The credit crunch is lingering says The Times. And it means more layoffs for Wall Street suits.

Crude oil prices are up again today despite a pledge by Saudi Arabia to boost production.

Traders focused instead on disruptions to Nigerian supply and heightened Middle East tensions — namely Iran’s threat of a “devastating” response to any attack on its nuclear sites by Israel.

On Friday, Pentagon officials said a large-scale Israeli military exercise in the eastern Mediterranean early this month may have been a dress rehearsal by Israeli forces for an attack on Iranian nuclear facilities.

British house prices fell in May by the most since at least 1991, according to Bloomberg:

The price of an average home dropped 2.5 percent from April to 173,583 pounds ($344,000), Britain’s fourth-biggest mortgage lender said today in a statement. That’s the largest decline since the index started in January 1991. From a year earlier, prices fell 4.4 percent.