UPDATE 1-U.S. House passes Iran divestment bill

(Reuters) - WASHINGTON, July 31 - Calling for change in
Iranian nuclear policy, the U.S. House of Representatives
passed a bill on Tuesday to give legal protections to
investment managers who pull money out of the Iranian energy
sector.




Under the legislation approved by a 408-6 vote, the
Treasury Department would be required to list twice yearly on
the Internet the names of companies that have more than $20
million invested in the Iranian energy sector.


Read more at Reuters.com Government Filings News

Corrected: Oil hovers at 11-month high on supply worries

(Reuters) - U.S. crude for August delivery was 6 cents higher at $73.99 a barrel -- a fresh 11-month high and getting nearer the record high of $78.40 set in July 2006.




Analysts and traders said oil prices are likely to creep higher on bullish demand sentiment and as political tensions in major producers Iran and Nigeria continue to persist.


Read more at Reuters.com Hot Stocks News

Dollar Trades Near Record Low Versus Euro Before Fed Manufacturing Report

(Bloomberg) -- The dollar traded near a record low
against the euro before U.S. central bank report today that will
probably show a manufacturing slowdown, adding to speculation the
Federal Reserve will lower interest rates.

The U.S. currency also may decline for a third day against
the yen after Iran last week asked Japanese refiners to use their
own currency to pay for crude oil purchases. Iran's request is
``effective immediately,'' according to a letter dated July 10
and obtained by Bloomberg News. Iran's central bank in March said
it was cutting its U.S. dollar reserves.


Read more at Bloomberg Currencies News

Oil Trades Near Nine-Month High on U.S. Refinery Slowdowns, Iran Concern

(Bloomberg) -- Crude oil traded near a nine-month
high in New York after a drop in U.S. refining raised concern
that fuel supplies may remain below average.

Maintenance at refineries last week cut processing rates to
a six-week low, prompting oil companies to produce less diesel
and heating oil in an effort to boost gasoline stockpiles. Oil
also rose after Iran, the second-largest producer in the
Organization of Petroleum Exporting Countries, rejected United
Nations demands to suspend its uranium enrichment.


Read more at Bloomberg Energy News

Iran Rejects Suspension of Nuclear Program, Accuses UN of `Hidden Agenda'

(Bloomberg) -- Iran isn't willing to suspend its
nuclear program, calling itself a ``master'' of enrichment
technology and accusing the United Nations atomic agency of
harboring a hidden agenda of widening its inspections in the
Islamic Republic.

``Iran is the master of enrichment technology,'' said Iran's
Ambassador to the International Atomic Energy Agency, Aliasghar
Soltanieh, at a news conference in Vienna today. ``The
suspension, which has no legal or technical ground, now has lost
its political merit. There is no way that suspension could be
justified.''


Read more at Bloomberg Energy News