OIL: Crude up on weak dollar but gains seen limited
TOKYO, June 6 (Reuters) - U.S. crude futures headed higher on Monday as the dollar remained soft but gains were set to be limited after weak U.S. jobs data added to evidence of a marked economic slowdown.
"We need to increase by at least one million barrels a day," a Gulf OPEC delegate told Reuters in Vienna on Sunday. "We're not happy with current prices."
NATURAL GAS: Natural gas ends lower; weather, economy weigh
NEW YORK, June 3 (Reuters) - U.S. natural gas futures slid nearly 2 percent on Friday, pressured by weaker crude futures, poor economic data, moderating weather forecasts and improved nuclear generation.
"Natural gas prices were a victim of sluggish economic data, indicating a soft patch for the U.S. economy, as well as cooler temperatures covering key consuming regions. Given this, demand over the short-term should soften resulting in traders taking some long positions off the table," said Caprock Risk Management's senior analyst, Chris Jarvis.
COMMODITIES: U.S. jobs data helps lift gold and copper
NEW YORK, June 3 (Reuters) - Gold and copper rose on Friday, as the dollar tumbled after weaker-than-expected U.S. jobs data, while U.S. soybeans hit a two-month high as corn planting weather improved, easing pressure on farmers to switch acres to soy.
"Suddenly QE3 is back on. It doesn't matter what the reality is, it matters what the perception is, and the perception is that QE3 will at least be debated again instead of being tossed on the fire," said Dennis Gartman of The Gartman Letter.
GLOBAL MARKETS: Stocks slip on slower growth, euro drifts higher
SINGAPORE, June 6 (Reuters) - - Japanese and Australian stocks slipped on Monday after weak U.S. employment data set a cautious tone to the week, further hobbling the dollar and putting the rising euro on a path to $1.50 ahead of a European Central Bank policy meeting later in the week.
The smallest U.S. jobs growth in eight months in May reflected a global business cycle shifting to slower growth and confirmed what many investors had been already anticipating by taking a defensive stance in their portfolios.
Total CEO says oil market is well supplied
KUALA LUMPUR, June 6 (Reuters) - There is no shortage of oil supply, the chief executive of the French oil major Total said on Monday.
"OPEC will do its job," Christophe De Margerie told reporters at a conference in Kuala Lumpur.
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