Subscribe to Print Edition | Tue., June 10, 2008 Sivan 7, 5768 | | Israel Time: 01:32 (EST+7) web haaretz.com   Back to Homepage Rosner's Domain Diplomacy Defense Jewish World Opinion National Print Edition Advertising Books Peres Conference Business Real Estate Easy Start Travel Week's End Anglo File

Oil soars on Mofaz threats By Noam Rodeh Tags: Israel Statements by Transportation Minister Shaul Mofaz about the "unavoidability" of an Israeli attack on Iran if the Islamic Republic did not abandon its nuclear program, combined with the release of disappointing employment figures in the United States, were being blamed for Friday's $11 spike in oil orices and 3% fall on Wall Street. Oil futures surged $10.75, or 8.4%, to $138.54 a barrel on the New York Mercantile Exchange Friday - their biggest jump since contracts began trading in 1983. The contract price reached $139.12 a barrel during the trading day, for the greatest one-day increase ever, after Mofaz reportedly said that Iranian President Mahmoud Ahmadinejad "will disappear before Israel does." In a letter sent to investors during the weekend, investment bank Morgan Stanley predicted that crude could reach $150 a barrel by July 4. In addition, the Labor Department said May unemployment rose by 0.5% to 5.5%, much more than expected and the sharpest one-month rise in 33 years. It's all feeding fears that the world's biggest economy is heading into recession. Advertisement The jobless numbers contributed to a further softening of the dollar, which fell by 0.7% Friday against the euro to hit 1.586. Bookmark to del.icio.us   Sign of life Family of abducted IDF solider Gilad Shalit receives new sign of life. Happy Jews San Francisco museum details positive impact of Jews on city.

Read & React Shmuel Rosner: Obama and Jerusalem - did you really believe him? Responses: 245 U.S. proposes trilateral talks with Israel and PA Responses: 94 Defense sources:Talk of major IDF operation in Gaza is premature Responses: 77 Palestinian shepherds: Masked settlers beat us with clubs Responses: 137 More Headlines 22:57 Family of abducted IDF solider Gilad Shalit receives new sign of life 22:16 Iran blasts Mofaz remark, warns of 'painful' response if Israel attacks 21:11 Israeli officials: Israel-Syria talks set to resume this week 21:10 Poll: Abbas more popular than Haniyeh after call for Hamas dialogue 00:24 Jewish pilot tapped for U.S. Air Force chief position 15:50 German football fans detained in Austria for Nazi-like chants 21:56 At joint summit, EU and U.S. to launch extra Iran sanctions 21:54 PA: Rice to hold 3-way talks with Livni, chief Palestinian negotiator Qureia 15:56 Report: Hezbollah willing to negotiate over Shaba Farms 15:16 Jerusalem on the Bay: San Francisco museum details positive impact of Jews on city 18:17 Palestinian PM Fayyad says Israel to transfer withheld tax revenues Previous Editions Select Day 09 jun 08 jun 06 jun 05 jun 04 jun 03 jun 02 jun 01 jun 30 may 29 may 28 may 27 may

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