Energy Update

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MOSCOW, July 3 (Reuters) - Russian President Vladimir Putin must be finding it hard to contain a wry smile as the European Union struggles with Greece's debt problems.

LONDON, July 3 (Reuters) - U.S. crude stocks unexpectedly rose by almost 2.4 million barrels last week, breaking a run of eight consecutive weekly declines and sending oil prices sharply lower.

MELBOURNE/TOKYO, July 3 (Reuters) - Supply of high quality copper concentrate shrank more than expected in the first half of this year due to output delays in top miner Chile, squeezing the pipeline for metal producers and likely supporting prices later in 2015, traders said.

MELBOURNE/TOKYO, July 3 (Reuters) - Supply of high quality copper concentrate shrank more than expected in the first half of this year due to output delays in top miner Chile, squeezing the pipeline for metal producers and likely supporting prices later in 2015, traders said.

SYDNEY/SHANGHAI, July 3 (Reuters) - Iron ore prices dropped to the lowest in more than two months on Friday, sending shivers through the mining industry and heightening worries that Chinese economic activity is slowing just as ore piles up at its ports.

** BP shares up c.2 pct, after rising 5 pct yesterday, following news of its settlement to resolve claims from its Gulf of Mexico oil spill five years ago

The Greek debt drama, China's slower growth and the potential date for the US rate increase all weigh on investor sentiment.

* Brent slips below $62 a barrel (Adds comment, updates prices)

HONOLULU, July 2 (Reuters) - A Swiss man attempting to circumnavigate the globe with an aircraft powered only by the sun's energy has broken a world record for the longest non-stop solo flight, the project team said on Thursday.

SYDNEY, July 3 (Reuters) - Shares in Australia's biggest iron ore miners tumbled on Friday, after the price of the steel making raw material hit the lowest in more than two months amid further evidence of growing shipments to China.

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