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Oil Prices Fall Ahead of OPEC Meeting

Futures and Commodities
NEW YORK (AP) -- Crude oil prices dipped to their lowest levels in more than a month Friday, falling below $89 a barrel as investors sold amid signs of weakening demand and expectations that OPEC will boost production next week.

The slide in oil may mean consumers will see relief at the pump soon, analysts said. Gasoline and heating oil futures also dropped.

It was quite a turnaround for crude, which began the week pushing $100 a barrel but ended it by falling to its lowest levels since Oct. 25.

Light, sweet crude for January delivery fell $2.30 to settle at $88.71 a barrel on the New York Mercantile Exchange. Crude prices are more than $10 below Monday's high of $99.11 a barrel and the all-time high of $99.29 a barrel set last week. Prices continued falling Friday after the Nymex closed, dropping as low as $88.45 in electronic trading.

Oil's downturn is good news for consumers, who will likely see lower gas prices in coming days, said Tom

Google to Bid for Wireless Spectrum

Market News
SAN FRANCISCO (AP) -- Google Inc. confirmed its plans to bid for a prized piece of the airwaves in an upcoming government auction, further underscoring the Internet search leader's determination to shake up the wireless market and plumb more profits from mobile phones.

Friday's announcement wasn't a bombshell because the Mountain View-based company previously signaled it might participate in the Federal Communications Commission auction scheduled to begin Jan. 24.

In a mild surprise, Google will enter the competition without a partner more experienced in the wireless industry.

Going it alone will be expensive and potentially risky, even for a company as rich and technologically adept as Google, which ended September with about $13 billion in cash.

The bidding for the swath of 700 megahertz spectrum that Google wants will start at $4.6 billion, with analysts predicting the final price will be substantially higher. Building out the network for national coverage might cost an additional $5 billion to $7.5 billion, based on estimates from Citigroup Global markets analyst Michael Rollins.

Lingering questions about how the possible wireless expansion might affect Google's finances and focus

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