Iran
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Malcolm Graham-Wood, senior advisor, at VSA Capital, tells CNBC that the BP stake in Rosneft gives them access to the Russian artic but they are now being dictated to by Vladimir Putin.
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Oil also tracked equities, with the S&P 500 closing at an all-time high for a fifth day on Wednesday following a slew of positive numbers from the United States to China and Germany.
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Iran converts the reserves it built up from decades of selling oil, estimated to be worth $60 billion to $100 billion, into local currencies in order to finance imports and stabilize its budget, the lawmakers say. The United States and the European Union believe that Iran is enriching uranium to levels that could be used in nuclear weapons.
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WASHINGTON, May 8- A bipartisan group of U.S. senators introduced legislation on Wednesday to block Iran's access to billions of dollars worth of foreign currency reserves, the latest step by Congress to try to slow the Islamic Republic's disputed nuclear program.
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*Tehran skyline transformed by construction boom. May 8- The Iranian property developer leant back in his chair, drew hard on a shisha pipe and looked down at photographs of a Tehran apartment block on his tablet computer.
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NEW YORK, May 7- The euro held steady against the dollar but fared well against other major European currencies on Tuesday as surprisingly strong German data and a solid sale of Portuguese bonds allayed concerns about the euro zone economy and its debt burden.
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BEIJING, May 7- Bank of China Ltd has shut the account of North Korea's main foreign exchange bank, which was hit with U.S. sanctions in March after Washington accused it of helping finance Pyongyang's nuclear weapons programme.
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NEW YORK, May 7- The euro fared well against most currencies on Tuesday as surprisingly strong German data and a solid sale of Portuguese bonds allayed euro zone economic and debt concerns, prompting investors to pare positions against the common currency.
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UNITED NATIONS, May 7- The U.N. peacekeeping force in southern Lebanon has protested to Israel after it observed increased violations of Lebanese air space by Israel, which carried out raids in Syria to target what it said were Iranian missiles bound for Hezbollah militants.
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ANKARA, May 7- Turkish Prime Minister Tayyip Erdogan condemned on Tuesday Israeli air strikes on targets near Damascus, saying they were an opportunity for Syrian President Bashar al-Assad's government to cover up its own killings. "The air strike Israel carried out on Damascus is completely unacceptable.
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*Iran reliant on shipping for many imports. Feeder services, which transport ship containers to Iran especially from larger ports in the United Arab Emirates, are also used.
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BAGHDAD/ ARBIL, Iraq, May 7- A lasting solution to Iraq's dispute with its Kurdish north is unlikely even if recent talks between the two sides lead to a resumption of oil exports from the autonomous region.
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BAGHDAD/ ARBIL, Iraq, May 7- A lasting solution to Iraq's dispute with its Kurdish north is unlikely even if recent talks between the two sides lead to a resumption of oil exports from the autonomous region.
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BEIJING, May 7- Bank of China Ltd has shut the account of North Korea's main foreign exchange bank, which was hit with U.S. sanctions in March after Washington accused it of helping finance Pyongyang's nuclear weapons programme.
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BEIJING, May 7- Bank of China Ltd has shut the account of North Korea's main foreign exchange bank, which was hit with U.S. sanctions in March after Washington accused it of helping finance Pyongyang's nuclear weapons programme.
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NEW YORK, May 7- The euro firmed against most currencies on Tuesday after German industrial orders data were stronger than expected, but expectations the European Central Bank might ease monetary policy further could limit its gains.
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INTERNATIONAL/REGIONAL* GLOBAL MARKETS-Asian shares steady on higher Wall Street* Oil rises to over $105 per barrel on Mideast tensions* MIDEAST STOCKS-Dubai, Kuwait rally pauses; Gulf mkts mixed* Turkish markets mixed as lira rise signals more rate cuts* Gold ticks lower as equities gain, ETFs plunge* Israel says' no winds of war' despite Syria air strikes* Bombs, mosque attack kill 17 in Iraqi capital- police* Kerry to' make another stab' at Syria deal with Russia* UN distances self from report Syrian rebels used nerve gas* Influential U.S. senator offers bill to arm Syria rebels* Iran presidency candidates to step forward, finally.
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NEW YORK, May 6- Billionaire commodities trader Andy Hall is resolute that oil prices will rise longer-term, even after April's tumble triggered the worst slump in his flagship hedge fund for nearly a year.
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By Marcus George and Yeganeh Torbati. DUBAI, May 6- Few Iranian presidential elections have been so unpredictable but the next few days will at least narrow down who will stand in the ballot on June 14, for which candidate registration starts on Tuesday and ends on Saturday.
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"The Foreign Ministry strongly condemns and categorically rejects a visit by an Iranian parliament delegation to the islands," the UAE state news agency WAM said. "This visit flagrantly infringes on the sovereignty of the UAE and undermines all exerted efforts towards finding a peaceful resolution for this issue," it said.
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*Oil rises modestly, Middle East supply in focus. NEW YORK, May 6- U.S. stock index futures pointed to a flat open on Monday as investors paused after stocks hit record highs last week, with the S&P 500 up more than 13 percent so far this year.