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OIL IGNORES NATURE’S CALL Is oil headed down to $80 a barrel? says Moira Herbst in BusinessWeek.com. Many analysts think so. Unlike similar storms in past years, Hurricane Gustav was not
greeted with a rally in oil markets, and in fact oil prices dropped after it became clear that Gustav would give the U.S. only “a glancing blow.” What’s going on? A rally in the U.S. dollar
is weighing on oil. But it also seems that the “choppy U.S. economy” scares traders more than choppy Gulf waters. As more storms gather force and OPEC meets next week, though, “the only
certainty in the oil market remains volatility.” THE RENTAL FLAT LINE SUBSCRIBE TO THE WEEK Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
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From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox. Office rental prices jumped 10 percent in 2007, have been
stagnating this year, and “will be flat to edging lower through 2009,” says Jerome Idaszak in Kiplinger.com. That’s good news if you are a business, but not such glad tidings if you’re a
commercial landlord. And things will only get worse for landlords “if job losses become more severe than anticipated,” and as excess supply from the real estate “exuberance” of 2006 and 2007
hits the market. If you’re a tenant, you’ll likely see cash incentives and some months of free rent if you play your cards right. So if your contract is up for renewal, negotiate a short
lease. Next year will look more favorable for rent talks. A free daily email with the biggest news stories of the day – and the best features from TheWeek.com