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Crude Tops $42 On Terror Fears
1July crude oil surged $2.45 to a record $42.33 a barrel. A weekend al-Qaida rampage in Saudi Arabia left 22 dead, mostly foreign oil industry staff, while 3 of 4 attackers escaped. That raised fears of supply disruptions for the world's No. 1 oil exporter. OPEC is expected to sharply hike official output targets Thursday. More on this page
Tribal Chief To Be Iraq President
2Ghazi Mashal Ajil al-Yawer, a powerful Sunni and critic of the occupation will take the largely symbolic post, after the U.S.-picked Governing Council rejected the U.S. choice. President Bush still praised the selection. Incoming Prime Minister Iyad Allawi, a Shiite, said he'll negotiate a key deal on the status of U.S.-led coalition forces.
Iraq Car Bombings Kill 14 People
3A car bomb exploded near the entrance of a U.S. military base in Bayji, north of Saddam's hometown of Tikrit, killing 11 and wounding 26, said an Iraqi security officer. Meanwhile, at least 3 were killed and 34 wounded at the Baghdad HQ of a main Kurdish party, a U.S. military source said. Mortars also rained down on the coalition's "green zone" headquarters.
Factory Hiring Hits 31-Year High