text: Crude Oil Prices Approach \$50 a Barrel LONDON - Oil prices hovered near \$50 per barrel Tuesday after a Saudi Arabian oil official said the world's largest petroleum exporter would raise its production capacity by nearly 5 percent in a bid to calm markets.    Light sweet crude for November delivery was up 16 cents at \$49.80 per barrel in late morning trading on the New York Mercantile Exchange, retreating from the \$50.47 high reached in overnight electronic trade...