OIL: Crude stays little changed, set for worst month in a year
TOKYO, May 31 (Reuters) - U.S. crude futures were little changed on Tuesday, still on course to mark their biggest monthly fall in a year as a rally last month above $110 per barrel intensified caution that high energy costs will hamper economic growth.
A weaker dollar often increases investor demand for dollar-denominated commodities such as oil.
The New York Mercantile Exchange did not issue a settlement price on Monday, when trading on the floor was closed for the Memorial Day holiday, with all trading registered for May 31.
GLOBAL MARKETS: Euro rises versus dollar, Japan data lifts shares
SINGAPORE, May 31 (Reuters) - The euro rose against the dollar on Tuesday, while Japanese stocks gained on news industrial and manufacturing activity was showing signs of rebounding after a devastating earthquake in Japan in March.
The euro rose to a three-week high versus the dollar in early Asian business, touching 1.4354 on technically driven trade and a Wall Street Journal report that Germany was considering ending its push for an early rescheduling of Greek loans.
The Nikkei average was up almost half a percent at 9547.27, boosted by positive industrial and manufacturing activity data in Japan, and MSCI's index of Asia-Pacific stocks outside Japan was up 0.44 percent.
Surge in oil could prompt India to adjust deficit target-source
NEW DELHI, MAY 30 (Reuters) - India has no plans to increase its fiscal deficit target for this fiscal year but that may change if oil prices rise to $130-$140 per barrel, a senior finance ministry official with direct knowledge of the matter said on Monday.
The official also said high federal bond yields were a concern, but downplayed the idea that New Delhi could accelerate spending in order to address tight market liquidity.
Moody's: outlook stable for Russian oil & gas
MOSCOW, May 30 (Reuters) - A Moody's Investors Service vice president said on Monday the agency was keeping a stable outlook on Russian oil and gas companies, saying they looked strong relative to international players due to high output and low costs.
Most of Russia's oil and gas producers have posted strong income growth in the first quarter, thanks largely to a 36 percent rise in oil prices, while Rosneft remained the holder of the world's largest hydrocarbon reserves, at 22.77 billion barrels of oil equivalent.
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