LIBYA

A YouTube musical clip mocking embattled Libyan leader Muammar Gaddafi has become a hot hit in the Arab world, its Israeli creator said on Tuesday.

Libya's oil installations are undamaged and a cut in the country's oil output was caused by the departure of oil workers, the chairman of Libya's National Oil Corporation said on Tuesday.

Libya could descend into civil war if Muammar Gaddafi refuses to quit, the United States said on Tuesday, its demand for an end to his rule carrying new weight after word of unspecified Western military preparations.

Spot gold rose to a session peak at $1,421.35 an ounce and was up 0.6 percent at $1,419.66 an ounce by 1240 GMT. It rose 6 percent in February, its largest monthly rise since August, when the U.S. Federal Reserve first indicated that it would continue the massive money printing by monetizing government bonds.

U.S. stocks traded lower on Tuesday as a jump in oil prices renewed fears of hampered economic activity, offsetting a positive reading on manufacturing.

Crude output in Libya has fallen to levels significantly below its normal 1.65 million barrels per day (bpd) output, and well below its 1.47 million bpd OPEC production quota in the aftermath of violent anti-government protests, according to a senior energy analyst at IHS Global Insight.

U.S. stock index futures pointed to a positive open on Tuesday but gains could be capped by a jump in oil prices as investors awaited testimony from U.S. Federal Reserve Chairman Ben Bernanke.

U.S. stock index futures were up but eased from earlier highs on Tuesday after crude oil jumped and investors awaited testimony from Federal Reserve Chairman Ben Bernanke.

U.S. stock index futures were higher on Tuesday as investors awaited testimony from U.S. Federal Reserve Chairman Ben Bernanke, who is not expected to cut short the Fed's bond buying program.

Oil prices rose back above $112 a barrel on Tuesday due to concerns over unrest in the Middle East, though stock markets shrugged off the move, preferring to focus on optimism over the outlook for the U.S. economy.

Reports say many cities along the west of the country are being besieged as forces loyal to Gaddafi are trying to retake control of them. ABC News has reported, quoting diplomats, that thousands of people have died in the western border with Tunisia in the two weeks since violent protests erupted.

India's budget belied expectations of cuts in fuel taxes on Monday, denying any relief to state-run oil firms but boosting chances of a planned ministerial meeting taking up the issue of raising prices soon.

Even with Middle Eastern tumult tearing down governments and pushing up oil prices, China will stay a restrained regional player, reluctant to gamble a growing pile of economic chips for uncertain political gains.

During an exchange in the British House of Commons, Prime Minister David Cameron said that his number one priority is to remove Moammar Gaddafi from power and that his government may arm the opposition in Libya, according to The Financial Times.

Gold was little changed near $1,410 an ounce on Monday but notched its biggest monthly gain since August as chaos in Libya and rising tensions across the Middle East prompted investors to buy the metal as a safe haven. The US dollar lost its status and is at November lows.

Members of the music industry are calling on artists such as Beyoncé, Mariah Carey, Usher and 50 Cent to donate to charity the money they made performing at private parties for members of Moammar Gaddafi's famil

Libya was cut off from the Internet on the weekend of Feb. 19, but since then traffic in and out of the country is near normal.

The United States is taking financial action to block Lybia's leader and his family from using $30 billion-worth of assets in the country.

The Middle East unrest has been bad for the global markets. The following are stock markets that have been pummeled by the Middle East revolts; unrest either happened there or is expected to happen in the future.

The head of the International Monetary Fund warned on Monday that global economic growth could suffer if the price of oil stays at its current high level for an extended period.

Stocks were poised for their third straight month of gains on Monday as encouraging economic data and optimistic comments from billionaire investor Warren Buffett boosted investors' appetite.