TEHRAN (FNA)- Oil prices rose more than $1 on Monday after energy firms in the US Gulf shut down nearly all offshore oil output and a host of flood-prone coastal refineries ahead of Hurricane Gustav, the biggest threat since 2005’s devastating Katrina.

TEHRAN (FNA)- Oil-rich Persian Gulf monarchies will sign an accord with Turkey aimed at boosting ties between the Arab bloc and Ankara, the chief of the Persian Gulf Cooperation Council (PGCC) said on Sunday.

TEHRAN (FNA)- Woolworths’ biggest shareholder, Iranian property tycoon Ardeshir Naghshineh, may plan his own bid for the confectionery-to-DVDs retailer.

TEHRAN (FNA)- Iran, OPEC’s second-largest oil producer, may urge the crude exporting group to restrain output when it meets Sept. 9 to ensure the market doesn’t become over supplied and push prices below $100.

TEHRAN (FNA)- Two leading global energy companies are promoting business with Iran.

TEHRAN (FNA)- Kish Island off the Iranian coasts in the Persian Gulf is one of the Middle East’s most popular tourist destinations. The free trade zone draws one-and-a-half million visitors each year to its shopping centers, resort hotels, beaches and festivals.

BRUSSELS (Reuters) – The European Union will warn Russia on Monday that relations could suffer in future if Moscow does not uphold accords to end the Georgia conflict, according to a draft summit statement that shied away from sanctions.

PARIS (Reuters) – President Nicolas Sarkozy is ready to revisit Moscow and Tbilisi to help resolve the Russian-Georgian conflict, French Prime Minister Francois Fillon said on Monday.

BRUSSELS (Reuters) – EU leaders meet in an extraordinary session on Monday to try to unite behind a strong response to Russia’s actions in Georgia, but Moscow warned it would hit back at any threat to its interests at home or abroad.

CANBERRA (Reuters) – Australia said on Monday it was reconsidering a deal to sell nuclear fuel to Moscow after Russia’s military incursion into Georgia.