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CNBC's Sharon Epperson reports oil is hitting record levels. Also, Paul Sankey, Deutsche Bank analyst, weighs in with how to play the oil space, amid growing unrest in Turkey.
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*Navy official wants to check company's quality practices. WASHINGTON, Feb 1- The Pentagon is inspecting other components of the F-35 fighter jet in addition to the faulty fuel lines blamed for the grounding of the Marine Corps version of the warplane, two sources familiar with the program said on Friday.
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CNBC's Sharon Epperson reports oil is hitting record levels. Also, Paul Sankey, Deutsche Bank analyst, weighs in with how to play the oil space, amid growing unrest in Turkey.
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LONDON, Feb 1- Brent crude oil rose above $116 on Friday to reach a four-month high after a suicide bombing attack on the U.S. embassy in Ankara increased the focus on tension across the region. Brent futures for March rose $1.18 to a high of $116.73 a barrel, its highest since mid-September, before easing back to around $116.25 by 1500 GMT.
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JOHANNESBURG, Feb 1- An external committee appointed by African mobile phone group MTN to investigate claims by rival Turkcell of corrupt dealings in Iran has dismissed the allegations as "a fabric of lies, distortions and inventions".
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BAMAKO/ TIMBUKTU, Mali- Human rights groups said on Friday a French-led offensive against Islamists in Mali had led to civilian deaths in airstrikes and ethnic reprisals by Malian troops, a day before President Francois Hollande was due to visit the country.
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The spread had narrowed earlier this month with the start up of the expanded Cushing to Texas Seaway pipeline, which had been expected to to draw down Midwest inventories bulging from rising North American production.
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VIENNA, Jan 31- The two consortiums competing to pipe Azerbaijan's Caspian Sea gas into Western European markets still have an equal chance of success, the Shah Deniz gas field operator BP said on Thursday. "I genuinely believe both pipelines at the moment have an equal chance," said Al Cook, who is in charge of BP's Azeri operations. "
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*Diageo seeks to repeat success of Ciroc vodka for tequila. ZURICH, Jan 31- Diageo, the world's biggest spirits group, signalled a more reticent acquisition strategy following a recent buying spree, saying it wants to develop its own tequila brand after ending talks to buy a stake in Jose Cuervo.
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ZURICH, Jan 31- Diageo, the world's biggest spirits group, reported steady sales growth in the second half of 2012, driven by price rises and the growth in the United States of premium brands like Ketel One vodka and Bulleit Bourbon.
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*Citi is in 100 countries, with consumer banking in 40. NEW YORK, Jan 31- Citigroup Inc is looking to pull out of consumer banking in more countries in an effort to lower costs and boost profits, according to two people familiar with the matter.
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DUBAI, Jan 30- Iran has called for foreign help to recover a $40 million gas platform from the Gulf seabed, its Mehr news agency reported, in a rare request by an industry isolated by sanctions.
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*Gulf investors drawn to Turkey. Gulf Arab investors, who traditionally poured money into assets in debt-choked U.S. and European markets, have helped drive the explosion in demand, joining funds from Europe, Asia and the United States.
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*Banks irked due to Turkey's booming gold trade with Iran. DUBAI, Jan 30- Trade in Turkish gold bars to Iran via Dubai is drying up as a growing number of banks and dealers refuse to buy the bullion to avoid the risks associated with Turkey's gold-for-gas trade with Iran.
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*Exxon to decide between Kurds and Baghdad. ARBIL, Iraq, Jan 30- Behind the closed doors of their offices in the United States, top executives and lawyers for Exxon Mobil are poring over two sets of contracts, weighing a decision that could shift the balance of power in Iraq.
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LONDON, Jan 29- Iraqi Kurdistan said it is negotiating with two or three major international companies to operate oilfields and expects to announce the outcome in about a month, in a move likely to further heighten tensions with Baghdad.
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BRUSSELS, Jan 29- More than two-thirds of countries, including many of the world's largest arms traders, have inadequate safeguards to prevent corruption in their defence sectors, a survey by an anti-corruption watchdog said on Tuesday.
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WASHINGTON, Jan 28- Pentagon and industry investigators have identified a manufacturing problem as the most likely cause of an engine failure that led to the grounding of the Marine Corps version of the Lockheed Martin Corp F-35 fighter jet, a spokesman for engine maker Pratt& Whitney said on Monday.
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*Technical pressure adds to platinum selling below $1,700. *Russia, Turkey sharply added gold reserves in December. NEW YORK, Jan 28- Platinum posted its biggest one-day drop in over a month on Monday, as news the world's largest platinum producer Anglo American Platinum agreed to postpone massive job cuts eased supply fears.
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CAIRO/ ALEXANDRIA- Protesters clashed with police across Egypt on Friday on the second anniversary of the revolt that toppled Hosni Mubarak, taking to the streets against an elected Islamist president whose opponents say is trampling over the new democracy.
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Ibrahim Abdulaziz Al-Assaf, Saudi Arabia's finance minister, highlights the impact of Syria's crisis on neighboring Turkey and Lebanon, and in particular, Jordan.