Thursday, January 5, 2012

Is Libya Sliding Toward Civil War?

60 slain in Iraq bombings

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UPDATE 4-Oil steady as dollar gains cap rise on Iran tension | Reuters

LONDON, Jan 5 (Reuters) - Oil was steady at around $113.80 a barrel on Thursday as geopolitical tensions kept a floor under prices, following a European Union agreement to stop importing Iranian crude, but a stronger dollar capped gains.

New Sanctions Target Iran Oil Sales - WSJ.com

LONDON -- U.S. sanctions against Iran's central bank, if combined with an increasingly likely European oil embargo, are likely to significantly dent Tehran's oil revenue.

But though experts say the sanctions' impact probably will sink in only gradually, they already have started to drive Iran's currency down.

"We could see anywhere between a 5% and 30% decrease in Iranian oil revenue this year, depending on whether the EU enacts an embargo and how aggressively U.S. sanctions are applied," said Trevor Houser, a partner at New York-based economic-research company Rhodium Group.

Baghdad bombs target Iraq's Shiites; 27 dead - CBS News

New wave of blasts raises specter of Iraq civil war - World news - Mideast/N. Africa - Conflict in Iraq