LIBYA

The East African country of Uganda is reportedly willing to allow Libyan leader Moammar Gaddafi to live there in exile, according to spokesman for Ugandan president.

Gold shot up by nearly one percent on Wednesday, after four sessions of losses amid broad support from unrest in the Middle East and North Africa, but gains may stay limited by expectations monetary policy in key regions may tighten. Spot gold was bid at $1,430.55 an ounce at 1344 GMT, against $1,415.95 late in New York on Tuesday.

World stocks bounced back on Wednesday, driven by optimism about potential gains in the coming quarter and setting aside lingering concerns about Japan's nuclear crisis and turmoil in the Arab world.

Brent was steady near $115 on Wednesday, after falling as much as 0.6 percent on indications that higher fuel prices were weighing on consumer confidence in top user the United States, where crude inventories rose more than expected last week.

Crude oil prices rose on Tuesday in technical, thin trading and lifted by stronger equities and lowered expectations about a quick return of Libya's oil exporting capabilities.

As soldiers loyal to Moammar Gaddafi appear to have retaken the city of Bin Jawad through a violent counter-offensive against rebel forces, fears are growing that Libya has sunk into a stalemate that could split the country apart into two nations.

France, which has been the most aggressive foreign nation to move against Libya, said it was prepared to discuss providing weapons to the Libyan opposition – even if the UN mandate on Libya did not specifically provide for this feature.

U.S. Secretary of State Hillary Clinton in London on Tuesday at an international gathering focusing on the political future of Libya, said no decision has been made as to arming Libyan rebels but said such an option was a possibility under a United Nations resolution passed last week.

Crude oil prices turned positive on Tuesday as investors eyed market technicals, an equities market bounce and reined in optimism about an early return of Libya's oil exporting capabilities.

While Western powers and some of their Arab allies are meeting in London to discuss military action in Libya and that country’s future, the UK Prime Minister David Cameron told the gathered parties there were better days ahead for Libya and that coalition forces will continue to impose ther no-fly zone over the North African country.

U.S. auto sales in March are expected to rise about 12 percent from last year's depressed levels, but high gasoline prices and production problems caused by the Japanese earthquake could slow a recovery, analysts and investors said.

Oil prices turned positive on Tuesday as Gaddafi's troops halted a rebel advance, raising doubts among investors over how quickly the conflict in OPEC member Libya could be resolved.

The International Community is meeting to support Libya's people to find a political transition away from current leader Muammar Gaddafi, a move President Barack Obama backed in a speech Monday as he outlined a support role the U.S. will play while an international coalition carries out military attacks on Libyan defenses to enforce a no-fly zone.

Oil prices slipped on Tuesday for a third consecutive day as rebels and government troops battled for supremacy in Libya and more bad news from Japan's stricken nuclear plant sapped investor confidence.

There has been twister postings suggesting that Libyan foreign minister Mousa Kousa has fled the country and probably defected. The BBC cited a twitter posting saying that Kousa has been cited in Tunisia with family and luggages. BBC said it can’t verify the authenticity of the information.

Dollar Gold Prices fell in Asian and early London trade on Monday, dropping 1.3% to a 6-session low of $1411 per ounce as global equities slipped and the US currency rose on the forex market. Silver Prices lost 2.1% to hit a 3-session low beneath $36.50 per ounce.

The U.S. sixth fleet has attacked Libyan ships near the port city of Misrata, where pro-Gaddafi forces had made significant advances, according to the latest reports from the Libyan war theater.

Oil prices fell around a dollar on Tuesday in a third day of declines as expectations mounted of a relatively swift restoration of supplies from OPEC member Libya.

Libyan rebels retreated from Sirte, Gaddafi's hometown, as official forces unleashed heavy weapon fire on them on Tuesday, according to reports. The rebels who were pushed back into Bin Jawad are now digging their toes in there as fight is on for the control of the town.

Syria on Tuesday offered olive branch to the swelling ranks of protesters by announcing the intent to carry out a full clean-up of the government even as the country slipped into a visible division between those who support president Bashar Al-Assad and those baying for his blood.

Crude prices traded below $104 a barrel on Tuesday in Asia as Libyan rebels announced resumption of oil exports from the sites controlled by them.