The Hellenic Radio (ERA): News in English, 08-05-21

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From: The Hellenic Radio (ERA) <www.ert.gr/>

CONTENTS

[01] In International Markets

21 May 2008 20:43:00

Sources: REUTERS

Oil prices surged more than $3 to a record near $133 a barrel on Wednesday after a U.S. government report showed a surprise drop in crude stockpiles, reinvigorating fears of a worsening supply crunch. The gains bring oil up more than 30 percent so far this year in a rally that has raised alarm bells in consumer countries like the United States, already hard hit by a housing slump and credit crisis. "The market is in a very bullish mood and these statistics will do nothing to change that," said Tom Bentz, analyst at BNP Paribas Commodity Futures Inc. U.S. crude gained $3.52 to $132.50 a barrel by 1755 GMT after hitting a fresh peak of $132.70. London Brent rose $4.34 to $132.18. The surge came after the U.S. Energy Information Administration showed crude stockpiles in the worlds biggest energy consumer fell 5.4 million barrels last week, countering expectations for a build.

[02] Signed Pakistan

21 May 2008 19:43:00

Sources: AFP

Afghanistan is gravely concerned over the peace deal signed between Pakistan and the Taliban militants operating in NW Afghanistan, as it feels it has been sidestepped by Pakistan. Afghan foreign ministry spokesman Sultan Ahmad Baheen said, "We believe any exclusive deal with the Taliban would result in worsening of the situation. Any sort of agreement with the terrorists would harm both countries." The agreement will see the gradual withdrawal of troops from the devastated former tourist region of Swat and the imposition of Islamic Sharia law in line with the rebels demands, provincial ministers said. In return, the militants will close training camps, hand over foreign fighters and halt suicide attacks on government installations and security forces under the 15-point pact, they said.

[03] China: Death Toll Rise Above 41,000

By Anna Kourti

Sources: BBC, Reuters, ANA-MPA

The devastating earthquake that hit China on 12 May has claimed 41,353 people so far, while as many as 32,666 have been reported as missing. In the meantime, the exiled Tibetan government called for the temporary suspension of the pro-Tibet protests, as a sign of respect to the quake victims.

Translated by Areti Christou

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