Russia recognises Georgia rebel regions

Russian President Dmitry Medvedev convened security chiefs on Tuesday to consider a plea from parliament to recognise two separatist regions of Georgia as independent, a move Washington says would be unacceptable. The

Oil rises above $116 on Gustav worries

Oil rose more than $1 to reach $116 a barrel on Tuesday, bouncing off lows as concerns arose about possible disruption to U.S. offshore oil and gas output from a strengthening Hurricane

Oil falls below $114 as dollar surges

Oil fell by more than $1 a barrel to below $114 on Tuesday as the U.S. dollar strengthened, countering concern that Hurricane Gustav could threaten oil installations in the Gulf of Mexico.

Oil near $115 as dollar weighs

Oil hovered around $115 a barrel on Tuesday as the dollar strengthened, but losses were limited as tropical storm Gustav in the Caribbean turned into a hurricane, stoking concerns over output disruptions