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COMMODITIES DAYBOOK: Natural Gas Rises on Hot Weather Forecast

June 18 (Bloomberg) -- Natural gas futures rose to the highest price in more than three weeks on speculation that hotter-than-normal weather will boost demand from power plants to run air conditioners.

WHAT TO WATCH:
(ALL TIMES NEW YORK)

4:00 a.m. LME stockpiles
6:00 a.m. South African grain import/exports data
2:00 p.m. USDA Cattle, Hog Slaughter
4:30 p.m. API U.S. oil, gasoline, distillate supplies

TOP STORIES
Natural Gas Rises to Three-Week High on Forecasts of Hot Weather
Crude Falls for First Time in Three Days on European Concern
Gasoline, Heating Oil Sink as Spain Concern Outweighs Greek Vote
Copper Rises as Builder Confidence Tempers Spanish Debt Concern
Gold Falls, Ending Longest Rally Since August, on Greek Vote
Corn Jumps Most Since March as Hot Weather Curbs U.S. Prospects

ON THE FRONT PAGES
Cotton Daily-Trading Limit Climb to 5 Cents Tomorrow: ICE Link
Norway Oil Minister Expects Oil to Remain High: Capital.gr Link
Ukraine’s Grain Yields Seen Declining on Weather, Interfax Says

ECONOMIC DATA
(ALL TIMES NEW YORK)
1:00 a.m. Japan’s Final April Index of Business Conditions
2:45 a.m. France June Business Confidence Indicator
4:30 a.m. U.K. May Inflation, Retail Price Index
5:00 a.m. Germany June Expectation of Economic Growth
8:30 a.m. U.S. May Housing Starts

TV HIGHLIGHTS
6:30 a.m. Harvard Economics Professor Martin Feldstein
9:00 a.m. U.S. Representative James Himes
2:30 p.m. Tel Aviv Stock Exchange CEO Ester Levanon

MARKETS (settlement prices):
                                   Last     Chg  %Chg
WTI Crude Oil                    $83.27    -0.76   -0.9
Gasoline                          $2.66    -0.408  -1.5
Natural Gas                       $2.64    +0.168  +6.8
Copper                            $3.3955  +0.0120 +0.4
Gold                          $1,625.70    -1.30   -0.1
Wheat                             $6.3025 +20.75   +3.4
U.S. Dollar Index                 81.95    +0.318  +0.4
MSCI All-Country Index           306.67    +1.07   +0.4

To contact the reporter on this story: Dan Murtaugh in Houston at dmurtaugh@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net

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