* U.S. crude at 30-month highs on fear unrest may spread
* Global stocks fall as oil concerns prompt growth worries
* Euro extends gains against US dollar on hawkish ECB talk
* Government debt prices gain on safe-haven buying
(Adds close of European stocks, latest Libyan developments)
By Herbert Lash
NEW YORK, Feb 22 (Reuters) - World stocks fell on Tuesday
as a growing revolt in Libya drove crude prices to 30-month
highs, prompting fears the unrest could spread to other major
oil suppliers in the region and harm global growth.
Crude prices surged in New York and London, where prices
for North Sea Brent <LCOc1> touched $108.57 a barrel before
paring some gains. For details see: []
Gold prices steadied above $1,400 an ounce and base metals
fell as concerns about oil supplies cooled the appetite for
assets perceived as risky and drove investors into safe-haven
assets such as bullion and government debt.
Muammar Gaddafi vowed to die in Libya as a martyr in a
television address on Tuesday as rebel troops said eastern
regions had turned against him in a growing revolt.
[]
Libya ranks third in Africa after Nigeria and Angola in oil
production and investors are concerned about the potential
spread of violence in North Africa and the Middle East, and how
that might disrupt the region's oil supply.
"The uncertain and scary geopolitical landscape is taking
center stage in the global markets," said Justin Lederer,
Treasury analyst at Cantor Fitzgerald in New York.
Global stocks, as measured by MSCI's all-country world
index <.MIWD00000PUS>, fell 1.1 percent and the pan-European
FTSEurofirst 300 <> index of top shares provisionally
closed 0.5 percent lower.
Much of Wall Street was down more than 1 percent.
The Dow Jones industrial average <> was down 94.30
points, or 0.76 percent, at 12,296.95. The Standard & Poor's
500 Index <.SPX> was down 14.92 points, or 1.11 percent, at
1,328.09. The Nasdaq Composite Index <> was down 46.90
points, or 1.65 percent, at 2,787.05.
The euro rose versus the dollar as hawkish comments from a
European Central Bank official helped it pare earlier steep
losses as escalating violence in Libya prompted investors to
seek safer assets. []
The euro <EUR=> was up 0.09 percent at $1.3663, and against
the Japanese yen, the dollar <JPY=> was down 0.2 percent at
82.94.
U.S. crude prices jumped, in part because electronic
trading of the contract occurred on Monday, but there was no
settlement close as the exchange in New York was closed for the
Presidents Day holiday.
U.S. light sweet crude oil <CLc1> rose $5.60 to $91.80 a
barrel.
The price of the 30-year U.S. Treasury bond <US30YT=RR>rose
a full point as the political unrest prompted investors to sell
riskier assets in favor of safe-haven bonds. []
The 30-year bond last traded 1-4/32 higher in price to
yield 4.62 percent. The benchmark 10-year U.S. Treasury note
<US10YT=RR> was up 24/32 in price to yield 3.49 percent.
Gold prices slipped but remained above $1,400 an ounce as
the dollar surrendered its earlier 1 percent gains versus the
euro, with violence in Libya fueling interest in the metal as a
haven from risk. []
Spot gold prices <XAU=> fell $1.80 to $1,404.10 an ounce.
(Additional reporting by Edward Krudy, Gertrude
Chavez-Dreyfuss, Chris Reese and Julie Haviv in New York;
Writing by Herbert Lash, Editing by Andrew Hay)
