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COMMODITIES DAYBOOK: Crude Oil Surges as U.S. Supplies Decline

West Texas Intermediate crude surged above $100 a barrel after the year’s largest decline in U.S. stockpiles and concern that unrest in Egypt may disrupt Middle Eastern shipments.

WHAT TO WATCH (ALL TIMES NEW YORK) * 7am UK Bank of England Official Bank Rate * 7:45am ECB Main Refinancing Rate

TOP STORIES * Israel Chemicals Moves Dead Sea Salt for $1 Billion * Crude Rises to 14-Month High Amid Egypt Unrest * Natural Gas Climbs After Smaller-Than-Forecast Supply Gain * Europe-to-U.S. Gasoline Arbitrage Cargoes Seen Plunging 28% * Japan Nears Switching on Reactors After Tepco’s Meltdown * Gold Rises on Europe’s Debt Woes, Mounting Egypt Tensions * Gold Premiums in India Climb to $20/Oz as Supplies Shrink * Wheat Rises Most in Two Weeks on Asia, Egypt Demand * Cocoa Climbs on Crop Delay Concern; Coffee, Sugar Decline * Copper Swings Between Backwardation to Contango in London * Expanding Aluminum Glut Signals Price Drop: Chart of the Day * World Copper Reserves Seen Lasting 100 Years and Far From Peak

ON THE FRONT PAGES * Gulf Keystone Names Simon Murray as Chairman, FT * Vedanta Quits Bidding Process for Rio Iron Ore Stake: WSJ * Lukoil to Drill Caspian Khazri Prospect This Year: Interfax

ECONOMIC DATA * 3am U.K. HBOS House Prices * 7am Bank of England Asset Purchase Program Target Amount * 7:50pm Japan Official Reserve Assets

MARKETS * Crude oil up 1.6% to $101.24/bbl * Gasoline gains 2% to $2.8382/gal * Natural gas rises 1% to $3.69/mmBtu * Gold up 0.7% to $1,251.90/oz * Copper up 1% to $3.1745/lb * Soybeans up 0.7% to $12.5075/bu * Wheat rises 1% to $6.65/bu * Dollar index down 0.4% to 83.217 * MSCI All-Country index down 0.5% to 356.3

BLOOMBERG TV * 1am George Buckley, Deutsche Bank AG U.K. Chief Economist * 4:10am Neville Hill, Credit Suisse Group AP Managing Director * 5am Francesco Garzarelli, Goldman Sachs Group Inc. Partner * 6:45am Bill O’Neill, UBS Private Banking

To contact the reporter on this story: Moming Zhou in New York at mzhou29@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net

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