Oil settles near $48 on auto vote
Passage of the $14 billion measure to aid carmakers helps boost sentiment about economy, but threatens weaker dollar.
By Kenneth Musante, CNNMoney.com staff writer
Oil prices jumped Thursday after the House passed a $14 billion stop-gap measure designed to keep the U.S. auto industry from immediate collapse.
U.S. crude for January delivery [...]

The Downturn Hits Dubai
With plummeting oil prices causing the Persian Gulf economy to shrivel, Dubai’s push to become a global financial hub is in jeopardy.
For a year or so, the movers and shakers of the small but oil-rich United Arab Emirates have watched the unfolding of the credit crisis in the West with a mixture [...]

Oil retreats on economic concerns
Crude futures remain in low $50s range as investors ponder weak U.S. reports.
SINGAPORE (AP) — Oil prices fell to near $53 a barrel Thursday in Asia as dismal U.S. economic data and rising crude inventories outweighed the possibility of production cuts by OPEC and Russia.
Light, sweet crude for January delivery was [...]

Oil prices at near 22-month low
Crude and gasoline inventories rise in the latest week, according to government reports.
By Kenneth Musante, CNNMoney.com staff writer
NEW YORK (CNNMoney.com) — Oil prices fell to a nearly 22-month low Wednesday after a government report showed a bigger-than-expected rise in crude inventories, reinforcing concerns that demand for petroleum products is waning.
U.S. [...]

Oil appetite in Middle East to soar
Tamsin Carlisle
The Middle East may overtake China as the biggest contributor to global oil demand growth, according to a leading international investment bank.
Noting that China
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