GLOBAL MARKETS: Euro gains on Greece report, China PMI awaited
SINGAPORE, June 1 (Reuters) - The euro traded around three-week highs versus the dollar on Wednesday, buoyed by hopes for a fresh bailout package for debt-laden Greece, while Asian stocks were little changed as traders awaited manufacturing data from China.
The China official purchasing managers' index for May is due around 0100 GMT and is expected to show a further weakening in factory activity growth as manufacturers suffer from bank credit curbs and growing power shortages.
A weak reading would underline signs of a global slowdown and could prompt investors to dump riskier assets such as equities and commodities.
OIL: Crude extends gains, focus on US oil industry data
TOKYO, June 1 (Reuters) - U.S. crude futures hovered near a three-week high on Wednesday as prices extended gains into a third straight session, helped by concerns over a disruption of supply, with a focus on weekly inventory data due from the U.S. oil industry later in the day.
The contract hit a three-week high of $103.39 on Tuesday, propped up by the closure of a pipeline carrying Canadian crude to the United States after storm-related power outages.
NATURAL GAS: Natgas ends more than 3 pct higher on hot weather
NEW YORK, May 31 (Reuters) - U.S. natural gas futures jumped on Tuesday, ending more than 3 percent higher as hot weather boosted demand for gas-fueled electricity to power air conditioning.
"I think we saw some pretty good volume," said Addison Armstrong, senior director of market research with Tradition Energy in Stamford, Connecticut. "July-like temperatures along the East Coast at the beginning of June caught the attention of the market."
EURO COAL: German nuclear decision bolsters spot
LONDON, May 31 (Reuters) - Coal prices rose by around 75 cents on Tuesday in line with stronger oil and following Germany's decision to permanently shut 8 suspended nuclear reactors by 2022.
"For once, the European basin is more interesting than the Pacific basin thanks to Germany," said Amrita Sen,analyst with Barclays Capital.
COMMODITIES: Copper and oil firm up, gold falls from 4-wk high
NEW YORK, May 31 (Reuters) - Copper, oil and soft commodities rose on Tuesday, with the red metal tapping a four-week peak on growing hopes for a second aid package for Greece and as the U.S. dollar dropped, prompting investors to seek riskier assets.
"It's a combination of investors looking for return wherever they can get it to beat inflation and it's a reaction to the U.S. dollar," said Sean McGillivray, vice president and head of asset allocation for Great Pacific Wealth Management in Oregon, said about the commodities that moved higher.
US gasoline price falls 5.5 cents to 7-week low-Govt
WASHINGTON, May 31 (Reuters) - U.S. gasoline fell to its lowest level in seven weeks and diesel fuel dropped below $4 a gallon for the first time in two months, the Energy Department said on Tuesday.
The national price for regular unleaded gasoline declined 5.5 cents over the last week to $3.79 a gallon, the department said in its weekly survey of service stations.
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