GLOBAL MARKETS: Dollar gains, stocks dip on euro zone debt concerns
HONG KONG, May 16 (Reuters) - The U.S. dollar hovered near a six-week high against the euro and stocks dipped as renewed concerns of a possible euro zone debt restructuring prompted market players to reduce risk.
Having gained by more than four percent in less than two weeks, the dollar extended its biggest winning streak against a basket of other currencies this year helped by violent swings in commodities and troubles in the euro zone.
US inflation hits 2-1/2 year high, seen peaking
WASHINGTON, May 13 (Reuters) - Gasoline and food prices hoisted U.S. inflation to a 2-1/2-year high in April, but there was little sign of a broader pick-up in consumer prices that would trouble the Federal Reserve.
The pace of food and fuel price rises slowed considerably from March, suggesting inflation pressures may be peaking.
Thai Oil, Petronas Chem to outshine Southeast Asia peers
BANGKOK/KUALA LUMPUR, May 12 (Reuters) - In the coastal Thai city of Sriracha, Thai Oil's 275,000-barrel-per-day refinery is running at full capacity because long-term demand is expected to jump following Japan's earthquake.
Southeast Asia's refinery and petrochemical sector, which was already enjoying a strong outlook thanks to high oil prices and firm global demand, has received an additional boost from the March earthquake and subsequent nuclear crisis.
US consumers feel pinch of gasoline costs in April
WASHINGTON, May 12 (Reuters) - The U.S. economy struggled to gain momentum early in the second quarter, with retail sales posting their smallest rise in nine months in April and wholesale prices increasing more than expected.
Other data on Thursday showed new claims for unemployment benefits fell 44,000 last week to 434,000 as one-time factors that had led to a spike in the prior week reversed. But the level of claims still suggested hiring was softening.
OIL: Crude down nearly 1 pct below $99 on stronger dollar
TOKYO, May 16 (Reuters) - U.S. crude futures were down nearly 1 percent below $99 a barrel, erasing Friday's gains as the dollar strengthened against the euro amid concern about Greece's debt problems.
London Brent crude for June delivery, which expires at the end of Monday trading, stood down 53 cents at $113.30, after falling as much as 88 cents to $112.95 earlier.
NATURAL GAS: Natural gas reverses course, ends up on rig decline
NEW YORK, May 13 (Reuters) - Front-month U.S. natural gas futures reversed course and ended higher on Friday, backed by a sharp gas rig count decline despite an early sell-off on ample supplies and fairly mild U.S. weather forecasts.
"The rig count decline definitely triggered some buying, but I think the growing storage deficit is also supportive," a southern-based commodity trading advisor said.
EUROCOAL : July ARA trades at $120.50/T, unchanged
LONDON, May 13 (Reuters) - European coal prices were stable on Friday during a day of quiet trading, while utilities had plentiful stocks on hand.
"There's been a minimal amount of utility buying, a few banks and traders in the market, but on the whole it's quiet and fairly balanced," one European utility source said.
COMMODITIES: Oil ends up after rollercoaster ride; CRB rebounds
NEW YORK, May 12 (Reuters) - Battered commodity markets found some stability on Thursday after a week of rollercoaster trade, with prices pulling out of steep early losses after the dollar gave up early gains.
"We're getting concerns about slowing growth, rising inflation, rising interest rates, money leaving the commodities sector," said Edward Meir, senior commodity metals analyst at MF Global in New York.
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