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Oil dips on rising US rig count, China market probe

Oil prices dropped on Friday as a rising U.S. rig count stoked fears of oversupply and after Chinese regulators opened an investigation into suspected stock market manipulation.
Source: Reuters
UPDATE 1-Oil prices drop on rising US rig count, China stock market probe

SINGAPORE, July 3- Oil prices dropped on Friday as a rising U.S. rig count stoked fears of oversupply and after Chinese regulators opened an investigation into suspected stock market manipulation. Front-month U.S. crude futures were trading at $56.72 per barrel at 0212 GMT, down 21 cents from their last settlement. That means that U.S. crude has fallen from a price...
Source: Reuters | By: Henning Gloystein
Oil prices drop on rising US rig count, China stock market probe

*China watchdog probes mkt after over stock slump since June. Front-month U.S. crude futures were trading at $56.54 per barrel at 0038 GMT, down 39 cents from their last settlement. The rising U.S. rig count adds to near record production by OPEC and Russia.
Source: Reuters | By: Henning Gloystein
Greece default: Why isn't gold budging?

Bullion's stubborn non-reaction to Greece's default on its crucial 1.5 billion euro repayment ($1.7 billion) to the International Monetary Fund (IMF) couldn't be more disappointing to gold bugs.
Source: CNBC.com | By: Ansuya Harjani
GLOBAL ECONOMY-Euro zone factory growth stutters as China, Japan heals

July 1- Asia's largest economies showed hints of healing last month but euro zone factory growth remained tepid as Greek debt talks, and the country's possible departure from the bloc, dominated debate in Europe. Speculation Athens would fail to make June 30' s 1.6 billion euro repayment to the International Monetary Fund, heightening expectations Greece...
Source: Reuters | By: Jonathan Cable and Ian Chua
Asian shares rise after Greek default, but China lags

Asian shares outside China drifted higher on Wednesday as traders digested a slew of data and news of a Greek default.
Source: CNBC.com | By: See Kit Tang
UPDATE 2-Oil prices down over 1 pct as Greece defaults, output soars

*Greece not able to repay 1.6 bln euros owed to IMF. *OPEC, U.S. output rises to multi-year highs. SINGAPORE, July 1- Oil prices fell over 1 percent on Wednesday after Greece became the first developed economy to default on a loan with the International Monetary Fund, and as both U.S. and OPEC production hit new records.
Source: Reuters | By: Henning Gloystein
GLOBAL ECONOMY-China and Japan show hints of healing, rest of Asia still struggling

*China activity surveys hint at some leveling out, no rebound. SYDNEY, July 1- Growth in China's services sector picked up in June while big Japanese companies planned to ramp up spending at the fastest pace in a decade, offering hope that prospects are improving for Asia's largest economies despite sluggish factory growth. Wednesday's data fueled expectations...
Source: Reuters | By: Ian Chua
UPDATE 2-China June factory, services surveys fuel hopes economy leveling out, no quick rebound seen

BEIJING, July 1- Activity in China's factory sector expanded slightly in June though not as much as expected, while growth in the services sector sped up, official surveys showed, offering some signs that the world's second-largest economy may be starting to slowly level out after a raft of support measures. Beijing has rolled out a flurry of steps since last year,...
Source: Reuters | By: Kevin Yao
UPDATE 1-Oil prices drop as Greece defaults and output soars

*OPEC, U.S. output rises to multi-year highs. SINGAPORE, July 1- Oil prices fell on Wednesday after Greece became the first developed economy to default on a loan with the International Monetary Fund and as both U.S. and OPEC production hit new records. "Iraqi crude production climbed to a record level this month, with OPEC crude oil output estimated to have reached...
Source: Reuters | By: Henning Gloystein