Oil Fades to $47, Awaits US Stock Data
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Oil prices fell to seven-week lows below $47 a barrel on Wednesday as traders braced for another increase in US oil and natural gas inventories.
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LONDON, Nov 18  - Oil prices continued their decline Thursday after a brief rally on the back of renewed concerns over heating oil stocks in the United States fizzled out.
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Oil prices edged below $49 a barrel  on Wednesday as traders looked ahead to an expected build in  weekly U.S. inventory data that would help bolster the thin  supply cushion ahead of peak northern winter demand.
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Oil slipped below $75 on Wednesday but remained within sight of an all-time high ahead of U.S. data expected to show a further tightening of crude stocks in the world's top consumer.
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NEW YORK - U.S. stock futures were down a tick early Wednesday as investors digest the latest oil price jump and await retail sales data later this week...
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Worries piled up on financial markets on  Monday as the price of oil closed in on $47 a barrel and  investors feared for the state of the U.S. economy after a slew  of poor data.
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Oil prices fell to seven-week lows near &#36;47 a barrel on Wednesday as traders braced for another increase in U.S. oil and gas inventories.
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Oil prices fell yesterday after U S government data showed rising supplies of crude. Natural gas futures declined on the heels of a separate report that showed healthy domestic inventories of the home-heating fuel.
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Oil eased further below $64 on Tuesday   due to healthy U.S. fuel stocks, but a fresh delay to BP's   giant Thunder Horse oilfield in the Gulf of Mexico limited the   decline.
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Oil prices hurdled $47 a barrel Tuesday, with further declines in the nation&#39;s supply expected in the short-term as petroleum producers disrupted by Hurricane Ivan continue to regroup.
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Oil futures prices fell sharply Monday, sinking below $50 a barrel on a continuation of last week&#39;s selloff, which was prompted by rising inventories of crude in the United States.
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Oil prices edged lower on Wednesday as traders waited to see whether the first cold snap of the US winter had eaten into low heating fuel supplies.
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Crude oil prices slipped below USD 50 a barrel in Asian trade overnight as the market waited for the outcome of the US presidential election.
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Oil prices extended their decline on Wednesday to below $88 a barrel as poor U.S. economic data reinforced fears that the world's largest economy is on the brink of a recession, knocking stock markets lower.
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Oil prices continued to fall on Thursday after an unexpectedly large increase in crude stocks in the US. A barrel of US light crude was down 96 cents to $51.
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Oil prices fell as the market tracked fresh concerns about the US economy, with fears that a slowdown in the United States could dampen demand for crude, traders said Monday.
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Oil prices held steady near $47 a  barrel on Wednesday, a day after setting another record when  the U.S. government said inflation has stayed in check despite  rising energy costs. Weekly data expected to show a drop in  U.S. crude inventories also helped support prices.