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BHP Billiton warns global commodity supply glut to persist

CANBERRA, June 3 (Reuters) - BHP Billiton , the world's biggest mining company, warned on Wednesday that a global oversupply of commodities that is putting pressure on prices is likely to be be prolonged.

Australian shares seen higher as iron ore jumps

SYDNEY, June 3 (Reuters) - Australian shares are likely to snap a two-day losing streak on Wednesday led by higher iron ore prices, although investors will be cautious ahead of GDP data due out later in the day. Investors also will be looking for direction on commodity prices from senior executives of BHP, Whitehaven Coal and other miners attending a Minerals Council of Australia seminar in Canberra. Share price futures rose 6 points or 0.1 percent to 5,629. The benchmark fell 99.4 poin

UPDATE 1-Environmentalists sue over Shell plan to drill in Arctic

SAN FRANCISCO, June 2 (Reuters) - Several environmental groups sued the United States on Tuesday to derail Royal Dutch Shell PLC's plan to drill in the Arctic Ocean as soon as July.

UPDATE 1-Core Gulf OPEC members in 'consensus' on oil ceiling -delegate

VIENNA, June 2 (Reuters) - Core Gulf OPEC members and others have a consensus to keep the organization's oil production ceiling intact at its meeting this week, a senior Gulf OPEC delegate told Reuters on Tuesday, reinforcing a view among a growing chorus of members.

Chevron deploys robots to see damage at Big Foot site in US Gulf

June 2 (Reuters) - Chevron Corp has deployed robots on the seafloor near its Big Foot deepwater oil project, aiming to find just how much damage it must contend with after six giant tendons sank and indefinitely delayed the start of production at the platform.

Core Gulf OPEC members in 'consensus' to keep oil ceiling -delegate

VIENNA, June 2 (Reuters) - Core Gulf OPEC members and others have a consensus to keep the organization's oil production ceiling intact at its meeting this week, a senior Gulf OPEC delegate told Reuters on Tuesday, reinforcing a view among a growing chorus of members.

UPDATE 1-Colombia court further restricts use of main coal railway

BOGOTA, June 2 (Reuters) - Colombia's Constitutional Court has extended a restriction on the overnight use of the country's main coal railway, Fenoco, and has partially suspended construction work on an adjacent track for three months, it said on Tuesday.

UPDATE 1-Ameren will not extend Noranda aluminum plant's power contract

NEW YORK, June 2 (Reuters) - Noranda Aluminum Holding Corp will have to seek a new power supplier or negotiate a new contract with Ameren Corp in five years to keep its Missouri smelter running, the latest obstacle for its only primary aluminum plant.

Environmentalists sue over Shell plan to drill in Arctic

SAN FRANCISCO, June 2 (Reuters) - Several environmental groups sued the United States on Tuesday to derail Royal Dutch Shell PLC's plan to drill in the Arctic Ocean as soon as July.

UPDATE 2-Key U.S. House official warms to U.S. oil exports

WASHINGTON, June 2 (Reuters) - The Republican chairman of the House of Representatives' energy panel on Tuesday said lifting the 40-year-old ban on U.S.

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