GLOBAL MARKETS: Euro edges up, Aussie holds firm ahead of rates
SINGAPORE, June 7 (Reuters) - The euro edged up in early Asian trade, steadying from a slide in a relatively subdued session overnight after the Eurogroup chairman said the common currency was overvalued.
The Australian dollar held firm ahead of the Reserve Bank of Australia's interest rate decision due at 0430 GMT. Most economists polled by Reuters expect the central bank to hold rates at 4.75 percent.
OIL: Oil falls on OPEC hike possibility, demand concern
NEW YORK, June 6 (Reuters) - Oil fell on Monday in thin and choppy trading on raised expectations OPEC will raise production targets this week and concerns about the economic outlook.
"Today's lower (oil prices are) largely related to the usual bearish combo of stronger dollar and a soft stock market," Jim Ritterbusch, president at Ritterbusch & Associates in Galena, Illinois, said in a note.
NATURAL GAS: Chart buying, weather drives natgas to higher close
NEW YORK, June 6 (Reuters) - U.S. natural gas futures ended higher on Monday, backed by technical buying after last week's break of key resistance and forecasts for more heat this week that should boost demand from Texas to New York.
"There's near record heat across much of the South, but if the heat is transitory, prices will quickly come back down," a Texas-based trader said.
EURO COAL: Prices nudge higher by 75 cents
LONDON, June 6 (Reuters) - Prompt European coal prices rose slightly by around 75 U.S. cents a tonne on Monday as Germany's cabinet backed the nuclear exodus and South African exports showed a sharp fall.
"There's a lot of coal around for the next several weeks and although there is stockpile space for it and some German buying, it ought to be pushing prices lower," one European trader said.
COMMODITIES: Oil, grains fall on supply outlook, sector slumps
NEW YORK, June 6 (Reuters) - Oil on Monday posted its biggest daily drop in two weeks, on fear of OPEC production hikes, and grains prices hit multi-week lows as improved weather suggested fewer of the planting delays that had fueled last month's rally.
"There's a lot of little things adding up to a good down day in the market," said Tim Hannagan, agricultural analyst at PFG Best in Chicago.
Asian refiners plan to expand as fuel demand grows
KUALA LUMPUR, June 6 (Reuters) - Refineries from Malaysia, China to India are investing billions of dollars in a fresh wave of capacity expansion to feed rising regional demand, while counterparts in the U.S. and Europe restructure or shut plants as fuel sales slow.
Fast-growing Asian economies are driving global fuel demand growth, taking an increasing share of the oil market from developed economies.
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