Petrodollars to flow into US Treasuries despite Iran

(Reuters) - Analysts said although Iran held a small fraction of
government bonds, its initiative to ditch the falling dollar
was further confirmation of diversification away from the
currency and related assets.




"It's negative for Treasuries overall because it does fit
with the idea that there is a diversification away from the use
of the dollar by various means," said Tony Crescenzi, chief
bond market strategist at Miller, Tabak & Co. in New York.


Read more at Reuters.com Bonds News

Oil May Rise Next Week on Supply Risks, Refining Disruptions, Survey Shows

(Bloomberg) -- Crude oil may rise next week on
concern that oil supplies from Nigeria and Iran may be curbed and
U.S. gasoline output will drop because of unexpected refinery
closures.

Sixteen of 36 analysts surveyed, or 44 percent, said oil
prices will increase. Fourteen, or 39 percent, said prices will
fall and six forecast little change. Last week, 49 percent of
respondents said prices would rise.


Read more at Bloomberg Energy News

UPDATE 1-US SEC's country watch list draws fire

(Reuters) - NEW YORK, July 5 - U.S. securities regulators
have stirred up a controversy with a new online tool that
allows investors to search for companies with ties to countries
the State Department has designated "state sponsors of
terrorism."




Both business and humanitarian groups say the list,
available on the U.S. Securities and Exchange Commission's Web
site, is ill-conceived. The tool provides links to companies
whose annual reports contain "some reference" to business
related to Sudan, Syria, North Korea, Iran and Cuba.


Read more at Reuters.com Government Filings News

Indian Explorers Lose Oil Rigs as Mexico, U.K. Step Up Offshore Drilling

(Bloomberg) -- Indian oil explorers led by Oil &
Natural Gas Corp. are losing rigs to rivals in countries such as
Mexico and U.K. as higher prices spur drilling, a report by
service provider Baker Hughes Inc. shows.

The number of rigs used in India slipped to 81 in May from
86 in January, Baker Hughes said in a monthly report on its Web
site June 15. At the same time, the worldwide total excluding
the U.S., Canada, Sudan and Iran, increased to 1,007 from 972.


Read more at Bloomberg Emerging Markets News

Oil Is Little Changed After Report of Increased Gasoline Supply, Demand

(Bloomberg) -- Crude oil was little changed after a
government report showed that U.S. gasoline inventories and
consumption increased last week.

U.S. gasoline supplies rose 1.43 million barrels last week,
an Energy Department report showed today. Gasoline use averaged
9.36 million barrels a day in the past four weeks, up 1.2 percent
from a year ago, the department said. Refineries operated at the
highest rate since Jan. 5. Prices also rose after UN inspectors
said they were learning less about Iran's nuclear program.


Read more at Bloomberg Energy News