LIBYA

President Barack Obama consulted the leaders of Britain, France and Italy on Thursday on immediate steps to end the Libyan crisis, as Washington kept all options open, including sanctions and military action, to stem the bloodshed.

Government forces shot dead at least two protesters in the Libyan capital Tripoli on Friday, television stations reported, as a popular uprising against Muammar Gaddafi closed in on his main power base.

Muammar Gaddafi vowed defiantly on Friday to triumph over his enemies, vigorously urging supporters in Tripoli's Green Square to protect the Libyan nation and its petroleum interests.

South African petrol pump prices in the main inland commercial region will increase by 43 cents a litre, or 4.8 percent, from March 2, the government said on Friday.

Are the global markets past the Middle East unrest? The answer is probably yes.

Higher oil prices should have a limited impact on the world economy if prices stay at current levels, the International Monetary Fund said on Friday.

The United Nations Human Rights Council has condemned the ongoing violence in Libya and ordered an international probe into alleged abuses carried out by government forces against protesters.

Libya’s former Interior Ministers is urging Moammar Gaddafi to resign in the face of massive resistance against the embattled leader

Top exporter Saudi Arabia has raised oil output above 9 million barrels per day to make up for a near halt in Libyan exports, an industry source said, helping prices fall further from the highest since 2008.

The London Stock Exchange (LSE), which is seeking to acquire The Toronto Stock Exchange, suffered a four-hour halt in trading today due to some technical glitch.

The Treasury has told American banks to closely monitor transactions that may be related to unrest in Libya for any possible signs that state assets were being misappropriated.

Stocks rose on Friday, bouncing back from a week-long sell-off as worries about crude supplies eased and oil prices stabilized.

Benghazi, on the eastern region of Libya is reportedly in the hands of anti-government protesters after much bloodshed and fighting with Gaddafi-backed mercenaries and troops.

Reports from Libya claim heavy fighting in the capitol city of Tripoli with anti-government protesters coming under heavy gunfire from troops and mercenaries in support of leader Moammar Gaddafi.

The United States and Turkey have discussed a range of options with regard to the situation in Lybia, the White House said Friday.

Besieged Libyan leader Moammar Gaddafi has chemical and biological weapons at his disposal and would not hesitate to use them against his opponents, warned the country’s former Justice Minister Mustafa Abdel Galil, according to various media reports.

Crude oil shipments from Libya, the world's 12th largest exporter, have almost halted as reduced production, a lack of staff at ports and security concerns due to violence take their toll, industry sources said on Friday.

Gold and Silver Prices failed to hold onto a sharp overnight bounce in London trade on Friday, trading below $1404 and $33 respectively per ounce as volatility in crude oil remained at record levels but world stock markets rose for the first day in six.

Political leaders around the world have almost universally condemned the government of Moammar Gaddafi for its brutal crackdown against anti-government protesters. At least 3000 people have died in the bloodshed that appears to be getting worse by the day.

Readout of President Obama’s Calls with President Sarkozy of France, Prime Minister Cameron of the United Kingdom and Prime Minister Berlusconi of Italy

Gold held near $1,400 an ounce in Europe on Friday, supported by interest in the metal as a haven from risk as violence flared in Libya, but struggled to maintain traction as some investors cashed in this week's hefty gains.