, May 6 (Reuters) - Front-month U.S. natural gas futures settled lower on Friday for a fifth straight day, pressured by bearish technicals after Thursday's price crash and milder weather forecasts that should slow demand.
"I think there was some technical buying early, then it petered out. The supply-demand balance looks tighter than last year, but a lot of that is because of the nuke outages which are temporary," a southern-based commodity advisor said, noting milder weather next week could pressure prices.
 
COMMODITIES: CRB index posts biggest weekly fall since 2008
NEW YORK, May 6 (Reuters) - Commodities ended lower on Friday, retreating after a brief rebound from the previous session's plunge, and analysts said more market turbulence was in store after the steepest weekly decline since 2008.
"After yesterday's kind of historic trading day, the market's going to have increased price volatility which can lead to this kind of intraday swing, so we have to watch it," said Gene McGillian, analyst at Tradition Energy in Stamford, Connecticut.

Gaddafi forces attack remote oil town-rebels
BENGHAZI, Libya, May 7 (Reuters) - Forces loyal to Libyan leader Muammar Gaddafi attacked the remote eastern oil town of Jalu in the Libyan desert on Saturday, but the town remains in rebel hands, a rebel spokesman said.
The town, south of the eastern frontline near Adjdabiyah, has been attacked by Gaddafi forces more than once since the uprising against Muammar Gaddafi's rule began in mid-February.

Iran bases budget on oil around $81.50 per barrel
DUBAI, May 8 (Reuters) - Iran is basing the oil price for its 2011/12 budget at around $81.50 per barrel and expects the price of oil to pick up again during the start of the summer season, Iran's OPEC governor told Reuters on Sunday.
"We are basing the oil price in out budget which will be finalized in about two to three days at around $81.5," Mohammad Ali Khatibi told Reuters in a telephone interview, adding that prices are expected to recover as the summer season approaches.