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UPDATE 15-Oil up after Saudi air strikes in Yemen; dollar limits gains

* Market up as much a 5 pct before paring gains on dollar rebound

Turkey's Erdogan says Iran and "terrorist groups" must leave Yemen - France 24

ISTANBUL, March 26 (Reuters) - President Tayyip Erdogan was quoted on Thursday as saying Turkey may consider providing logisitical support to the Saudi-led military mission in Yemen and called on Iran and "terrorist groups" to withdraw from the country.

Saudi Arabia to strengthen security at borders, around oil facilities - SPA

DUBAI, March 26 (Reuters) - Top oil exporter Saudi Arabia plans to beef up security at its borders and around oil and industrial facilities, state news agency SPA reported on Thursday, citing a statement by Deputy Crown Prince Mohammed bin Nayef.

US STOCKS-Wall St down after air strikes on Yemen, but off lows

* Indexes off: Dow 0.44 pct, S&P 0.42 pct, Nasdaq 0.54 pct (Adds Markit data)

UPDATE 3-U.S., Iran resume talks on preliminary nuclear deal as deadline looms

* Unclear if Saudi action will affect nuclear talks (Adds Iranian nuclear chief Salehi)

UPDATE 1-Maurel et Prom slashes exploration budget as oil prices stay weak

PARIS, March 26 (Reuters) - French oil and gas exploration and production group Maurel et Prom has slashed its exploration budget by more than 60 percent and said it plans to shed some projects as low oil prices weaken its ability to generate cash.

U.S. will work to ensure Bab-el-Mandeb strait remains open -U.S. general

WASHINGTON, March 26 (Reuters) - The U.S. military will work with Gulf and European partners to ensure the strategic Bab el-Mandeb Strait at the tip of the Red Sea remains open to commerce despite fighting and instability in Yemen, the head of U.S. forces in the region said on Thursday.

UPDATE 2-Yemen shuts major ports due to conflict -sources

DOHA, March 26 (Reuters) - Yemen shut its major seaports on Thursday, industry and local sources said, after neighbouring Saudi Arabia and Arab allies launched air strikes against Iran-allied Houthi forces fighting Yemen's Western-backed president.

IMF says postpones Yemen loan program for now

WASHINGTON, March 26 (Reuters) - The International Monetary Fund on Thursday said it was postponing its next review of its $553 million loan program to Yemen given the uncertain situation in the country.

UPDATE 1-Saudi drawing down FX reserves to cover deficit, data suggests

DUBAI, March 26 (Reuters) - Saudi Arabia has begun drawing down its foreign currency reserves for the first time since 2009 to cover a record state budget deficit caused by the plunge in oil prices, data from the Saudi central bank indicated on Thursday.

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