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Oil, Gold Rally as Mideast Tensions Mount; Stocks, Eni Tumble

Oil rose to the highest since September 2008 and gold rallied for a sixth day surpassing $1,400 an ounce as tension in the Middle East escalated. Stocks fell the most in a month as Eni SpA led companies with operations in Libya lower.

Brent crude gained 5.3 percent to $107.93 at 5:34 p.m. New York time. Gold climbed 1.2 percent and silver added 3.8 percent. The Stoxx Europe 600 Index declined 1.3 percent, with Eni sinking the most since July 2009. Standard & Poor’s 500 Index futures lost 0.9 percent. Bahrain’s 2020 bond yield increased for a 10th day after S&P cut the nation’s debt rating. The yen and the dollar strengthened against most of their major peers. U.S. markets were closed for the Presidents’ Day holiday.