Oil Rises More Than $5 to a Record on Speculation Israel May Attack Iran Crude oil and gasoline rose to records on growing concern about violence in the Middle East and supply disruptions from Brazil to Nigeria.

Gazprom May Start Reselling Libyan Oil and Gas This Year, Spokesman Says OAO Gazprom may start reselling Libyan oil and gas this year, as the Russian state-run energy producer strengthens its position as a supplier to global markets.

BAE Bribery Probe Proving Saudi Oil Rescues Shareholders From Lost Revenue Saudi Arabian oil and sales of armored vehicles to the U.S. military may protect BAE Systems Plc, Europe’s biggest defense contractor, from a bribery probe linked to a 43 billion-pound ($85 billion) weapons deal.

Persian Gulf Shares Retreat on Iran Concern, Led by Shuaa Capital, Q-Tel Persian Gulf shares declined, as foreign investors exited the region’s markets on concern the standoff over Iran’s nuclear program may lead to a military conflict.

Gold Heads for Fourth Weekly Rally on Inflation Concern, Dollar Weakness Gold headed for its fourth weekly gain in London, as a weaker dollar and record energy prices spurred investors to buy the metal as a haven from inflation.

Persian Gulf Tanker Rates May End Seven-Day Drop as August Demand Begins The cost of shipping Middle East crude to Asia, the world’s busiest route for supertankers, may halt a seven-day drop on signs that demand for vessels for next month is strengthening.

Syria Begins Buying Gas From Egypt at Price Linked to Oil, Al-Alam Reports Syria began buying natural gas by pipeline from Egypt at a price linked to the cost of oil, the Al- Alam al-Yom newspaper reported.

http://www.bloomberg.com/news/regions/mideast.html

 

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