Commodity index investors, blamed for record oil prices, sold $39 billion worth of oil futures between their July record and Sept. 2, causing crude to plunge, according to a report to be released today. [Read more]

Major stock indexes were flat as investors mulled whether the government’s bailout of Fannie Mae and Freddie Mac will affect the root of the mortgage crisis — falling home prices and increasing rates of foreclosures.

Just after the opening bell, the Dow Jones Industrial Average was up 0,33% at 11547. The Nasdaq Composite Index up 0.45% to 2279.25. The S&P 500 fell 0.19% to 1265. [Read more]

Crude oil was little changed as the dollar rose against the euro for an eighth day and Hurricane Ike moved toward the Gulf of Mexico.

The U.S. currency strengthened to the highest since October 2007 as the government’s takeover of Fannie Mae and Freddie Mac encouraged investors to move funds into the stock market. A rising dollar curbs the appeal of commodities as an inflation hedge. Oil rose as high as $109.89 a barrel earlier on forecasts that Hurricane Ike will enter the Gulf and threaten oil rigs. [Read more]

Oil rose from a five-month low as Hurricane Ike swept across Cuba, delaying the resumption of crude production in the Gulf of Mexico.

Crude oil for October delivery rose as much as $2.89, or 2.7 percent, to $109.12 a barrel in electronic trading on the New York Mercantile Exchange.

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Crude-oil futures on Friday closed below $107 a barrel, with crude closing at $10.23 a barrel on the New York Mercantile Exchange. With the stock market watching the price of crude more carefully in recent months, Tuesday’s OPEC meeting should be a focus on coming days, with many market participants expecting the cartel to curb production. [Read more]

Crude oil fell to a five-month low as the dollar climbed and U.S. unemployment rose more than expected, signaling a slowdown in demand. [Read more]