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Iran's crude exports to its biggest customer, Asia, fell by a quarter in 2012 and shipments this year are expected to drop by at least 12 percent under U.S. sanctions pressure, but ample alternative supplies will keep refiners flush with oil.
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"It's inevitable that that's going to be on the table," said Jake Colvin, vice president at the National Foreign Trade Council, which represents major U.S. exporters such as Boeing Co, Microsoft Corp and Caterpillar Inc..
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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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*Middle East tension stokes supply worries. LONDON, Feb 1- Brent crude oil rose towards $116 on Friday, heading for a sixth consecutive week of gains on rising economic optimism and tension across the Middle East, the world's biggest oil region.
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LONDON, Feb 1- Gold firmed on Friday as a rise in stock markets and a slide in the dollar to 14- month lows against the euro helped it offset the previous session's drop, but the move was muted ahead of a monthly U.S. payrolls report.
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The euro rose more than 1 percent to hit 126.09 yen, its highest since April 2010, extending gains after breaking above an options barrier at 126 yen. Against the dollar, the euro also broke above a similar barrier at $1.3650 to hit $1.3671, its strongest since November 2011.
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LONDON, Feb 1- Copper rose on Friday as confidence in the outlook for global growth gathered pace, with investors awaiting a labour market report from the United States for further evidence of the health of the world's largest economy.
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JAKARTA, Feb 1- Indonesia's trade deficit narrowed in December, but exports fell much more than expected and some economists predict that 2012' s first annual deficit in history might not be the country's last.
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*China's official PMI eases to 50.4 in January. SINGAPORE, Feb 1- London copper rose on Friday but stayed off four-month highs struck in the previous session as growing confidence about a global economic recovery overcame a tepid expansion in China's factory sector in January.
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*China official PMI slightly lower than expected. SINGAPORE, Feb 1- Brent crude climbed towards $116 a barrel on Friday, its highest level in more than three months, as escalating tension in the Middle East stoked supply worries. Brent had risen 23 cents to $115.78 a barrel by 0737 GMT, after an earlier high of $115.91 marking its highest since mid-October.
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*MSCI Asia ex- Japan steady. European markets are likely to inch higher, with financial spreadbetters predicting London's FTSE 100, Paris's CAC-40 and Frankfurt's DAX would open up as much as 0.2 percent.
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JAKARTA, Feb 1- Indonesia's trade deficit narrowed in December, but exports fell much more than expected and some economists predict that 2012' s first annual deficit in history might not be the country's last. We doubt it, "wrote Credit Suisse economist Robert Prior-Wandesforde wrote in a research note.
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*China official PMI slightly lower than expected. SINGAPORE, Feb 1- Brent crude hovered on Friday above $115 a barrel, its highest level in more than three months, as escalating tension in the Middle East stoked supply worries. Brent had risen 27 cents to $115.82 a barrel by 0552 GMT, after an earlier high of $115.91 marking its highest since mid-October.
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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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*China factory PMI shows mild rebound. Three-month copper on the London Metal Exchange closed at $8,290 a tonne, up from a close of $8,165 on Thursday when it touched a 3-1/ 2 month intraday high at $8,291.25 a tonne.
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*Stability expected through Lunar New Year. SHANGHAI, Feb 1- China's yuan touched a nearly four-week low on Friday as the central bank set another soft fixing Of its official midpoint in response to weakness in the yen and other Asian currencies.
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*China official PMI slightly lower than expected. SINGAPORE, Feb 1- Brent crude hit its highest in more than three months on Friday and held above $115 a barrel as escalating tension in the Middle East stoked supply worries. But disappointing economic data from China, the world's second largest oil consumer, capped gains.
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SINGAPORE/ SYDNEY, Feb 1- The yen hit multi-year lows against its G3 peers on Friday, having posted its biggest monthly decline in 12 years versus the euro as the market positioned for more aggressive easing from the Bank of Japan.
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JAKARTA, Feb 1- Indonesia reported a smaller-than-expected trade deficit in December that took its trade gap for 2012- the country's first ever- to $1.63 billion. For December, the deficit was $0.15 billion, compared with November's $0.48 billion, the country's statistics bureau announced on Friday.
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SINGAPORE, Feb 1- London copper rose on Friday to hold near four-month highs struck the session before after China's factory output grew in January, bolstering confidence in a global economic recovery. *The most-traded May copper contract on the Shanghai Futures Exchange edged down 0.13 percent to 59,480 yuan a tonne.
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SINGAPORE, Feb 1- Gold traded largely unchanged on Friday, heading for a small weekly rise as investors await key U.S. employment data to assess the state of recovery in the world's top economy. *Spot gold traded little changed at $1,662.15 an ounce by 0037 GMT, on course for a weekly rise of 0.2 percent, paring some losses from the previous week's 1.5- percent slide.